The
common thread in what we do is that we buy tangible assets. And everything that
we invest in generally is backed by an asset that generates cash or an asset
that will ultimately turn into generating cash. So we may buy a property
that’s not full, that we need to find the tenants for and invest in, but
ultimately it will generate cash flow. So all the things we have are tangible, and virtually
every investment we make—using a 10-year cash flow model, you can produce what
your internal rate of return will be.
We have office buildings, which are a little bit different
than our power plants, which are a little bit different than our toll-roads—but
from an investment perspective, these are “real” assets. We don’t bet on new
technologies, we don’t do bio-tech; we invest in hard, tangible-type things that generate cash.
Bruce Flatt,
CEO of Brookfield
September 10, 2019
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