<p>最优秀的公司能够年复一年地提供超过平均水平的总回报。例如，<strong>沃尔玛</strong> 和 <strong>伯克希尔哈撒韦</strong>（BRK.A）（BRK.B 0.27%）在过去 30 年中分别实现了 12% 和 13% 的年化回报，超越了 <strong>标准普尔 500 指数</strong> 的 11%。与此同时，<strong>亚马逊</strong> 在过去 25 年中实现了 18% 的年化回报，远高于标准普尔 500 指数的 8%。</p>
<p>然而，尽管这些知名公司的回报表现出色，但与一个鲜为人知的财富创造者相比，它们显得微不足道：<strong>布鲁克菲尔德公司</strong>（BN 0.26%）。这家加拿大投资公司在过去 30 年中实现了 18% 的年化总回报，过去 25 年则为 19%。</p>
<p>布鲁克菲尔德公司相信，未来对其投资者来说会有更好的日子。以下是它计划在未来五年及更长时间内让投资者变得更加富有的详细介绍。</p>
<h2>简单的策略</h2>
<p>布鲁克菲尔德公司旨在为其投资者提供超过 15% 的长期回报。该公司相信，它比以往任何时候都更有能力实现这一目标。它有一个简单的计划，以长期复合投资者的财富：</p>
<ol>
<li>投资于优秀的企业。</li>
<li>良好地运营公司。</li>
<li>明智地分配多余的自由现金流。</li>
<li>使所有人都与其长期目标保持一致。</li>
<li>随着周围世界的发展而演变。</li>
</ol>
<p>布鲁克菲尔德公司与伯克希尔哈撒韦有许多相似之处。与沃伦·巴菲特的公司一样，布鲁克菲尔德也有保险业务，并收购其控制的运营企业。它努力识别可以以合理价格收购的高质量企业。它寻求那些能够以有效的方式部署资本以增长收益的企业。布鲁克菲尔德专注于那些具有韧性收益和强劲经常性现金流的公司，如基础设施、房地产和可再生能源领域的公司。</p>
<p>虽然巴菲特努力以合理的价格购买优秀公司，但布鲁克菲尔德通常寻求收购需要运营改善的公司。它具有更强的私募股权思维，专注于通过降低成本来提高企业的效率。</p>
<p>然后，该公司旨在明智地分配其运营企业产生的不断增长的多余现金流，这也是巴菲特的公司所努力做到的。布鲁克菲尔德将资金再投资于其运营企业并收购新企业。它还投资于其另类资产管理附属公司 <strong>布鲁克菲尔德资产管理</strong> 管理的基金。该公司通常将 75% 的年度自由现金流再投资，以为股东复合价值。剩余的现金将通过分红和股票回购返还。</p>
<p>布鲁克菲尔德还旨在使组织内的每个人都围绕其长期目标保持一致。它专注于明确的目标，内部晋升，并与长期薪酬保持一致。</p>
<p>最后，该公司努力与周围的世界共同发展。例如，它创建了上市实体——即 <strong>布鲁克菲尔德可再生能源</strong>、<strong>布鲁克菲尔德基础设施</strong> 和 <strong>布鲁克菲尔德商业</strong>——并增加了退休和财富解决方案业务。随着全球经济的变化，它还调整了其资产类别，增加了数据基础设施、核能和物流等新平台。</p>
<h2>价值的累积</h2>
<p>布鲁克菲尔德公司目前估计，在未来五年内，它可以以超过 20% 的年增长率增长每股现金流。这意味着该公司将在未来五年内产生约 470 亿美元的累计自由现金流，或大约每股 30 美元。这为其明智分配现金提供了充足的资金。</p>
<p>该公司保守估计，其业务目前的价值约为每股 84 美元，远低于当前约 55 美元的股价。它相信，明智地分配资本的能力应能实现 16% 的投资资本年化回报。这将使股票的基础价值在 2029 年增长至 176 美元。与此同时，考虑到当前股价与公司基础价值之间的脱节，总回报潜力甚至更高，达到每年 29%。</p>
<p>换个角度看，布鲁克菲尔德公司可以将今天大约 5500 美元的投资在五年内增长到约 17600 美元，前提是股价交易在公司估计的价值上。这是来自一家拥有长期股东价值增长历史的公司的强劲回报潜力。</p>
<h2>丰富投资者的计划</h2>
<p>多年来，布鲁克菲尔德公司一直是一个出色的投资。该公司通过其简单的计划不断为股东创造强劲的总回报。该公司相信，它在未来五年内继续为投资者增加价值的能力处于极佳的位置，这使得它成为现在购买的绝佳股票，如果你想增加财富。</p>

<p>Brookfield Corporation 旨在为投资者提供超过 15% 的年回报，利用投资优质企业、运营改善和明智资本配置的策略。在未来五年内，预计每股现金流将增长 20%，公司估计将实现显著的累计自由现金流。目前，Brookfield 的股票被低估，潜在年化回报可达 29%，使其成为一个吸引人的财富增长投资机会</p>

<p>The best companies can deliver above-average total returns year after year. For example, <strong>Walmart</strong> and <strong>Berkshire Hathaway</strong>(BRK.A) (BRK.B 0.27%) have delivered 12% and 13% annualized returns, respectively, over the past 30 years, outpacing the <strong>S&amp;P****500</strong>'s 11%. Meanwhile, <strong>Amazon</strong> has delivered an 18% annualized return during the past 25 years, well ahead of the S&amp;P 500's 8% return.</p>
<div class="lb-trans"><p>最优秀的公司能够年复一年地提供超过平均水平的总回报。例如，<strong>沃尔玛</strong> 和 <strong>伯克希尔哈撒韦</strong>（BRK.A）（BRK.B 0.27%）在过去 30 年中分别实现了 12% 和 13% 的年化回报，超越了 <strong>标准普尔 500 指数</strong> 的 11%。与此同时，<strong>亚马逊</strong> 在过去 25 年中实现了 18% 的年化回报，远高于标准普尔 500 指数的 8%。</p>
</div><p>However, as good as those returns from these well-known companies have been, they pale in comparison with a lesser-known wealth creator: <strong>Brookfield Corporation</strong>(BN 0.26%). The Canadian investment firm has delivered an 18% annualized total return over the past 30 years, and 19% over the past 25.</p>
