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BAM - Brookfield Asset Management


menlo

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It took them so many years to figure this out?! An analyst with 2 years of work experience on wall st would know this. They are either too stupid and ignorant or they are pretending.

 

Shhh, sleepydragon, - please don't tell anyone!

 

Anecdotal:

 

Scandinavia [understood as Sweden, Norway, Finland and Denmark]: The Mekka of DIY investors: Nordnet Bank AB, as of latest reporting:

 

Total number of accounts [not to be confused with total numbers of customers]: 923,300 [E2018Q1] [link, p. 7].

Total number of accounts connected to Shareville [an investment board run by Nordnet] as of today:  192,332

Shareville accounts holding BAM [NYSE] as of today : 13

Shareville accounts holding BAM.A [TSX] as of today : 10.

 

- - - o 0 o - - -

 

My family and I constitutes a majority [with regard to the number of accounts] being invested into BAM [NYSE]. [because of commisions being lower for our our part [not much though] buying on NYSE in stead of on TSX].

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Didn't know this was behind a wall. Here is a pdf of it.

 

FF.pdf

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I don't see it as a crime.  Unless the bidding process was flawed in a meaningful way.  It's just an opinion piece, not economic/financial analysis.

 

edit: I don't mean to say that the government couldn't have erred.  Just that I assume there was a competitive process, and BBU and partners came out ahead.  In this forum/case, I care more about my investment via any outrage against politicians.

 

I find it hard to believe that a fair and "competitive process" only fetched 1x EBITDA for these assets plus some other valuable rights.  This just doesn't make sense.

 

Well, the deal could sink [Ontario Minister of Finance] Charles Sousa's chances to win his riding, as it has the attention of the NDP:

 

https://globalnews.ca/news/4250949/calls-mount-for-probe-of-wynne-government-casino-contracts-that-smelled-of-backroom-deals/

 

If the NDP wins a majority, I'd put a 60% probability that they seek to cancel the casino deal (not sure if it's feasible).

 

From the article:

 

In a research note titled “Hitting the lottery,” analysts at Scotiabank said Great Canadian “handily beat estimates based on a materially greater contribution,” from the first two months of operating the Toronto-area casinos. And with the profits produced from these assets, including Woodbine Casino, Great Canadian could pay off its $158-million investment in about six months, according to a financial projection reviewed by Global News.

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PVI seems nearly impossible to buy.  Its hard to tell if its even traded this month, more than once or twice.  So, you really have to study what you think its value is, and then determine if the value of the underlying is valued where you would like it as well. 

 

BAM and the subs are hard enough to get a handle on.  For example, BAM is up 10% over a few days.  Why?  These guys are continuously moving billions about with various partnerships.  Why would this week be any different? 

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I actually just bought some PVF.un today at $36.xx.  I was able to get several orders executed over the past 2-3 months at prices between $32-37.  At $36, the MTM (for the major holdings) NAV discount is about 30%.

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I actually just bought some PVF.un today at $36.xx.  I was able to get several orders executed over the past 2-3 months at prices between $32-37.  At $36, the MTM (for the major holdings) NAV discount is about 30%.

 

Thanks for that Gokou.  What kind of volumes, if you mind me asking?

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