Robert McWhirter s Top Picks: May 13, 2021
Paul Harris Top Picks: May 12, 2021
Fed s Clarida plays down significance of rising inflation
Stocks slide for second day; treasury yields rise
The options market may be fueling the turbulence in tech shares
Bruce Campbell s Top Picks: May 11, 2021
Upstart crypto exchange FTX surges toward top of trading ranks
Rout lands on Nasdaq where shorts are massing, bulls getting out
Tech sends stocks down with inflation angst rising
Billionaire Alan Howard to return cash from secretive hedge fund
Ryan Bushell s Top Picks: May 10, 2021
Larry Berman: History of commodity cycles suggests prices don t go up forever
Bezos sells US$2.4B of Amazon shares in second wave this week
Brookfield Asset Management recorded record-high funds from operations in the first quarter but largely thanks to its private equity and asset management segments, while its real estate assets continue to face headwinds.
Should You Invest in Brookfield Asset Management Inc. (BAM)?
Third Avenue Management, an investment management firm, published its “Real Estate Value Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of +10.70% was recorded by the fund for the Q1 of 2021, outperforming the benchmark, FTSE EPRA NAREIT Developed Index, that rose to +6.11% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Third Avenue Management, in its Real Estate Value Fund Q1 2021 investor letter, mentioned Brookfield Asset Management Inc. (NYSE: BAM), and shared their insights on the company. Brookfield Asset Management Inc. is a Toronto, Canada-based asset management company that currently has a $71.2 billion market capitalization. Since the beginning of the year, BAM delivered an 11.00% return, extending its 12-month gains to 40.95%. As of May 11, 2021, the stock closed at $45.81 per share.
Image source: Getty Images
The Canadian currency keeps powering higher in recent days. On May 6, 2021, the loonie sparkled the brightest with its 0.95% gain the highest one-day gain since September 2017. A significant factor for the increase was the oil price rally. As one of the world’s major copper producers, the country also benefits from copper prices surging to record peak.
Despite the 207,000 lost jobs in April 2021, the Canadian dollar held near its strongest level in three-and-a half years to extend the win streak to six straight weeks. The Bank of Canada’s announcement that it would begin hiking interest rates and slow down bond purchases likewise gave the loonie more strength.