Nelson Obus invests in 2.1 million shares of Struggling Handset Business

nelson_obus

 

No, not Apple. BlackBerry…sillies.

Sounds kind of funny to hear it described that way now, and you don’t hear it anymore do you? What a difference a year makes.

So who is this foolish investor?

Nelson Obus is the co-founder Wynnefield Capital, a value-based hedge fund based in New York. Since its inception in 1992, Obus has consistently posted double-digit returns for his clients. Today, he’s one of the most respected investors in the world.

According to recent SEC filings, Obus has been building a position in BlackBerry. As of September, he owned about 2.1 million shares of the former tech giant. At the time, that represented his eighth largest position and nearly 10% of his total portfolio.

Blackjack

I am a long time BlackBerry user and fan. Beginning with the 7520, I have recognized the value of subtle productivity enhancements in BlackBerry devices for business communication and have never since strayed. Even when the iPhone took the market by storm, I was unimpressed, because it did nothing to help my business needs. Currently enjoying my one handed dream phone, the Classic! BB10 with a toolbelt! Today I contribute to UTB whenever I feel that I can help enlighten someone on the benefits of using BlackBerry over any other platform.

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