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

When looking at this, you have to think of best in class. Infrastructure is a space that is longer duration in terms of a return profile. It should be a core holding for most Canadians. A tremendous franchise. You can tuck this one away and come back to it many years down the road and you will be thankful you bought it.

(A Top Pick Aug 12/14. Up 36.04%.) He likes the whole Brookfield group and the way they operate. This is one way you can put money outside of Canada, as a good amount of their assets are outside of Canada.

If you are a long-term investor, this has pulled back far enough. They have lots of things going on. Raised a good amount of equity they can deploy. Have holdings in their various infrastructure products office side of things. All of their money flows up to the top. A good deal of their assets, just shy of 50%, are fee generating.

This is worth a bit of a premium. A very well managed company. Have very effectively raised money time and time again to deploy in large infrastructure projects. Has a small position. If the price were to come off another 5%-10%, he would be buying more.

Smart management team. Proven executors. This is why they get a premium valuation. Not a cheap stock, but if you believe management will continue to discover opportunities to increase fee revenues going forward, it’s a good long term hold.

A little while ago this got a little expensive for him, so he cut back his position. This is exposed to the right things. Have a lot of assets outside of Canada and has some infrastructure assets. Excellent management. A good, long term company.

He looks for companies that have trustworthy and honest management and who have a lot of stake in the game. Also, looking for companies that have the ability to have a lot of capital reinvestment opportunities. He looks for companies that he can own and continue to buy at reasonable valuations. All of these criteria fit this company. Believes the sum of the parts is worth more than what the stock price is trading at and that the addressable market for the company is going to continue to grow, as more people and institutions are looking for quality infrastructure assets, especially in a very low interest rate environment. They work best in dislocated markets and there are a lot out there, such as Europe and Brazil.

Which Brookfield entities are buys? His favourite is probably Brookfield Asset Management. Good property portfolio in the US and he is bullish on US real estate. (See Top Picks.)

A really well managed company. If you can get this when it is off, it is a very good company. Good management team.

This is one of Canada’s greatest, along with several of the Brookfield names. It is all about management, execution and the ability to raise giant funds. Have a huge standing in the world at large.

His largest holding. You are letting them decide how to invest your money in real estate and they are very good at that. They have always been able to take advantage of other peoples terrible situations.

This has come off a little. They did an equity issue a couple of months ago, which was not well received. Trading slightly higher than what he thinks NAV is, but they have a great collection of assets. You can add to this on any meaningful pullback, like now.

Sold half his position at just under $50. This company is in a really good space. Good management team and a good alternative to the pure mutual fund plays. You could add to this anytime right now.

If you want to buy the Brookfield group, she would buy this one because that is where all the senior management hold stock, and they own about 20% of the company. It’s on her Watch list. This is probably an attractive entry point.

He likes the diversified platform. This is really a money management company with a bunch of drop down subsidiaries in Brookfield Infrastructure Partners (BIP.UN-T). Yields just under 5%. There may be some movement out of Brookfield Asset Management into Brookfield Infrastructure Partners. Thinks there is a bit of rotation out of financials. You could also look at Element Financial (EFN-T).