Brookfield Infrastructure Partners (BIP.UN.TO)

He is a massive fan of the Brookfield group of companies. There are a whole bunch of different entities, so he just prefers the parent company Brookfield Asset Management (BAM.A-T) and let all the benefits accrue. This has been a great investment.

In a rising rate environment, a yield vehicle tends to underperform, because you can get risk free money cheaper than you could before. Overall he feels the Brookfield family of funds and investments is fantastic.

One of the more unique businesses within his portfolios. Their business strategy is to buy undervalued assets that are sometimes in trouble. They like to recapitalize it, restructure it, grow the business and then sell it and recycle the capital. A very difficult business model to replicate. The 5% distribution model is solid. It has been tough for them to do deals, which is why the stock has held back a little. Recently went into France and expanded into a tower telecom. He is comfortable holding this, but wouldn’t be adding to it.

He has very little visibility to understand how to think about earnings. A well-run company. He doesn’t understand the economics for holding this company for a longer period of time. The products that infrastructure companies tend to be in are very, very levered with high amounts of debt. (See comments under KKR-N.)

Likes that this a global play. Just added some telco assets in Europe. Likes the way the company is run. They are very good at acquiring assets. If you are looking to diversify out of pipelines and utilities and into infrastructure, this is a good one.

Stock vs. Stock. BAM.A-T vs. BIP.UN-T. BAM.A-T is the parent. They are very bright guys at BAM.A-T. They have opportunities to grow quicker than the parent. They are both good companies each with a good dividend yield.

Likes it. Very high quality business, run by an exceptional management team. They buy cheap depressed businesses and turn them around to sell at a profit. Recent acquisition of telecom towers in France will fit well. The dividend could grow at 10% for a total 15% yield. They do well when the markets are in turmoil because they buy distressed businesses.

Sold most of his holdings recently. A good dividend stock. The chart shows the stock is moving sideways. He is a big believer in money flow, which is basically price movement X volume. It appears that big money has been moving out of the stock for the last 6 months or so, which could be a warning sign. The days of growth are probably behind it.

(Top Pick Sep 26/13, Up 15.43%) It had a down turn recently. It has a high barrier to entry and pays a good yield.

This is a steady stock. Well diversified and good management. He likes infrastructure stocks. A good solid hold for the next 2-3 years.

You should see 8-10% total return. It is not a cheap stock, but you could put it away in the portfolio.

There has been a lot of activity in the last 6 months, and he thinks this is approaching their valuation. Would put this on a radar screen before entering any position. 4.7% dividend yield.

(A Top Pick April 16/14. Up 5.17%.) Every time this stock dips down to its trend line, it is time to Buy.

(A Top Pick March 11/14. Up 5.53%.) This has a nice dividend. Every time it gets down to the trend line, you Buy. Has a great profile fundamentally and technically.

This is one where if it breaks down to its trend line, you can buy it. Great management. Infrastructure itself can be a reasonably defensive play. They have a history of raising their dividends. Low beta stock. Yield of 4.93%.