Bruce Flatt is an absolute money managing genius. Like Charlie Munger says: there are very few great capital allocators out there, finding them is like finding a diamond. Bruce Flatt is one of them. As a BAM shareholder, I really hope Bruce stays on for a very very long time and continues to guide Brookfield to more and more success.
Thank you Mr. Rubinstein for doing these interviews. It's incredibly educational and inspiring. I've taken a lot of my learnings from these interviews to help propel my own career.
Several thoughts 1. David Rubenstein asks very good questions, that he clearly knows the answers on but his listeners do not. 2. His guest truly respect Rubenstein and are willing to answer his questions in depth. 3. This podcast is truly project of passion for Rubenstein. He is a very busy guy and does not need any additional money. 4. The Brookfield stock has done well since 2006 since it well public, from $5 to about $47 5. If your kids want a career in business, tell them to join an investment banking, asset management or venture capital firm. The few people who have joined these firms have the highest salaries.
Bruce Flatt is a humble guy, who does not take full credit of what he has achieved for Brookfield. Naturally, Brookfield had a great break in the early 1990s when Olympia and York went under and they took over some of the latter ‘s gem assets. Thereafter, they build a great portfolio of assets with financial discipline and ride on the falling interest rate environment. A 20% compound average return can only be done in a dream for most asset managers! Nevertheless, it is interesting to see whether Flatt could achieve the same return rate in a much higher interest rate environment in the coming years.
It was claimed in the UK that by selling the power infrastructure to private companies, the savings from a streamlined operation would mean lower power costs however this hasn't materialized. Initially the costs were lowered at the expense of maintenance and ultimately prices went up.
The average price per Kwh for Brookfield IL is 16 cents / Kwh on the other hand at Hydro-Quebec, which is owned by the Quebec govt. it's 6.059 cents / Kwh (in CAD) converted to USD that's 4.5 cents per Kwh which goes to show that just because something is government owned, it doesn't mean it will be more expensive. The CEO's pay increase of Hydro Quebec has to be approved by the government. The Brookfield IL rate is 2% higher than the average electricity rate in Illinois of 15.24 ¢/kWh.
Amen I have Brookfield, their renewables also they manage my wind turbines. Someone said about 20 years ago Brookfield will be the next Warren Buffet company per se.
One excellent example of how private entities can be more efficient than the government is the case of parking meters in Chicago. Before those were privatized in 2008, street parking was 25 cents per hour in most neighborhoods. As soon as parking meters were privatized, the prices quadrupled and in some parts are now $7 per hour. That was a genius idea of how to make parking meters super profitable, no government is able to do that. /s
And a 3 billion dollar 5 year public transportation project managed by our gov is still far away from completion after 16 years, and the cost has ballooned to 15 billion dollars with no completion date. And it's in a first world country. What's your point?
"Governments can't afford to provide infrastructure anymore because of their debt, so that's moving into private hands" How much more efficient would our countries become if they operated like businesses.
It just transfers debt from the public sector government debt to the private sector, debt doesn't disappear it pop's up in another place be it bank's or private equity lender's but if the private sector companies are mismanaged or overleveraged and interest rates rise, when they companies go bankrupt the debt lands back on the government's structural debt books, this is very dubious process!
@@ominollo I am going in hard on BAM, Re-Insurance and BIP. I have found the research that the experts have done and compared it with mine. You can find a .30 dividend on a $17.00 stock or a $30 stock or $50 stock, or a $100.00 stock. Would you buy the $17.00 stock or is it too good to be true? Which business is better? Read The Intelligent Investor by Benjamin Graham. Read Value Investing From Graham to Buffet & Beyond by Bruce C. Greenfield & Judd Kahn. Those 2 books were instrumental in clearing the foggy confusion & fear of the market from my mind. It really helped. Good luck, I am sure you will be careful with your money! Sorry for the long bit here!
Canadians need this interview to be dubbed in french, too. Pretty soon, it will be law via their 'internet streaming' legislation. just giving you a heads up if youre going to interview more canadians in the future and want your channel available to canadian residents
A executive branch highly over compensated leveraging public institutional funds for private profits. Socialism from the fed for the ivy league class and ruthless capitalism for the rest. Got it. Ideological opposition firmly biased.
