08:23:43 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Home Capital Group Inc
Symbol HCG
Shares Issued 80,246,349
Close 2017-12-29 C$ 17.31
Market Cap C$ 1,389,064,301
Recent Sedar Documents

Globe says Buffet the big winner with Home Cap in 2017

2018-01-02 09:22 ET - In the News

The Globe and Mail reports in its Saturday, Dec. 30, edition that last April, Home Capital Group's management found itself thrust into the role of Jimmy Stewart, trying to suppress an uprising of depositors demanding their money back. The Globe's Tim Shufelt writes that Mr. Stewart tried to tell them the money was in Joe's house, and in the Kennedy house, and Mrs. Macklin's house and a hundred others, but they would not listen. Like Mr. Stewart, Home Capital badly needed a lifeline. In Mr. Stewart's case, it came in the form of Clarence, a guardian angel dressed in a potato sack with sleeves. Facially, Clarence bore an uncanny resemblance to the man who would become Home Capital's saviour 70 years later. In June, Warren Buffett, aka the Oracle of Omaha, put his confidence and a spare $150-million or so in the beleaguered Canadian mortgage lender. While the longer-term Home Capital shareholder has fared terribly, Mr. Buffett has nearly doubled his money. It is said that every time a bell rings, Mr. Buffett makes a bundle.

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