Author Topic: BAM - Brookfield Asset Management  (Read 541042 times)

racemize

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Re: BAM - Brookfield Asset Management
« Reply #100 on: June 18, 2013, 06:17:30 AM »
I put together a spreadsheet with some fundamental data (with the help of WhoIsWarren).  Here's my results:

https://docs.google.com/spreadsheet/ccc?key=0AhTPR9eP5nWedHZXZVBTMWlSa0pMRTFDc1ViN3B3a1E&usp=sharing


There were some really odd adjustments to BVPS throughout (wasn't just share adjustments, as far as I could tell)--not sure what to make of that.  In any event, I ended up with some rough adjustments to the BVPS, and then just used valueline's all the way back to 2003.  Hopefully this is helpful to others.


racemize

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Re: BAM - Brookfield Asset Management
« Reply #101 on: June 20, 2013, 11:03:59 AM »
Not sure if this has been posted, but a friend of mine directed me to this video of Flatt:

http://apps.whitman.syr.edu/video/Video.aspx?vid=d24baee9-40e0-4ee2-b6f3-593382be2c50

giofranchi

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Re: BAM - Brookfield Asset Management
« Reply #102 on: June 20, 2013, 11:01:53 PM »
Not sure if this has been posted, but a friend of mine directed me to this video of Flatt:

http://apps.whitman.syr.edu/video/Video.aspx?vid=d24baee9-40e0-4ee2-b6f3-593382be2c50

Thank you for posting this video, Joel!

I hadn't seen it yet, and I will watch it with much pleasure. :)

giofranchi
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

giofranchi

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Re: BAM - Brookfield Asset Management
« Reply #103 on: June 22, 2013, 01:35:34 AM »
Value by George: Brookfield June 2013 Update.

http://www.valuebygeorge.com/2013/06/21/brookfield-bam-bpy-bip-bep-june-update/

giofranchi
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

Kiltacular

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Re: BAM - Brookfield Asset Management
« Reply #104 on: July 10, 2013, 11:01:12 AM »
Quote
July 09, 2013 07:55 ET

Brookfield Asset Management Announces Automatic Purchase Plan

TORONTO, ONTARIO--(Marketwired - July 9, 2013) - Brookfield Asset Management Inc. (NYSE:BAM)(TSX:BAM.A)(EURONEXT:BAMA) today announced that, in connection with its previously announced normal course issuer bid program, it will enter into an automatic purchase plan with its designated broker to allow for purchases of its Class A Limited Voting Shares when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise. Outside of these periods, shares will be repurchased in accordance with management's discretion, subject to applicable law.

Under its normal course issuer bid which expires on April 22, 2014, Brookfield may purchase up to 53,571,157 Class A Limited Voting Shares. Purchases under the bid can be made through the facilities of the Toronto Stock Exchange (the "TSX"), the New York Stock Exchange and any other applicable stock exchange. In accordance with the rules of the TSX, any daily purchases on the TSX under this bid (other than pursuant to a block purchase exemption) will be limited to 195,080 Class A Limited Voting Shares.

http://www.marketwire.com/press-release/brookfield-asset-management-announces-automatic-purchase-plan-tsx-bam.a-1809191.htm

racemize

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Re: BAM - Brookfield Asset Management
« Reply #105 on: August 09, 2013, 06:46:47 AM »
Ok, has the listing of intrinsic value per share disappeared again?  I can't find it in the most recent letter/report/supplemental...

fareastwarriors

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Re: BAM - Brookfield Asset Management
« Reply #106 on: August 09, 2013, 10:42:16 AM »
http://www.cnbc.com/id/100952444

'Buffett of Canada' says he's a big bull on the US



(I thought the Buffett of Canada is Prem Wasta!)

WhoIsWarren

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Re: BAM - Brookfield Asset Management
« Reply #107 on: September 03, 2013, 08:46:39 AM »
Ok, has the listing of intrinsic value per share disappeared again?  I can't find it in the most recent letter/report/supplemental...

Hi racemize, I missed this post of yours from a few weeks back.

You're right -- they didn't publish an intrinsic value for the most recent quarterly.  You might have noted they didn't report it in the Q1:13 report either.  And as you mentioned in an earlier post, finding the intrinsic value number for 2012 was not easy, certainly not compared to Q3:12 reports and earlier (quarterly and annual, back to 2008 when they first produced an intrinsic or 'underlying' value).

I don't think the SEC is totally comfortable with the use of intrinsic value.  Therefore, from the 2012 annual report onwards, Brookfield discloses the firm's intrinsic value on an annual basis only (i.e. not quarterly) and all discussion and derivation of intrinsic value will take place in the "Additional Information" report, which is released alongside the annual report.

http://www.brookfield.com/_Global/42/img/content/File/Investor%20Relations/Supplemental%20Information/2012/Supplemental%20Information%202012_F1.pdf

Hope this helps.

racemize

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Re: BAM - Brookfield Asset Management
« Reply #108 on: September 03, 2013, 11:53:21 AM »
Ok, has the listing of intrinsic value per share disappeared again?  I can't find it in the most recent letter/report/supplemental...

Hi racemize, I missed this post of yours from a few weeks back.

You're right -- they didn't publish an intrinsic value for the most recent quarterly.  You might have noted they didn't report it in the Q1:13 report either.  And as you mentioned in an earlier post, finding the intrinsic value number for 2012 was not easy, certainly not compared to Q3:12 reports and earlier (quarterly and annual, back to 2008 when they first produced an intrinsic or 'underlying' value).

I don't think the SEC is totally comfortable with the use of intrinsic value.  Therefore, from the 2012 annual report onwards, Brookfield discloses the firm's intrinsic value on an annual basis only (i.e. not quarterly) and all discussion and derivation of intrinsic value will take place in the "Additional Information" report, which is released alongside the annual report.

http://www.brookfield.com/_Global/42/img/content/File/Investor%20Relations/Supplemental%20Information/2012/Supplemental%20Information%202012_F1.pdf

Hope this helps.

I was hoping that it would still be listed annually--did you get that confirmed?  I was mostly concerned that we would not get that information anymore.

WhoIsWarren

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Re: BAM - Brookfield Asset Management
« Reply #109 on: September 03, 2013, 03:44:41 PM »
Yes Racemize, we should still get the annual info.  At least that's my understanding of it!

Incidentally, I'm only now getting to looking closely at the spreadsheet of historic BVPS that you posted up a few months back.  I carried out the same exercise and, I've not double-checked my work yet but, my numbers don't exactly tally with yours.  Not that we're a million miles out -- mostly plus or minus 5% each year -- but I'd still like to see your workings in case I've made mistakes.

I'm also not finding the "really odd adjustments to BVPS throughout" that you mentioned.  The group changed its reporting currency in 2003 from C$ to U$ and there were 3 for 2 share splits on 3 occasions.  Apart from that, the numbers were hardly ever restated, with the exception of the introduction of IFRS and intrinsic value, which the group first estimated in 2008 and later revised significantly upwards in 2009.

I'll hopefully get to post my spreadsheet up tomorrow and we can discuss these issues then.
« Last Edit: September 04, 2013, 12:20:16 AM by WhoIsWarren »