Research In Motion's introduction of its new BlackBerry 10 operating system, along with two new smartphones, could be positive for the company, Don Yacktman said Wednesday on CNBC.
"It looks very promising," said the president and CIO of Yacktman Asset Management, which has $21 billion under management.
On "Fast Money," he said that his son Steve had characterized the purchase of RIM stock below $7 as "dumpster diving."
"This is a little bit like drilling wildcat oil wells," he said. "We look at forward risk-adjusted rates of returns, and this one has a very wide range of potential outcomes."
Yacktman didn't explicitly say where he believed the stock would be headed.
(Read More: RIM's 'Show-Me Time': Jon Najarian)
Regarding the overall economy, he did say that dividends are providing a tell, noting that they are approaching the level of long-term Treasuries.
What that shows, Yacktman added, was that Treasuries are "overpriced."
Asked to respond to activist investor Bill Ackman's criticism of Procter & Gamble CEO Bob McDonald last week, Yacktman said he had met with McDonald.
"I see him as a solid guy," he said.
Yacktman's top five holdings include: News Corp., P&G, Pepsico, Cisco and Sysco.
Trader disclosure: On Jan. 30, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long AAPL CALLS; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long YHOO CALLS; Pete Najarian is long RIMM; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long DELL; Pete Najarian is long PEP; Brian Kelly is long QQQ; Brian Kelly is long XLK; Brian Kelly is long GLD; Brian Kelly is long SLV; Brian Kelly is long EURO; Brian Kelly is long JJG; Brian Kelly is long CORN; Brian Kelly is short EWY; Brian Kelly is short JGB; Jon Najarian is long WFT calls; Jon Najarian is long PSX calls; Jon Najarian is long RLI; Jon Najarian is long MAN; Jon Najarian is long TBT; Jon Najarian is long MGAM; Jon Najarian is short puts in FB; Enis Taner is long GS; Enis Taner is long AAPL; Enis Taner is long FB PUT FLY; Enis Taner is long AMZN PUTS; Enis Taner is long COP; Enis Taner is long SPY PUTS.