BAM-- Technical Knock out from the G&M

My confidence in the management and position of this company continues to grow. In an awful environment for financing and raising capital, they continue to outperform all their competitors.

I'll buy at <$20 with conviction. I'm also very interested in some of the preferred offerings.


The Canadian Press
November 7, 2008 at 9:53 AM EST
TORONTO — Brookfield Asset Management Inc., formerly known as Brascan, reported Friday a sharply higher net profit and rising revenue.
Its third-quarter net profit was $171-million (U.S.), or 27 cents a share, up from earnings of $93-million, or 13 cents for the same 2007 period.
Overall revenue jumped to just under $1.3-billion from $980-million, said the company, which reports in U.S. dollars.
In breaking down its quarterly results, Brookfield said increases in operating cash flows were offset by higher non-cash charges, including depreciation on assets bought since the 2007 second quarter.


“Our operating performance in the quarter reflected the durability of our cash flows, most of which are supported by long-term contractual arrangements with credit-worthy counterparties, the high quality of our asset base and operating platforms, and the stability of our long duration investment grade capitalization,” said Bruce Flatt, the company's senior managing partner.
“In the last few months we increased our overall cash holdings and liquidity to more than $3.5-billion, most of that at the Brookfield corporate level.”
“This is one of the highest levels of liquidity we have ever held, but given uncertainty in the markets we want to be prepared for the unknowns, and opportunities which may present themselves in this environment.”
Mr. Flatt said although Brookfield is “exercising caution during these turbulent times, and preserving a high level of liquidity, we are exploring a number of potential opportunities to expand our operating platforms and create additional shareholder value.”
Brookfield Asset Management is focused on property, power and infrastructure assets and has about $90-billion of assets under management.