BAM Update LetterBAM issued its own "update" letter this morning......very comforting and as I said in one of my recent posts, it is at times like these that Bruce Flatt takes aim.
A key point in the letter for me, BAM is taking aim at the stock market for creating value. He implied that he sees more value in the stock market, that is, more than even buying his own common stock of BAM.
I purchased a bunch of the BPYPP preferred shares last week.....12% yield. These shares were issued at $25 par value in just August last year.
Still long,
Vette