Burford Capital Share Discussion Threads

[kirkie001] 16/2/2021 19:44

I fail to see why it's not being released at 7am. As far as I'm aware, most dual listed companies do that (bar HSBC, which I think do 8am or 9am...).

Being released at 7am, when both markets are closed, would surely be better than holding onto it for 5 hours, when it's available, and then releasing it, when one market is closed and another is open?

I'm not certain how this meets the test of "releasing market sensitive information without undue delay"? It IS being delayed; until noon.

[tradertrev] 16/2/2021 19:28

Per the RNS advising of trading update "The decision to adjust the time of day for disclosure of business updates and financial results has been taken following the commencement of trading of Burford shares on the New York Stock Exchange. This will provide Burford's investors in both North America and Europe with access to disclosure at reasonable hours. In the future, it is expected that such scheduled disclosure will continue to be released at midday in London, subject as usual to the relevant regulatory requirements of each jurisdiction in which Burford's equity and debt securities are listed."
It is not the case that US investors get some great advantage by being able to "digest the news before the market opens". The market in London will be open and US investors can deal here. In any event, the price at which the stock opens on NYSE will reflect some 2.5 hours trading in London post the announcement. I see no unfairness here except perhaps some trigger-happy day traders might react incorrectly on some headline, when a pause for reflection might have been a better course. They can look after themselves I'm sure!

[lazg] 16/2/2021 18:59

@pod: Got you.

[podgyted] 16/2/2021 18:46

LG - that's not my point - don't care to a large extent where it trades.

My concern is it is releasing very price sensitive information into a live market and its main market for that matter. Expect chaos - 'cos what is for certain is BUR's TU is extremely unlikely to be "in-line".

[lazg] 16/2/2021 18:05

I think it is not surprising that they would not prioritise the UK. I welcome that. And anyone here can trade in the US as well, so no harm done. Being from continental Europe, I like trading in the US as it allows me to do so after work.

[time_traveller] 16/2/2021 17:46

Well, the UK does feel like second fiddle these days.. while they skip out on the usual NYSE duties like quarterly reporting - having their cake and eating it?

[gettingrichslow] 16/2/2021 16:40

Now up 14% in the US!

[scepticalinvestor] 16/2/2021 16:39

not unlike your mum?

[warno01] 16/2/2021 16:34

We might be looking at a gangbusters statement based on today's rise. Can't be anticipation, surely more substantial. Biggest holding so fingers crossed. Great statement should see pushing through 750 and hopefully through 780 (key resistance levels). Last half hour is very unlike Burford share movement.

You have to think that after 6-9 months of little news other than SEC filing, then it needs to be strong. Would anticipate seeing a rise in deployments, but also some strong returns (considering the Volkswagen/Audi case for example)

[williamcooper104] 16/2/2021 16:26

Could do - looking forward

[bramcych] 16/2/2021 16:26

They haven't left it late as preliminary results will be issued at 12:00 GMT tomorrow due to US listing!

[podgyted] 16/2/2021 16:26

Midday TU tomorrow will be interesting. Currently according to the above BUR is £7.55 in the States

[hatfullofsky] 16/2/2021 16:24

Wow - talk about leaving it late !!!!

[rar100] 16/2/2021 16:17

william, they may come out with a gangbusters statement....they might do...and not be true to form.

[gettingrichslow] 16/2/2021 16:09

It’s popping right now - up 8% in New York!

[williamcooper104] 16/2/2021 15:55

It'll pop on the statement and then deflate over the course of the day - given previous recent form

[rar100] 16/2/2021 15:42

Trading update tomorrow, day traders betting on good statement and near future re-rating of SP

LTH's hoping for same, this one is anyway almost as much as 2nd jab

good luck all

[dudishes] 16/2/2021 15:38

Depends whether still cooking the books?

[jomac2412] 16/2/2021 15:32

maybe 750p close at this rate :)

[bogman1] 15/2/2021 17:06

It was. Sp dived the Carson block started spouting rubbish and it collapsed. I have held since then. Luckily had the opportunity to average down. Onward and upwards for this one.

[rar100] 15/2/2021 13:58

Yes I forgot about the Woodford effect with BUR, must have been very considerable, maybe he will buy more with his new venture...

[kaos3] 15/2/2021 08:25

scuba an interesting article to me - about interesting impact - did not know myself. thank you

[1aconic] 15/2/2021 08:13

Yup, he saw a sitting duck given Woodford's holding and simply exploited the fact hardly anybody seems to do research these days/reporting was a bit thin. It's a tricky valuation if you don't have the time/inclination to really dive into things. I was guilty of not knowing BUR anywhere near as well as I should have back then and still feel I'm learning even now.

Confidence might take a while to regain. However, I largely attribute the overhang since to the continued nervousness, Invesco having been (and possibly continuing to be) forced sellers as punters have abandoned their funds in droves and other fund managers not having the guts to go against the grain. Easier to stand back and wait for the dust to settle; even if it means less returns for their investors they won't perceive their job to be at risk - a higher priority for most of them. Those effects should all fade in time.

YPF bizarrely creates nervousness too given the weighting on the balance sheet. However, I consider that essentially a freebie at current valuations. You also have to go pretty damn negative in the probabilities assigned to create a negative EV out of that one.

Some of the biggest long term gainers had share price falls as high as 80% at points in their history (Apple, Amazon, etc). Not for a second saying that BUR can acheive those heights but it's a relatively virgin industry where connections and reputation could create quite a difficult moat.

A quick glance at the HUGE step up in commitments from 2017 onwards and a realisation that cases take 2-3 years on average to pay off should also scream out but seems to be largely overlooked currently. Think there's a hell of a lot to be positive about looking past the short term fluctuations.