Every year, we have the chance to hear from some of the great CEO’s. Brookfield Asset Management’s J. Bruce Flatt is one of them.
Over the past 20 years, including the sell-off and partial recovery of the past two years, BAM stock returned 13% per year; over the past 10 years, holders of the stock have seen the stock returned 22% per year.
CEO J. Bruce Flatt published his Letter to Shareholder, and it begins with an overview:
Continue to BAM’s website to read the complete letter.
Thanks to Miguel Barbosa, founder of http://www.simoleonsense.com/ for the tip.
Over the past 20 years, including the sell-off and partial recovery of the past two years, BAM stock returned 13% per year; over the past 10 years, holders of the stock have seen the stock returned 22% per year.
CEO J. Bruce Flatt published his Letter to Shareholder, and it begins with an overview:
After a slow start, 2009 turned out to be one of our more active in the past few years. We made substantial progress in most of our businesses, laying the seeds for future growth. And while it may be some time before we see the full positive impact from these investments, we believe that as the economic recovery takes hold, we will benefit increasingly from our newly acquired assets, the people we have attracted to our operations and the capital we have raised.
We recorded $1.45 billion of cash flow from operations or $2.43 per share. This is slightly higher than 2008, which is indicative of the consistency and resilience of our operating cash flows, particularly those produced by our renewable power generating and commercial office operations.
We have entered into the recovery phase of this economic cycle with our balance sheet in excellent shape, and our franchise bolstered by our performance over the last two years. We have more assets working for each common share outstanding today because we have been able to add substantial assets to the company during these last few years, and because we did not have to dilute our common shareholders at a low point in the market, to ensure our franchise survived the downturn. This should bode well for future cash flow and asset value growth.
Continue to BAM’s website to read the complete letter.
Thanks to Miguel Barbosa, founder of http://www.simoleonsense.com/ for the tip.
- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.
