Brookfield Billionaire Flatt Reveals Secret Behind 3,700% Return

Bruce Flatt, who heads one of the world’s largest alternative-investment companies, encourages his employees to make small mistakes every day.

“It means that we’re testing the limits of where we should be going,” the chief executive officer of Brookfield Asset Management Inc. said in an episode of “Bloomberg Wealth with David Rubenstein.” “Just don’t make any really large mistakes.”

Flatt, 56, has led Toronto-based Brookfield since 2002, increasing its assets under management to about $700 billion. He says the company’s stock price reflects the mantra of taking chances but avoiding big errors: The firm’s shares, including dividends, have ...