Subject: Re: Diversifying away from Berkshire
Brookfield Corporation (BN) indeed has a few higher level attributes in common with Berkshire, which makes it relevant for this thread:
1. Very capital-compounding-oriented with long-term planning. Brookfield did exceptionally well through 2009 and 2020 regarding the business itself which has no relation to the temporary changes to the public quotes (there are good reasons for this economic robustness, but it would make this post really long and I'm making a different point, last paragraph).
2. Analogous to Berkshire having a compounding book which is boosted (risk-free leveraged) by Berkshire's off-balance-sheet float. In the case of Brookfield Corporation, the 'float analogy' is its fee earnings which have also traditionally been not marked on the books, but providing a *lot* of extra income in addition to the per-share increases in the book value from annually rising rents, asset quality improvements, and sales of mature assets (on average as a hindsight-observation, these sales have been ~10% above the marked book value).
3. Very scalable (relates to 1). Deals improve as they become larger, because of an increasing lack of competition for (a very long run-way of) gigantic public property sales.

Despite this being interesting enough to Berkshire investors to be only semi-OT on the Berkshire Board, definitely don't let that cause you to miss out on the really insightful posts on the Brookfield Corporation board:
http://www.digitalscores.com/M...

- Manlobbi