RE:What did Gerry Soloway and John Marsh know when......What did they know???
Sales were from exercising stock options and tax is due in Canada on exercise, whether you sell or not.
So they knew they had to pay a lot of tax on the exercise of the options.
So, like 98% of people who exercise options, they sold their shares in the market.
Home will earn a buck a share this quarter, directors will increase the dividend at Board meeting on Nov 1, and once again they will show almost zero delinquent loans due to fact that real estate is up over 40% in last three years. NO ONE walks away from over 40% equity and defaults. thus, Home loan provisions will be where they should be- near zero
Over time,Home will go back to the 50 dollar a share level unless its bought out by a major bank at say 40 bucks this fall. . A buy out is a real possibility, due to stock trading at book, their average mortgage with over 50% equity behind it,an 18% rate of return by Home, and a desire by each of the big banks to increase their book of loans