BN Vs. BAM: Which Brookfield Is the Better Buy?
BN Vs. BAM: Which Brookfield Is the Better Buy?
The Brookfield brand is one of the most trusted in the entire alternative asset management scene. Undoubtedly, many of us grew to love the original Brookfield, which spun off into Brookfield Corp. (TSX:BN) and the yield-heavier Brookfield Asset Management (TSX:BAM) a while ago. Indeed, both companies are incredibly well-run, with incredible stewards running the show. While there may be a "better" buy, I do find that value investors cannot do wrong by owning either or both names as a part of a diversified portfolio.
布鲁克菲尔德的品牌是整个替代资产管理界中最值得信赖的品牌之一。毫无疑问，我们中的许多人喜欢最初的布鲁克菲尔德，后来又分裂为Brookfield Corp.（TSX：BN）和收益更高的Brookfield Asset Management（TSX：BAM）。的确，两家公司都运行得非常出色，而且有着不可思议的管理人员。虽然可能有更好的“买入”选择，但我发现价值投资者作为组合的一部分拥有任一或两个公司都不会错。
At the end of the day, Brookfield is a heavyweight champ in the financial scene. And though BAM or BN stocks could outperform one another over an arbitrary timespan, Canadian investors should be asking themselves what they value more in stock.
归根结底，布鲁克菲尔德是金融领域的重量级冠军。虽然BAm或BN股票在任意时间段内可能会表现出色，但加拿大投资者应该问问自己在股票中更看重什么。
For passive-income seekers, BAM would be the obvious first pick due to its generous 3.75% dividend yield at the time of writing. Of course, the asset manager may not be as "growthy" as shares of BN (Brookfield Corp); regardless, yield seekers are getting a good balance of income and long-term appreciation from the name.
对于寻求被动收入的投资者来说，由于在撰写时具有慷慨的3.75％股息率，因此BAm将成为明显的首选。当然，无论如何该资产管理者可能不像BN（布鲁克菲尔德公司）股份一样具有“成长性”；尽管如此，收益追求者从这个名字中获得了收入和长期升值的良好平衡。
Brookfield Corp.
布鲁克菲尔德公司。
Brookfield Corp. stands out as having a more diversified portfolio for investors who just want exposure to the firm's wealth of assets. Of course, the stock doesn't have nearly as high a yieldâcurrently sitting at 0.7%âas its brother (BAM). If long-term growth is what you seek, though, I find the trade-off to be well worthwhile. The stock is up more than 21% year to date, leaving the TSX Index behind by a pretty wide margin.
在投资者只想要接触公司财富之一的多样化投资组合的情况下，布鲁克菲尔德公司脱颖而出。当然，该股的股息率（目前为0.7％）远不及其兄弟（BAM）那么高。但如果您寻求长期增长，我认为权衡损益是有价值的。该股年初至今上涨逾21％，远远超过了TSX指数。
Moving ahead, I expect the outperformance to continue, especially as Brookfield continues making smart deals in the alternative asset scene. And with shares of BN recently touching new all-time highs (just north of the $63 mark), I find Brookfield Corp. stock to be a timelier play. Though only time will tell if we're at the start of a big summertime breakout, I do view the name as nothing short of intriguing at current levels.
展望未来，我预计优势将继续存在，特别是当布鲁克菲尔德继续在替代资产领域进行聪明的交易时。而且随着BN股票最近触及新的历史高位（略高于63美元），我认为布鲁克菲尔德公司的股票是一个现时性较高的投资。虽然只有时间才能告诉我们是否处于大规模暑期突破的开端，但我认为该名称非常有趣。
Brookfield Asset Management
布鲁克菲尔德资产管理
If you're not a big income fan, perhaps it's Brookfield Asset Management's focusâasset management servicesâthat has your attention. Undoubtedly, a capital-light type of play may be more your cup of tea, especially if you're looking to play increased global interest in investing in alternative cash flow-generative assets. The nearly 4% yield is the star of the show. But with the stock rising north of 9% year to date, BAM is no slouch on the appreciation front, either.
如果您不是大量获得收入的粉丝，也许布鲁克菲尔德资产管理公司的资产管理服务更引人注目。毫无疑问，资本轻型玩法可能更符合您的口味，特别是如果您想玩替代的现金流资产的全球投资兴趣有所增加。近乎4％的收益率是秀场。但是，由于该股票今年以来上涨超过9％，因此BAm在升值方面也不落下风。
At 33.3 times forward price to earnings (P/E), BAM looks more or less fully valued. In any case, I'd much rather go for BN stock over BAM due to its lower forward P/E, which sits at 18.0 times.
按照前一年盈利（P / E）33.3倍计算，BAm看起来或多或少地被高估。无论如何，与BAm相比，我宁愿选择BN股票，因为BN的前期P / E较低，为18.0倍。
Though BN may have a slight edge over BAM at current levels, I'd not be afraid to be a net buyer of both names at today's valuations. The Brookfield family is solid, and if you're looking for the absolute perfect mix of income and growth, perhaps a balance of BN and BAM makes the most sense for investors.
尽管在当前水平上，BN可能略优于BAm，但我不会害怕以今天的估值净买入两个名称中的任何一个。布鲁克菲尔德家族非常稳固，如果您正在寻找收入和增长的绝对完美组合，则BN和BAm的平衡可能是投资者最明智的选择。
The post BN vs. BAM: Which Brookfield Is the Better Buy? appeared first on The Motley Fool Canada.
《BN vs. BAM: Which Brookfield Is the Better Buy?》的文章最初发表于The Motley Fool Canada。