Brookfield Office Properties Inc T.BPO.PR.G

BN.PF.J

[Carena]

Hi there,

I own this Brookfied pref share.  Nice to see it migrating back to its par value of $25.  Its 52 week low was $16.24.  

The entire Canadian pref space has been lifted in recent months, nonetheless, I think this is good news for our BPO prefs.

Carena

[SONOFFERGUS]

Lovely.  I have BN.PF.B that has made a similar move.  They reset in March and I bought prior to the first dividend in June (when they had sold off hard for a small increase in GoC5, which made no sense to me) on Pierre's theory that it takes some time for investors to notice.  Thx Pierre!  BN just renewed its NCIB for prefs.  I don't think it has been active but

[Carena]

Hi Sonoffergus, Good on you! Hard to believe a 48% ROA for the smart investor who bought at the low on a Brookfield preferred share.  I was taught that preferred shares were low volatlity fixed income with a bit more risk.   Brookfield has certainly been scaring me these last couple years and I guess its not totally surprising. Carena

[SONOFFERGUS]

Good morning Carena TYVM.  I wish I had been greedier!  Way too much exposure to the BN empire lol. I was taught the same.  It turns out that they get absolutely hammered when risk is off and take forever to come back when risk is on -- they act like equity when you want them to be debt-like and debt when you want them to be equity-like.  Very frustrating. Oh well, at least

[Carena]

You said,  "they act like equity when you want them to be debt-like and debt when you want them to be equity-like". Very well said! Have a great night! Carena