November 4, 2013 Comments

Stocks were up a bit more today… S&P 500 up 0.4% and Toronto up 0.2%.

Blackberry / Research in motion caused some entertainment and grief in the markets today with a 16% fall. I have no idea what it is worth or what its future holds. Might be worth throwing a (very) small amount on it just for the entertainment value. Presumably Prem Watsa and Fairfax financial have some clue that it is worth more than the current price. It’s probably best to focus on more predictable companies. It seems rather disgusting that this CEO Thurston Heins gets a reported $20 million exit fee. All in all he got a nice pay cheque in return for doing apparently nothing much good and perhaps a lot of bad.

If you read the press release from the company including the title, it seems pretty apparent that the company is completely delusional. The financial press took this as “Fairfax buy-out is off” whereas the press release is titled Blackberry receives investment of a billion… Just read the press release and you can see how delusional the company is. Amazing.

http://press.blackberry.com/financial/2013/blackberry-receives-investment-of-u-s—1-billion–from-fairfax-.html

On third thought. I don’t think I would touch this thing even for the entertainment value. Sure it may bounce up, but I don’t want to get involved with this kind of management.

Constellation Software was out with excellent earnings today after close. I will look to update this report soon.

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