RE:RE:RE:RE:RE:RE:Sale of home capitalHow on earth do people support this company after what they did to the loyal shareholders who held in the $50-$30 range. This company will be taken down slowly and made an example of. They will not flourish as there are too many unknowns and with the economy winding down and home prices overvalued, no institution will support this company.
If CIBC were so confident they should have extended a line of credit with favourable terms to Home Capital instead of "investing" with a share purchase. There is no confidence here except for the common retail trader who looks only at PE and BV
MDawg65 wrote:
the fraudulent brokers were exposed in 2014/2015. That is the whole point. The issue of defaulting is non existent because they have been flushed from the system and they got rid of the ties to the brokers in question. Their default rate is on par with the big banks. So the mortgage book is sound. You aren't reading the press releases or the financial statements. We do know their is a asset/liability mismatch- which is why they secured the HOOP loan, suspended the dividend and are engaging in a sale of their mortgages and are tightening their qualifications to get new mortgages. the only issue in question is to the timing of the disclosure of what it was deemed material- it will be for the hearing to decide.