Burford Capital Share Discussion Threads

[galatea99] 04/7/2019 01:16

"He says he has never met Neil Woodford, and has only spoken to him once on the phone several years ago. But the pair share several business interests. Woodford-backed litigation funder Burford Capital has formed a partnership with peer Manolete, which numbers Moulton among investors. Both businessmen were investors in digital challenger bank Atom."

From Daily Mail/This is Money.



(Two new bits of information there).

[qruz] 03/7/2019 23:05

Hi Jon, I've never owned directly bonds how do you go about purchasing the BUR2 or BUR3? Wondered if I could do it through my HL broker.

[jonwig] 03/7/2019 16:06

Jack - yes, the bonds seem to be moving in sync, a bit. I hold a few BUR2 and BUR3 and I'd have thought they were a lot safer than most retail bonds - and certainly safer than Italian sovereigns!

As you say, interest rate trends should see their prices rising.

[cousin jack] 03/7/2019 15:57

I note that the Burford Corporate Bond (BUR3) is on offer at 100p. Comparing that to other bonds ( and recent bond price trends)it seems a surprisingly low price which. Obviously it doesn't have the same chance of significant gain that the ordinaries have ( and maybe that's why it' priced at par still) but I'd have thought it would be interesting for income seekers. Any thoughts on this appreciated.

[onjohn] 03/7/2019 10:43

cant hold its gains these days

[djderry] 03/7/2019 09:54

Fair point Williamcooper104,I hope you're right.

[williamcooper104] 03/7/2019 09:26

The problem with PE is that even at a not massive premium it would still take one of the big American firms to take it down

And with those firms (which are now massive financial services entities way beyond classical PE) comes huge conflicts of interest - eg Blackstone are the most natural fit - but they are the most diverse with the greatest potential conflicts

[williamcooper104] 03/7/2019 09:22

Dj

I’m usually a happy docile when being bought out for a premium

But Burs about the only stock I own where that would not be the case

That said there’s always a price - but that’s £40 something - eg sort of PE that Mano has traded at

[jonwig] 03/7/2019 08:10

A question asked the other day about Hardman. Their 'Monthly' is out today, and doesn't include Burford in the companies it covers. Given the recent news, it seems obvious that Burford have terminated the association.

[5chipper] 03/7/2019 07:33

According to the Times Wford has sold out of Stob, raising £70m and to date has raised £420m through sell downs.

[djderry] 03/7/2019 00:50

All spelling and grammatical errors due to predictive text,honestly!

[djderry] 03/7/2019 00:33

At the risk of repeating myself ( well,it never stopped me before),I fell the Woodford shareholding may turn out to be (more) detrimental than a mere overhang of shares that might depress the share price.As I often say ( again),the share price is of little interest.If it's down ,it provides opportunities to add.No,what I'm worried about is if some private equity (is sovereign wealth fund) Hoover's up Woodford's shares at ,let's say a 10/20% premium,does the same with Invesco and sweet talks our management with talk of additional equity ,pointing out that Private Equity is their natural home; no more pesky artificial six and twelve month returns,instead focusing on multi-year returns.Offer the retail investors £20 / 25 quid a share and,like turkeys voting for Christmas,they will line up like docile birds,forgoing the years of compounded earnings ahead.It would never happen,or could it?

[brexitplus] 02/7/2019 14:29

I can’t think Woodford would even think of selling until the results. And as other comment this would increase the percentage of illiquid shares.

I would like to see listing on the FTSE which I believe would increase the share price

[arregius] 02/7/2019 13:18

Buy back? They can get much better returns investing as they do. iMO

[winsome] 02/7/2019 12:21

Would be great if they used the recent $100m to buy shares from Woodford at 1500p each, then issue a $100m 5 yr 5% bond. That would make good business sense. Downsize is it would only increase their debt ratio.

[rar100] 02/7/2019 10:53

Any chance that Burford could buy back some shares?

[winsome] 02/7/2019 10:40

apad, I wouldn't disagree with you. Bogart did say recently a dual US listing was most likely option sometime in the future. I must admit I don't know what hurdles they'd have to jump through. Perhaps more detailed reporting on their investments and CEO not being married to current CFO.

[apad] 02/7/2019 10:24

winsome, BUR is listed in Guernsey presumably because of low regulation. A leap to the US seems unlikely unless and until the sector is more established. UK was chosen for regulatory reasons and presumably AIM vs main market also.

I agree about Woodford and doubt the survival of his trusts.

apad

[winsome] 02/7/2019 10:10

MF, you are probably right about CG. They are house broker for LTCM and encouraging just a small proportion of BUR investors to switch to LTCM would have big impact on LTCM's share price No one can deny there is a blatant conflict of interest there re their article on BUR. The usual skulduggery and nefarious goings on in the world of investing.

I too can't see Woodford selling BUR soon as it would only increase the percentage of his holdings in unquoted/illiquid stocks that he has to reduce. But he is certainly a cloud over the share price Not many fund managers take on big positions in AIM so there are limited buyers for his holding even at a discount if he were to sell.

I think BUR at some stage next 18 months need to dual list in US if share price stagnates.

[galatea99] 01/7/2019 19:28

"Is Now The Time To Put Burford Capital (LON:BUR) On Your Watchlist?"

From Yahoo Finance.

[galatea99] 01/7/2019 19:11

"Litigation Financing: A Controversial Industry Does Well By Doing Good"

Article from "Forbes".

[horndean eagle] 01/7/2019 16:54

If Woodford is looking for liquidity I imagine he will wait until results are out and hope for a spike higher (as has been the norm). Would seem to be the perfect moment at which to launch a secondary issue. If he goes down this route then Woodford will be effeectively waving the white flag and winding up. BUR is probably one of the last positions he would ever want to sell if given the choice.

[qruz] 01/7/2019 14:19

MF if only you had another lunch lined up with CB, you could of asked about the woodford mess.