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Fairfax CEO and RIM board member Prem Watsa Doubles Stake in RIM

Good morning everyone!  News is emerging this morning that RIM Board Member and Fairfax Holdings CEO, Prem Watsa, has  doubled Fairfax Holdings stake in RIM to the tune of 9.9%, up from 5.1% in January.  There is a nice writeup at the Globe and Mail about his doubled investment. That makes Fairfax Holdings the largest known investor in RIM and is making people wonder what he knows that they might be missing. Prem Watsa is definitely putting his money where his mouth is. This larger stake is almost the same as RIM’s founding CEO’s combined as of February where each owned about 5.1%.

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  1. As long as they launch in January they will be fine.

    • I don’t think RIM will tolerate any more delays — neither will their shareholders. They know this is their last straw. I don’t think Thorsten will fail us here.

  2. Prem is also on the board, I suspect he knows RIM very well.

    Maybe I should double down on RIMM!

  3. Why is EVERYONE keep suggesting that RIM had co-founding CEOs? Sorry, BBA Brian but I hear the same nonsense on TV all the time. Mike L founded the company on his own in 1984. Jim B came on board in 1992, and Mike L was kind enough to give him half the business and co-CEO status.

    • yes you are right, but, I think its more of a reflection of the Blackberry brand as opposed to RIM.

      Jim started with RIM in 1992 and Blackberry started in 1999

      at least thats how I see it

      but technically you are right

  4. Mike L was the brains behind RIM; however, Mike felt he needed a real business person to sell their way to success. Jim B fit that role at the time.

  5. The more I hear about bb10 the more I think it will be competitive (not in the US at first, but it will come along – as RIM says it is a platform for the next 10 years). Also I don’t think they will be caught flatfooted again. Lesson learned.

    The only place where I see a RIM fail is tablets. BB10 will be great but any business person that doesn’t buy a MSFT tablet must have a screw loose.

    • I wouldn’t count the PlayBook out just yet, especially if they receive the OS update that BB10 provides and the marketing campaign goes into high gear.

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