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I haven't come across any comments by management with respect to their recent purchase of RIMM...anyone come across Yacktman thoughts on this large purchase?
Hi bee. You've mentioned the RIMM purchase by Yacktman before, but I don't see it in the top 20 holdings in either of his funds as of 9/31/11. It must be a pretty small percentage, <1% maybe?
Here's the position: "As a value investor, Yacktman initiated a new purchase of 2.95 million shares worth $73 million. He invested 0.8% of the portfolio in RIMM and owns 0.56% of the company."
Thanks for the article bee. I guess I'm not too concerned if he bought the stock in the mid $20's - which the stock price was at just before this article came out. The article is actually supportive of the purchase at that price. All managers make mistakes. Time will tell if this was a good or bad move on Yacktman's part. (I've actually increased my percentage in YAFFX in the last month.)
Reply to @bee: One can say the same time about the purchase of Hewlett Packard, 2%. If the point of entry was in the low 20's, only time will tell if that is a good decision now that Apotheker is gone (with $25 million severance!). I think RIMM still have value and will likely to get bought out by someone else, just like Motorola.
One point the article failed to point out is how Yacktman managed to side-step the questionable sectors, i.e. big financial banks. In contrast, Fairholme invested heavily in BAC and continued to buy more as it drove ever lower. Let's hope BAC turns around soon...
Comments
I haven't come across any comments by management with respect to their recent purchase of RIMM...anyone come across Yacktman thoughts on this large purchase?
Hi MikeM,
Here's the position:
"As a value investor, Yacktman initiated a new purchase of 2.95 million shares worth $73 million. He invested 0.8% of the portfolio in RIMM and owns 0.56% of the company."
Article:
http://seekingalpha.com/article/284160-7-big-buys-by-donald-yacktman
Thanks for the article bee. I guess I'm not too concerned if he bought the stock in the mid $20's - which the stock price was at just before this article came out. The article is actually supportive of the purchase at that price. All managers make mistakes. Time will tell if this was a good or bad move on Yacktman's part. (I've actually increased my percentage in YAFFX in the last month.)
One point the article failed to point out is how Yacktman managed to side-step the questionable sectors, i.e. big financial banks. In contrast, Fairholme invested heavily in BAC and continued to buy more as it drove ever lower. Let's hope BAC turns around soon...