Q: I have been a shareholder of Brookfield for 14 years and have gotten into the habit of reading CEO (Bruce Flatt) message to shareholders each quarter. I found the sections on in this quarter's letter interesting Share Repurchases and The AI Revolution is Increasingly a Renewable Story that your members may find worth wild reading. He also states that the share price is about 50% of the value of the company. Over the short term I could almost careless about the stock price of the company as the value of the company grows by 20% or so per year. Does this seem out of sorts the way I look at Brookfield.
5i Research Answer:
We don't think so; we think it is one of the best-run companies in Canada with significant potential. Its accounting can be misunderstood but the structure allows for tax savings and very efficient capital allocation. The group has proven its business acumen for more than two decades now.