-- Bought Research In Motion (RIMM) around $7 and made good gains and now have been trimming the position.
-- This was a more speculative bet with number of probable outcomes. but we did dumpster diving as forward risk adjusted return appeared to be favorable.
-- RIMM business going forward: value side which we saw before, cash, patents and subscriber base.
-- All these good things are baked in the price now and it is now on business if BB10 does well the stock will go up else RIMM will need to sell.
-- On face of it RIMM BB10 looks promising: Now managing $21 billion in assets.
-- It is fun to talk about economy and politics but at the end of the day this business is all about what you are buying and what you are paying for it.
-- We cannot control the wind but we can set the sails, so look at businesses one at a time.
-- Thinks very large, very profitable business are most attractive given that their dividends have approached that from U.S. treasuries. Which also tells that U.S. treasuries is overvalued.
-- Differ with Ackman's view on Procter & Gamble (PG) CEO Bob McDonald. Thinks Bob is solid operating guy to run the company.
-- Besides, PG is not a place to be an activist.
Credit and Source: www.cnbc.com, CNBC
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