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Buyback Bets Span the Globe
12/19/2013 10:00 am EST
David Fried, whose Buyback Premium Portfolio is beating the S&P 500 by more than 92% since its inception in 2000, has added two global plays to his buy list. Here's the latest from The Buyback Letter.
Brookfield Infrastructure Partners (BIP) owns and operates a cornucopia of infrastructure—premier utilities, transport, and energy in North and South America, Australia, and Europe.
Brookfield has one of the world's largest export terminals, more than 6,150 miles of transmission lines in North and South America and more than 2.5 million electricity and natural gas connections.
Analysts say Brookfield is investing in assets that offer large levels of downside protection and very little risk of competitive challenge, while also having minimal expense to maintain or support over time. They also applaud it for solid management and an unassailable market position.
BIP has returned more than 287% over the past five years. Even if you're not interested in investing directly in renewable energy, Brookfield offers a way to hook into the expansion.
The company has reduced shares outstanding by 18.90% over the past 12 months.
Meanwnhile, Rio Tinto PLC (RIO), the world's second largest miner by market capitalization, is a global mining and metals company, focusing on iron ore, aluminum, and copper mining, with operations in more than 40 countries.
It is headquartered in the UK. More than 71,000 people work in more than 40 countries across six continents, heavily in Australia and North America, and also significantly in Asia, Europe, Africa, and South America.
Rio Tinto has some of the most accessible and politically subdued mines in the world, with many of its operations being based in relatively stable countries, such as Australia. This stability is prized by analysts.
RIO has also gained notoriety by replacing iron ore train drivers with computers, to further the company's efforts to trim staff.
Over the past year or so, the company has eliminated more than 2,000 positions—a big savings, particularly since the mining industry's upswing led to salary inflation.
Management has reduced shares outstanding by a whopping 25.26% in the last 12 months.
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