Research In Motion Ltd. (RIMM) shareholder Fairfax Financial Holdings Ltd. (FFH) practically doubled its spot in the BlackBerry developer, making it RIM's most significant investor as well as providing a vote of self-confidence on the ailing Canadian corporation.
Fairfax, an insurer operate by Toronto-based buyer, Prem Watsa is now RIM's biggest shareholder, holds 51.9 million RIM equities, according to a regulatory filing today. It organised 26.8 million shares by April 1, in accordance with data published by Bloomberg. The firm increased its spot to 9.9 %, value about $351 million.
RIM stocks have tumbled 95 percent off their 2008 optimum as falling product sales of BlackBerry mobile phone handsets erode RIM's industry share with a market it as soon as focused. A recovery at RIM, which has misplaced shoppers to Apple Inc. (AAPL)'s iPhone and also gadgets created on Google Inc. (GOOG)'s Android software, may consider three to five many years along with the BlackBerry maker's stock is overlooked, Watsa stated in April. He joined up with RIM's board in January as a part of a management overhaul that incorporated the substitute of co-founders and also co- CEOs Jim Balsillie and Mike Lazaridis with German-born CEO Thorsten Heins.
Watsa's choice to double down on RIM had him previous Lazaridis plus Balsillie in addition to Primecap Management to grow to be RIM's largest investor. He boasts a background of creating contrarian bets, acquiring predicted the downfall of U.S. banking institutions linked to the collapse with the subprime mortgage loan marketplace. Fairfax's revenue before one-time objects reached a record $1.69 billion in 2008 since the company's bet on credit-default trades on U.S. banking institutions and even insurers settled.
Fairfax History
Prem Watsa set up Fairfax in 1985, modeling his supervision fashion after billionaire value investor Warren Buffett, who acquires the financial assets of out-of-favor securities.
Watsa, a long-time good friend of Lazaridis, explained in April he's convinced RIM will change its fortunes in the approaching years.
"All you can do as a member of the board will be to have them place emphasis on the long-term, really don't 2nd guess the administration," he stated at the time. "In Thorsten Heins, they've received wonderful administration."
RIM obtained 1.3 percent to $6.86 at the close in New York. The Waterloo, Ontario-based company's stock has shed 53 % this year. Is RIM is trying to make a comeback?
Fairfax, an insurer operate by Toronto-based buyer, Prem Watsa is now RIM's biggest shareholder, holds 51.9 million RIM equities, according to a regulatory filing today. It organised 26.8 million shares by April 1, in accordance with data published by Bloomberg. The firm increased its spot to 9.9 %, value about $351 million.
RIM stocks have tumbled 95 percent off their 2008 optimum as falling product sales of BlackBerry mobile phone handsets erode RIM's industry share with a market it as soon as focused. A recovery at RIM, which has misplaced shoppers to Apple Inc. (AAPL)'s iPhone and also gadgets created on Google Inc. (GOOG)'s Android software, may consider three to five many years along with the BlackBerry maker's stock is overlooked, Watsa stated in April. He joined up with RIM's board in January as a part of a management overhaul that incorporated the substitute of co-founders and also co- CEOs Jim Balsillie and Mike Lazaridis with German-born CEO Thorsten Heins.
Watsa's choice to double down on RIM had him previous Lazaridis plus Balsillie in addition to Primecap Management to grow to be RIM's largest investor. He boasts a background of creating contrarian bets, acquiring predicted the downfall of U.S. banking institutions linked to the collapse with the subprime mortgage loan marketplace. Fairfax's revenue before one-time objects reached a record $1.69 billion in 2008 since the company's bet on credit-default trades on U.S. banking institutions and even insurers settled.
Fairfax History
Prem Watsa set up Fairfax in 1985, modeling his supervision fashion after billionaire value investor Warren Buffett, who acquires the financial assets of out-of-favor securities.
Watsa, a long-time good friend of Lazaridis, explained in April he's convinced RIM will change its fortunes in the approaching years.
"All you can do as a member of the board will be to have them place emphasis on the long-term, really don't 2nd guess the administration," he stated at the time. "In Thorsten Heins, they've received wonderful administration."
RIM obtained 1.3 percent to $6.86 at the close in New York. The Waterloo, Ontario-based company's stock has shed 53 % this year. Is RIM is trying to make a comeback?
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