Donald Yacktman is the President and Co-Chief Investment Officer of Yacktman Asset Management Co. He is also a Co-Manager for The Yacktman Funds. Prior to founding the firm in April, 1992, Mr. Yacktman served for ten years as the Senior Portfolio Manager of Selected Financial Services, Inc. In an interview, Yacktman was asked what his favorite books were. Yacktman recommending the following four ‘books’ listed below.
Donald Yacktman Recommended Reading List
- Ben Graham’s Security Analysis No surprise here.
- Berkshire Hathaway Annual Reports , the reports could be found on Berkshire Hathaway’s website, or a compilation of his letters can be found by category, and endorsed by Buffett- The Essays of Warren Buffett: Lessons for Corporate America.
- John Train’s The Money Masters, all about great investors like Buffett, Peter Lynch etc.
- Poor Charlie’s Almanack All about Charlie Munger.
In an earlier interview he also recommended:
Reading books like “The Snowball: Warren Buffett and the Business of Life” by Alice Schroeder, “The Real Warren Buffett” or general books about Warren Buffett or books by Ben Graham.
Joel Greenblatt’s Magic Formula – Not a fan of formula investing in general, but the concepts he brings out are excellent concepts.
The Outliers – Good case studies of management approaches; importance delegating and creating empowered people.
The Black Swan – Not a top book, but an interesting book.
The Real Warren Buffett – Fascinating, takes two key concepts of Buffett, capital allocation and leader of men.
Source: Don Yacktman video below