We still find ourselves amused that the name of the BlackBerry vendor is Research In Motion (RIMM). Based on its performance since last year, we believe that the parent company’s name is false advertising, or at least if you have been long RIMM’s stock during that time. We believe that “Research in Immobility”, or “Research in Regression” would be more apropos, considering RIMM’s rapid revenue declines and swing from profitability to loss. We think that even Blind Willie Johnson can see that Research In Motion is in deep trouble. We think that although Buffett disciple Prem Watsa of Fairfax Financial (FRFHF.PK) has doubled down on the company, investors should not follow his lead. Even Watsa believes that it will take 3-5 years for Research in Motion to right the ship.
In the technology sector, 3-5 years is a lifetime. In 6 years, Apple (AAPL) has introduced 5 iPhone smartphone models and is planning on introducing another one on September 12. Apple has introduced 3 iPad tablet computer models as well. We suppose that Apple’s last three to six years has been a lot more productive than RIMM’s last three to six years. Here are the accomplishments of RIMM’s management during the same time period.
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