Wally Weitz, the mutual-fund manager who beat 90 percent of rivals in the past five years by buying stocks he deemed cheap, says bargains are so scarce these days that he’s letting his cash holdings swell.
Donald Yacktman, whose $21 billion mutual-fund firm was BlackBerry’s fifth-largest investor last year, sold almost half his holdings in the smartphone maker in the weeks before the debut of its ballyhooed BlackBerry 10.
Donald Yacktman, whose $19 billion mutual-fund firm has outperformed 99 percent of its peers over the past five years, says he’s cut his stake again in BlackBerry because it’s too expensive given its prospects.
Donald Yacktman , whose $2.3 billion Yacktman Fund has outperformed 97 percent of funds with similar objectives over the past five years, said he likes shares of Microsoft Corp. , Viacom Inc. and ConocoPhillips .
Wally Weitz likes to invest with billionaires he’s known a long time. He’s been a shareholder for more than 35 years in Berkshire Hathaway Inc., run by his Omaha, Nebraska, neighbor Warren Buffett, and has held stakes in companies run by media mogul John Malone for more than 20.
Thomas Perkins beat 94 percent of his mutual-fund rivals in the past decade by investing in midsize companies. He now prefers giants such as Cisco Systems Inc. and Wal-Mart Stores Inc ., and his $12.4 billion Perkins Mid Cap Value Fund is almost at its limit for big-company shares.