In a group that is performing very well right now. One of the nice things about asset management is that it tends to be really stable revenue. This company manages interesting types of assets that institutional investors are interested in. Not cheap.
3 companies, Brookfield Asset Management (BAM.A-T), Home Capital (HCG-T) and Kingsway Financial (KFS-T) have been great calls for the last couple of years and all 3, in the last couple of months, have started to show weaker characteristics. Most of it is probably due to higher interest rates and prospects in the real estate market.
A closed end sort of alternative asset management. Has large positions in the properties, hydro electric, timber. A little bit expensive. Would buy on 10% weakness.
Relative to the rest of the financials, it has been a standout in the last number of months,. Strong uptrend. A bit of a concern is that it has not made a higher high for a number of months.
He owns some of the Brookfield stocks. This is the top company in the pack. A truly great company with fine management. You can buy and hold this and do it on a DRIP. Ride it for a long time.
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