First stock in the clip; he and his family also own it personally. GLTA
https://www.bnnbloomberg.ca/video/brett-girard-s-top-picks~2568647
Brookfield Asset Management (BAM.A TSX)
In its latest effort to realize shareholder value, the asset management side of the business will be spun off from the corporate balance sheet investments (to trade at BN). The goal is to unlock some of the discount being applied to the smoother fee-related earnings from the lumpy investment income. Buying ahead of the spin-off will allow investors the choice to keep one or both new entities after potential market repricing.
TOP PICK
Brookfield Asset Management (A)(BAM.A-T)
20/11/2022 at 07:00pm
BAM benefits from being in private markets. Over time, this has done well. Before year-end they will split into Brookfield Corporation and BAM. BAM will remain in name and will invest 3rd-party capital into assets like real estate and infrastructure. This will offer a much smoother stream of capital coming in, because these will consist of fee-related earnings on a recurring basis. BAM has $120 billion of dry powder they can deploy going forward. BAM plans to have $400 billion of capital in 10 years. BAM will likely pay a decent dividend. BN will be the new company and this will be more lumpy. Brookfield is splitting in order to separate the lumpy return stream from the consistent stream. Brookfield has always found cheap, mispriced assets and bought them. (Analysts’ price target is $78.41)
Management / Diversified
Brett Girard, CPA, CA, CFA
$59.320
Owned