Brookfield Asset Management, Inc. (USA) (NYSE:BAM)

majomac (< 20) Submitted: 5/11/2012 11:05:58 PM

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Went to the annual meeting yesterday. They're very interested in Europe now -they are underweight there but are established enough to identify distressed assets when they appear. They think the next couple of years will surface some of these assets. that's what they are known for -bring lots of money to the table when European banks etc. need to raise cash - then get quality assets at a price. Their purchases over the last couple of years reflect this: 22% of General Growth, which would normally not be available to them. A Portuguese seller providing them with malls in Brazil. etc, etc. They will have tons of cash flow, and they won't be coming to market with an underwriting either. Instead they raise funds by establishing funds which they manage for institutions for a profit, and co-invest for their own account.

Not a bad choice for patient money!

majomac (< 20) Submitted: 5/11/2012 11:11:18 PM

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One more thing. They were asked about opportunities in China and India. The CEO (Bruce Flatt) said those two countries offer tremendous growth prospects, and BAM has a very small position in them. But they won't be doing any sizeable deals soon. BAM needs transparency and rule of law. Their purchases will be in parts of the world and in businesses that they know well and are confident of the business environment.