Brookfield Asset Management (A)

BAM.A-T

TSE:BAM.A

43.25
0.07 (0.16%)
Brookfield Asset Management Inc. is a global alternative asset manager with approximately $285 billion of assets under management, focusing on real estate, renewable power, infrastructure and private equity.
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Analysis and Opinions about BAM.A-T

Signal
Opinion
Expert
BUY
BUY
August 7, 2020
A big fan of the Brookfield group of companies. Depending on the time horizon, there could be weakness in the near term. However, in the longterm it is positive.
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A big fan of the Brookfield group of companies. Depending on the time horizon, there could be weakness in the near term. However, in the longterm it is positive.
TOP PICK
TOP PICK
July 28, 2020
A favourite of institutional investors. It's the best-managed large company in Canada, excellent at gathering large infrastructure assets like airports, railways and highways which have a long life and produce reliable returns. With bonds paying 0.5%, pension funds are attracted to assets that BAM buys and manages well. BAM is very well-placed, though it's taken a temporary hit. It pays only a 1.4% dividend, but contains a strong basket of assets that altogether are worth 50% more than the share price. A must-hold for all Canadian investors. (Analysts’ price target is $55.64)
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A favourite of institutional investors. It's the best-managed large company in Canada, excellent at gathering large infrastructure assets like airports, railways and highways which have a long life and produce reliable returns. With bonds paying 0.5%, pension funds are attracted to assets that BAM buys and manages well. BAM is very well-placed, though it's taken a temporary hit. It pays only a 1.4% dividend, but contains a strong basket of assets that altogether are worth 50% more than the share price. A must-hold for all Canadian investors. (Analysts’ price target is $55.64)
BUY
BUY
July 21, 2020
Which Brookfield stock to buy for share and dividend increase? BAM owns pieces of the other Brookfield stocks. Brookfield is in a unique spot because they can gather a lot of assets using (a lot of) money on the side to invest). However, they have a lot of competition in the alternative assets space, like pension funds, that are looking to invest in assets in and outside Canada. Assets are cheap now, so it's an opportunity for BAM.
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Which Brookfield stock to buy for share and dividend increase? BAM owns pieces of the other Brookfield stocks. Brookfield is in a unique spot because they can gather a lot of assets using (a lot of) money on the side to invest). However, they have a lot of competition in the alternative assets space, like pension funds, that are looking to invest in assets in and outside Canada. Assets are cheap now, so it's an opportunity for BAM.
BUY
BUY
June 29, 2020
It is an extremely complex company. He admires that it is at the top of its pyramid. They have done an outstanding job. It is probably a fairly good investment in the long term to come.
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It is an extremely complex company. He admires that it is at the top of its pyramid. They have done an outstanding job. It is probably a fairly good investment in the long term to come.
PAST TOP PICK
PAST TOP PICK
June 24, 2020
(A Top Pick Jun 11/19, Up 9%) She continues to hold this. It manages over $500 billion of alternative assets. The company, in this low interest rate environment, will continue to do well. They bought 62% interest in a financial company that focuses on distressed credit assets. They have the option to buy the balance of that company over the next 10 years. This gives them about $75 billion of available cash for deployment.
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(A Top Pick Jun 11/19, Up 9%) She continues to hold this. It manages over $500 billion of alternative assets. The company, in this low interest rate environment, will continue to do well. They bought 62% interest in a financial company that focuses on distressed credit assets. They have the option to buy the balance of that company over the next 10 years. This gives them about $75 billion of available cash for deployment.
BUY
BUY
June 15, 2020

BPY.UN-T vs. BAM.A-T. BPY.UN-T has some of the worst exposure if you are worried about a slow economic recovery and how we will react if there is a second wave. The stock has been cut in half. He loves BAM.A-T and he thinks they are one of the smartest investors on the street. You could make the case that BPY.UN-T is undervalued. If you are looking for short term moves, then this might be one of them.

