The vulture funder will probably take over the company for free. The mystery funder could be a hedge fund (or maybe the mafia?). $2B to some of these hedge funds is pocket money.http://www.bnn.ca/home-capital-shares-plummet-osfi-monitoring-situation-closely-1.735043
Really interesting interview with an independent analyst who basically thinks it's all over. I can see the logic their funding costs have gone from 2% to 15%+. Just not a viable business going forward.
Not the mafia, not bikers, not the payday loan folks, not a hedge fund, etc. but a government pension fund.Now we know who the "vulture" is .... your friendly neighbourhood pension plan.
And in actuality if the deposit run off continues apace as Home Capital's GICs mature then the lifeline will only last a couple of months max. The chances of the Company surviving as an independent going concern are pretty remote IMHO.The report of HOOPP’s involvement raises some questions about how potential conflicts of interest would be managed. The pension plan’s chief executive officer Jim Keohane became a director of Home Capital about one year ago and sits on Home Capital’s risk and capital committee.
At the same time, Home Capital’s board chair Kevin Smith, who also works as CEO of St. Joseph’s Health System and Niagara Health System, sits on HOOPP’s board.
Sweeeeet! Making that execution short position near or mid top of dip took balls of steel my friend....and cover near to reverse near the bottom, another story. Overall, good month for volatility and day trading. Cheers and happy Trading!@malata re: HC that was by far my best trade of the year. 30% gain in six hours today. @babyfinsta you got pretty lucky missing that bear position!
Here is a quote from my April 27th post.Interesting opinion in today's NP. Home Capital didn't fall it was pushed by the OSC.
It's kind of contradictory to say that the shareholders and investors were all fine with how the 2015 disclosures took place, but when the OSC raises concerns, a bunch of execs resign and the investors flee. And that is somehow the OSC's fault.www.financialpost.com/m/wp/fp-comme...t-fall-from-the-edge-of-a-cliff-it-was-pushed
Interesting opinion in today's NP. Home Capital didn't fall it was pushed by the OSC.