Opinions
David Driscoll
Babcock & Brown Infrastructure
BBI-AU
PAST TOP PICK
Mar 20, 2009
(A Top Pick March 17/08. Down 95.3%.) As an infrastructure play, they were into ports and utilities. Company was doing well but the debt leverage was too high. When the credit markets closed their access to capital froze up. Sold his holdings when it looked like the parent company was going into bankruptcy.
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Infrastructure fund. Owns ports globally but not cities’ as well as some Australian utilities. Acquisitions they made have not been expensive. Stock is off because of the carry trade between Australia and Japan.(It was cheap to borrow in Japan to buy Australian securities that are yielding quite a bit until they Australian$ began to fall.) Recently increased its dividend to about 13%.
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PAST TOP PICK
(A Top Pick Oct 25/07. Down 81%.) Infrastructure fund that owns pipelines and electrical utilities globally. Its parent, Babcock & Brown bank is the one that is in trouble so has been knocked down because of its association. The upside is a lot higher than what the downside would be but will take a while. Assets are solid. Considered a Hold.
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