Munger Mode rating: 2 out of 5 — Sell. Our own rating from the research report below, on business quality first: moat durability and management, with price separating the top three.
Research Date: June 25, 2026 Current Price: $8.62 (up ~133% year-to-date; 52-week range $3.12–$10.93) Written in the first person by Warren and Charlie. We confine ourselves to the regulatory filings, the earnings calls, the competitive record, and today's quoted price. We hold no view borrowed from anyone else's portfolio — only our own arithmetic and a lifetime of watching businesses succeed and fail. Charlie likes to say that you can't make a good deal with a bad person, and you can't make a good investment in a mediocre business at a wonderful price — at least not the kind of investment that lets you sleep. BlackBerry is a fascinating object of study precisely because it is neither all good nor all bad. Buried inside this company is one genuinely excellent franchise — QNX, the embedded operating system that runs the safety-critical brains of a quarter-billion automobiles.
Recent filings analysed: 8-K (2026-06-25), 8-K (2026-06-25), 10-Q (2026-06-25), 10-Q (2025-12-19).
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