|
|
Article: Yacktman vs. His Directors: What Are the Facts?(proxy fight between manager Donald Yacktman and four members of the board of directors)(Brief Article)
- Article from:
- Kiplinger's Personal Finance Magazine
- Article date:
- December 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Donald Yacktman inspires nothing if not trust. A former bishop in the Mormon church, he wears well-tailored suits, carries a gold pocket watch and exudes an air of calm confidence. Moreover, the 57-year-old Yacktman employs a sensible and easily understood investment philosophy: Buy 20 or so mostly large growth stocks when they are out of favor on Wall Street, then hold on patiently until their prices rise. On this philosophy he has built a solid long-term record since 1982 and, for the past six years, has run the fund that bears his name.
In short, it's hard to imagine anyone less likely to be at the center of this year's ugliest: mutual fired donnybrook. But ...