In a recent article, Chuck Jaffe wrote that when he considers a mutual fund or ETF, he looks at the ratings of three research firms: Morningstar, Lipper, and New Constructs.

We’ve made no secret about our bearishness on certain cloud stocks. Over the past several months, we’ve featured Callidus (CALD), Netsuite (N), Salesforce (CRM), and Tangoe (TNGO) in the Danger Zone.