Money manager sees chance to buy in Home Capital

At least one investor sees a buying opportunity in Home Capital Group Inc.’s latest woes. Philadelphia Financial Management of San Francisco, which oversees about $700 million, spent $10 million in the past week buying more than 1 million shares of the Canadian alternative lender, according to managing partner Jordan Hymowitz. He’s betting that Home Capital will be acquired. “The entire problem here is not an asset-quality issue, it’s purely a liability problem,” Hymowitz said Monday in a teleph...

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