Burford Capital Share Discussion Threads

[maddox] 04/6/2019 11:00

This is a blip and a good opportunity to top-up so what's the problem? This liquidity will allow the shareholder base to widen - reducing the concentrated holding - problem solved without the overhead of joining the main market.

[clanger66] 04/6/2019 10:20

It makes sense, especially when your two biggest shareholders control around 23% of the market cap and as we're experiencing now, one of those shareholders is having difficulties.

[brexitplus] 04/6/2019 10:15

Clanger

This may concentrate their minds if investors are really important to them.

[clanger66] 04/6/2019 10:11

They have been advised by their broker that there's no benefit from a main board listing and only increased costs. They've done a study and believe there is enough liquidity on AIM as it is.
However my point is an AIM listing limits the funds that are able to take a position in it due to their mandate.

[time_traveller] 04/6/2019 10:09

I guess the market is assuming Woodford is going to have to wind up the funds rather than his stated aim of moving INTO more liquid investments (eg BUR). The latter should be a neutral or positive price pressure on BUR, but the former; negative, which is what we're seeing today and yesterday.

[trident5] 04/6/2019 10:03

Why has it been dismissed by the company?

[brexitplus] 04/6/2019 09:48

Lots associated with Woodford down expecting forced sales so can buy at a better price.

I’m in Burford for at least 10 years so volatility is no problem. Unlike Kier it is an excellent, very profitable business which isn’t at the mercy of govt spending and very fierce competition.

[minerve 2] 04/6/2019 09:33

Burford Special Brew

[discodave4] 04/6/2019 08:33

Would guess the drops are due to Woodford.Last count holding was 9.43%.

[ali47fish] 04/6/2019 08:22

where's everyone share price down again a chunk! is this in anyway related to woodford? and if so what to make of it?

[bestace] 03/6/2019 23:08

Argentina & YPF are still not giving up on the supreme court. Both have filed briefs today arguing why the Solicitor-General got it wrong.

[djderry] 03/6/2019 22:37

Ho-hum,just another day in the markets.As always,watch what the company does and forget the share price.I learned long ago to expect many ups and downs in the share price It's the price one pays for harvesting the gains long term .My only niggling concern is that the guys in the SWF( or some other private equity fund) see it as ridiculously cheap and team up with the C suite and take it private for a measly 26/28 quid and we lose out on the years of gains ahead.Hopefully I'm worrying in vain.

[someuwin] 03/6/2019 21:56

As has been pointed out elsewhere, peeps holding his other funds will now be bailing out ASAP. Thus those funds will surely get suspended too. A very vicious circle.

[brexitplus] 03/6/2019 18:17

Williamcooper

It’s only the Equity Fund that is suspended and not the Focus fund. Woodford also runs other portfolios that are probably blue chip companies.

But his reputation is pretty much shot to pieces.

I expect further action in the near future.

[minerve 2] 03/6/2019 18:17

@williamcooper

Of course yes. But I wait because I think the profit warning today may reverse the working capital back to negative if it ever was becoming positive again. Bev Dew's word is worth nothing. So I wait and see.

Burford is probably protected because of AIM liquidity.

Opportunity tomorrow in other Woodford stocks.

I own NewRiver, Regional REIT and IMB so will top-up on all three if further weakness.

[riverman77] 03/6/2019 18:16

There must surely be dozens of fund managers happy to take a chunk of Burford at this price. Should be easy to arrange an off market transfer. Can't say the same about some of the other junk he holds.

[williamcooper104] 03/6/2019 18:12

Think it’s curtains for Woodford

So likely that his Bur holding will be sold

This is unlikely to be quickly/fire sale - would guess over a 6-9 month period

Will weigh short term on the stock

Long term means nothing

Very relaxed about today’s fall

Minerva

Suspect you’ll have plenty of room to build your Kier position at even more advantaged prices

[jockthescot] 03/6/2019 18:10

Brexitplus - pretty dire news for Woodford, but it shouldn't affect BUR long term at all. In many ways, if the price drops due to sales, it will be an opportunity to buy in cheaper for long term holders.

[minerve 2] 03/6/2019 17:42

Kent council may agree a withdrawal plan, part of which might be scheduled or in specie.

[minerve 2] 03/6/2019 17:35

Yertiz

I bought AA and sold out for a 20% return in 6 months. Have since bought back in.
Kier, I am building a holding.

That isn't catastrophic.

I lost £400K in an investment once when I was a business angel. That is catastrophic. You obviously had no experience with OFEX. LOL

Way too many chimps on ADVFN.

No knowledge, wrong temperament, can't read accounts, don't have enough patience and allow the share price to drive their behaviour.

Tutt Tutt. Should know better.

[brexitplus] 03/6/2019 17:30

Lomax99

The article can be summarised as

1 Woodford has blocked redemptions from his equity income fund after Kent CC notified it planned to withdraw from his flagship vehicle.

2 Short term, investors are stopped from buying and selling the fund

3 The company said it was taking the step to “protect the investors in the fund” by giving Mr Woodford time to sell unlisted and illiquid stocks and buy more liquid investments that could be sold to meet redemptions.

4 The Company would write to investors when dealing was to be resumed and keep them informed “about the suspension, including its likely duration.”

The move comes after it was revealed that the fund had lost £560m in assets over the last month following a prolonged period of underperformance.

St James Place recently said it was reviewing the situation but staying with Woodford. Let’s see if that changes.

Pretty dire news.

[lomax99] 03/6/2019 17:00

Citywire on Woodford suspension:Kent Council pulled £250m on FridayHttps://citywire.co.uk/funds-insider/news/woodford-equity-income-suspends-dealing-after-spike-in-withdrawals/a1235061

[mad foetus] 03/6/2019 16:53

But what is relevant is that dealings have been suspended on Woodford's fund. Not sure how that will play out