BN

"However, a large portion [813s] of this bullishness is also related to [816s] Brookfield Asset Management. BAM is [818s] actually the company managing that $200 [820s] billion, and they're the company working [822s] with these sovereign governments to [824s] build their data infrastructure. They're [826s] going to be managing all of the capital. [828s] So that tailwind is actually mostly for [831s] BAM as well and it will benefit [833s] Brookfield Corporation because they own [835s] 73% of BAM"

"And here you [1074s] can see that BAM's historical median [1076s] price to earnings ratio has been 34.5. [1079s] And this business sells for a premium [1081s] because it has 60% profit margins. It's [1084s] growing by 20% per year and it pays out [1086s] all of its profits as a dividend that [1088s] grows over time. So it is a very [1090s] attractive stock for the market and for [1092s] investors and that is why it has [1094s] commanded such a high multiple [1096s] historically. Now today BAM is"

"And the answer is because I wanted [717s] to reduce my exposure due to the [720s] execution risk and lower expected [722s] returns. But I still think the long-term [724s] underlying thesis is here."

"But at the same time, I've [18s] also reduced my overall Brookfield [20s] exposure in my portfolio from over 20% [23s] to around 10 to 11% now. And again, with [26s] the majority of that being in Brookfield [28s] Asset Management and not in Brookfield [30s] Corporation"

"However, Brookfield [688s] Asset Management is the one shining star [691s] that's actually been continuing to [692s] execute, continuing to hit its targets. [694s] And I actually think that this business [696s] is on track to beat its targets [698s] specifically for this business. And that [700s] is part of the reason why I have rotated [702s] more of my BN into BAM because BAM has a [706s] much better execution history."

"So for all of [1147s] the reasons that I have discussed in [1148s] this video, that is why I have rotated a [1150s] significant amount of my BN position [1152s] into BAM and also reduced my Brookfield [1154s] Corporation position overall."

"So the TLDDR [78s] is that Brookfield Asset Management has [81s] a better, more consistent track record, [83s] stronger execution, and I believe is [85s] offering more value. So that is the [87s] TLDDR for why I made the rotation from [89s] BN to BAM. And then the TLDDR for why I [91s] decided to reduce my overall Brookfield [93s] Corporation exposure is because the [96s] business is now on track to miss its [98s] 2025 guidance that it put out."

"As I have been saying, [893s] Brookfield asset management has [895s] continued to perform well and BN owns [897s] 73% of that."

"Brookfields Corporation, the BN ticker. Now, don't panic and don't freak out because I'll just get right to it. The reason I am trimming down my BN position is to add to BAM."

"why would I trim down my BN position to rotate it into BAM"

"I now think that this relationship of value has flipped again, where I now think that there's a very strong argument that BAM is offering more value than BN at the respective prices. So, I have trimmed down my BN position and rotated that capital into BAM."

"I want to show you my DCF on Brookfield Corporation."

"I also think that this stock is offering more value than Brookfield's Corporation. And on top of that, it pays a very nice 4.3% dividend in the stock market today. And this dividend should continue to grow. So, I'm adding additional income to my portfolio by making this switch as well as increasing my future potential returns because I think that BAM could offer a higher compounded annual growth rate from here. So yes, I have officially made the switch and I have trimmed down my Brookfield Corpo"