When the tide rises it lifts all ships, this guy is nothing special, the American economy and stock markets have lifted the Brookfield ship for 30 years, there's something shady about this individual, to say "anything with B in front of it you should invest" is pure vanity, if the economy has a recession at some point his shareholders will lose lots of money, he won't.
Bruce Flatt is an absolute money managing genius. Like Charlie Munger says: there are very few great capital allocators out there, finding them is like finding a diamond. Bruce Flatt is one of them. As a BAM shareholder, I really hope Bruce stays on for a very very long time and continues to guide Brookfield to more and more success.
He is most definitely ‼️🤗 Lucky to call him my cousin🇨🇦
@@lornasmith2944 are you on his will?
@@mastersinrhaha good question 😂
Always a great pleasure to watch David's interview. This one is especially good among recent episodes.
Thank you Mr. Rubinstein for doing these interviews. It's incredibly educational and inspiring. I've taken a lot of my learnings from these interviews to help propel my own career.
Several thoughts
1. David Rubenstein asks very good questions, that he clearly knows the answers on but his listeners do not.
2. His guest truly respect Rubenstein and are willing to answer his questions in depth.
3. This podcast is truly project of passion for Rubenstein. He is a very busy guy and does not need any additional money.
4. The Brookfield stock has done well since 2006 since it well public, from $5 to about $47
5. If your kids want a career in business, tell them to join an investment banking, asset management or venture capital firm. The few people who have joined these firms have the highest salaries.
I love David's genuine and smart questions!
Fabulous Interview, great insights.
Canada's Birkshire. No small feat. One of my favourites.
Bruce Flatt is a humble guy, who does not take full credit of what he has achieved for Brookfield. Naturally, Brookfield had a great break in the early 1990s when Olympia and York went under and they took over some of the latter ‘s gem assets. Thereafter, they build a great portfolio of assets with financial discipline and ride on the falling interest rate environment. A 20% compound average return can only be done in a dream for most asset managers! Nevertheless, it is interesting to see whether Flatt could achieve the same return rate in a much higher interest rate environment in the coming years.
David you a good teacher about life.Thank you for your wisdom that share with your audience.
Great one as always, although i would've love a deep dive on the infrastructure side
This is one of those most interesting interviews by David Rubenstein.
Why hate on Bruce and Brookfield
please keep these videos coming, so much value
David does good interviews
I LOVE THESE VIDEOS!!!!! Thank you Mr Rubenstein
It was claimed in the UK that by selling the power infrastructure to private companies, the savings from a streamlined operation would mean lower power costs however this hasn't materialized. Initially the costs were lowered at the expense of maintenance and ultimately prices went up.
Thanks for your time on this session
Ruby pushing the interview limits a bit on this one. Fantastic!
I just keep chucking my money at Brookfield. I like Bruce.
Once again excellent interview!
The average price per Kwh for Brookfield IL is 16 cents / Kwh on the other hand at Hydro-Quebec, which is owned by the Quebec govt. it's 6.059 cents / Kwh (in CAD) converted to USD that's 4.5 cents per Kwh which goes to show that just because something is government owned, it doesn't mean it will be more expensive. The CEO's pay increase of Hydro Quebec has to be approved by the government. The Brookfield IL rate is 2% higher than the average electricity rate in Illinois of 15.24 ¢/kWh.
Love Mr. Flatt's philosophy!
May all being be healthy, be well, be free!
Thanks David for good interviews.
Amen I have Brookfield, their renewables also they manage my wind turbines. Someone said about 20 years ago Brookfield will be the next Warren Buffet company per se.
Informative. Thank you.
Thank you Mr Rubenstein love the video
Wish you talked to him about office and malls
I'd love to see a few other billionaires next:
Dan Gilbert
Sam Zell
Stephen Ross
Donald Bren
Interesting list!
They've done an interview with Stephen Ross
Especially Donald Bren. Talk about staying undercover, Bren has very very few publix interviews.
