Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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Bruce Flatt

T2InvestorsIndustriesAsset management and private equity

Joined Brookfield in 1990 and became CEO in 2002; called 'Canada's Warren Buffett' for his value style and long tenure. Forbes ranked him 612th with $6.8 billion in 2026.

Brookfield Corporation

Two decades of quarterly letters make him the most consistently read public voice on real assets and long-duration capital, though he has written no book.

60 letters

Letters 60Profiles 2
Brookfield Letter to Shareholders Q2 2026Brookfield reports $98 billion raised in the first half of 2026, approval of a simpler capital structure and the purchase of the rest of Oaktree.2 2026Oaktree Capital
Brookfield Letter to Shareholders Q1 2026Brookfield reports $67 billion raised in the quarter, the purchase of UK pension risk transfer firm Just Group, and plans to combine the Corporation with Wealth Solutions.1 2026Just Group
Brookfield Letter to Shareholders Q4 2025Brookfield reports a record 2025: $112 billion raised, $91 billion of assets sold and $126 billion of new investments, with its shares returning 21%.4 2025Alphabet, Meta Platforms, Amazon
Brookfield Letter to Shareholders Q3 2025Brookfield agrees to buy the rest of Oaktree and partners with the U.S. government on $80 billion of new nuclear plants in Q3 2025.3 2025Oaktree Capital
Brookfield Letter to Shareholders Q2 2025Brookfield reports strong Q2 2025 results, more transactions and growth in Wealth Solutions, including an agreement to buy UK insurer Just Group.2 2025
Brookfield Letter to Shareholders March 2025 UpdateBrookfield's March 2025 update restates its focus on protecting shareholders' and clients' wealth through cycles, with integrity and discipline, amid global volatility.1 2025
Brookfield Letter to Shareholders Q1 2025Brookfield reports $25 billion of asset management inflows in Q1 2025 and an agreement to buy a majority stake in an alternative private credit manager.1 2025
Brookfield Letter to Shareholders Q4 2024Brookfield reports record 2024 results, $135 billion of inflows, a credit partnership with Castlelake and a top-tier U.S. annuity business.4 2024Clarios
Brookfield Letter to Shareholders Q3 2024Brookfield expects a better 2025 as falling short-term rates and steady growth improve capital markets and transaction activity.3 2024
Brookfield Letter to Shareholders Q2 2024Brookfield reports strong Q2 2024 cash earnings growth and $800 million of share buybacks so far in the year.2 2024
Brookfield Letter to Shareholders Q1 2024Brookfield closes the purchase of American Equity Life, nearly doubling its insurance operations, and announces a renewables deal with Microsoft.1 2024Microsoft, Castlelake
Brookfield Letter to Shareholders Q4 2023Brookfield expects to have raised $143 billion for asset management in 2023 and turned its insurance arm into a major wealth provider.4 2023Oaktree Capital
Brookfield Letter to Shareholders Q3 2023Brookfield reports strong Q3 2023 results, backed by $140 billion of perpetual capital and growing allocations to alternatives.3 2023
Brookfield Letter to Shareholders Q2 2023Brookfield announced over $50 billion of acquisitions and sold about $15 billion of assets in the first half of 2023, reaching $850 billion under management.2 2023
Brookfield Letter to Shareholders Q1 2023Brookfield reports strong Q1 2023 results in renewables, transition and infrastructure, and resilient real estate despite rising rates.1 2023
Brookfield Letter to Shareholders 2023 Summary and Update (annual letter)Brookfield summarises 2023, when it deployed $55 billion into large investments across sectors during a market slowdown.2023
Brookfield Letter to Shareholders Q4 2022Brookfield completes the listing of its asset manager and reports a strong 2022 despite difficult markets.4 2022
Brookfield Letter to Shareholders Q3 2022Brookfield argues private assets let owners wait out volatility, while equities and bonds disappointed investors in 2022.3 2022
Brookfield Letter to Shareholders Q2 2022Brookfield reports $56 billion of inflows, $20 billion of new investments and a record $111 billion available to invest in Q2 2022.2 2022
Brookfield Letter to Shareholders Q1 2022Brookfield reports strong Q1 2022 cash flow and acquisitions, and argues long-term investors should stay the course through macro challenges.1 2022
Brookfield Letter to Shareholders Q4 2021Brookfield earned a record $12.4 billion of net income in 2021, against $707 million in 2020, with $6.3 billion of distributable earnings.4 2021
Brookfield Letter to Shareholders Q3 2021Brookfield reports $1.2 billion of distributable earnings and $34 billion of inflows in Q3 2021 as Covid abated.3 2021Oaktree Capital
Brookfield Letter to Shareholders Q2 2021Brookfield reports Q2 2021 distributable earnings of $1.2 billion, net income of $2.4 billion and large proceeds from asset sales.2 2021
Brookfield Letter to Shareholders Q1 2021Brookfield reports record Q1 2021 FFO of $2.8 billion and $13 billion of asset sales that generated $6.4 billion of gains.1 2021
Brookfield Letter to Shareholders Q4 2020Brookfield ended 2020 with its best quarter on record and asset management FFO up close to 20%.4 2020
Brookfield Letter to Shareholders Q3 2020Brookfield reports a strong Q3 2020 rebound, with asset management FFO up 22%, and hopes for normalcy in 2021.3 2020
Brookfield Letter to Shareholders Q2 2020Brookfield raised a record $23 billion in Q2 2020 while the global shutdown hurt many of its businesses.2 2020Oaktree Capital
