Post #12 by rrr12345 on the Brookfield Corporation board

Stocks A to Z / Stocks B / Brookfield Corporation (BN)

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I think that BN is a remarkable company. They own some premier properties, and they're very good at attracting co-investors for those properties, despite charging high management fees. However the investor presentations are a turn-off. They're sales pitches. They over-value the properties, and they over-value the management business (25x-35x FRE). I think they also over-estimate the rate of growth of fee related earnings (17%/year). Still, I am considering buying BN for the properties, the management fees and the current undervaluation.

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