A pair of my favorites are buys once again, for the first time in a long time. So I thought I would spend a little time fleshing out why these two stocks are such good ones to own for the long haul.
The first is Brookfield Asset Management (NYSE:BAM), which owns 170 hydroelectric and wind facilities; 275 million square feet of commercial real estate; and ports, railroads, pipelines, transmission lines and timberland. The company is a storehouse of hard assets that should provide good returns over time. In fact, the stock has been a great performer:
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The Value of a Thief
“Every human problem is an investment opportunity if you can anticipate the solution,” the old gentleman told me. “If not for thieves, who would buy locks?”
I just met this remarkable fellow, full of wisdom on investing, yet hardly known beyond a small group of fans. His name is Thomas Phelps, and he’s had quite a career. He was The Wall Street Journal’s Washington bureau chief, a former editor of Barron’s, a partner at a brokerage firm, the head of the research department at a Fortune 500 company and, finally, a partner at Scudder, Stevens & Clark (since bought out by Deutsche Bank). Phelps retired in Nantucket after a varied 42-year career in markets.
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