Yesterday there were a few stories written in the business media about how Prem Watsa of Fairfax Financial, nearly doubled its stake in RIM. Regulatory filings show that Fairfax is now a 9.9% shareholder in RIM, up from the mid 5% level previously.
For those who don't know, Watsa also sits on the RIM board of directors. He joined the board in January of this year. He's been called "Warren Buffet of the North", and he has quite the reputation for making brilliant market calls such as selling equities in advance of the 1987 crash, and buying credit default swaps on bonds prior to the subprime disaster of 2008.
Given that this guy already took a large stake in RIM when he joined the board, one has to wonder what he knows about RIM's plans in order to justify his return to the trading desk to double down on the stock. As a board member, he is privy to plenty of insider information. When insiders buy, it is usually viewed as a bullish sign to outsiders..............................................
http://crackberry.com/does-prem-watsa-know-something-we-don%E2%80%99t-about-future-rim