Brookfield Letter to Shareholders Q1 2020Brookfield's fee income grew in Q1 2020 and index hedges offset much of the mark-to-market losses on its financial assets.1 2020Oaktree Capital
Brookfield Letter to Shareholders Q4 2019Brookfield's shares returned 50% in 2019 on strong operating results and fundraising for alternatives.4 2019Oaktree Capital
Brookfield Letter to Shareholders Q3 2019Brookfield closed its Oaktree transaction in Q3 2019 and sees a favourable backdrop for investing in alternative assets.3 2019Oaktree Capital
Brookfield Letter to Shareholders Q2 2019Brookfield announced a $14.5 billion first close of its flagship infrastructure fund in Q2 2019.2 2019Vistra, Oaktree Capital
Brookfield Letter to Shareholders Q1 2019Brookfield committed $4 billion for an Australian hospital operator and completed the $13 billion purchase of Clarios, Johnson Controls' battery business, in Q1 2019.1 2019Oaktree Capital, Clarios
Brookfield Letter to Shareholders Q4 2018Brookfield reports record 2018 net income of $7.5 billion, or $3.40 a share, and FFO of $4.35 a share despite late-year volatility.4 2018
Brookfield Letter to Shareholders Q3 2018Brookfield's Q3 2018 FFO rose to $1.1 billion from $800 million, and it raised $12 billion of capital in the quarter.3 2018
Brookfield Letter to Shareholders Q2 2018Brookfield reports strong Q2 2018 FFO and net income and expects asset sales to build gains and carried interest.2 2018
Brookfield Letter to Shareholders Q1 2018Brookfield's Q1 2018 results were excellent, with gains on asset sales and its highest-ever cash and dry powder.1 2018
Brookfield Letter to Shareholders Q4 2017Brookfield's 2017 revenue topped $40 billion, net income rose to $4.6 billion and FFO per share rose 18% to $3.74.4 2017
Brookfield Letter to Shareholders Q3 2017Brookfield's assets under management and fees grew rapidly in Q3 2017, and its size and global reach let it invest despite competition.3 2017
Brookfield Letter to Shareholders Q2 2017Brookfield used a strong market for mature property and infrastructure assets in Q2 2017 to sell assets and recycle capital.2 2017
Brookfield Letter to Shareholders Q1 2017Brookfield closed two large Brazilian deals in Q1 2017: a $5 billion natural gas pipeline and a $1 billion water distribution business.1 2017
Brookfield Letter to Shareholders Q4 2016Brookfield reports 2016 FFO of $3.2 billion, or $3.18 a share, with strong growth in asset management.4 2016Vistra
Brookfield Letter to Shareholders Q3 2016Brookfield's fee-related earnings grew 37% in Q3 2016, with FFO of $883 million and net income of $2 billion.3 2016
Brookfield Letter to Shareholders Q2 2016Brookfield's fee-related earnings grew 50% in Q2 2016 on acquisitions and growth, and fundraising stayed strong.2 2016
Brookfield Letter to Shareholders Q1 2016Brookfield reports Q1 2016 net income of $636 million and FFO of $703 million, with operating results ahead of last year.1 2016
Brookfield Letter to Shareholders Q4 2015Brookfield reports 2015 net income of $4.7 billion and FFO of $2.6 billion on growth in asset management.4 2015
Brookfield Letter to Shareholders Q3 2015Brookfield reports Q3 2015 net income of $845 million and FFO of $501 million, with strong results across its businesses.3 2015
Brookfield Letter to Shareholders Q2 2015Brookfield reports Q2 2015 net income of $1.2 billion and FFO of $520 million on earnings and cash flow growth.2 2015
Brookfield Letter to Shareholders Q1 2015Brookfield reports Q1 2015 net income of $1.4 billion; strong U.S. results were partly offset by foreign operations as the dollar rose.1 2015
Brookfield Letter to Shareholders Q4 2014Brookfield reports 2014 net income of $5.2 billion, or $4.67 a share, and FFO of $2.2 billion on growing fees.4 2014Amazon
Brookfield Letter to Shareholders Q3 2014Brookfield reports Q3 2014 net income of $1.1 billion and FFO of $564 million from strong operations and value gains.3 2014
Brookfield Letter to Shareholders Q2 2014Brookfield reports Q2 2014 net income of $1.6 billion and FFO of $569 million.2 2014
Brookfield Letter to Shareholders Q1 2014Brookfield started 2014 with growing fee revenues and good results in renewable energy.1 2014
Brookfield Letter to Shareholders Q4 2013Brookfield reports record 2013 FFO of $3.4 billion, or $5.14 a share, and net income of $3.8 billion.4 2013
Brookfield Letter to Shareholders Q3 2013Brookfield reports excellent Q3 2013 results: FFO of $1.2 billion and net income of $1.5 billion.3 2013
Brookfield Letter to Shareholders Q2 2013Brookfield's asset management fees rose 72% in Q2 2013 and should keep rising after recent fund closings.2 2013
Brookfield Letter to Shareholders Q1 2013Brookfield's Q1 2013 FFO rose to $689 million from $515 million, led by asset management fees.1 2013
Brookfield Letter to Shareholders Q4 2012Brookfield says investments from the Babcock & Brown and General Growth Properties recapitalisations began paying off in 2012.4 2012General Growth Properties
Brookfield Letter to Shareholders Q3 2012Brookfield reports on its 2012 New York investor day.3 2012
Brookfield Letter to Shareholders Q2 2012Brookfield's operations performed well in Q2 2012 despite bad economic news from Europe and volatile markets.2 2012
Brookfield Letter to Shareholders Q1 2012Brookfield believes the global recovery is on track in early 2012 despite worries about Europe.1 2012
The letter archive → See all 60 in the Letters table →

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brookfieldbrookfield-asset-managementbrookfield-corporationreal-estateinfrastructureprivate-equityrenewable-energycreditreal-assetslong-duration-capitalvalue-investingcapital-recyclingalternative-asset-management