Burford Capital Share Discussion Threads

[growthinvestor2001] 13/8/2019 08:52

Agree with earlier poster, - will you guys ( 1corrado
, onjohn and others) please stop cluttering up this board with meaningless predictions of price. Its very tiresome.

Do not feel like you need to post and commentate every few minutes because you are clearly cacking yourself with regard to the position you hold.

Please - if its not factual - just hold off from posting - thank you all in advance.

[blusteradjuster] 13/8/2019 08:51

“Fair value” - if that’s what the current price is, minute by minute - is as much about perception as any tangible assessment of the value in a business.

Given the recent price action, the showbiz behaviour of Block with pre-tweets, tweets and interviews and now the 24/7 deramping by the shareprophets crowd, that perception of value is shot to pieces.

It really is that simple.

[eentweedrie] 13/8/2019 08:49

there are some pretty good traders here no doubt

[wardy333] 13/8/2019 08:49

Surprised the Director buys are doing nothing here, some large amounts of cash invested and some at much higher prices than this.

[eentweedrie] 13/8/2019 08:49

i reckon this is being moved up to push down again...rinse and repeat

[daftweejock] 13/8/2019 08:46

ONJohn most of us want to make money on this rising but your predictions are just horsesht so leave them in your head. You said 1000p close yesterday morning.

[1corrado] 13/8/2019 08:45

800p by the close at least.

[lionheart69uk1] 13/8/2019 08:45

675p by close, john

[sweet karolina2] 13/8/2019 08:37

William,

Yep accounting by actual cash is lumpy, but at least it is real. IMF shareholders know that and expect that and deal with that. By amortising that $1bn over the years of the case, taking it as profit in advance of it actually being received would have the equivalent reverse effect if the case is lost (seems unlikely) or (more likely now) the case is won but there is no chance of recovery because Argentina simply refuses to pay. BUR has derisked this by selling off stakes in the claim and provided cash has been received and cannot be sucked back for those stakes, then that can be accounted for and does smooth the lump. I think BUR is going to have trouble selling any more Petersen now and in the future if the result in Argentina in Oct does now go as the primary indicates it will.

[onjohn] 13/8/2019 08:35

love 900p by cclose

[1corrado] 13/8/2019 08:32

The bleu is on side...........800p by the close.

[williamcooper104] 13/8/2019 08:32

There's a good track record of defaulting Argentina paying international creditors - eventually - eg Elliot ship nicking So there's every chance that a defaulting Argentina would eventually pay the perhaps $1bn owed to Bur (but we could be talking years and years though to be fair Bur have never said anything else) But the current mark of any debt would on an Argentinan default clearly be considerably less

[molatovkid] 13/8/2019 08:32

Here we go!

[ozzmosiz] 13/8/2019 08:29

reverse start of yesterday.

[williamcooper104] 13/8/2019 08:27

Read the Times article If Burs reponce is words then (IMO) it won't end We need concrete actions now

[cc2014] 13/8/2019 08:27

is this relevant to Burford?

[littlepuppi7] 13/8/2019 08:25

I suspect that's the last dip now, the games are over, the drop was stupid and these will recover..

[williamcooper104] 13/8/2019 08:22

Fair value uplifts allows petterson gains to be taken over many years Imagine if there was no P&L gains and then one year almost $1bn into the income statement That $1bn would (IMO) not command an equity multiple (or a very low one)

[sweet karolina2] 13/8/2019 08:21

So nothing completely new just re-enforcing what has already been exposed.

BUR could have drawn all the sting of this yesterday by announcing, as I said it should:

CFO resignation, change of auditor, independent accountants to re state all FYs in cash accounting terms and provide a comparison.

As I said at the time the call provided MW with more of the same ammunition.

MW only hints at the problems political change, which looks highly likely now, could have on Petersen and links it to BUR refusal to clarify carrying value.

BUR calling for FCA investigation made me smile - BUR about to be savaged by a dead sheep for the next 5 years with SFA coming out.

MW could have made much more of BUR's silly legal attempt, but just stuck to defending itself and dismissing it and the professor.

Overall this is far less sensationalist and far more to the heart of the real issues. MW eschewed a number of opportunities to play PR games, which says to me they are deadly serious. If BUR continue to prevaricate on addressing the key governance and accounting issues properly, this rumbles on and on.

BURs argument is they have a machine which you put £10 in the slot and £20 comes out 2 years later and what they are doing is stuffing as many tenners in as they can get from loans, equity raises and the Scores they have been getting back. MW suspects that machine is more like a ponzi scheme. Only by BUR taking the actions we all know they need to, can BUR restore confidence that their magical cash printing machine is real and not a fraudulent bubble, which will eventually pop disastrously. By attempting to distract from taking those actions through nonsense market manipulation accusations and other subterfuge, BUR further damages confidence in the magical cash machine its accounts claim it has.

[ghhghh] 13/8/2019 08:21

Burford's response will be a watershed moment! If they can repeat the success of last Rebuttal they are in the clear.

But can they? Moment of truth

[g2theary] 13/8/2019 08:21

Back to 800!!

[1corrado] 13/8/2019 08:21

OFF THEIR LOW........................recovery coming..................