1.25 million shares of RiMM

[reden82734]

Leon Cooperman new stake in RIMM 1.25 Million shares! Does he know something? Hold Rimm Shares!

[RollingRock1988]

Link? Source? Details?

Who is this man and why is he significant?

[Jake-44]

Hedge Fund position as of Sept 30, 2011 -

Leon Cooperman's Omega Advisors hedge filed its 13F for the quarter ended September 30, 2011. The firm showed 59 positions worth $3.4 billion at the end of the quarter, versus 70 worth $4.4 billion at the end of June.

Notably the firm showed news stakes in McGraw-Hill (NYSE: MHP), Microsoft Corp (NASDAQ: MSFT) and Research In Motion Ltd (NASDAQ: RIMM), among others. The firm also raised its stake in eBay, Inc. (NASDAQ: EBAY) and E&Trade (Nasdaq: ETFC). They sold out of Ford (NYSE: F) and cut their stake in United Continental (NYSE: UAL) was cut sharply.

[howarmat]

Leon Cooperman Buys New Stake in RIM - Deal Journal - WSJ

[princesultan]

interesting...

[WinningWithLogic]

Originally Posted by howarmat

Leon Cooperman Buys New Stake in RIM - Deal Journal - WSJ

According to this, the guy also took positions in Microsoft, Qualcomm, and doubled his holdings in Apple. In other words, he's just making a diversified investment in the smartphone/mobile market. Nothing to see here folks.

[timberdc]

Still, closing at 17.58 (-2.60) It's going to be interesting times, for sure.

[Blacklac]

Originally Posted by WinningWithLogic

According to this, the guy also took positions in Microsoft, Qualcomm, and doubled his holdings in Apple. In other words, he's just making a diversified investment in the smartphone/mobile market. Nothing to see here folks.

He also seems confident RIM will be around and also make some money for him. I could be wrong, but I think this post was to quiet/combat all the "RIM is going to fail" comments.

[Rickroller]

Originally Posted by Blacklac

He also seems confident RIM will be around and also make some money for him. I could be wrong, but I think this post was to quiet/combat all the "RIM is going to fail" comments.

Well as the stock continues to drop I don't see those types of posts going anywhere yet..and in fact will only fuel the speculation of potential hostile take-overs.

[scalemaster34]

Big difference in thinking that a stock has reached bottom and that someone would buy it out (in whole or for the parts) and drive the stock up for a quick profit. From thinking that a company has a great product that would increase a companies sales and drive stock up.

[OMGitworks]

Originally Posted by reden82734

Leon Cooperman new stake in RIMM 1.25 Million shares! Does he know something? Hold Rimm Shares!

Yes he does show he knows something - how to lose 6-10 million dollars in about 45 days. Brilliant.

[njblackberry]

Leon Cooperman's network worth is around $1.5 billion.
I'd say he knows a bit more about investing that you do.
Likely doesn't panic easily and does his homework.

[WinningWithLogic]

Originally Posted by njblackberry

Leon Cooperman's network worth is around $1.5 billion.
I'd say he knows a bit more about investing that you do.
Likely doesn't panic easily and does his homework.

I agree. I actually think there is quite a lot of merit too in the thinking that RIMM is currently oversold and should be valued higher.

[Kekus]

In about a month we'll all know - The report mid December. I increased my ownership of RIM today as the price slid further. Crazy, maybe, but given there was no news, good or bad, for RIM, the price drop today is either linked to insider trading, which is very unlikely, or speculation. Given RIM is a favourite target of the media, I'm voting speculation.

Last quarter RIM projected a 27% - 37% increase in phone shipments at a time when it just finished launching the new products. The new phones were all well received. All indications are they are moving through the channels and selling through well. Given AT&T took almost 2 months to list it didn't help, but in the same breath businesses like mine have been actively upgrading the older, yet still functioning obsolete phones. RIM has not updated it's guidance to say it's missing it's numbers. It also ran several promos on the Playbook which likely helped to reduce it's inventory.

There are never any guarantees in life, but until another phone company can match RIMs security for government and corporations that consider security critical, they will have a revenue stream. RIM also continues to have the best smart phone technology for emerging markets - a place Apple has no interest in playing and poor battery life of other phones makes them less desirable. So here's hoping.

[OMGitworks]

Originally Posted by OMGitworks

Yes he does show he knows something - how to lose 6-10 million dollars in about 45 days. Brilliant.

Originally Posted by njblackberry

Leon Cooperman's network worth is around $1.5 billion.
I'd say he knows a bit more about investing that you do.
Likely doesn't panic easily and does his homework.

No doubt but up until a few weeks ago people would have said the same about his former Goldman Sachs buddy Jon Corzine. Don't underestimate the hubris of these type of guys. They aren't always right.