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

TOP PICK
(A Top Pick March 19/10. Up 33.64%.) Based on a growth economy. Made a lot of acquisitions. Global assets.
BUY
Value stock with a growth profile. Likes what they are doing in Australia and their acquisitions during the recession. Participated in their recent financing.
DON'T BUY
Quality, diversified name. Asset management and real estate. One knock against them is their complicated structure – not always that readable by the analyst community. Since their run, is a little ahead of itself somewhat. We are overdue for some sort of correction/pull-back. Not one of his favorites.
TOP PICK
(A Top Pick March 19/09. Up 27.43%.) When there was so much trouble, they had $6 billion in cash. Have a global platform. Balance sheet is in great shape. Wonderful platform to grow on.
TOP PICK
Likes the way they diversified into global asset management. Good management. North America’s largest hydro producer. Tremendous portfolio of Class A real estate. Really a global asset infrastructure play.
BUY ON WEAKNESS
Raised a huge amount of money from their subsidiaries. Well managed. Smart management.
PAST TOP PICK
(A Top Pick Sept 3/09. Up 30%.) Classified as real estate but has global investments in communications, lumber, power generation, etc. Good place to get wide exposure. 1.8% yield.
PAST TOP PICK
(A Top Pick Sept 3/09. Up 20.58%.)
PAST TOP PICK
(Top Pick Aug 31/09, Up 20.51%) Just the greatest asset managers out there.
PAST TOP PICK
(A Top Pick Aug 10/09. Up 23.35%.)
PAST TOP PICK
Bonds 8.95% (Top Pick Jun 2/09, Up 21.68%) Recently Sold.
DON'T BUY
He likes their bonds but there is an inadequate selection of long-term bonds. He would not go too long on corporate bond, however.
COMMENT
Doesn't own the common shares, but in most of his fixed income accounts, he owns senior debt or preferred shares. Great capital allocators. Very cyclical financial because they are wholesale finance as opposed to deposit based finance. Expect the stock will continue to do well.
TOP PICK
7 Year Bond 5.29% 4/25/17. An investment grade company with good balance sheet. Bonds will earn that coupon rate in the next 12 months.
SELL
Brookfield Bond 06/2014. One of his favorite companies. Sell it and get one that matures at a later date. Lock in the capital gain.
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