james22

The skeptic might even suggest that the BlackBerry offer was made to drive Fairfax Financial Holdings Ltd (TSE:FFH) (OTCMKTS:FRFHF)’s shares lower for the buyback, only for it to decide against its acquisition. http://www.valuewalk.com/2013/09/fairfax-financial-plans-share-buyback/

My only reservation: the pessimism doesn't seem reflected in the P/B yet. Trades at 5% over its 5-year average P/B. Like giofranchi, I'm defensive and like FRFHF because of its cash and hedges. But LUK ("Fortress Leucadia") at 15% below its 5-year average P/B maybe the better position?

Pension funds cool to BlackBerry buyout overtures http://www.bnn.ca/News/2013/9/10/Pension-funds-cool-to-BlackBerry-buyout-overtures-Report.aspx

A TYCOON known as Canada’s Warren Buffett is closing in on a rescue deal for BlackBerry, the beleaguered mobile phone maker. Prem Watsa, an Indian-born chemical engineer who has become one of Canada’s most successful investors, has assembled billions in backing from the country’s biggest pension funds for a bid. BlackBerry hoisted the “for sale” sign last month. http://www.thesundaytimes.co.uk/sto/business/Tech_and_Media/article1310844.ece Shares down .24% at the open from up 2% after-hours.

...one thing that is clear is Watsa has bet big on BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) and failed. http://www.valuewalk.com/2013/08/prem-watsas-blackberry-ltd-bbry-investment/ Yeah, pretty sure the market won't like Prem extending his bet.

I like FRFHF at 1.1 P/B. But if Prem takes BBRY private, isn't the market reaction likely negative? (Markel bought Alterra and MKL dropped 10%.) Buy now at a fair price or wait until BBRY's future resolved?

Dhahran, Saudi Arabia