Burford Capital Share Discussion Threads

[showme01] 13/8/2019 05:20

Ernst and Young auditors. If they were not 100% satisfied with their audit, they wouldn't sign the accounts off. You can't cook the books and get it past someone like Ernst and Young.

[showme01] 13/8/2019 04:52

This gives a good overview of the make up of the balance sheet, Burford's activity and P&L. Total assets $2.3bn. That generated a 6 month profit after tax in 2019 of $225m up 36% from the same period in 2018. That's £1.9bn of total assets against a market cap of £1.65bn and that generated in the first 6 months £186m of profit. The figures speak for themselves.

[dudishes] 13/8/2019 02:07

BTW, I love riddles, one has to work on it, yeh?

[dudishes] 13/8/2019 02:05

I'm visiting UK, had another BBQ sometime earlier, on the razzle with my Son at the mo, Bicardi flavoured Rum Swizzle I believe. Wish you could join us. Yer right, I haven't changed.

[dudishes] 13/8/2019 01:57

Awight Scotty, probably lost my head, and who I am!

As I'm 500 up, good one to watch, don't yar tink?

What you doing these days? Not seen for ages.

Dud

[scotty666] 13/8/2019 01:09

Because share price go up & down? Blimey dudishes in all the years I have seen you post suddenly your posts are not full of riddles, either you have finally sobered up or forgot who you are for the evening.

[dudishes] 13/8/2019 00:55

Didn't notice earlier, but price dwindling, I wonder why?

[dudishes] 13/8/2019 00:52

A false accusation, by MW, in the BUR book, lets mention many front litigators, just for public consent, or shareholders losses?

Bring it on brother, as with Gotham, do your bit in UK, but dare you try it in US of A? Doubt it!


Pushhh, maybe accounts should be checked prior to any further counselling?


As with "The Firm" shades of easy money.

[williamcooper104] 13/8/2019 00:51

Here's an amusing thought - in 3 months time the NAV could be down 20 percent on Peterson credit spread fair value movements - and yet to us the sterling NAV could be the same as our post brexit currency goes to dollar parity So are we worse, better or as toxic as Argentina :)

[williamcooper104] 13/8/2019 00:46

Henchard Generally Bur are funding cases they don't actually buy litigation claim (unlike Mano) So in theory it ought to be only what they put on table that can be lostHowever - they have deep pockets and will always be a target for vexatious litigation and of course litigation often begets vexatious litigation Depending on the facts of a case/the jurisdiction there is always the risk that they could incur legal liability/be successfully sued

[dudishes] 13/8/2019 00:44

Bond holders screwed, 1, 2 & 3, why is that?

[dudishes] 13/8/2019 00:41

W104, when did you last study their accounts? Interesting reading if you go back several years.

[williamcooper104] 13/8/2019 00:28

Chucko - not so sure the costs are much higher than an investment company An externally managed investment company that had outperformed would have its NAV diluted by management carry A lot of Burfords running costs will be the equivalent to external management carry via staff bonuses

[henchard] 12/8/2019 23:55

Thought for the day:

Can BUR

(A) only ever lose only the cash it invests in a case?

(B) lose more than the cash it invests in a case?

If (A) BUR could be considered as having a long position in the party its backing.

If (B) BUR could be considered as having a short position in the party its opposing.

Is BUR effectively a Muddy Waters or Gotham City in the litigation world?!

[dudishes] 12/8/2019 23:53

£16 to £7.50 does sort of tell a story, what?

[gettingrichslow] 12/8/2019 23:52

Where did all of these lunatics come from? Why have they all got a mental age of two?

[dudishes] 12/8/2019 23:50

Just listened to TW bearcast, he is in favour of BUR. I wonder if the case is, gotcha! beat you to it? Although the apparent 2nd in command alluded to issues, he did not know what they were, or how to figure. Probably got a whiff, as they do with China frauds, but could not establish merit, hence on the defence. I may contribute to the site, but one retains the same pace, or one step ahead!

So given, seems accusations of Tim being others on this thread, put to bed, yeah!

But the price remains in half!

I, however, disagree with my good friend TW, why are BUR not self funding?

Case closed for now.

[henchard] 12/8/2019 23:49

No worries riverman, it helps to start from a factually accurate base.

I think BUR and companies in this still fairly nascent sector are hard to value. Should they be valued as investment companies or trading entities, or something in between?

I think BUR was originally officially classified as a non-equity investment company and the classification was changed to a financial services company, which I think highlights the thorny problem of how they should be valued.

----

Lairy Larry, good luck with your trading, hope you're one of the small percentage that doesn't end up wiped out in the long term.

[psychochomper] 12/8/2019 23:41

Larry, I take it you are HBS-educated?

[lairy larry] 12/8/2019 23:31

Only thing you need to know in this world of smash and grab and P&D

is these 2 ratios

Rate of Tanking

and rate of climbing.


Stick your numbers in Larry supercomputer, kerching you will get the projection.

[riverman77] 12/8/2019 23:24

Thanks Henchard - sorry I picked up the wrong figure and your figures look correct (although not Stocko which frequently has the wrong figures). As I say I don't really find price to book especially relevant for BUR, but 1.27x certainly looks cheap given the returns these assets are generating.

[littleweed1] 12/8/2019 23:15

As a journalist I would be very interested to hear the answers to jonwig’s questions.