Burford Capital Share Discussion Threads

[cliquot1] 07/8/2019 23:28

I am halfway through Muddy Water's note. All so far is deliberately sensational, much is plain stupid, a lot need substantiating and a bit is as I've been worrying about anyway. Ultimately, the point is what is BUR currently worth? and the answer is a lot more than 500p. Even if MW have got their sums/logic right (in lots of points they demonstrably haven't) and BUR only had invested capital of ~$800m, trading at around ~1.0x book (as the shares were today) the stock market was being silly and MW no doubt took advantsge of the lower levels to close their short. No doubt they will annualise the day's return and tell investors that they made a 18,000% return!

[scubadiverr] 07/8/2019 23:22

How do you come to believe the average aim user will have profited £800? Or that the shirt has earnt MW 15m?

[tomv33] 07/8/2019 23:12

Will this recover? Your thoughts?

[tsmith2] 07/8/2019 23:01

Burford also announces that it has sold a further 10% of its entitlement in the Petersen matter into the secondary market it has been developing, leaving Burford with 61.25% of its original entitlement. The sale price was $100 million, implying a value of $1 billion for Burford's entire original Petersen entitlement. Burford has now generated $236 million in proceeds from Petersen sales. As the market value of the Petersen matter has continued to rise (and as Burford also has further exposure to YPF-related claims through the Company's investment in the parallel Eton Park matter), reducing Burford's total holding and locking in significant profits represents prudent portfolio management. However, Burford has committed always to hold at least 50.1% of its original economic entitlement in the Petersen matter. The sale was to 11 institutional investors and was significantly over-subscribed. Including prior purchasers, there are now approximately 40 institutional investors participating in the Petersen secondary market.Burford will consider the impact of the Supreme Court's decision and further secondary market trading activity as part of its investment valuation process for the six months ended 30 June 2019. Our valuation process is discussed in detail in our annual reports.:)

[bulltradept] 07/8/2019 22:55

IC View
Until recently, Burford was the largest stock on Aim by market capitalisation. There are two important reasons why we, along with Invesco and many other investors have found ourselves bullish. First, because we accepted the litigation finance model requires an above-average trust in management judgement and accounting opacity. Second, because there were plenty of external sources of validation, including the group’s ease in raising fresh equity from multiple sources, clean audits from EY, and a team composed of top-flight litigators. The Muddy Waters report suggests both positions may have been naive. It is also categorically bad news, made worse by Burford’s initial reaction, though we are struggling to square it with a share price reaction that looks almost terminal. The CEO and CIO intend have announced their plans to buy shares, but we downgrade our speculative call (415p, 6 October 2016) as we await a full and proper response from the company. Hold.

Last IC View: Buy, 1,552p, 25 Jul 2019

[smcni1968] 07/8/2019 22:53

why isn't this POS listed in the US? all the management are in New York .lol

[cynicalsteve] 07/8/2019 22:49

If you can keep your head when all about you are losing theirs...then somethings happened you don't know about yet! But seriously, I'm hopeful this isn't another AIM embarrassment like Conviviality and Patisserie Valerie, if it is then AIM is finished as a place for sane investors.

[henchard] 07/8/2019 22:39

Develpha, noooo! You've just destroyed my cheery disposition. Don't you know every company that's ever been unmasked as a fraud/POS has had those Kipling lines unleashed by some Advfn poster as a last line of defence. You've only gone and put the final nail in the coffin.

[smcni1968] 07/8/2019 22:29

The Muddy Waters report is a cause for celebration, not for alarm

[devalpha] 07/8/2019 22:19

If you can keep your head when all about you are losing theirs...if you can wait and not be tired by waiting...if you can think and not make thoughts your aim...if you can trust yourself when all men doubt you...yours is the earth and everything that's in it.Let's see how Bogart & Molot respond over the next few days and how the investor call goes.I have a feeling Block has underestimated them both, but time will tell. Hubris could well backfire on Block here and making a quick buck through squeezing holders out through fear and panic will earn it's just reward in time I suspect...Cool heads, rational thinking required. Good luck to all long term holders.

[onjohn] 07/8/2019 22:14

Could be there at £10 by 10-30am

[nw99] 07/8/2019 22:13

I would love that

[onjohn] 07/8/2019 22:12

Key Takeaway
BUR's share of recoveries from the Petersen investment could be $2.5bn, c. 155% of the current market cap. I think the market underestimated this

10 pounds tomorrow

Dyor

[nw99] 07/8/2019 22:11

Last 1 hour buyers only

[a_2_z] 07/8/2019 21:55

I had to be buy via dma, buy market. You could sell rsp but not buy.

[share holder] 07/8/2019 21:31

i tried to buy just£5000 worth today but could not get an instant quote strange if so many people are seem to be selling.

[tsmith2] 07/8/2019 21:29

ambulance chasers

[edmondj] 07/8/2019 21:27

You couldn't make it up:

If you purchased Burford Capital Limited securities and would like to receive information about our investigation concerning the class action to recover your losses in Burford Capital Limited securities, please provide us the information in the form below.

A representative of The Rosen Law Firm will contact you at no cost to you and provide you detailed information concerning the proposed class action to recover your losses in Burford Capital Limited securities.

[jovi1] 07/8/2019 21:27

Chimers are you sure about muddy water?
Check Orintal paper inc all the allegation where wrong and no one find any wrongdoing

[tsmith2] 07/8/2019 21:23

https://youtu.be/9KvmdZK8VNghave a listen. especially the Q&A at endexcellent listen Sovereign fund deal and portfolio funding (which forms a big part of the business), mark to market vs cash etcall answered:)

[onjohn] 07/8/2019 21:08

Heard a rumour that a soverign wealth fund could possibly put in a 200m pound buy order
Now that would be ace

[cokehookerscars] 07/8/2019 21:07

Averaged down at near its (so far) bottom.
I am tempted to get into the bond but would be my first ever bond purchase. I know the general principal but need to read up a bit more on bonds in general.