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BPY.UN-T vs. BAM.A-T. BPY.UN-T has some of the worst exposure if you are worried about a slow economic recovery and how we will react if there is a second wave. The stock has been cut in half. He loves BAM.A-T and he thinks they are one of the smartest investors on the street. You could make the case that BPY.UN-T is undervalued. If you are looking for short term moves, then this might be one of them.

BUY
BUY
June 11, 2020
He'd buy this any day. It is a great long term value creator. They are huge and in many continents. This is a very good entry point.
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He'd buy this any day. It is a great long term value creator. They are huge and in many continents. This is a very good entry point.
DON'T BUY
DON'T BUY
June 4, 2020
He is net short. These stocks tend to be richly priced. It carries debt. He would not own it on the long side.
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He is net short. These stocks tend to be richly priced. It carries debt. He would not own it on the long side.
COMMENT
COMMENT
June 3, 2020

BAM vs ARE? He likes BAM and it is a core holding. They are involved in infrastructure with great cash flowing assets. In a low interest rate environment it will continue to do well. ARE is benefiting from taking on fixed pay contracts, which he views as being a little more risky. He would favour BAM.

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BAM vs ARE? He likes BAM and it is a core holding. They are involved in infrastructure with great cash flowing assets. In a low interest rate environment it will continue to do well. ARE is benefiting from taking on fixed pay contracts, which he views as being a little more risky. He would favour BAM.

DON'T BUY
DON'T BUY
June 2, 2020
vs. all Brookfield companies All the Brookfield companies are a difficult structure to understand. BAM has made some huge investments in real estate, which is a tough market. Brookfield holds office space in New York, which faces a tough decade. Brookfield as a whole is not for the feint of heart,
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vs. all Brookfield companies All the Brookfield companies are a difficult structure to understand. BAM has made some huge investments in real estate, which is a tough market. Brookfield holds office space in New York, which faces a tough decade. Brookfield as a whole is not for the feint of heart,
BUY
BUY
May 26, 2020

BAM vs. BIP For income, buy BIP; for capital appreciation, BAM. Both are well-run. BAM is the parent company and is one of the biggest asset managers in the world. BAM is solid and will be hunting for properties in this pullback; they are skilled investors. It's trading at a discount to NAV which means some downside protection It's a little difficult to understand all of BAM's moving parts and its reliance on various financing vehicles. (BPY is struggling, but will be a drag on BAM.) BIP and BAM will be fine long-term.

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BAM vs. BIP For income, buy BIP; for capital appreciation, BAM. Both are well-run. BAM is the parent company and is one of the biggest asset managers in the world. BAM is solid and will be hunting for properties in this pullback; they are skilled investors. It's trading at a discount to NAV which means some downside protection It's a little difficult to understand all of BAM's moving parts and its reliance on various financing vehicles. (BPY is struggling, but will be a drag on BAM.) BIP and BAM will be fine long-term.

