On April 21st, 2017 Canadian lender Home Capital reported strong earnings and robust equity. Less than a week later the lender nearly failed.
This is a story about short selling, Canadian housing and Warren Buffett’s least-known bank rescue.
A fantastic bit of research and writing. Very well done. Unfortunately, this story reinforces a very disturbing trend whereby the voting machine becomes dominant over the weighing machine for longer and longer periods of time.
Immediately addicted!
Subscribing
I am here because of the diff newsletter, but am staying because of the thoughtful writing. As a fellow Canadian thank you for the great article.
A fantastic bit of research and writing. Very well done. Unfortunately, this story reinforces a very disturbing trend whereby the voting machine becomes dominant over the weighing machine for longer and longer periods of time.