Is Home Capital a buy? + MORE May 15th

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The Canadian Real Estate Association says national home sales fell 1.7 per cent in April from record levels in March

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A Green rise, Wynn’s Law, a new bank: Maclean’s on the Hill
Each week, the Maclean’s Ottawa bureau sits down with Cormac Mac Sweeney to discuss the headlines of the week. This week, the B.C. election could create some problems for the Trudeau government. While the outcome of the vote may not be clear for a couple of weeks, the province’s Green Party may hold the balance of power. Federal Green Party leader Elizabeth May joins the show to talk about the Green boost—and how it could derail pipeline plans for the Trudeau Liberals.
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The government’s new infrastructure bank has created some controversy as reports show the government involved a private investment firm in the planning and promotion of its new bank—a firm that will, in fact, directly benefit from the bank…

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Is Home Capital a buy?

– moneysense.ca

Is Home Capital a buy?The entry to the Home Capital Group’s headquarters is seen at an office tower in the financial district of Toronto, Ontario, Canada May 1, 2017. Picture taken using a wide angle lens. (Chris Helgren/Reuters)
To say that Home Capital’s stock (HCG) has disappointed shareholders in recent weeks is an understatement. After a high profile tumble and partial rebound, it closed at $9.14 per share on Friday, May 12. That’s down 74% from its 52-week high of $35.67 per share.
The firm’s travails were detailed by Maclean’s writer Joe Castaldo in a recent piece called “The war for control of the Home Capital story.” In a nut shell, the firm ran into problems with the OSC, which cascaded into a run on its banking operations and a severe liquidity crisis.
While it now seems more likely than not that the firm will survive, such a positive outcome remains far from certain and even if it does come to pass, it will probably involve a large amount of pain.
Unfortunately, Home Capital managed to squeak into last year’s Top 200 All-Star Team…

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S&P 500, Nasdaq Composite hit record-highs

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