The headline this week actually should have read, "Watsa increases his shares by 33%." A poster named Pancho on Stockhouse posts a list of "Top Institutional Holders" from cnbc, which shows that a second company controlled by Prem Watsa called "Hamblin Watsa" owns 5.1% of RIM shares. See RIMM - Stock Quote for Research In Motion - RIMM Stock price - real time stock quote for Research In Motion .
So, Fairfax did indeed double its holdings to 9.9% of total shares, but Hamblin Watsa held steady to its 5.1%. All in all, Watsa, Lazaridis and Balsillie own 25.8% of the shares. At $7 a share, they could buy a controlling interest in the company with a "mere" $1.2 billion. Scary news, or exciting news?
Go figure, CNBC was wrong... I am excited to see what is going to happen with 3 people owning over 25%. It is a fairly unique situation, especially with the changes that RIM is going through. The question that keeps on going through my mind is, what does Watsa know?
Cool. He's a long player.
Not sure yet that mixing his position with Lazaridis and Balsillie has any sense, unless the 2 ex also double down ... then it might open the road to "private" (speculation and/or fantasy).
