What’s the probability that Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) will make a full recovery? It’s about as likely as walking outside and just randomly finding an elephant, according to Donald Yacktman.

BBRY Blackberry Research in Motion

Small Chances At Recovery For Research In Motion Ltd (BBRY)

Speaking on CNBC, Yacktman Asset Management’s Donald Yacktman expressed his view that the BlackBerry maker’s chances at recovery are slim, although not completely nonexistent. Barron’s contributor Tiernan Ray pulled some interesting comments from Yacktman’s interview on CNBC about Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s position right now.

Yacktman says his fund had a large position when the stock was less than $7 per share and “sold all of that and then some” at $13 per share and again at over $14 per share. According to Yacktman, the company’s stock situation is just too unpredictable right now.

Investing In Research In Motion Ltd (BBRY) Is Now Unexplored Territory

“Think of it like drilling a wildcat oil well,” he told CNBC. “You want to spread your risk. We have a very small position in this company. It’s a matter of probability. I might walk outside and find an elephant, but I wouldn’t put a high probability on it.”

Yacktman advised that investors watch and wait to see what happens with the struggling BlackBerry maker. For those who are unfamiliar with the reference to wildcat drilling, it basically means going out into unproven territory and drilling in an area that has not previously been explored as a possible site for gas and oil drilling.

Today’s Annual Meeting For BlackBerry

Today is finally the big day for Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) as investors gather for the company’s annual meeting, and the company has plenty to prove. There’s a chance that some of the biggest shareholders will pressure management to reexamine options like selling off the company piece by piece. Also shareholders are expected to vote and approve the official change from Research In Motion to BlackBerry

Shares of the BlackBerry maker rose as much as 1 percent in pre-market trading at the NASDAQ ahead of the company’s meeting.