Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Gordon Pape, editor of Internet Wealth Builder, chose Brookfield Asset Management (NYSE: BAM) as his top pick for 2007. The stock rose 31%, as of June 1, 2007. Here is Gordon's original recommendation on BAM and his current favorite stock for the rest of 2007.

Updating the stock, Pape now says, "Brookfield is the oldest recommendation still on our active list -- we've been recommending it since 1997 -- and it continues to churn out handsome gains for members. Maybe the company will stumble some day, but I wouldn't bet on it.

"The company holds $50 billion in assets and invests in the property, power, and infrastructure sectors. Its strong stock performance is the result of a combination of continued profit growth and a corporate commitment to enhance shareholder valuation in every possible way.

"For example, the company recently announced that it is spinning off its timber assets and much of its electrical generating business into an infrastructure partnership -- Brookfield Infrastructure Partnership LP -- which will be listed on the NYSE under the symbol BIP.

"It's expected the partnership will be very attractive to investors, and Brookfield could have chosen to bring it out through an IPO. Instead, a majority interest will be distributed to Brookfield shareholders in the form of a dividend and the parent company will retain a 40% interest.

"In addition, the board of directors has approved another share split, the fourth since I recommended the stock. This will be a three for two split, paid as a dividend, which will be effective on June 1 for shareholders of record as of May 24. We continue to rate BAM a buy."

Top 20 advisors: Gordon Pape likes Brookfield's 'assets' originally appeared on BloggingStocks on Tue, 26 Jun 2007 10:09:00 EST. Please see our terms for use of feeds.