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As Home Capital Group Inc. was having its worst week ever, at least one person in the investment world was smiling.

Marc Cohodes, a short seller who has been described as a “scourge of Wall Street” has for more than three years bet on the implosion of the Toronto-based alternative mortgage lender.

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He’s been one of the company’s most vocal critics, fanning the flames of concern that have lingered since Home Capital acknowledged discovering problems it its broker channels in 2015.

Here’s a look at the company, its role in the Canadian mortgage landscape and how the discovery of fraud among its brokers two years ago continues to have ripple effects today.





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And this week’s turmoil was his turn for a victory lap.

“HCG is finished.. Thanks for playing” he tweeted from his account @alderlaneeggs on Wednesday, the day Home Capital’s shares fell the most on record, a whopping 64.9 per cent.