Brookfield Office Properties Inc T.BPO.PR.A

Edper Substack

[Carena]

Good morning,

For the record, I post here for the positive and negative aspects of owning BPY/BPO securities. All information is good, is the way I see it.

In that regard, here is the link to Dalrymple's latest write-up on the BPY financials.  He is not wrong in what he is saying but certainly no smoking gun.....by the end, he seems to be throwing his hands up...lol. 

https://brookfield.substack.com/p/brookfield-property-permanent-info

I guess Brookfield has absorbed hit piece after hit piece for 4 years now and maybe they are just going to continue to slog it out.....and so far Flatt has been good on his word, no real negative headlines so far this year.

Have a great day,
Carena

[SONOFFERGUS]

Good morning Carena! Thx for this. Throwing hands up is the rational response.  I think that the worsening disclosure trend would be a massive red flag to the litigators if BPO/BPY were to fail and that BN knows it.  If there is real concern about being in the witness box one day, the appropriate response is to provide a mind-numbing level of disclosure. I take this a good sign -- BN

[rodbhar]

Most of the missing disclosure has moved to the Supplemental reporting and is also highlighted in BN's Investor Day presentation. Odd behaviour if BN is trying to "hide" anything. I find disclosure has INCREASED.

[Carena]

Hi Rod, You showed me awhile ago that you understand the BN Supplemental very well. And I very much respect your thoughts. The only stand I am taking is that the BPY legal entity financials are what we as BPO pref holders have been instructed to focus on based on the guarantees in place etc. On the other hand, the BN Supplemental is prepared for BN shareholders to help establish price targets