Blackberry, I believe.
Maybe it's because I lived in Cambridge for 20 years and its proximity to Waterloo, Ontario (aka. Blackberryland) brainwashed me. Maybe it's because I have bought and sold Blackberry stock twice over the past 10 years and came out ahead. Or maybe it's simply a case of believing that you can't keep a good product or idea down.
Currently into round three of my love affair with Blackberry stock, I'm bleeding money. I bought the stock at a higher rate than it's current $10-$11 per share (OK, a whole lot higher) and my investment portfolio has been tanking for the past six months.
But give up on Blackberry? Never. In fact, I might just purchase more of the volatile stock.
Why? Because I believe.
I believed in Blackberry when it was created by engineering students Mike Lazaridis and Douglas Fregin in 1984 and was called Research In Motion. In 1992, Lazaridis hired Jim Balsillie. The Harvard Business School graduate became the money man behind the name and was the missing piece to a winning puzzle. And win, they did.
The development of the Blackberry device was revolutionary and legendary. The phone became an icon of our society. It was untouchable, unstoppable, even President Barack Obama couldn't live without his Crackberry.
Then it all fell apart. The team took its collective eye off the prize. Research In Motion got fat, lazy and … well… motionless. It laughed at the competition and failed to come up with that next big idea - a lethal mistake in the world of technology.
So, what makes me still believe? New CEO John Chen has got Blackberry back in motion. Granted that the smartphone market has been lost, Chen is looking outside the box and tapping into new ideas and new technology. Chen is moving ahead in his own direction rather than trying to catch up to the rest of the pack. He has surrounded himself with seasoned execs who don't have to work, but want to work.
Blackberry is too great of an idea (and ideal) to be broken up and sold off like some aging luxury ship past its prime. It deserves to survive, prosper and win.
And it will do that, believe me.
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