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Article: Year after Yacktman win, fund struggles: .(Brief Article)
- Article from:
- Crain's Chicago Business
- Article date:
- November 29, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, 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)
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But veteran manager says turnaround is on the wayPardon Donald A. Yacktman if he passes on a party next month to mark the first anniversary of his victory in a vicious board fight.
The Chicago value manager doesn't have much to celebrate.
"He's just getting smacked around right and left," says Don Phillips, chief executive of Morningstar Inc., who invests in the Yacktman Fund as an individual (the Chicago fund-tracking firm doesn't). "This has got to be extremely personally trying for him."
While he says he has faith in Mr. Yacktman, who ran money for 15 years at Stein Roe & Farnham and went on to manage the perennial top-performing Selected ...