Takeaways: The real asset industry and where it is headed; value investing in real assets; Brookfield's competitive advantages of scale, global reach and operating capabilities; and technology and its impact on the business.
Chris Swasbrook, Managing Director, Elevation Capital [New Zealand]
Topic: ""I'd like to own either Hershey's or Tiffany's if it's the right price, wouldn't you?" [Charlie Munger, February 2018]
(1) Analysis of one of the above companies via Elevation Capital's framework.
(2) Potential investment idea.