<div class="lb-trans"><p>然而，尽管这些知名公司的回报表现出色，但与一个鲜为人知的财富创造者相比，它们显得微不足道：<strong>布鲁克菲尔德公司</strong>（BN 0.26%）。这家加拿大投资公司在过去 30 年中实现了 18% 的年化总回报，过去 25 年则为 19%。</p>
</div><p>Brookfield Corporation believes even better days lie ahead for its investors. Here's a closer look at its plan to make them a lot richer over the next five years and beyond.</p>
<div class="lb-trans"><p>布鲁克菲尔德公司相信，未来对其投资者来说会有更好的日子。以下是它计划在未来五年及更长时间内让投资者变得更加富有的详细介绍。</p>
</div><h2>A simple strategy</h2>
<div class="lb-trans"><h2>简单的策略</h2>
</div><p>Brookfield Corporation aims to deliver 15%-plus returns over the long term for its investors. The company believes it's in a better position to achieve that goal than ever before. It has a simple plan to compound the wealth of its investors over the long term:</p>
<div class="lb-trans"><p>布鲁克菲尔德公司旨在为其投资者提供超过 15% 的长期回报。该公司相信，它比以往任何时候都更有能力实现这一目标。它有一个简单的计划，以长期复合投资者的财富：</p>
</div><ol>
<li>Invest in good businesses.</li>
<li>Run the companies well.</li>
<li>Allocate excess free cash flow wisely.</li>
<li>Align everyone with its long-term objectives.</li>
<li>Evolve with the world around it.</li>
</ol>
<div class="lb-trans"><ol>
<li>投资于优秀的企业。</li>
<li>良好地运营公司。</li>
<li>明智地分配多余的自由现金流。</li>
<li>使所有人都与其长期目标保持一致。</li>
<li>随着周围世界的发展而演变。</li>
</ol>
</div><p>Brookfield Corporation shares many similarities with Berkshire Hathaway. Like Warren Buffett's company, Brookfield has insurance operations and buys operating businesses it controls. It strives to identify high-quality businesses that it can buy for value. It seeks out those that can deploy capital in a productive way to grow their earnings. Brookfield focuses on companies with resilient earnings and strong recurring cash flows, like those in the infrastructure, real estate, and renewable energy sectors.</p>
<div class="lb-trans"><p>布鲁克菲尔德公司与伯克希尔哈撒韦有许多相似之处。与沃伦·巴菲特的公司一样，布鲁克菲尔德也有保险业务，并收购其控制的运营企业。它努力识别可以以合理价格收购的高质量企业。它寻求那些能够以有效的方式部署资本以增长收益的企业。布鲁克菲尔德专注于那些具有韧性收益和强劲经常性现金流的公司，如基础设施、房地产和可再生能源领域的公司。</p>
</div><p>While Buffett strives to buy wonderful companies at a fair price, Brookfield often seeks to purchase companies in need of operational improvement. It has a more private equity mindset of fixing companies by reducing costs to improve the efficiency of the business.</p>
<div class="lb-trans"><p>虽然巴菲特努力以合理的价格购买优秀公司，但布鲁克菲尔德通常寻求收购需要运营改善的公司。它具有更强的私募股权思维，专注于通过降低成本来提高企业的效率。</p>
</div><p>The company then aims to wisely allocate the growing excess cash flows its operating businesses produce, which Buffett's company also strives to do. Brookfield reinvests money back into its operating businesses and buys new ones. It also invests in the funds managed by its alternative asset management affiliate, <strong>Brookfield Asset Management</strong>. The company typically reinvests 75% of its annual free cash flow to compound value for shareholders. It will return the remaining cash through dividends and share repurchases.</p>
<div class="lb-trans"><p>然后，该公司旨在明智地分配其运营企业产生的不断增长的多余现金流，这也是巴菲特的公司所努力做到的。布鲁克菲尔德将资金再投资于其运营企业并收购新企业。它还投资于其另类资产管理附属公司 <strong>布鲁克菲尔德资产管理</strong> 管理的基金。该公司通常将 75% 的年度自由现金流再投资，以为股东复合价值。剩余的现金将通过分红和股票回购返还。</p>
</div><p>Brookfield also aims to align everyone in the organization around its long-term objectives. It focuses teams on clear goals, promotes from within, and aligns long-term compensation.</p>
