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  1. W Hoa's Avatar
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    Default [Article]Prem Watsa, has already made a bundle on RIM

    It 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.
    More @

    http://www.cantechletter.com/2013/01...le-on-rim0124/
    Last edited by W Hoa; 01-24-2013 at 06:35 PM.
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    G-bone (01-24-2013),  zyben (01-24-2013) 
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  2. Bold_until_Hybrid_Comes's Avatar
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    And lot of people are going to make a bundle on RIM
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  3. howarmat's Avatar

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    i think he was averaged around $19 so he isnt making it back yet.

    and your link is not the correct article im guessing...
    ~Matt
    Nexus 5, Z10 LE, White Lumia 521, 32GB Nook HD+ & 16GB PB, 32 GB Dell Venue 8 Pro
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    W Hoa (01-24-2013) 
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  4. W Hoa's Avatar
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    Default

    Quote Originally Posted by howarmat View Post
    i think he was averaged around $19 so he isnt making it back yet.

    and your link is not the correct article im guessing...
    Woops....corrected. Thanks
  5. howarmat's Avatar

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    i take it back it looks like he is averaged out around 17
    ~Matt
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  6. BaconMunch's Avatar
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    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.
  7. kfh227's Avatar
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    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.

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