Last stock in the clip; he also owns it personally. Consensus is 11 Buys and 2 Holds. GLTA
https://www.bnnbloomberg.ca/video/chris-blumas-top-picks~2115230
BROOKFIELD ASSET MANAGEMENT (BAM/A TSX)
Most recent purchase $49 on Jan. 7.
Brookfield is a direct investor and third-party asset management firm with a unique focus on real assets and private equity. The company is one of a handful of global private equity players that are uniquely positioned to raise large amounts of capital from institutional clients as they shift their portfolios towards higher yielding asset classes. While the company has four publicly listed operating subsidiaries, most of these companies have more of a yield focus and do not provide investors with exposure to the rapidly growing asset management business. The shares currently trade at 13.5 times adjusted funds from operations and have a free cash flow yield of 4.6 per cent.
TOP PICK
Brookfield Asset Management (A)
(BAM.A-T)
January 8, 2021
Their proposal to acquire BPY saw the stock sell off by 5%. However, this sell-off has seen the price go down to his buy price of 13.5x adjusted funds from operations, around $50. A phenomenal compounder for longterm investors. Creates value efficiently for shareholders. There is a lot of demand for the types of assets they own in this environment. (Analysts’ price target is $61.69)
Chris Blumas
Price
$49.625
Owned
Yes