11 November 2009
I took a quick look at some of the outliers for 3Q so far. CTC put on a huge WYE risk arb position which is gone now. Scott&Stringfellow is downsizing across the board...maybe it is getting absorbed by BBT. Yacktman Fund. They've had a wonderful year as you can see below. I had always thought Don Yacktman was a value guy. Anywho, Morningstar says that his portfolio is running with a beta of 1.31. That isn't style creep that's style flip. I have to say a look at his names tells me he is still running a low risk portfolio. Well if it feels good keep doing it.
Something is going on.