Thursday, May 3, 2012


There has been no more pivotal point for RIMM than it faces today.  Way too cliche to even say anything about being on the "rim", Research in Motion stands atop a pile of subscribers, scrambling to retain them with edgy products that're merely playing catchup.  Similarly, I've been in and out of near-term 2012 RIMM Puts trying to play catchup with a market that's been pushing the company down from Mt. Olympus since July of 2008, not allowing the global recovery to (barely) affect RIMM's Belerophonesque plunge.  My catchup plays have been about as eventful as RIMM's ability to combat the AAPL/iOS juggernaut.

As Tamara Rutter reports on in "What Blackberry 10 Really Means for RIM" the introduction of the Blackberry 10 at the company's annual partner conference is met with mixed emotions: those stuck in the Triassic with their love of a physical keyboard (guess you can figure the colors I fly) dissed the keyboard-less demon, while AAPL, Samsung and Motorola licked their chops, ready to attack via their respective IP law firms a competitor who may or may not have paid for the relevant technology licenses.  Ms. Rutter points up the historical nature of RIM as "innovative", yet it took them 3 years to produce this tablet phone.  While we can all see the mass of Microsoft's ocean liner that gives seasoned captains the world over the willies in figuring out how to steer the behemoth, RIM's relative tiny size seems like a PT-boat pulling a submerged iceberg (which is probably the combination of their installed base with their proprietary network).

I closed out my Puts today, figuring I'd just take the friggin loss and stop trying to guess what this silly company was gonna do next--therefore didn't jump on the potentially cheap Calls that beckon if the 10 is RIMM's savior.  The touch-screen 10 may save them, but are there content and apps ready to wow the public?  Does their tablet phone have a halo device, ready to serve the function of AAPL's iPhone vis-a-vis the Mac computers?  I truly think that RIMM has bit the dust, is beyond the event horizon, but there are far easier ways to make money than trying to be a Phillip Falcone with RIMM.


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