Who is Philip Olsson?
He is a principal at K J Harrison & Partners Inc.
He was also a major player for the Liberal Party:
I would now like to take a moment to fully disclose my political activities. I have been a member of the provincial and federal Liberal Parties for many years and have contributed to and raised money for both organizations and for riding associations, as I have for many other non-profit organizations. This is consistent with the values instilled by my family. These included the positive obligation to actively involve oneself in community and civic service, including active involvement in the political process through the party of one's choice.
Ontario Premier Dalton McGuinty put Olsson in charge of fundraising for the provincial Liberals in 1997. Olsson has donated generously, though not extravagantly, to the federal Liberal Party (almost $8,500 by 2000), though clearly his active participation is far more valuable than any cheques he wrote.
What does K J Harrison do? It is a private investment firm. What do they invest in? It's not clear on the website, but interestingly, Ravensource Fund shares the same address as K J Harrison, 60 Bedford Road in Toronto.
The man who runs Ravensource is Patrick W E Hodgson. In fact, on the information sheet for Ravensource, Hodgson provides an email address at K J Harrison.
Does he work at K J Harrison? Yes, he's a principal along with Liberal insider Olsson.
So Liberal insider Olsson is a principal at private investment firm K J Harrison. His colleague Hodgson runs Ravensource Fund out of the same office. Units in Ravensource are available as an income trust.
From November 7 through November 18, there were no sales of Ravensource units. None at all.
Then on November 18, 500 units were traded. On November 22, an additional 1000 units. On November 23, a further 1000 units.
Remarkably, all this trading activity, the only activity in weeks on Ravensource, was performed by one trader only. It represents the purchase of 2,500 units by Patrick William Egerton Hodgson, the CEO of the fund.
On the evening of November 23, Liberal Finance Minister Ralph Goodale announced the good news that income trusts, like Ravensource, would not be taxed.
On November 24, after the announcement, Hodgson bought additional shares, a mere 300.
All very strange, but then maybe it means nothing. Why would I say that? Well, the good news from the Minister of Finance moved the price of a Ravensource unit from $7.48 to $7.49. Today a unit is trading at $7.50. At $0.02 a unit, the purchase of 2,500 units garnered a profit of $50.
