According to media reports, Prem bought big into Blackberry way back when the shares were going up up up. Some reports peg his average purchase for his 10% BBY stake in the $30 a share range.
If that's the case, Prem is down a good billion or so on his Blackberry file.
Just as we predicted here yesterday, Mr. Watsa has moved on Blackberry, at the shamefully opportunistic price of nine bucks a share.
I guess it's not that shameful if you've got a 10% stake that you paid more for than what you're buying the other 90% for today.
But there is no reason to let Prem walk away with the company at nine bucks.