Prem and leob just sold a bunch of their BlackBerry shares. Should us small fry shareholders be worried? Do they know something we don't, or is it just hedging?
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Prem and leob just sold a bunch of their BlackBerry shares. Should us small fry shareholders be worried? Do they know something we don't, or is it just hedging?
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where do you see this at?
Actually a company just purchased 11.2 million shares! Wonder what's up with that?
Q10 with Telus on 10.3.0.296
http://m.theglobeandmail.com/report-...service=mobile
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@ re, source please
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I'm holding onto mine until they soar or bust! Either way I'm all in.
Me too, but just thought this was interesting and wanted to hear from others like yourself
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eh, i wouldnt read to much into it at this point.
Someone posted about this on another thread (can't seem to find it), and it was determined that it's possibly due to a re-balancing to stay within some predetermined parameters.
EDIT:
Here's a link to Fairfax Financial's most recent annual letter to investors (PDF)
Fourth paragraph on page 8 sets out their intention to sell stock for the purpose of rebalancing their position.
I believe you are correct on watsas case. Fairfax cannot go above or below a certain ownership percentage for a stated period of time. I am not sure the timeframe. Prem is generally very patient, and I believe he is in for the long haul. Prem also owns around 500 million in debt.
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Yes this is actually very old news, its just a rehash by shorts to stir the pot.
Fairfax is under obligation to own only a certain %of BB stock, this was agreed upon when the debenture's where issued in November. Fairfax is still very long, as for Loeb he and Fairfax got a thing so who cares what this guy does!
Loeb bought a 10M share position in calendar Q4 2013. A small position for his large hedge fund, but a position that garnered attention because of Loeb's history with Watsa (Loeb went after Fairfax and Watsa later sued, lots of dirty games, reads like a crime novel).
Anyway, yes Loeb unloaded his position in Q1. He bought near the lows last year and probably sold for a fast gain. Hard to pass up for a hedge fund. I wouldn't be surprised if he is adding again now.
Based on today's after hours trading, the market has already decided that this is a non-event.
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Point 72 (formerly SAC) just bought 11.2 million shares...for every seller there is a buyer
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Looks to be a good day to buy....
I threw some in last year. Just letting it ride but this is half what I paid then.
consider your self ahead of the game since i am sure most people got in at 5-7 times what its going for now
Sorry - I HOPE there is a turn around and you and others will be rewarded for your patience. I would have been tempted to sell a $10.50 a few weeks ago.
But the prevailing theory in some threads, is that if you just keep buying eventually your average cost will wipe out any losses... :confused:
I only put in what I was willing to say bye bye to
That's an over simplification but it's more or less true. For example I had purchased originally at 15.51, shortly after there was a large decline. It will be a while before we see 15.51 again, but I averaged down by doubling my position at 7.52(ish).. that now brings the total cost average of my shares to 11.56, which we did hit a few months ago. I could have sold then and actually made a few dollars even though we were far below the price of my initial investment, but I remained long. If I had the extra cash to burn I could double my position again at today's price (TSX) 7.88 +11.56 / 2 would bring me down to 9.72 a share.
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I believe the previous commenters are right about Watsa. I would also like to add that he made some other stock purchases as well this quarter, and considering that BBRY is one of his largest holdings, he probably used some of that money to fund those investments.
Loeb on the other hand I'm not sure about. Maybe he thinks he got in too early? I think he might have settled with a modest 10% bounce and then bounced. I think most people are confident blackberry will get out alive but aren't willing to risk holding the bag for the next year until positive cash flow.
I really feel for the people who have been holding this stock from 20 and above. Honestly, if it's a long term investment, I would keep it that way because most tech stocks are prone to these huge swings. One of the most comforting things about the new CEO is that he seems to have a lot of pride but also rationality. I don't think he'd sign up for a company he wouldn't be able to turn around. The only thing I do not like is that he is commuting from California which shows that he's not really invested for the long term but considering he probably still is an interim CEO, I suppose I can understand.