By Cameron French TORONTO (Reuters) - Struggling smartphone maker BlackBerry Ltd is a good long-term investment that is being unfairly punished by the stock market, the chief executive of the company's top shareholder said on Wednesday. "We think over time BlackBerry is going to do well," Prem Watsa, CEO of Canada's Fairfax Financial Holdings, which holds about 10 percent of BlackBerry's shares, said at Fairfax's annual general meeting in Toronto. Watsa, who has built a reputation as a shrewd value investor through winning plays such as his bet that the U.S. housing market would fall into crisis, has built up Fairfax's BlackBerry stake over the past three years. Fairfax sought partners last year in a $4.7 billion bid to take BlackBerry private, but abandoned the plan after its due diligence showed BlackBerry could not handle the large debt load it would have to take on in such a deal.



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