Brookfield Renewable Power Partners (BEP, BREP)

Brookfield Renewable Power Partners (BREP) has the world’s largest publicly traded hydroelectric power generation portfolio with significant and durable competitive advantages. These advantages form a wide protective moat of natural barriers to entry including limitations on river availability, suitable locations with substantial water supplies and competing uses for those rivers. The moat supports the economic advantage […]

Brookfield Infrastructure Partners (BIP)

The next step in the valuation of Brookfield Asset Management (BAM) is to understand the components of the company starting with Brookfield Infrastructure Partners (BIP). Brookfield Infrastructure Partners is the first major entity spun off in Brookfield Asset Management’s transformation to a global asset manager. BIP was launched in 2008 and operates infrastructure assets in North […]

Brookfield Asset Management (BAM) Investment Thesis, Part I

Brookfield Asset Management is criticized at times as being a company too complex to understand. Well, it is diverse but not too complex to understand. Management helps us with levels of disclosures and clarity of communications that can only be considered outstanding when compared to others. In the upcoming posts we will break the company down […]

Brookfield Asset Management (BAM) Delivers: Properties Spinoff Announced

Brookfield Asset Management Announces Spin-Off of Brookfield Property Partners [Source]: The spinoff of Brookfield Property Partners (BPY) is a special dividend to Brookfield Asset Management’s (BAM) shareholders of record as of March 26, 2013 and payable April 15, 2013. It is the last major step needed to complete the multi-year transformation from a sprawling international […]

Measuring AIG Going Forward

Over the past number of conference calls management has emphasized debt reduction and interest coverage as the highest priority near term. They are focused on cost reductions, interest expense reductions and improving the interest coverage ratio. “As the year progresses, we will then begin to look at things like could we add a dividend to the […]

American International Group (AIG) 4Q12 Results: What a Year

American International Group (AIG) reported 4Q12 earnings on February 21, 2013 [Source]; the results beat Wall Street expectations although the company did not meet all of its performance targets. However, it was an outstanding year showing progress on many fronts and demonstrating the earnings power that will provide shareholder returns for years to come. Bob Benmosche, […]

Brookfield Asset Management (BAM) Impressive 4Q12 and 2012 Results

Brookfield Asset Management (BAM) reported [Source] impressive financial and operational performance for 2012, increasing cash flow and the intrinsic value significantly. The stage is set for solid future growth following the prudent expansion of both private and public asset management and attracting increasing capital to their highly desired real asset platforms. [Source]: BAM 4Q12 Supplemental […]

Brookfield Infrastructure Partners, L.P. (BIP) 4Q12 A Solid Report

The value created over the past few years continues to provide cumulative returns for the benefit of patient unit holders with a long term investing perspective. This is another solid report. I don’t think we could have asked for much more other than perhaps to wish more publicly traded companies were managed this well the owners. […]

AIG Announces Sale of AIA Group Limited

NEW YORK–(BUSINESS WIRE)–Dec. 16, 2012– American International Group, Inc. (NYSE: AIG) announced today that it has commenced a sale in Hong Kong of up to all of its ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors. AIG expects to use the net proceeds from the placing of […]

Treasury Exits AIG; Valuation Update

The U.S. Department of the Treasury announced that it is offering all of its remaining 234 million AIG shares for sale at $32.50/share for a total $7.6 billion. The offering is expected to be completed on Friday. This sale ends government ownership and combined with the recently announced International Lease Finance Corporation (ILFC) sale will eliminate the remaining major […]