|Burford Capital Limited
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Burford Capital Share Discussion Threads
Showing 20951 to 20974 of 20975 messages
|Further comment on results, including barriers to competition (Buffett's "moat"):
|You're welcome jw....maybe a new "guess" from Hardman more accurate!
No criticism of them of course, hard to come up with accurate forecasts with the variables involved. Main thing for me is they keep deploying capital into new cases on the basis that they seem to have a very good record of what cases to run and invest in.|
|Thanks Jeff - I've been waiting for a new report from Hardman.|
Shares mag presentation:-
|Looks like two large buys just gone through|
|Especially in this market|
|If you simply look at previous price movements it sometimes retraces by up to 10%. I've always bought on these dips just as I have done today. That's not to say it won't go down further from the current price of course.|
|The business, profits and assets might be counter-cyclical, but the share price needn't be!|
|Bit of an unfortunate drop this morning, especially as I bought this stock because it's suposed to be counter-cyclical!|
|Stockwatch: Onwards and upwards for this AIM share - HTTPS://tinyurl.com/kbo3hdn|
|Great update over on Int Active Inv. by Edmund Jackson who originally brought this gem to my attention.|
|bestace & jonwig - many thanks. I have joined you here!|
|I think it's simply brokers playing catchup. The 2016 results came in so far ahead of expectations not just for 2016 but also considerably ahead of the previous expectations for 2017. Even though brokers have nudged up their 2017 forecasts by a small amount since the results, that still leaves them below 2016 actuals.
Given developments over the last few months this seems absolutely barmy, but it leaves plenty of scope for upgrades through the year, which is exactly what happened last year.
There's also the fact that the company does not provide guidance to the brokers, so the brokers are perhaps understandably being conservative.|
|Can someone please explain why EPS is forecast to dip a few percentage points in the coming year?|
|Litigation Finance Jouranal comments on the results.
Overall demand for Burford’s services has risen dramatically, and the complexity of investments has risen as well with portfolio funding comprising more than 88% of new litigation investments and new ways of structuring deals seeming to appear every month. The U.S. market is particularly robust with private attorneys reporting double digit growth in industry usage for the last four years running. This led to more than a quarter of private attorneys in the U.S. using litigation financing in 2016 which is a new record high.
Overall, 2017 seems on track to be an excellent year for Burford. The expansion in the marketplace combined with Burford’s expansion and growing level of expertise may lead to yet another record year for the growing powerhouse which is redefining the litigation finance industry.
[May need to register - free.]|
|Also added this morning.
Price has closed above lt trendline this evening. Chart pattern leading to TP of 895 confirmed at the close.
edit, chart added 18/03/2017|
|On 17th February (post 626) I predicted a share price of £8 by results day. Taken a couple of extra days to achieve but nice to now be here. Still more upside to follow so won't be selling my holding any time soon. All imo/dyor.|
|Had to buy a few more this morning - compelling story taking shape|
|And the price now starts with an 8.... :)|
|Yes; I suspect that they'll try and get another debt issue away whilst it's a favourable issuing environment. I doubt the fed rise yesterday will have done anything to disrupt that; it was well priced in.
I wouldn't be surprised to see a third issue by HY.
With the acquisition of GKC last year; they have a much bigger equity base (and a little bit more natural leverage from the GKC fund structure) over which to spread their debt.
If I was risk managing their capital position, as well as a pure leverage ratio, I'd also have something which tracked unrealised gains as a % of equity and a % of capital - which I'm certain they do from their investor presentations.
I keep looking for reasons to sell here and can't - it's one of the few shares I've ever identified that has (a) uncorrelated returns, and (b) an exposure to a growing market where the company is a market leader, and the growth potential hasn't been overpriced yet|
|Look out for fundraising?
Had we not acquired GKC, we would have begun
raising our own private funds. [AR p16]
They say later: Burford today is operating with about 0.3x
leverage, a remarkably low level of leverage for
a specialty finance firm. That is possible because
we re-invest many of our capital receipts and
manage our expenses closely. We do not favour
a highly leveraged platform, but there is clearly
room for us to absorb some additional leverage
should market conditions and our financing
needs suggest that we tap either the private or
public debt markets again. [AR p24]
There are two retail bonds already (~£200m) and the second experienced greater demand at a lower interest rate. I'd hazard a guess that they could raise about £200m 10-yr ORB at 5%. There's a shortage of new issues in this market and ones that do come along close early (Greensleeves).|
|Steptoe - thanks for your comments - appreciated.|
|Tipped in Shares|
|bamboo - good to see you here - better late than never!! Interesting tp you have;|