RE:RE:RE:RE:RE:BPYU $17.92 HI NP,
I probably own more securities than I should....I own mostly a balance of positively and negatively correlated interest sensitive stocks (eg banks/lifecos offset by pipelines and real estate) as I believe the US Fed is in charge here.
I knew when I took a big position in BPY in 2018 that it was not going to be a smooth ride. I still own lots of BPY and lots of their preferred shares. It has been a fun ride.
The IPL deal is interesting as BIP said it would consider increasing its offer if it can get access to their books. BAM has complete access to BPY given it owns a majority stake.
I think the "independent" committee of BPY has been given some backbone by BIP's offer to IPL and even moreso after IPL's response saying the offer does not come close to intrinsic value because neither does BAM's bid for BPY.....lol.
BPYU hit US$18.72 today.
Still long,
Vette