BUY
BUY
May 25, 2020
There is a lot more safety in the conglomerate than in the individual companies it holds. This is a good level at which to establish a long term position.
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There is a lot more safety in the conglomerate than in the individual companies it holds. This is a good level at which to establish a long term position.
BUY
BUY
May 22, 2020
Work from home? Scotiabank released a report saying it is trading at a discount and is good value. Retail holdings is only about 6% of their revenues. He thinks the market is overly punishing them. Another issue is that they may be a little too exposed to Brazil. A good opportunity to buy a Canadian company with a global franchise. He owns it and would accumulate here.
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Work from home? Scotiabank released a report saying it is trading at a discount and is good value. Retail holdings is only about 6% of their revenues. He thinks the market is overly punishing them. Another issue is that they may be a little too exposed to Brazil. A good opportunity to buy a Canadian company with a global franchise. He owns it and would accumulate here.
BUY
BUY
May 19, 2020
He'd buy it today. Brookfield thrives in downturns, such as 2008, buying assets/properties when there's blood on the streets. Management was buying back a lot of shares in the March sell-off. BAM buys alternative (to fixed income) assets. So, with interest rates near zero, BAM is attractive. BAM's 5-year plan (from late 2019) projects a 20% annualized return in the next five years. Good to own for the long term.
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He'd buy it today. Brookfield thrives in downturns, such as 2008, buying assets/properties when there's blood on the streets. Management was buying back a lot of shares in the March sell-off. BAM buys alternative (to fixed income) assets. So, with interest rates near zero, BAM is attractive. BAM's 5-year plan (from late 2019) projects a 20% annualized return in the next five years. Good to own for the long term.
BUY
BUY
May 14, 2020
Dynamite managers of long life assets. The various buckets are attractive as alternatives. If rates went higher, then some of their alternative assets could be challenged. It is a very stable business model. They have been able to raise enormous amounts of money to invest in long life assets and it is a rock solid center to a portfolio.
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Dynamite managers of long life assets. The various buckets are attractive as alternatives. If rates went higher, then some of their alternative assets could be challenged. It is a very stable business model. They have been able to raise enormous amounts of money to invest in long life assets and it is a rock solid center to a portfolio.
BUY
BUY
May 13, 2020
Long term hold? They own this one. At current prices levels in the mid-$40s it is a good buy. They have a long term view and their CEO has had a recessionary view of the economy for the past several quarters. She thinks they will use a market down turn as an opportunity. When they reported last week, they mentioned a 2018 mall acquisition with the intention to re-purpose it to multi-purpose use. In a world of low or negative interest rates, holding hard assets is the way to go. She would be a buyer here.
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Long term hold? They own this one. At current prices levels in the mid-$40s it is a good buy. They have a long term view and their CEO has had a recessionary view of the economy for the past several quarters. She thinks they will use a market down turn as an opportunity. When they reported last week, they mentioned a 2018 mall acquisition with the intention to re-purpose it to multi-purpose use. In a world of low or negative interest rates, holding hard assets is the way to go. She would be a buyer here.
TOP PICK
TOP PICK
May 1, 2020
One of the world's foremost managers of assets from infrastructure to renewables. IT has a worldwide footprint. It is big and getting bigger. They have deep expertise. It benefits from a shift towards reallocation by pensions towards hard assets. They are buying back shares as well allowing them to grow on a higher compounding rate going forward. Yield 1.39% (Analysts’ price target is $56.37)
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One of the world's foremost managers of assets from infrastructure to renewables. IT has a worldwide footprint. It is big and getting bigger. They have deep expertise. It benefits from a shift towards reallocation by pensions towards hard assets. They are buying back shares as well allowing them to grow on a higher compounding rate going forward. Yield 1.39% (Analysts’ price target is $56.37)
HOLD
HOLD
April 30, 2020
The preeminent asset manager globally. They have quite a bit of capital to put to work. He thinks highly of management. There will be a lot of volatility along the way. There are negative headlines that do get caught up but he would continue to hold it.
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The preeminent asset manager globally. They have quite a bit of capital to put to work. He thinks highly of management. There will be a lot of volatility along the way. There are negative headlines that do get caught up but he would continue to hold it.
TOP PICK
TOP PICK
April 29, 2020
He has owned this for a long time. It is the private equity investor in real assets and acts as the parent for the entire Brookfield family. Although a lower yield than their other public entities, they have access to their asset management business that is growing quickly. They have lots of excess capital and dry powder to take advantage of market opportunities. Yield 1.36% (Analysts’ price target is $56.37)
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He has owned this for a long time. It is the private equity investor in real assets and acts as the parent for the entire Brookfield family. Although a lower yield than their other public entities, they have access to their asset management business that is growing quickly. They have lots of excess capital and dry powder to take advantage of market opportunities. Yield 1.36% (Analysts’ price target is $56.37)
DON'T BUY
DON'T BUY
April 21, 2020

They have a lot of leverage in US commercial real estate, and also in worrying places like Latin America. There are a lot of risks to the Brookfield group of companies in a time when companies with heavy leverage will suffer. Look elsewhere.

