Monday, September 23, 2013

Prem Watsa's Blackberry bluff

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.

No comments:

Post a Comment