Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM) delivered strong
second-quarter earnings in August, but the stock pulled back anyway, providing
a great opportunity to pick up shares. They reached a low of $47.11, the lowest
they’ve been since the beginning of 2017. Since then, though, shares are up
over 12.5%, leaving investors questioning if Brookfield is still a good
investment.
While it’s true shares are certainly more expensive, I
remain bullish on the company’s long-term prospects and believe investors
should use Brookfield as a core portfolio holding. Few other companies can give
you exposure to such a diverse bag of assets like Brookfield, and the
second-quarter results show that.
Assets under management continue to rise. In total, the
company is sitting on US$257.5 billion, which is up 5.8% from a year prior.
When you have that much on your book, you can get creative in ways you or I
could only dream of. And when you’ve got solid management like Brookfield does,
that creativity can be lucrative.
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