Brookfield Asset Management Inc (A) (BAM.A.TO)

A huge asset management company. They are across the world and have various sub funds that are quite attractive at various points in time. Looks at this as an almost “trading” situation. Right now he sees it going sideways. One of the problems is that you are dealing with a company where you are never sure what they are going to do next. Very smart management and have been very successful. When he thinks it is cheap, he will step into it.

It is not particularly cheap at the present time. The market doesn’t really understand most of what they do. The stock has been holding up, 1.5 times book value, but earnings have not kept up with the stock price. He does not see the value in this company. 1.3% dividend.

Exposure to several downstream entities. Good exposure to inflation protected cash flows. The fee income from their assets is increasing. This should cause the stock to get re-rated and move higher. There is significant upside in the next 12 months.

(Market Call Minute) They continue to be very good value players and good financial structurers.

If you don’t own, any point is a good entry point because it is a “must own” company for Canadian investors. The smartest management group of any Canadian public company, and has the most interesting prospects going forward.

This is the one that collects all the fees, and as a general rule, you should follow the money. They just spun off their private equity division, Brookfield Business Partners (BBU-T) which is something he would add a little of.

One of his biggest holdings and he is happily buying it. It has exposure to the UK and Europe, but doesn’t think there is going to be any impact to its business operations. The smartest investors he knows and will probably use their beautiful balance sheet to make wonderful acquisitions going forward.

A very complicated structure with this as the main portion and all the offshoots down below. His view is that money will always flow to the top. They have raised a lot of money. Their operators have been in place for a long time. Very good at what they do. For the long-term, you could certainly own this.

Had always thought of this as a high-quality stock and one that you always want to buy on the dips. Over the last few weeks, it went from being included in the financial sector and one of the main indices, but then got removed from a global REIT index, which created more flow out of the name.

A great company. On this downturn, take the opportunity to buy more. Financials are under pressure which is not helping them. It will come back.

Has a big holding in this. They have an incredible and expanding footprint, and considered by many to have a great management team.

He is a long term investor. If the stock goes down and he gets more cash, he will buy more. He believes they will be generating a lot more cash flow in 5 years.

He likes this company. Bruce Flatt has done an amazing job of managing an extremely complex company. He prefers being at the parent level, where management is pulling the strings. It can look expensive, but continues to do very well.

He likes this. They are very smart and understand allocating capital in the right way. Have done a very good job of narrowing the gap between the NAV and the underlying assets. They’ve been very good at looking at the environment, and taking opportunities when things were really bad.

It has a reasonable correlation to the economy. He believes the volatility will be higher. It will probably go back to the bottom of its recent range around $38. Then it might be a good time to get it.