Wednesday, October 30, 2019

2 Recent Buys – BAM, SPGI

A quick update on two purchases in my portfolio. As with the last iteration, this one also includes a new position in the portfolio.

  • First purchase: I added 75 shares of Brookfield Asset Management (BAM.A.TO) @ CAD$70.24. I have been adding to my BAM position regularly over the past few months and getting close to a full position. The stock yields 1.2% and adds US$48 in annual dividends.
  • Second purchase: I initiated a new position in S&P Global Inc (SPGI) @ $245.00. SPGI barely needs any introduction as one of the most recognizable names in finance, esp the debt market as every company that needs to raise funds needs to go through a debt rating process. While companies can issue bonds without a rating (which is inefficient and punitive by the markets), companies simply pay the ratings agency SPGI/MCO/Fitch to have their bonds rated. SPGI has a deep and wide moat and operates in four division (ratings, market intelligence, Platts, and Indices). Overall, SPGI has a terrific business model, thoughtful capital allocation, great management, and a dividend champion (dividend grower for 46 consecutive years). The valuation is a bit on the expensive side, so I have started off with a small starter position and will look for pullbacks to add and build to a full position. Here’s a link to the Investor Factsheet for further reading.
What are your thoughts on these purchases. Share a comment below.
Full Disclosure: Long BAM.A.TO, SPGI. Our full list of holdings is available here.

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