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They have a lot of leverage in US commercial real estate, and also in worrying places like Latin America. There are a lot of risks to the Brookfield group of companies in a time when companies with heavy leverage will suffer. Look elsewhere.

HOLD
HOLD
April 16, 2020
Everything with Brookfield always comes to the top. Fundamentally they are an asset management company. When assets go down, their fees go down, but there is a delay. This might have caused short interest to go up. He thinks they will grow assets well in this environment as they look for distressed assets. It's a high quality company and they are seasoned operators.
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Everything with Brookfield always comes to the top. Fundamentally they are an asset management company. When assets go down, their fees go down, but there is a delay. This might have caused short interest to go up. He thinks they will grow assets well in this environment as they look for distressed assets. It's a high quality company and they are seasoned operators.
BUY WEAKNESS
BUY WEAKNESS
April 15, 2020
This holding will probably benefit from lower interest rates and the likely need for asset management going forward. About 85% of their holdings are other Brookfield companies that will do well. He thinks it is good to buy on weakness.
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This holding will probably benefit from lower interest rates and the likely need for asset management going forward. About 85% of their holdings are other Brookfield companies that will do well. He thinks it is good to buy on weakness.
BUY
BUY
April 14, 2020
Great company, super managers. He's studying it right now. You can buy it. This performs well over all kinds of market cycles.
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Great company, super managers. He's studying it right now. You can buy it. This performs well over all kinds of market cycles.
WATCH
WATCH
April 6, 2020
Coming into his crisis things were as good as they could have been. The dividend is sustainable because it is low. They have a large real estate portfolio and it will be challenged coming out of all this. A lot of tenants are compromised in terms of their ability to pay. Be careful about big real estate portfolios. There is a lot of liquidity in the system and they are looking for a credible entity to put their money to work for them. BAMA.A-T might gather capital in this environment. It should be on your shopping list.
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Coming into his crisis things were as good as they could have been. The dividend is sustainable because it is low. They have a large real estate portfolio and it will be challenged coming out of all this. A lot of tenants are compromised in terms of their ability to pay. Be careful about big real estate portfolios. There is a lot of liquidity in the system and they are looking for a credible entity to put their money to work for them. BAMA.A-T might gather capital in this environment. It should be on your shopping list.
PAST TOP PICK
PAST TOP PICK
March 23, 2020
(A Top Pick Mar 26/19, Down 22%) Absolutely consider buying it now. Read the letter to shareholders on their web site. This is one CEO worthy of your attention. Everybody should own this company.
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(A Top Pick Mar 26/19, Down 22%) Absolutely consider buying it now. Read the letter to shareholders on their web site. This is one CEO worthy of your attention. Everybody should own this company.
TOP PICK
TOP PICK
March 23, 2020
It has a tremendous range of assets – infrastructure, toll roads, ports, airports, railways and all kinds of real estate. It also has a lot of partnerships. It has $65 Billion to buy things now at bargain basement prices. This is the time when value investors shine.
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It has a tremendous range of assets – infrastructure, toll roads, ports, airports, railways and all kinds of real estate. It also has a lot of partnerships. It has $65 Billion to buy things now at bargain basement prices. This is the time when value investors shine.
PARTIAL BUY
PARTIAL BUY
March 17, 2020

At what point does the private equity markets get hit? We're starting to see people sell even gold and treasuries to meet margin calls. It isn't far that real assets will be sold--a spiral he doesn't want to see. But BAM is well-managed. Nibble away at these level, but don't go in whole hog.

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At what point does the private equity markets get hit? We're starting to see people sell even gold and treasuries to meet margin calls. It isn't far that real assets will be sold--a spiral he doesn't want to see. But BAM is well-managed. Nibble away at these level, but don't go in whole hog.

