Brookfield Asset Management's Turnaround Has Just Begun, I'm Buying

Brookfield Asset Management has just delivered game-changing results. I think the recovery is far from over. I mean record fundraising of $77B in Q2, driven by strength in credit, energy, and AI infrastructure strategies. Also, its fee-related earnings per share surged nearly 20% year-over-year, defying negative sentiment in the asset management sector. I view BAM as undervalued, trading at a forward P/E of ~28.6x, supported by robust buybacks and double-digit total return potential. Despite higher volatility and a premium to peers, BAM's fundamentals and growth initiatives justify my continued buy rating.

I first covered Brookfield Asset Management ( BAM ) 2 months ago. I said it was a buy. Since then, I've watched its stock price jump by over 7%, which was more than double what the broad market did.