Seeking Alpha on BAM

Interesting article arguing BAM is way undervalued based on the recent announced spinoff of its Asset Management business.

“BAM uses its own method to calculate the company’s value and estimates that Manager alone (consisting of FRE and carry) will be worth ~$80B. Currently, BAM in total (Manager + Invested Capital) is trading at the market value of ~$71B.” If Invested Capital is worth close to its equity of $43B we are talking about $120B in total value for BAM, almost 70% higher than it is trading today."