Bobby Axelrod! Seriously, how does. Billions stack up against reality.
Great insights!
He’s true leader. I love compound miracle that he remember us.
Do you know where i can get the opening music track used in this video?
“And we don’t think that’s going to happen [interest rates spiraling upwards]”
Bruce Flatt make David jaw His bone regarding government inefficiency, but I think it’s happened in every country except Singapore
When it says compounded 20% over last 20 years does it refer to gains on BN or some other entity.
One excellent example of how private entities can be more efficient than the government is the case of parking meters in Chicago. Before those were privatized in 2008, street parking was 25 cents per hour in most neighborhoods. As soon as parking meters were privatized, the prices quadrupled and in some parts are now $7 per hour. That was a genius idea of how to make parking meters super profitable, no government is able to do that. /s
And a 3 billion dollar 5 year public transportation project managed by our gov is still far away from completion after 16 years, and the cost has ballooned to 15 billion dollars with no completion date. And it's in a first world country.
What's your point?
"Governments can't afford to provide infrastructure anymore because of their debt, so that's moving into private hands" How much more efficient would our countries become if they operated like businesses.
It just transfers debt from the public sector government debt to the private sector, debt doesn't disappear it pop's up in another place be it bank's or private equity lender's but if the private sector companies are mismanaged or overleveraged and interest rates rise, when they companies go bankrupt the debt lands back on the government's structural debt books, this is very dubious process!
good for the vultures@@paultweedley2026
This is a great money manager.
Are hydro dams part of their infrastructure business or their renewables business?
Very few people know that Brookfield was in fact borne in Brazil, BRASCAN, Brazil- Canada.
Why on this chanel i receive a d&g as????!??
Love from Portugal 🇵🇹🇵🇹🇵🇹🇵🇹🇵🇹
Bruce's comment about interest rates not going up, was made 5 months ago. Now what? How does this change the entire conversation?
Too bad I didn’t know anything about Brookfield 15 years ago 😞
It's never too late. How much are you putting into Brookfield today and next year, and so on? At 20% growth what are you waiting for? Do it!
@@JebbAdams I have a small position because the >20% growth for the next years seems too good to be true 🙂
@@ominollo I am going in hard on BAM, Re-Insurance and BIP. I have found the research that the experts have done and compared it with mine. You can find a .30 dividend on a $17.00 stock or a $30 stock or $50 stock, or a $100.00 stock. Would you buy the $17.00 stock or is it too good to be true? Which business is better?
Read The Intelligent Investor by Benjamin Graham. Read Value Investing From Graham to Buffet & Beyond by Bruce C. Greenfield & Judd Kahn. Those 2 books were instrumental in clearing the foggy confusion & fear of the market from my mind. It really helped. Good luck, I am sure you will be careful with your money! Sorry for the long bit here!
Great
Great canadian.
Graftech only moved sideways in 2 year's, probably shouldn't have bothered
Bruce Flatt is so brilliant !
D R is great.
Why do I feel like they hate each other lol
Canadians need this interview to be dubbed in french, too. Pretty soon, it will be law via their 'internet streaming' legislation. just giving you a heads up if youre going to interview more canadians in the future and want your channel available to canadian residents
thats a stupid law
Loool, ain't nobody going to follow your stupid Canadian laws here in America.
A executive branch highly over compensated leveraging public institutional funds for private profits. Socialism from the fed for the ivy league class and ruthless capitalism for the rest. Got it. Ideological opposition firmly biased.
Imagine hiring Carney… window dressing
My dog made a lot of money in the sp500 last 30 years too
Should've bought BAM instead. Tell your dog to have fun staying poor.
Blackfield
When the tide rises it lifts all ships, this guy is nothing special, the American economy and stock markets have lifted the Brookfield ship for 30 years, there's something shady about this individual, to say "anything with B in front of it you should invest" is pure vanity, if the economy has a recession at some point his shareholders will lose lots of money, he won't.
Bruce looks worried ... so I decided not to invest!
So he got lucky.
This Dude has the vybe of a scientologists totally mad eyes...
One the least impressive interviewees David has ever had