@topicswithhead perhaps this will clarify things a little more
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@TaxesAreTheft It's exactly as I said. They have sold everything and are now selling their wealth solution. In return, they got the 70% stake in the asset manager
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@topicswithhead ah they have retained their shares in the others but BAM manages them. Makes sense. But they also described it badly. In the last or penultimate call, it sounded like they were selling everything except wealth solution
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•@topicswithhead Yes, it's a bit complicated, but once you understand it, it works. It's like Berkshire taking some of its subsidiaries public to facilitate valuation and create shareholder value. And then there would be Berkshire Asset Management, which manages debt (debt funds, etc.) within Berkshire's assets and collects fees. BAM serves to invest debt capital in the Brookfield universe.
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