American International Group (AIG) Announces Sale of ILFC

Well, that was fast; talks reported Friday 12/7 agreement announced Sunday 12/9. First the announcement in part: AIG Announces Agreement to Sell up to 90 Percent of International Lease Finance Corporation (ILFC): ILFC Headquarters to Remain in Los Angeles; Existing Management to Operate ILFC NEW YORK–(BUSINESS WIRE)–Dec. 9, 2012– American International Group, Inc. (NYSE: AIG) and […]

Three Positives at American International Group (AIG)

Last week we had three good pieces of news concerning our AIG investment: 1) International Lease Finance Corporation (ILFC) sale discussions underway; 2) The impact of Hurricane Sandy on AIG is very manageable; and 3) Woodbury Financial Services acquisition is completed. International Lease Finance Corporation (ILFC) Sale Discussions Underway: On 12/7/12 Bloomberg reported that a Chinese […]

Brookfield Infrastructure Partners, L.P. (BIP) 3Q12 Report

On November 7, 2012 Brookfield Infrastructure Partners, L.P. reported net income per unit of $0.35 and Funds from Operations (FFO) of $0.58 per unit slightly higher than Wall Street estimates of $0.55. The company is shifting gears from its Australian organic growth focus, adjusting to the cooling of growth in Asia, to an acquisition focus […]

Brookfield Asset Management (BAM) Reports 3Q12 Results

Brookfield Asset Management (BAM) reported 3Q12 results on November 9, 2012. The company had solid operating performance with a 17% increase in Funds from Operations (FFO), good total returns, and increasing intrinsic value. Especially encouraging is managements continued progress in adding a large number of high quality assets that will generate increasing returns to shareholders […]

American International Group (AIG) Reports 3Q12 Results

American International Group (AIG) reported 3Q12 earnings on November 1, 2012. It was a solid report but near term changes in AIG’s regulatory status and insurance operations may be causing undue concern for some. Beyond the noise our investment thesis remains on track and our margin of safety has improved. The share price dropped after the […]

American International Group (AIG) Update

Since the August 3 post on AIG a lot has been accomplished:     The U.S. Treasury conducted two sales of AIG common stock reducing government ownership to 242 million shares or about 16%, down from 92% at its peak. AIG purchased $8 billion of these shares (252 million shares) bringing the year to date […]

Brookfield Asset Management (BAM) Reports 2Q12 Results

With headlines; “Brookfield Asset Management Q2 Profit Plunges, Misses View” one would think BAM had a terrible quarter.  Hardly, it was actually a very good quarter for investors. By nature BAM’s asset management business earnings will fluctuate from quarter to quarter. Profits did fall but temporarily so.  Offsetting these fluctuations BAM  completed a record number of […]

Brookfield Infrastructure LLP (BIP) Reports 2Q12

Brookfield Infrastructure announced results for the 2Q12 on 8/8/12. It was a busy quarter with solid results. But first, on 7/30/12 BIP pre-announced a number of significant strategic initiatives that will meaningfully expand the transportation and utility businesses. These are opportunities created to a large extent from the environment in Europe. The New Strategic Initiatives […]

American International Group (AIG) Reports 2Q12

American International Group (AIG) reported 2Q12 earnings after the market close 8/2/12 and held their conference call on 8/3/12. It is an excellent report and our investment thesis remains on track and is ahead of schedule. You will recall our investment thesis is centered on the recapitalization of the company since the financial and credit […]

Brookfield Asset Management (BAM) Reports Strong 1Q12 Results

Brookfield reported strong financial and operating performance and remains well positioned for future growth. The investments made over the past four years are making a significant contribution to results with strong performance from major businesses. More information provided on the spinoff of Brookfield Property Partners at the annual meeting and in the Shareholder Letter. Management […]