GuruFocus is pleased to announce that Investment Guru, Morningstar Manager of the Year Donald Yacktman, and his son, an emerging investment manager, Brian Yacktman, have both agreed to conduct an email Q&A with GuruFocus users.
Donald Yacktman had been managing money for 15 years when he took over Selected American Shares in 1983. When he left at the end of 1991, over that time frame it was the 5 th best performing mutual fund in the country. He was named Morningstar manager of the year and in 1992 he opened The Yacktman Fund (YACKX). During the late 90’s he resisted the temptation to jump on the tech band-wagon and thrived in the 2000-2002 bear market and 2003 recovery. At the peak of the market in October 2007, with 30% in cash and low exposure to financials, he was prepared for the market crash – over the last year his Focused Fund (YAFFX) is up 22%, nearly 32% ahead of the S&P 500 which puts his funds in the small category of funds that have actually made money since October 2007. Over any 10-yr. rolling period he has beaten the S&P 500 index. GuruFocus has recently reviewed his top holdings here and top purchases here.
Yacktman Fund performance during the recent years is as follows:
Brian Yacktman left Yacktman Asset Management to begin his own new venture, founding Yacktman Capital Group, LLC (YCG), a registered investment advisory firm that manages separate accounts. Brian believed in the time-tested investment philosophy of his father and desired to enhance the process through the use of options and active hedging. He has been managing money for over a decade and since establishing the firm back in December 2007, his separate account strategies have performed very well despite the recent turbulent market – year-to-date (throught August 31, 2009) his concentrated option-enhanced portfolio is 20% ahead of the S&P 500. We wish Brian and his firm continued success in his new venture.Â
We bring Brian into the discussion so answer the questions about options and active hedging that you always wanted to know but dared not to ask.
GuruFocus is thrilled have the opportunity to bring our users access to the knowledge and insights of this dynamic father-son duo.
Post questions by clicking on "Reply to this message". We will collect and edit the questions and send them to both Donald and Brian, and then we will post their answers once we receive them back.
So fire off your questions to both these investment gurus!
The Q&A is closed on October 3, 2009. We no longer take any questions.
Donald Yacktman had been managing money for 15 years when he took over Selected American Shares in 1983. When he left at the end of 1991, over that time frame it was the 5 th best performing mutual fund in the country. He was named Morningstar manager of the year and in 1992 he opened The Yacktman Fund (YACKX). During the late 90’s he resisted the temptation to jump on the tech band-wagon and thrived in the 2000-2002 bear market and 2003 recovery. At the peak of the market in October 2007, with 30% in cash and low exposure to financials, he was prepared for the market crash – over the last year his Focused Fund (YAFFX) is up 22%, nearly 32% ahead of the S&P 500 which puts his funds in the small category of funds that have actually made money since October 2007. Over any 10-yr. rolling period he has beaten the S&P 500 index. GuruFocus has recently reviewed his top holdings here and top purchases here.
Yacktman Fund performance during the recent years is as follows:
| Year | Return (%) | S&P500 (%) | Excess Gain (%) |
|---|---|---|---|
| 2008 | -26.05 | -37 | 11.0 |
| 2007 | 3.39 | 5.61 | -2.2 |
| 2006 | 15.95 | 15.79 | 0.2 |
| 2005 | -1.3 | 4.91 | -6.2 |
| 2004 | 9.93 | 12 | -2.1 |
| 2003 | 33.03 | 28.7 | 4.3 |
| 2002 | 11.41 | -22.1 | 33.5 |
| 2001 | 19.47 | -11.9 | 31.4 |
| 2000 | 13.46 | -9.1 | 22.6 |
| 1999 | -16.9 | 21 | -37.9 |
Brian Yacktman left Yacktman Asset Management to begin his own new venture, founding Yacktman Capital Group, LLC (YCG), a registered investment advisory firm that manages separate accounts. Brian believed in the time-tested investment philosophy of his father and desired to enhance the process through the use of options and active hedging. He has been managing money for over a decade and since establishing the firm back in December 2007, his separate account strategies have performed very well despite the recent turbulent market – year-to-date (throught August 31, 2009) his concentrated option-enhanced portfolio is 20% ahead of the S&P 500. We wish Brian and his firm continued success in his new venture.Â
We bring Brian into the discussion so answer the questions about options and active hedging that you always wanted to know but dared not to ask.
GuruFocus is thrilled have the opportunity to bring our users access to the knowledge and insights of this dynamic father-son duo.
Post questions by clicking on "Reply to this message". We will collect and edit the questions and send them to both Donald and Brian, and then we will post their answers once we receive them back.
So fire off your questions to both these investment gurus!
The Q&A is closed on October 3, 2009. We no longer take any questions.