<div class="lb-trans"><p>布鲁克菲尔德还旨在使组织内的每个人都围绕其长期目标保持一致。它专注于明确的目标，内部晋升，并与长期薪酬保持一致。</p>
</div><p>Finally, the company strives to evolve with the world around it. For example, it has created listed entities -- namely, <strong>Brookfield Renewable</strong>, <strong>Brookfield Infrastructure</strong>, and <strong>Brookfield Business</strong> -- and it has added retirement and wealth solutions businesses. It has also adapted its asset classes as the global economy has changed, adding new platforms such as data infrastructure, nuclear, and logistics.</p>
<div class="lb-trans"><p>最后，该公司努力与周围的世界共同发展。例如，它创建了上市实体——即 <strong>布鲁克菲尔德可再生能源</strong>、<strong>布鲁克菲尔德基础设施</strong> 和 <strong>布鲁克菲尔德商业</strong>——并增加了退休和财富解决方案业务。随着全球经济的变化，它还调整了其资产类别，增加了数据基础设施、核能和物流等新平台。</p>
</div><h2>Adding up the value</h2>
<div class="lb-trans"><h2>价值的累积</h2>
</div><p>Brookfield Corporation currently estimates that it can grow its cash flow per share at a more than 20% annual rate over the next five years. That implies the company will produce about $47 billion of cumulative free cash flow over the next five years, or roughly $30 per share. That gives it a lot of cash to allocate wisely.</p>
<div class="lb-trans"><p>布鲁克菲尔德公司目前估计，在未来五年内，它可以以超过 20% 的年增长率增长每股现金流。这意味着该公司将在未来五年内产生约 470 亿美元的累计自由现金流，或大约每股 30 美元。这为其明智分配现金提供了充足的资金。</p>
</div><p>The company conservatively estimates that its business is worth about $84 per share today, well below the current share price of around $55. It believes its ability to allocate capital wisely should deliver annualized returns on invested capital of 16%. That should grow the underlying value of the shares to $176 by 2029. Meanwhile, given the current disconnect between the share price and the underlying value of the company, the total return potential is even higher at 29% annually.</p>
<div class="lb-trans"><p>该公司保守估计，其业务目前的价值约为每股 84 美元，远低于当前约 55 美元的股价。它相信，明智地分配资本的能力应能实现 16% 的投资资本年化回报。这将使股票的基础价值在 2029 年增长至 176 美元。与此同时，考虑到当前股价与公司基础价值之间的脱节，总回报潜力甚至更高，达到每年 29%。</p>
</div><p>Looking at it another way, Brookfield Corporation could grow a roughly $5,500 investment made today into about $17,600 in about five years, assuming the share price trades at the company's estimated value. That's a strong return potential from a company with a long history of growing shareholder value.</p>
<div class="lb-trans"><p>换个角度看，布鲁克菲尔德公司可以将今天大约 5500 美元的投资在五年内增长到约 17600 美元，前提是股价交易在公司估计的价值上。这是来自一家拥有长期股东价值增长历史的公司的强劲回报潜力。</p>
</div><h2>A plan to enrich investors</h2>
<div class="lb-trans"><h2>丰富投资者的计划</h2>
</div><p>Brookfield Corporation has been a terrific investment over the years. The company has routinely delivered strong total returns, driven by its simple plan to grow value for its shareholders. The company believes it's in an excellent position to continue increasing value for its investors over the next five years, which makes it a great stock to buy right now if you want to grow your wealth.</p>
<div class="lb-trans"><p>多年来，布鲁克菲尔德公司一直是一个出色的投资。该公司通过其简单的计划不断为股东创造强劲的总回报。该公司相信，它在未来五年内继续为投资者增加价值的能力处于极佳的位置，这使得它成为现在购买的绝佳股票，如果你想增加财富。</p>
</div>

想赚大钱吗？来认识一下这只计划在未来五年及更长时间内让投资者受益的顶级股票