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Fairfax Holdings CEO Prem Watsa speaks at the annual general meeting for shareholders in Toronto.
Fairfax Holdings CEO Prem Watsa speaks at the annual general meeting for shareholders in Toronto.
(MARK BLINCH/REUTERS)

Fairfax CEO Watsa bearish on tech – except for BlackBerry

Canada’s most renowned value investor believes the market’s infatuation with Twitter and Facebook will “end in tears,” but sounded a new note of optimism about the outlook for battered BlackBerry Ltd.

Prem Watsa, chief executive officer of Fairfax Financial Holdings Ltd., has invested hundreds of millions in the smartphone maker and indicated it is on track to stanch its financial bleeding within a year.