Subject: BAM distributable earnings
Once again, not just good but fantastic posts on this board.

Will eventually get to Brookfield. But very briefly BAM should be trading at a normalised dividend percentage yield in the low to mid 3's rationally (requiring a stock price rise of 5/3.5 or over 40% to recorrect), so I would like to confirm what the *normalised* dividend is (the supposition here was 5% but I want to also check for sure!). It should be 90% of distributable earnings per share. Management fees (thus distributable earnings) have been growing faster than Brookfield conjectured seven years ago, at close to 20% a year but I also need to check to what extent that growth required capital investment from the larger BAM (in other word to what extend of that growth would really be on a per share basis if BAM was formerly separated).

- Manlobbi