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No. of Recommendations: 4
I haven't had a chance to review OAK earnings in detail yet. However, I continue to watch the AUM number. BX and APO are putting up 15-20% AUM growth numbers. OAK is looking to be more conservative. Nevertheless, I would think that "move forward, but with caution" could mean a 5-7% AUM growth rate, rather than the essentially 0% they have been putting up. They've got the "with caution" part down. Need to do some work on the "move forward" part.

As the board here knows, OAK doesn't have a consistent yield, and so any "yield" is an estimate. But, I think that the $2.97 OAK has paid out in the last 12 months is fairly representative. If true, that would put the yield at around 7% today. OAK, the company, should be counter-cyclical. At least in the month of October, the stock price has held up in the face of the market sell-off.

If OAK is counter-cyclical and yielding 7%, they don't need to do a ton in the current environment. I'd just think a cautious 5-7% is possible, and would make the company much more attractive.

I've probably repeated this same post the last several quarters.

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