COMMENT
COMMENT
March 16, 2020
It's held up very well in this sell-off. It could see a nice rebound. His target is $64.50 and buy there. But it it fails there, then $53 is the next support. Its FMV is $74.68, actually, so the stock isn't cheap at current levels. Also, it pays only a 1.5% dividend.
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It's held up very well in this sell-off. It could see a nice rebound. His target is $64.50 and buy there. But it it fails there, then $53 is the next support. Its FMV is $74.68, actually, so the stock isn't cheap at current levels. Also, it pays only a 1.5% dividend.
BUY
BUY
March 10, 2020
It's a winner. The pullback now is a good entry point. It's one of the world's best and biggest owners/operators/buyers of "alternative assets" (private equity, infrastructure, renewables, real estate). They operate all around the world, in every continent. Their size means they can write huge cheques without involving partners. The best thing in markets they operate in they're not obtained by auctions, but negotiated deals. They synergize well. They grow capital without committing their own earnings, more and more, as institutional demand for these assets continues to grow.
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It's a winner. The pullback now is a good entry point. It's one of the world's best and biggest owners/operators/buyers of "alternative assets" (private equity, infrastructure, renewables, real estate). They operate all around the world, in every continent. Their size means they can write huge cheques without involving partners. The best thing in markets they operate in they're not obtained by auctions, but negotiated deals. They synergize well. They grow capital without committing their own earnings, more and more, as institutional demand for these assets continues to grow.
PARTIAL SELL
PARTIAL SELL
March 4, 2020
It's done enormously well over 10-15 years. Long-time holders should take some profits. Brookfield turns its subsidiaries into Canadian corporations, not US limited partnerships, which helps your tax treatment.
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It's done enormously well over 10-15 years. Long-time holders should take some profits. Brookfield turns its subsidiaries into Canadian corporations, not US limited partnerships, which helps your tax treatment.
COMMENT
COMMENT
February 21, 2020
If you've held it for the last couple of years, maybe it's not a bad time to take some profits. For him, cashflow is what is important for him. It is one of the core holdings for his portfolio at 5%. Infrastructure and REITs are well-hedged for any interest rate disruptions.
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If you've held it for the last couple of years, maybe it's not a bad time to take some profits. For him, cashflow is what is important for him. It is one of the core holdings for his portfolio at 5%. Infrastructure and REITs are well-hedged for any interest rate disruptions.
COMMENT
COMMENT
February 20, 2020
Trading at a high, doing very well. Dividend increases every year. Parent company does well as money flows up from all its subsidiaries.
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Trading at a high, doing very well. Dividend increases every year. Parent company does well as money flows up from all its subsidiaries.
BUY
BUY
February 18, 2020
It benefits from its global reach and has a piece of all the action in all its Brookfield stocks. This can replace a Canadian bank stock. BAM is very well run and has the attention of global investors. It's not risk-free (given low interest rates), but strong overall.
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It benefits from its global reach and has a piece of all the action in all its Brookfield stocks. This can replace a Canadian bank stock. BAM is very well run and has the attention of global investors. It's not risk-free (given low interest rates), but strong overall.
BUY
BUY
February 14, 2020
If you like it, he would buy into it now. As long as the valuation is not super expensive and you plan to hold it for a long time, then you can buy it. It is a well-run company that checks all the boxes. It is a well-run global business. The earnings were tremendous.
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If you like it, he would buy into it now. As long as the valuation is not super expensive and you plan to hold it for a long time, then you can buy it. It is a well-run company that checks all the boxes. It is a well-run global business. The earnings were tremendous.
BUY WEAKNESS
BUY WEAKNESS
February 13, 2020

Very strong results this morning. 3 to 2 stock split. Increasing dividend by 12%. Successful at fundraising. Infrastructure and renewables have done really well. A leader in alternative assets. Lots of capital. Wait for weakness to add.

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Very strong results this morning. 3 to 2 stock split. Increasing dividend by 12%. Successful at fundraising. Infrastructure and renewables have done really well. A leader in alternative assets. Lots of capital. Wait for weakness to add.

BUY
BUY
February 4, 2020

It's his biggest Canadian stock. It's gone up by succeeding in its core business as well as paid shares in limited partnerships which are not fully reflected in the share price. Don't buy this for the dividend. Buy BIP for that.

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