Reasons not to hang up on RIM

AGF's Martin Hubbes cites rapid growth of smart-phone market.

Sonita Horvitch 3 November, 2010 | 6:00PM

 Martin Hubbes, chief investment officer of AGF Investments Inc., says that despite naysayers, he remains a strong supporter of the Canadian wireless-device maker Research in Motion Ltd. RIM.

A conservative growth manager, Hubbes recently added to RIM in his flagship AGF Canadian Stock. "The stock pulled back to below $50 and I used the opportunity to boost the holding to 3% of the portfolio, which is roughly half the weighting that I have in technology."

RIM's BlackBerry smart phone is losing some market share to rivals such as Apple and Google's Android smart-phone platform. Even so, "the company is still growing at a good pace," says Hubbes. "The reason is that the whole smart-phone market is expanding so rapidly," he says, "in contrast to many industries where it is tough to find growth."

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Sonita Horvitch

Sonita Horvitch