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happ

Active member
Sep 22, 2010
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The bizarre thing is that CDIC covered 99% of those deposits but the rats still ran for the exits. CDIC was way too quiet about that.
Im suspicious might have been hot money pulling hedge funds or simply full service brokers like canaccord who used Home to park client money
 

SkyRider

Banned
Mar 31, 2009
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Im suspicious might have been hot money pulling hedge funds or simply full service brokers like canaccord who used Home to park client money
Question: When one buys a Home Trust GIC through one's stockbroker, is it in street name or in the actual name of the client? If street name, does it qualify for CDIC coverage?
 

jazzbox

Well-known member
Jan 29, 2009
1,084
520
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If it is a GIC deposit issued by Home Trust it is covered by CDIC. Doesn't matter where you got it. They do have good rates too. of course don't put more than the 100K limit!
 

SkyRider

Banned
Mar 31, 2009
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Guys, you can get $200,000 CDIC coverage with Home. $100,000 with Home Trust and $100,000 with Home Bank. Double that again if you have RRSP's.
 

happ

Active member
Sep 22, 2010
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Question: When one buys a Home Trust GIC through one's stockbroker, is it in street name or in the actual name of the client? If street name, does it qualify for CDIC coverage?
Streetname good question a grey area. What if they collapsed and you have 100,000 at say 7 or 8 of the largest banks all in streetname
 

happ

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Sep 22, 2010
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Just when I thought Home hit bottom they raised their rates again. Is it the last hard to resist raise?

May 23

1 Year GIC – 2.60% (currently 2.35%)
18 Month GIC – 2.70% (currently 2.45%)
2 Year GIC – 2.80% (currently 2.55%)
3 Year GIC – 2.90% (currently 2.65%)
4 Year GIC – 3.00% (currently 2.75%)
5 Year GIC – 3.10% (currently 2.85%)
 

SkyRider

Banned
Mar 31, 2009
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Just when I thought Home hit bottom they raised their rates again. Is it the last hard to resist raise?

May 23

1 Year GIC – 2.60% (currently 2.35%)
18 Month GIC – 2.70% (currently 2.45%)
2 Year GIC – 2.80% (currently 2.55%)
3 Year GIC – 2.90% (currently 2.65%)
4 Year GIC – 3.00% (currently 2.75%)
5 Year GIC – 3.10% (currently 2.85%)
As I previously mentioned, you can double your CDIC coverage by investing $100,000 in Home Trust and $100,000 in Home Bank.

Share price seem to have stabilized for now at around $9.00 and a bit. I think Home might eventually go private and get their funding from private investors and the OSC out of their ass. I think Alpine Capital is an example of a private mortgage lender.
 

happ

Active member
Sep 22, 2010
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As I previously mentioned, you can double your CDIC coverage by investing $100,000 in Home Trust and $100,000 in Home Bank.
Ya we know buddy.

Share price seem to have stabilized for now at around $9.00 and a bit. I think Home might eventually go private and get their funding from private investors and the OSC out of their ass. I think Alpine Capital is an example of a private mortgage lender.
Their funding will not be resolved by hooking up with a rinky dink outfit.
 

jgd

Member
Aug 30, 2004
250
4
18
Ontario
I would not assume CDIC will protect an investor in a GIC in the way you think. Sure you may get a fractional improvement in interest, but if Home goes down, how long will it take to unravel the mess and you finally get your money? Is the interest you earned protected by CDIC? What rate of interest if any do you earn while they are unraveling the mess.

You may wait for years and get only your initial investment back.
 

SkyRider

Banned
Mar 31, 2009
17,572
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I would not assume CDIC will protect an investor in a GIC in the way you think. Sure you may get a fractional improvement in interest, but if Home goes down, how long will it take to unravel the mess and you finally get your money? Is the interest you earned protected by CDIC? What rate of interest if any do you earn while they are unraveling the mess.

