- CrackBerry Master
- 1,080 Posts
[Article]Prem Watsa, has already made a bundle on RIMIt seems they don’t call him “Canada’s Warren Buffett” for nothing.
When much of the world financial media was convinced that Research in Motion was destined to become the next PALM, Fairfax Financial’s Prem Watsa was using the deafening negativity as an opportunity to pile into the stock.
Watsa, who now sits on RIM’s board and was rumoured to be the mastermind behind the RIM management change of a year ago, became the company’s largest single shareholder last year, after dabbling in 2011.
In July, Watsa’s Fairfax Financial had to file a 13D (required because it had passed the 5% ownership of the company mark) that showed he owned 51,854,700 shares of the BlackBerry maker. The prices Fairfax paid for RIM before it hit the 5% mark is not public information, but July’s filing details each trade, and revealed that Watsa was loading up when RIM was in the $6-8 dollar range.
RIM closed Wednesday on the Nasdaq at $17.35.
Last edited by W Hoa; 01-24-2013 at 06:35 PM.
- 01-24-2013, 06:16 PM #2
And lot of people are going to make a bundle on RIMPhones:
Nokia 5110>Nokia 3360>Siemens C56>Moto RAZR>LG Chocolate>Pearl 8100>Bold 9000 >Pearl 9100 + Bold 9900 > iPhone 4S+ Z10 + Bold 9000
16GB Playbook> Playbook 32GB
CLICK HERE TO JOIN THE SEXY GIRLS IN YOGA PANTS CHANNEL
- 01-24-2013, 06:30 PM #3
i think he was averaged around $19 so he isnt making it back yet.
and your link is not the correct article im guessing...
- 01-24-2013, 10:43 PM #6
If the average share price in his holding is $17-$19 then he is already in range of analysts prices pre-BB10. That is quite the achievement, any success with BB10 including acquisitions is going to put him in double digit gains within the next few months. No matter the outcome, he is playing the right game.
- 01-25-2013, 12:41 AM #7
Onje of the underlings at Farifax publicly mentioned that people need to look at RIMM in terms of their entire portolio. It is TINY. If RIMM fails, it means nothing to Fairfax.
If it does not fail though, it will be a nice impact on their worth.
Perosonally. Overalll, I am up over 1000% thanks to my use of options.
- By jr4941 in forum News & RumorsReplies: 1Last Post: 04-26-2012, 04:48 PM
- By longhornfan1 in forum BlackBerry Tour 9630 ThemesReplies: 8Last Post: 03-07-2010, 01:45 PM
- By Card Storm in forum BlackBerry Storm2Replies: 11Last Post: 11-09-2009, 01:13 PM
- By warrior062 in forum BlackBerry StormReplies: 7Last Post: 11-20-2008, 09:17 PM
- By Mattsworld in forum BlackBerry StormReplies: 68Last Post: 11-03-2008, 05:47 PM