Investment Q&A

Q: Hi 5i, Can you please explain what Brookfield's Oct 9/24 announcement re "Reorganization of Brookfield Infrastructure Corp" means for shareholders like me that hold full positions in BIP.UN vs BIPC. As other 5i subscribers have mentioned, does this reorganization suggest that BIPC will continue to gain vs BIP.UN? Thanks.

Q: Following these recent QA regarding BN.

Sep30 “ As per the latest annual financials, BN holds a 25.0% interest in Brookfield Asset Management (BAM), a 54.6% interest in Brookfield Renewable Partners (BEP.UN), a 73.9% interest in Brookfield Infrastructure Partners (BIP), and a 34.5% interest in Brookfield Business Partners (BBU)”

Oct01: “Owning the three noted will provide higher income and somewhat similar exposure. But BN will prove the 'private equity' component of its businesses that the others have less of.”

I own BN since BAM-reorg and it did very well this year. If we look at it’s underlying assets : in the last year BAM/BBU did OK but not as much, but both BEP and BIP did poorly. May be a stupid question, why did BN do so well? Market speaking? “private equity” or other assets heavier than we think? Thanks ++

Q: I bought BIP.UN in a registered account about a year ago. Looking back, I would have been better to buy BIPC.

Looking forward ie over the long term, do you think that BIPC will continue to outperform on a total return basis?

Q: I realize there are no withholding taxes on BIP.UN in an RRSP

What about taxes in a tfsa

Thank you

Q: Your thoughts on BIP.UN's results please.

Q: I'm confused about the different Brookfield group of companies (I may not have them all listed), namely, which one should be held under which circumstance (income, growth, registered, unregistered etc) and is it beneficial to hold multiple, and if so which and why. Thanks!

Q: A follow up question to my earlier Q wrt Brookfield Companies.

Can I have you views between BIPC.CA and BIP.UN.CA. I believe they are basically the same company, is this assumption correct??

BIP.UN is a Limited Partnership where BIPC is a corporation, what is the difference, is it mostly how taxes are managed, I know the unit pricing and dividends are different. I will be holding in my RRSP, is one better than the other for this registered account

Q: Hey folks, hope everyone is enjoying the summer season. I own basically an equal weighting of BN (4%), BAM (4%), BEP(4%) in our various accounts. I'd like to buy a 4% position in BIP. Now comes my question, should I be a lumper or splitter - that is, am I ok looking at these as 4% positions, or would I be better to look at this as 12% position moving to 16% wrt Brookfield products??

Q: Would you sell Brookfield Infrastructure? If yes, is there a name you would replace it with?

Q: Would you switch today BEP.UN.CA (still at loss in my RIF) to BIP.UN.CA for 5 - 10 hold? Thank you

Q: Considering starting a new position in CNQ or adding to either BIP or IFC. For a RIF account, long term hold, which one would you choose at todays prices? Could you rank for growth. Thank you.

Q: Current overall portfolio weightings in energy and utilities sectors are as follows: ENB 2.5%, ALA 1.5%, TRP 1.5%, SU 1.5%, BIP.UN 1.5%, PD .75%, TOU .75%, CNQ .5%. Please comment on any possible additions, deletions, switches, increased/decreased weightings, considering a long-term (10 year) time horizon and the impending South Bow spinoff involving TRP

Q: Hello,
I have some exposure to other Brookfield companies (BAM and Renew). I was thinking of adding the Brookfield Infra LP to my RRSP. Long term hold. Are the valuation and long term prospects favorable at the moment in your opinion and is the LP the good choice in a RRSP (as opposed to the sister company which is not an LP)? Thank you.

Q: The ratio of BIPC to BIP.UN was hovering around 1.12 in the past.
Is there any reason as to why recently and specifically today the ratio jumped to 1.21.
That is why BIPC has been appreciating more than BIP.UN lately ?

Q: I have some cash in my RRSP to invest for a long-term hold. My primary goal for these funds is to add income from a higher dividend-paying, large and stable company. I’d also like some upside on capital appreciation although not the primary focus. I’m looking at these companies and I’m open to other suggestions.

Could you please rank these by the potential to increase the dividend over time?

Could you separately rank by potential capital appreciation?

Finally rank by stock price volatility

Much appreciated

Q: I did really well buying oil stocks when oil tanked 4 years ago, and holding during the recovery. What beaten up sector do you feel has great recovery potential like this currently? Would REIT's qualify since rate cuts appear to be coming soon, or are you not as confident in the recovery due to vacancy's & recession possibility? Thx

Q: Your comments on earnings please. Did Brookfield Infrastructure increase its dividend?

Q: Good day,

Did a huge portfolio makeover a few months ago, almost entirely with your picks (minus a few that didn't click for me) and some of my high own high conviction names. For the most part, they've all done pretty well, with the exception of the last few weeks.

1. Is the last few weeks just overall uncertainty/retraction?
2. bep and bip are down ~15%, is it worthwhile getting out and averaging down BAM or BNS?
3. ATS and CELH are down after large runups after I bought. worth buying/averaging down on one of these?
4. DCBO and NXT back to scratch after huge runs. Do you expect those levels to return? Timeline wise? NXT spun from FLEX, but Flex continues to climb
5. KXS is down 8%, and seems pretty spikey over the last 5 years. Just wait for the next one? Should this start to create more of a steadier trend upward?
6. I bought POWL, and it's basically done nothing, thoughts on the company now? alternatives?
7. I saw a youtuber vid that really loved POET for the coming months years. I was telling a friend about it yesterday because I like (and understand) the technology and what it could do. He literally bought some while we were talking yesterday morning and he's up 30%... Are the company fundamentals/contracts improving? or could it just be hype from youtubers and the like?

Almost all of these had some pretty significant periods of running since I rebalanced in Jan/Feb. I know market timing is not a solid practice, but in a lot of these growth names, at what point is that jump worth moving on from, freeing up some cash for another opportunity down the road? And how do you determine whether it's time or not?

Finally, in the event that your attitudes have changed on any of these, do you have a top 3 CAD, top 3 US new ideas over the last few months that have really turned the tide/become strong buys that I may replace/add?

Thanks for everything!

James

Q: Thank you for your ranking of Canadian utilities last week-our investment club had a lengthy discussion yesterday afternoon over the rankings. I found it difficult to defend BIP.UN as first pick with 6:1 debt, meagre/erratic EPS, and growing share dilution vs CPX having similar posted growth rates, 1.5:1 debt, decent EPS and slower share dilution. Any assistance and clarification on this greatly appreciated. Thank you

Q: Hello,

Thank you for all you do.

For a 5-10 yr hold, could you rank the above on total shareholder return vs risk (I am thinking debt exposure/interest rate risk), but there may be others.

Thank you