RE:RE:RE:RE:Buybacks have shifted fromAs a follow on to my last post, it is weird how BAM has a guy blowing his brains out buying BAM pref shares 500 shares at a time (albeit at a nice discount to Par Value but probably at its NAV) when BPY is just sitting there trading 50% below its highly trumpeted NAV.
Apparently BPY was a steal at $19 a few months ago to spend $200 million and now BAM see better use of its capital in buying its own prefs at NAV? ?
This is either very strange or something is happening behind the scenes.
It is encouraging to see BPY somewhat stabilize in last few weeks while BAM or BPY has not been at all active in the market supporting the stock.