Burford Capital Share Discussion Threads

[nigelpm] 10/8/2019 11:58

The problem is another short research firm coming out for the same company adds weight to the short view. It doesn't mean it's right but adds weight and the market will punish thus.

[haveapunt1] 10/8/2019 11:56

E&Y 1) won’t want to get involved and 2) it’s common sense that if E&Y have audited it and signed it off surely its “reasonable and fine”?

[letmepass] 10/8/2019 11:55

As if they'll respond i think they have better things to do

[thedisciplinedinvestor] 10/8/2019 11:52

I just sent an email to Bogart, Molot and O'Connell at Burford ($BUR) asking for an statement from their auditors. If E&Y confirms that unrealized gains are reasonable, then it is over. At the end of the day, that is the role of an auditor. Please retweet to call their attention @MillonariosAnon

[goodbloke1] 10/8/2019 11:31

I doubt it .MW are a big outfit and the share seems to be in recovery mode Gotham will be like a fly to be swatted in comparison in my opinion.

[winsome] 10/8/2019 11:26

Well let's hope one of these smash n grabbers also talks about the massive cash receipts BUR have made on investments. But they won't, because that is where the truth lies. They aren't interested in the facts. MW's headliner first page was saying husbands and wives cannot run businesses together. Not ideal but not fraud. So make mountains out of mole hills and ignore mountains of cash.

[nigelpm] 10/8/2019 11:24

Going to be fascinating this - I was coming to the view that MW had overdone this i.e. there was no fraud but just some fruity accounting - be interesting to see what Gotham City come out with - anything materially different to the MW report and this tanks again.

[nchanning] 10/8/2019 11:20

But Gotham City to publish their own dossier tomorrow

[ayl30] 10/8/2019 11:19

Take the money and run!

[nchanning] 10/8/2019 11:18

It seems like Muddy Waters has completely exited short according to FCA tracker ?

[williamcooper104] 10/8/2019 11:08

Yep - sorry - I'm guilty too - no more brexit from me

[goodbloke1] 10/8/2019 11:06

Anyway I am sorry to digress from the main discussion but felt I had to respond to such Brexit ignorance earlier on! I won’t post again on this subject!

[goodbloke1] 10/8/2019 11:04

We all know when the top EU leadership Europe exert their pressure on the smaller countries, they will fall into line! As I said before, Europe will have to negotiate a decent trade deal if only for their very survival! They only got that Micky mouse agreement with very weak leadership previously .When they realise after the 31 October their game of chicken has failed they will negotiate!

[winsome] 10/8/2019 11:01

MW "Burford potentially Insolvent"

SP "IMF Bentham slates Burford Accounts"

I cannot vouch for level of integrity at BUR but the above fake headlines show the low level of integrity and journalism with the writers. They show themselves up. Even the Daily Mail would not print such twisted headlines and without giving the other side a chance to state their side of the story. This is so far below even the likes of Daily Mail, which says something.

But this is pure smash and grab work. MW and share price were not interested in contacting BUR first and they had a great chance to jump in on a very public concall with BUR and ask questions.

But they are not interested in getting to the facts. Pure smash and grab. No integrity or journalism involved. Now they come on forums under multiple alias's to justify themselves. No integrity.

[williamcooper104] 10/8/2019 10:56

You've no idea how trade deals work in Europe - you need complete agreement from all governments and some sub-national bodies Some are hugely effected by brexit and some will be better off That's why it takes many years to get a deal Under art 50 you have the ability to agree it direct with the commission - losing that ability is criminal negligence

[goodbloke1] 10/8/2019 10:47

From Mick’s post on the LSE chat board quoting from Stockopedia:

Paul Scott STOCKOPEDIA Small Co Value report

I reviewed Burford's rebuttal document here in yesterday's SCVR. It comes across very well, I think - giving plausible-sounding explanations to refute Muddy Water's claims. Similarly, I tuned in to the conference call yesterday afternoon, but had enough after about 90 minutes. Again, management seemed thorough in their answers, and give the impression of being determined to restore theirs and the company's reputation. Subjectively, it seemed to me that management were giving honest answers, and didn't seem to be hiding anything.

It seems fairly clear that Burford is likely to take Muddy Waters to court, over what it seems as market manipulation. I think that's probably a good thing. Shorting dossiers are fine if they reveal a fraud, like the many Chinese companies, and others like Globo, and Quindell.

However, if they try to deliberately trigger a plunge in share price, by putting out a dossier that turns out to be full of inaccuracies & misrepresentations, then the shorter looks, prima facie, guilty of market manipulation.

hxxps://www.stockopedia.com/content/small-cap-value-report-fri-9-aug-2019-snd-bur-otb-pen-502356/

[goodbloke1] 10/8/2019 10:36

Trust me Minerva , do you really think the EU don’t want one of the biggest economies in the world on their doorstep trading with them on mutually advantageous terms? They won’t give us a trade deal because they want to.It will be for their very survival to prevent huge discontent within the block that will ensue!If you think they will not give us a good trade deal after the internal infighting among the 19 or so smaller economies that will follow , knowing their economies will suffer utter devastation then you really are ignorant! It’s not just two thirds of the EU that will suffer but especially Germany and France .We import far more then we export to them so no trade deal will hit them far more! To give you an example with Germany, their economy is already suffering and it will only get worse with Brexit if the breathtaking arrogance and intransigence of the EU leadership doesn’t wane!

Minerva in your innocence, you can’t see this is a ‘game of Russian roulette and if they are not careful they will end up shooting themselves in the head if they refuse to negotiate to the mutual benefit of all! You will see I am proved right!

[harrydyer2310] 10/8/2019 10:34

Anyone seen there’s a legal team looking into Burford?

[gettingrichslow] 10/8/2019 10:32

You’ve made 7 allegations there Minny, 2 were correct, 5 were incorrect! Not a great return Minny!

[minerve 2] 10/8/2019 10:23

The EU with Japan's new trade deal is the largest trading block in the world. The US sinks into nationalism that is making Asia have a rethink on how much trade it should depend on with the US as opposed to the rest of Asia. The EU is on our doorstep. Tell me how shipping pork to China reconciles with global emission reductions. Tell me how we are going to have a mutually beneficial relationship with the US when they have seemingly no mutually beneficial relationship with any other country at the moment. We will become the US puppy, like you numpties want us to. Tell me why you think supply chains are important and what JIT manufacturing is. Tell me what affect a compromised supply chain has on a balance sheet and income statement and tell me how that makes a company more competitive rather than less competitive.

I'll be waiting for your grey or straw man answer...

[goodbloke1] 10/8/2019 10:23

Thanks gettingrich.

This is not about supporting a political party for me or about immigration but basic economics (something I know a little about lol to be modest!).

[5chipper] 10/8/2019 10:20

Maybe IMF and others will one-day provide the market with case metrics in the same detail as Bur so that investors can better compare

[edmondj] 10/8/2019 10:20

Shanklin,

My own preference - albeit at the risk of complicating accounts - would be to provide both bases of accounting, then investors can see what material differences.

A conservative end-game results' basis, versus the mark-to-market approach.

After all, any company involved in acquisitive development 'normalises off' amortisation, acquisitions/integration costs, and plenty others capitalise development costs - resulting in two sets of profit/EPS.

This is standard practice for many listed plc's yet there aren't too many protests at 'complexity'.