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Ugh. I know Fairfax VERY well. Prem Watsa is often called Warren Buffett of the North, and he may very well be. He's a great investor, and has done VERY well
by mililani 13y ago
Ugh. I know Fairfax VERY well. Prem Watsa is often called Warren Buffett of the North, and he may very well be. He's a great investor, and has done VERY well in investing the float of their insurance business. But, BUT, I think he's way in over his head here. Buffett himself will not touch technology companies, or businesses he doesn't understand. He has also said the technology world is way too competitive, and that there is hardly a "moat" that can protect a business from competition, etc... I don't understand why Prem is going after Blackberry. It is clearly in one of the most competitive spaces in technology, and there is no good crystal ball to see what the future holds. I mean, for every Apple, there are lots of companies like US Robotics.
It is why I shy away from technology companies with my investments.
- mhartl 13y agoTo be fair, Watsa is a current RIM investor and a former board member. That suggests he probably has a good idea of what he's getting into.
- josefresco 13y agoOR.... he's biased into thinking RIM can "pull through" because of his existing close relationship with the company.
- Mikeb85 13y agoAnd yet Warren Buffett has invested in BYD (Chinese electric car and battery company) and done very well... Edit - I've also done well trading BYD :-)
- GFischer 13y agoIt's not only electric cars, they sell a full line of gas-powered vehicles, which sell a lot here in Latin America. Several people I know own a BYD car, and are reasonably happy. See their local pages: http://www.bydauto.cl http://www.bydauto.cl (Chilean page) http://www.byd.com.uy http://www.byd.com.uy (Uruguayan page)