Investing

Research in Motion Has At Least One Believer (RIMM)

Prem Watsa, CEO of Canada’s Fairfax Financial Holdings Ltd., is the newest member of the board of directors for BlackBerry smartphone maker Research in Motion Ltd. (NASDAQ: RIMM). To demonstrate his faith in the company’s future, Watsa more than doubled…

By Paul Ausick
Published January 27, 2012, 10:52am ET · 1 min read

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Prem Watsa, CEO of Canada’s Fairfax Financial Holdings Ltd., is the newest member of the board of directors for BlackBerry smartphone maker Research in Motion Ltd. (NASDAQ: RIMM). To demonstrate his faith in the company’s future, Watsa more than doubled his stake in RIM during the fourth quarter. Watsa is now RIM’s fourth largest shareholder with about 28.85 million shares.

RIM shares are trading up 2.4% this morning, at $16.65. Since the end of September RIM’s shares are down about -18%.

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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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