Why this investor plans to vote ‘no’ to Home Capital’s plan to issue more shares to Berkshire Hathaway

Rick Durst is a veteran investor and a strong believer in shareholders’ rights, and who has, at times, turned activist. He has also been a shareholder of Home Capital Group Inc. for more than two decades.

For most of that time his investment paid off handsomely as Home Capital, the alternative mortgage lender, generated stellar returns. The ride up – the shares hit an all time high of $55.75 about three years back – was more enjoyable than the slide. In May the shares hit $5.85 – or...

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