Top PickSecond stock in the clip; he and his family also own it personally. GLTA https://www.bnnbloomberg.ca/video/chris-blumas-top-picks~2584434 Brookfield Corporation (BN TSX)
Most recent purchase at $61.27 on 2022-11-28 (pre-spinoff price)
Earlier this week Brookfield Asset Management successfully completed the spin-off of a minority stake in its asset management business to existing shareholders. As part of this process, the parent company (formerly Brookfield Asset Management) changed its name to Brookfield Corporation and changed its ticker to “BN” on both the TSX and NYSE.
Brookfield Corporation is a direct investor and third-party asset management firm with a unique focus on real assets and private equity. The company has a controlling interest in each of its publicly traded affiliates and a portfolio of other private investments. Brookfield is one of a handful of global private equity players that are uniquely positioned to raise large amounts of capital from institutional clients as it shifts its portfolios toward higher-yielding asset classes.
While the company has four publicly listed operating subsidiaries (BAM, BBU, BEP, BIP), the parent company has the unique ability to allocate capital across its platform and operate in a counter-cyclical manner. Brookfield has more than $100 billion in capital available to deploy across its platform and is uniquely positioned to benefit from weakness in the global macroeconomic environment. The shares currently trade at less than 12x trailing funds from operations and have a core free cash flow yield of around five per cent.
TOP PICK
Brookfield Corporation(BN-T)
13/12/2022 at 07:00pm
The new parent company. Likes the top of the pyramid because you get exposure to all the operating subsidiaries, but they can allocate capital opportunistically among those subsidiaries. Good at recycling capital. Ready cash to do M&A. So many levers to create value at a bad time in the market. Undervalued. Attractive in this environment. Yield is 1.65%. (Analysts’ price target is $67.36)
Chris Blumas
$45.890
Owned