BN / BAM pair trade:
– In Dec, Brookfield spun off 25% interest in BAM.
– The spin-off BAM trades at a 100% premium to peers while the remainco BN is significantly undervalued.
– Pair trade isolates BN’s other balance sheet investments for just ~$14bn.
– These investments have an intrinsic value of $51bn.
Exp. gain: Not specified.
Full write-up (free guest account required):
https://www.valueinvestorsclub.com/idea/Brookfield_Corp/0986975634