**BN bag holder here…I’ve been DCA’ing as the price has come down and trying to figure out whether I’m seeing an opportunity or concentrating a losing position.**
Originally bought BN because I liked the long-term Brookfield model: owning/operating real assets, the asset-management business, and the ability to recycle capital and redeploy it into new opportunities. Bonus is the long-term compounding track record. But recent price movement has made me question how much of the thesis depends on rate environment.
How exposed is BN to rates? Are there fundamental risks or is this a mere valuation issue?
BN has emphasized conservative financing, inflation-linked cash flows and an ability to take advantage of wonky markets.
I’m mixed bag about whether the market is underappreciating it…