Does the US 10 Year Bond at 2.45% Signal Upcoming Recession?

We have had a huge run up in assets and bull run was extended by US Corp Tax Cuts.
Does the US 10 Year Bond at 2.45% Signal Upcoming Recession?

Time will tell. However it seems like a prudent time to reduce leverage and await better opportunities. Most large P/E managers have lot of cash waiting to deploy. The investor mood is soured by global macro issues but this is not reflected in market valuations.

TransAlta Announces Strategic Investment by Brookfield Renewable Partners

Brookfield Renewable Partners (BEP) is interested mainly in the Alberta Hydro Portfolio.


$750 million investment in two tranches; annual coupon of 7%. The first investment is $350 million in the form of exchangeable debentures at closing (expected in May 2019), with the second tranche of $400 million expected to close in October 2020 in the form of redeemable preferred shares. TransAlta will pay interest and dividends of 7% per year on both securities and Exchangeable into a stake in the hydro assets at 13x EBITDA (as adjusted). Brookfield’s $750 million investment in the securities is exchangeable after December 31, 2024 into an equity interest in an entity holding the hydro assets based on a multiple of 13x the average annual EBITDA generated by the hydro assets.
TransAlta Announces Strategic Investment by BEP

Country Global Ranking Of Happiness Report 2019

Country Global Ranking Of Happiness Report 2019.
Finland, Denmark and Norway are top 3.
Switzerland is 6th, Canada 9th, Australia 10th, UK is 15th and US is 19th.

Many of these countries with top rankings are also countries with good investment potential.

Hotel Leela Venture of India To Sell Assets To Brookfield For $576M

Hotel Leela Venture of India To Sell Assets To Brookfield For $576M. Brookfield has been working on this deal for last year. These are very high quality hospitality assets and consist of hotels that are like palaces. These are unique assets being sold by an over leveraged owner in trouble.

Leela Ventures

Reuters - Brookfield Buys Leela Ventures Hotel Assets

Brookfield to Acquire 62% of Oaktree Capital Management in Strategic and Value Enhancing Acquisition

Brookfield to Acquire 62% of Oaktree Capital Management in Strategic and Value Enhancing Acquisition. Mritik Capital believe this will be a great combination as it broadens BAM expertise into distressed debt investing. BAM can now compete better with BX to be #1 Asset Manager across all alternative asset classes and provide a comprehensive solution to its clients. BAM will issue shares for 5% dilution valued at $2.3B and $2.3B cash for OAK which is fine with BAM shares fairly valued and OAK shares remaining depressed over last 5 years due to elongated credit cycle caused by central bank easy money policies.


The 2 companies will operate separately and collaborate. Howard Marks and Oaktree Management  will remain and continue to operate independently.

Howard Marks Bruce Flatt Bloomberg Interview on Merger

Brookfield to Acquire 62% of Oaktree Capital Management

Brookfield to buy most of Oaktree to build juggernaut to rival Blackstone

Worst Performing S&P 500 Companies Since 09Mar2009

Worst Performing S&P 500 Companies Since 09 Mar 2009.

Best Performing S&P 500 Companies Since 09Mar2009

Best Performing S&P Stocks since 09 Mar 2009 (Last 10 Years) are as below.

S&P has been a 3.3 times bagger in the mean time. ULTA Beauty is a 70 bagger and tops the list. NFLX, AMZN, BKNG are predictable. Some of the other big wonders are surprising and illustrative. The creator of Dental Cosmetic aid Invisalign is a 37 bagger.