Burford Capital Share Discussion Threads

[minerve 2] 07/5/2019 09:38

Down to 1400 folks?

LOL

Minerve will say 'when'.

[3dwd] 07/5/2019 09:28

Goldmans conference in NYC tomorrow... Burford are attending..

[greatballsoffire451] 06/5/2019 09:49

No one listens to you filth. Go and play with the electric sockets loser

[edmondj] 06/5/2019 08:05

Looks as if Trump has just delivered a big sting to markets, far greater than gadflies on questions of accounting.

“I think this has got the potential to be a real game-changer,” said Nick Twidale, Sydney-based analyst at Rakuten Securities Australia.

“There is still a question of whether this is one of the famous Trump negotiation tactic, or are we really going to see some drastic increase in tariffs. If it’s the latter we’ll see massive downside pressure across all markets,” he said.

[galatea99] 06/5/2019 07:13

Post by "Luthrin" on Stocko:

"From the Canaccord note:

The actual ROIC on concluded investments is 51%, which cannot be disputed. Therefore, we believe BUR should focus on reporting this return figure rather than any other. We have updated our model to reflect a 51% ROIC on the litigation portfolio, versus our previous forecast of 60% (which was based on the cumulative ROIC as given by BUR in the CY16 results). This largely drives the 18% downgrade to EPS in both FY19 and FY20.
The 51% ROIC figure is derived from Burford's published portfolio data, showing total recoveries of $583.4m on a capital deployment of $387.0m for concluded investments.

However, one major Burford investment that is missing from the concluded list is the Teinver case. Even though BUR sold its entire entitlement in Teinver for $107m cash in March last year, this is still regarded by the company as a partially realised investment. This is because the matter is subject to annulment proceedings, and should the award be annulled, the sale could be rescinded at the option of the buyers. In this event, Burford would retain a $7m fee and would also have its original entitlement back, leaving it free to pursue the claim again. According to Burford: "Annulment (the cancellation of an award) is only available in very limited circumstances of serious error by the arbitration tribunal that we do not believe exist here, with only 6% of awards ever rendered by the World Bank’s arbitration institution having been annulled (and only 3% in the current decade)."

Burford's press release last March stated that based on historical proceedings, a decision on annulment would be expected in the second half of 2019, with the caveat that individual case timing is unpredictable. However, should we get the expected resolution in the next few months, the Teinver matter will shift from the partially realised investment category to the concluded one. This will give $107m of recovery for just $13m of deployed funds, and had that case already been in the completed category, the historical ROIC would be 73%, not 51%.

So, if Teinver finally settles without annulment later this year, we may well see a marked jump in historical ROIC for concluded cases when BUR publishes its updated litigation portfolio data in March 2020 (although this will also be dependent on the performance of other concluded investments). Under such circumstances, will we see a significant profit upgrade for BUR from Canaccord once they have punched this revised number into their 'model' (cough)? I very much doubt it, because I don't for a moment think that the person who penned the CG note was making an objective assessment of the company's prospects."

[galatea99] 06/5/2019 06:56

Molly, #5885:

Molly, it's okay, as long as everyone uses the filter button on the disruptors and the psychos, the board is safe.

Deprive them of the attention oxygen they need and crave, that`s the only way.

I have eight or nine screened out already!

Jane.

[jonwig] 06/5/2019 05:55

brexitplus - from one point of view, what they say there is very unsettling, as the US appears to be a society where litigation is a major preoccupation and a large part of economic activity.

Tell me another country where blockbuster films are made centred around courtroom scenes, or whole TV series are law-firm soap operas (maybe the odd one in the UK)? Not to speak of having a head of state whose career has been largely based on threatening to sue others.

Ah well, at least we have a way to profit from it.

[brexitplus] 05/5/2019 21:48

Cleveland-based McDonald Hopkins sees so much potential in the business of third-party financing of lawsuits that it's building its latest practice around it.

As that sector sees explosive growth, expect other law firms to jump on the trend.

Many firms may offer to help clients connect with finance litigation shops to fund them or their cases if asked about it, so that's not entirely novel. But McDonald appears to be one of the first in this market to advertise that work as a practice. Services could range from helping set the deal terms between an investor and client to due diligence for the investors vetting cases to bankroll.

Getting into that space now is how the firm aims to capitalize on a business featuring an area of investing that has potential for outsized returns compared to financial markets, an area that 77% of respondents surveyed for the 2019 Litigation Finance Survey Report from Lake Whillans (one of the several dozen litigation finance shops in the U.S.) and Above the Law said will only continue to grow either gradually or significantly in the coming years.

"There's more litigation in the U.S. than anywhere. And there's more money in the U.S. than anywhere, and more free capital to invest. So you're basically getting a demand and supply increase at the same time," said Marc Carmel, co-chair of McDonald's litigation group, who joined the firm last fall from Longford Capital Management, a litigation finance shop based in Chicago. "In general, the momentum is in favor of more money entering the space and more lawyers becoming more comfortable with it."

[williamcooper104] 05/5/2019 21:34

Ra100 - yep - was good - seriously boring

[minerve 2] 05/5/2019 21:16

"written to by very clued up people who know what they are talking about"

Really?

I would love to see their investment performance over a two decade period.

[rar100] 05/5/2019 20:26

Such a shame, 3 and 4 days ago this was an extremely interesting board written to by very clued up people who know what they are talking about, and the vandals move in like a pack and wreck it. At least the idiots are filtered.

[elcapital2018] 05/5/2019 19:08

Anyone else got a jealous troll?

I have one. formerly known as rackers. now posts as greatballsofshot and rees4. Never posts bout shares as he lost everything on TERN and blames everyone else because he is a natural born LOSER lol

[cottlet] 05/5/2019 18:29

I have only found one to filter...........its a start..

[rar100] 04/5/2019 22:26

I'm hoping my filter won't get blocked up...that's two today

[brexitplus] 04/5/2019 21:41

Such a shame I’m having to filter so many foul mouthed people on this board.

I know, and the same to you but without the profanities.

[greatballsoffire451] 04/5/2019 20:57

U can’t show us one post I’ve done on tern

Ain’t that true pig filth