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

BUY
Likes. Involved with the infrastructure side of business. High-quality assets.
DON'T BUY
This company's balance sheet doesn't pass his solvency test. When you look at the balance sheet relative to its earnings, is model price is $35.90, a negative 42% differential.
TOP PICK
All the assets they have are long-term inflation hedges. Has emerging market exposure in Brazil.
DON'T BUY
Good looking chart. It is now at a fair premium to asset value. It would retreat to asset value in a down market.
BUY ON WEAKNESS
Conglomerate with real estate, power generation, infrastructure, timberland, etc. Stock has been on fire. It is restructuring and difficult to value. Would buy in the lower $60’s. If you have the patience, you could buy now.
BUY
Unique in its focus on infrastructure assets, which is a hot area of investment. There are focused on cash flow generating assets.
BUY
An issue over the last year or so was how much they could convert into additional assets under management. They did an excellent job. They are on the short list for a number of deals that could clearly grow the company.
HOLD
Stock is fairly valued. An exceptionally well-run company. Management team are great capital allocators. Good long-term hold.
BUY
Gives the investor exposure to asset structure and management which they average investor wouldn't have access to. Great holding. Long-term hold.
PAST TOP PICK
(A Top Pick Jan 9/06. Up 42%.) Continues to like it.
COMMENT
Made an expensive acquisition and to help pay for it, issued $30 million of shares. Excellent well managed company. Has had a good move and could be a time to take some profits.
BUY
Has a little more upside potential. Real estate stocks in Canada have a tremendous amount of momentum.
BUY
A very large leveraged buyout occurred real estate in the US yesterday. This indicates that interest and value in real estate continues to grow. Good track record.
WEAK BUY
Doesn’t like dual class stocks where management has one group of shares, controlling the business with a tiny slice of the equity. Have done a great job. Likes their long life predictable assets of power generating facilities.
BUY
An excellent company. Operate in real estate, power plants and financial assets. An excellent way to participate in real estate and infrastructure.
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