Second stock in the clip; she also owns it personally. Consensus is 8 Buys and 4 Holds. GLTA
https://www.bnnbloomberg.ca/video/christine-poole-s-top-picks~2011925
Brookfield Asset Management (BAM/A TSX) –
Last purchased ~$43.00 in July 2020
Brookfield Asset Management is a global alternative asset manager with over $500 billion in assets. The company owns and operates assets on behalf of shareholders and clients with a focus on property, renewables, infrastructure and private equity. BAM seeks to invest in long-life, physical assets that typically benefit barrier to entry, regulatory regime or competitive advantages that provide for relatively stable cash flow streams. The stock offers a modest dividend yield of 1.5 per cent.
TOP PICK
Brookfield Asset Management (A) (BAM.A-T)
August 11, 2020
Will benefit from a low interest environment. Their clients include pension and sovereign wealth funds which seek income. Brookfield invests in hard assets, infrastructure and renewables (see those stocks). Hard assets like bridges and tolls generate cash. They could swoop up government assets for sale to reduce government deficits. Their private equity division has a fine, long-term track record. They bought Oak Tree Capital last fall which buys distressed credits, which Brookfield can take advantage now. She likes the alternate asset managment space. With the the current 10% pullback YTD, BAM is now a good entry point for long-term. (Analysts’ price target is $39.92)
Christine Poole
Price
$43.980
Owned
Yes