You may wait for years and get only your initial investment back.
If history is any guide the Ontario and/or the federal government will seize Home Trust and Home Bank or arrange a shotgun marriage with one or more of the big banks like was done in the 1990's to protect the depositors. The shareholders on the other hand will get nothing in that scenario.

https://www.washingtonpost.com/arch...toronto/3a16b184-9657-426d-9bc1-86b935c02bdf/

https://www.theglobeandmail.com/rep...ng-in-action-lenny-rosenberg/article18427795/
 

happ

Active member
Sep 22, 2010
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I would not assume CDIC will protect an investor in a GIC in the way you think. Sure you may get a fractional improvement in interest, but if Home goes down, how long will it take to unravel the mess and you finally get your money? Is the interest you earned protected by CDIC? What rate of interest if any do you earn while they are unraveling the mess.

You may wait for years and get only your initial investment back.
Stretch/jgd, Im a pro, you dont know what your talkin about in this case or ur a 2bit wannabe stockhoser.

First, CDIC will protect all GIC holders at Home Trust and Home Bank 100% if you are under $100,000 in each. If you booked a GIC with Home and they fail you will receive your principal and interest back up to the date of failure soon after they fail. If your money is in a rrsp / rrif it may take a bit longer due to administration e.g. you'll need to provide them with the new institution you're transfering your registered plan to. For example, if you purchased a 3yr gic with Home and they fail after only 8 months into your gic you'll receive your principal back and interest up to the 8mths accrued in your gic. No interest will be paid on the 3yr gic past the 8mths, you'll have received your money back and will have to reinvest in a gic somewhere else.

If history is any guide the Ontario and/or the federal government will seize Home Trust and Home Bank or arrange a shotgun marriage with one or more of the big banks like was done in the 1990's to protect the depositors. The shareholders on the other hand will get nothing in that scenario.

https://www.washingtonpost.com/arch...toronto/3a16b184-9657-426d-9bc1-86b935c02bdf/

https://www.theglobeandmail.com/rep...ng-in-action-lenny-rosenberg/article18427795/
Lenny Rosenberg what the fuck??

The most likely scenario is Home Trust and Home Bank are sold to another institution their goodwill is gone. Home Capital could survive in residual form.
 

SkyRider

Banned
Mar 31, 2009
17,572
2
0
Home shares north of $10 again. Now if only the overstaffed and overfunded OSC would fcuk off and let us get back to business again.
 

benstt

Well-known member
Jan 20, 2004
1,527
399
83
Home shares north of $10 again. Now if only the overstaffed and overfunded OSC would fcuk off and let us get back to business again.
From the news:

Mortgage lender Home Capital Group Inc. is fielding preliminary takeover offers and is in negotiations to settle regulatory allegations as Canada’s largest alternative mortgage lender bounces back from a financial crisis.

Home Capital recently received proposals from groups led by Toronto-based private equity firms Onex Corp. and Brookfield Business Partners LP, a unit of Brookfield Asset Management Inc., according to sources familiar with the situation. Spokespeople for Brookfield, Onex and Home Capital declined to comment.
 

SkyRider

Banned
Mar 31, 2009
17,572
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From the news:

Mortgage lender Home Capital Group Inc. is fielding preliminary takeover offers and is in negotiations to settle regulatory allegations as Canada’s largest alternative mortgage lender bounces back from a financial crisis.

Home Capital recently received proposals from groups led by Toronto-based private equity firms Onex Corp. and Brookfield Business Partners LP, a unit of Brookfield Asset Management Inc.,
Brookfield and Onex are great at picking undervalued assets. I thought Fairfax might be in the mix.
 

onceaday

New member
Sep 28, 2015
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As I explained to SKY via PM weeks ago bet on HCG @ 5.79 with a boatload of commons and calls. Whatever train you are trying to catch with your posts has left the station. BTW love your line above "Does anyone subscribe to the Globe or know how to unlock these two articles. Could you link or post them?" Sounds like a pro right there. G/L

These three black boxes wont solve Home's reputation even if they change the name.
 

happ

Active member
Sep 22, 2010
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36
As I explained to SKY via PM weeks ago bet on HCG @ 5.79 with a boatload of commons and calls. Whatever train you are trying to catch with your posts has left the station. BTW love your line above "Does anyone subscribe to the Globe or know how to unlock these two articles. Could you link or post them?" Sounds like a pro right there. G/L
Did you sell your hockey cards to make that bet.

You know nothing about market psychology. You showed your stupidity.

FAIRFAX, ONEX and BROOKFIELD WILL ALL COLLAPSE!!!
 
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