Brookfield FatigueFirst off, thanks to everyone especially Vette for your posts. Very interesitng stuff!!
I have traditionally been a huge supprter of Brookfield and my wife & I bought a full position in BEP.UN and BIP.UN in Mar, 2014 and a full position in BPY.UN in Jan, 2017.
We have done incredibly well with BEP & BIP and made a bit off BPY (mostly by additional swing trading leaving the full position alone). I have been getitng a bit troubed by all the what looks like "financial engineering" and all the hidden and weird dealings.
I'm very disappointed in the price offered by BAM for BPY. As someone mentioned, they had offered $21US last year on a stock buyback so $16.50 seems like a bit of a step down. Also, if they think the NAV is $30US, then $16.50 sounds very low ball.
Anyway, back in Aug with the BEPC split, I started selling BEP and we are now completely out of it. It was fabulous to us as we made a nice $140.2k profit on it.
We also trimmed a bit of our BIP for a profit so far of $41.5k and are still holding most of it.
On the BPY front, we had added 1200 shares at $19.29 in early Dec as I was really getting the feeling that BAM was coming in sooner rather than later (I didn;t expect to be this fast though :-).
It was a pretty easy decision to sell those shares yesterday morning and take our profit. We also sold another 1000 yesterday from our long term shares at a slight loss with the divy factored in. I also have another sell order for 740 at $21.64 (was a little slow this morning on getting it in).
With the proceeds, we've mainly added to our midstreamers and banks. I would have preferred to have just been able to keep BPY as it was but that doesn't seem possible, I'm hoping to sell another 700 if it gets to $22.70 and then eventually take the rest in cash when the take-over goes through.
Anyway, I'm disappointed but that's my plan.
Ciao
Sarge