BAM.A , Brookfield Asset Management

bam.a feb 17 2013bam.a feb 2013 s

There are a few “Brookfields” around so it can get confusing. This is not the real estate arm. As is so often the case in Canada , and elsewhere for that matter, the glory days for this stock were concentrated in a short 5-year time span. The banks had similar periods about 5 to 7 years earlier. Wealth management is  late to come to the table and is essentially just an euphemism  for the activities brokers engage in, previously referred to by some detractors as burn and churn, but with a somewhat broader base and a little more varnish. More fountain pens and sextants, yachts and so on in the brochures.

After dropping a good 2/3 this stock is fighting it’s way back up. Another $6/7 and it will double top. Given the distinct 5-wave sequence in the c wave of B, we doubt very much that it will get there. We would sell and be grateful for our good fortunes.


If you were thinking about that other Brookfield (Residential Properties) we would also sell;

brp feb 18 2013

Those of you that have a little grey hair, or none at all , may remember these companies better by the name Brascan, an underperforming conglomerate which also had extensive mining operations.