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Element Financial on fire since IPO

What a quarter it’s been for Element Financial, the new baby of financing magnate Steven Hudson.

In just over three months the company has seen its stock soar 40 per cent and all of a sudden many more people are watching it because Element was just added to the S&P/TSX Composite Index.

Not bad for a company that went public in late 2011 when it was just an infant. Early investors simply had to trust Mr. Hudson, who’d made a name for himself by building leasing company Newcourt Credit Group Inc. in the 1990s. Element was his way back into the market.