Burford Capital Share Discussion Threads

[1corrado] 14/8/2019 08:53

no chance on 900 below 800p is more lucky but I could be wrong..............

[brexitplus] 14/8/2019 08:50

Pal44

Agreed.

It’s as if they are being given material to post by interested parties.

[1corrado] 14/8/2019 08:49

waiting for below 800p to move back in again if they do otherwise I am not worry so far I made around 30k and that is serious money.

[onjohn] 14/8/2019 08:48

could we go over 900 today



i think we might

[williamcooper104] 14/8/2019 08:47

Not only wife - but not actually on Board - so won't sign or take any liabilities for the accounts

[onjohn] 14/8/2019 08:44

Vroom-vroom
Vroom-vroom
Vroom-vroom
Vroom-vroom
Vroom-vroom
Vroom-vroom
Vroom-vroom

900

[1corrado] 14/8/2019 08:42

oh no 820 never mind bought glencore at 232.5

[pal44] 14/8/2019 08:39

reading some of the posts here one has to bear in mind that chimps in boiler room are at work too. GLA

[onjohn] 14/8/2019 08:38

coming soon mate

[1oughton] 14/8/2019 08:37

wheres that £12 you promised everyone earlier this week you muppet ONJohn ?

[gettingrichslow] 14/8/2019 08:34

Well someone is very upset this morning!!
Wow, why the huge amount of painstakingly detailed research and long posts SweetK, when you claim to have no financial interest here?????
You seem THE MOST interested of all the posters on this board!!

[onjohn] 14/8/2019 08:32

DOes Tom Winnifroth still run that Pizza place with poor trip advisor reviews

Hawaiin and extra pineapple please

[ozzmosiz] 14/8/2019 08:30

1corrado filtered

[sweet karolina2] 14/8/2019 08:30

brexit,

I have had 4 legal threats from 3 different companies, one even filed for an injunction, which was pulled before it went to court with the plaintiff agreeing to pay costs. All 3 companies are now either in liquidation or liquidated.

I know what I am doing and I am not bovvered by your pathetic attempts to scare me. I suggest you have a proper read of the defamation act 2013.

[yidarmytom] 14/8/2019 08:28

here's Tom again using his favourite word, Fraud, which you'll find on almost all Shareprophet articles. Bands it around willy nilly....

[sweet karolina2] 14/8/2019 08:26

Nobbygnome14 Aug '19 - 07:09 - 10480 of 10492
0 0 0
The major point in SK's mind is clearly the case in 2014. I don't understand why one bit of dodgy corporate governance 5 years ago means the company in 2019 should suddenly be worth half of what it was last week.

Yes I know there are other issues but that is what he is banging on about continually...

Really Nobby!!!????

Have a read of the 2013 report - published and signed off by E&Y just over a month after the verdict on Napo. There is lots in there about how prudent and conservative they are and how any judgment leads to a revaluation of the investment.

Post tax profit for the year was $2.665m down from $17.313m then look at the completed cases investments made in 2011; Napo is the top one of that cohort (MW report identified it as such and BUR confirmed it was). A return (not fair value guess but this is now confirmed) of $15.8m was booked which should have been a zero given the verdict, all the later shenanigans were not foreseeable at the time. Hence a post tax LOSS of $13.1m should have been reported.

IMHO that is clear cut accounting fraud. There is nothing in the report that in anyway corroborates the elaborate story of another entitlement completing first and being booked. Most telling is note 24:

24 Subsequent events

There have been no significant subsequent events

Surely the loss of a case of such relative importance is a significant event.

So IMHO BUR lied in its annual report and lied in its rebuttal. That does not concern you at all???

On the back of 3 years of consecutive profits BUR raises significant new capital though a bond issue. I can't find any thing anywhere prior to that issue where BUR lets those taking the bonds know there is any doubt at all about what it presented a few months earlier in its annual report.

IMHO that is clear cut securities fraud.

There are later some very strange shenanigans where the investment is converted to Napo debt, a debt which, having lost the case, Napo is unlikely to be able to repay and indeed it is only the later even stranger Jaguar merger and IPO backed by a major BUR shareholder (with other peoples money) that returns any of it, but in 2014 accounts the completed case return booked is increased further. These are all facts confirmed by BUR but with a load of highly dubious spin put on them.

So, unless there is an alternative explanation for those facts, lies were told in 2013 and again in 2019. Fraud was committed in 2013 report (2014 publication) and again every year until the accounts were finally put right - there have been other equity and debt fundraises since then.

Are these the only lies and fraud committed? or are they the tip of an iceberg? I do not know the answer to that, do you? You may feel inclined to give BUR the benefit of the doubt, fair enough you have to consider the available facts and analysis and make your own judgement on which to base your investment decision.

However given BUR is under short attack and all the governance issues and everything else that is in the media, what would be the effect on general equity and debt market confidence of the lies and fraud being fully exposed?

Finally read the RNS of 3 Nov where Miriam had left. That was not a normal departure. Liz is confirmed as being in the accounts department when the IMHO fraud was committed and despite the other people named as taking over, Jefferies believe it was really her all along. Then add to that the report that Bogart is in no hurry to do anything about any of the real issues and the fact that Liz was his wife was not disclosed at the time of her appointment as CFO, following annual departures (like being Defence Against the Dark Art Professor at Hogwarts) of her predecessors.

Think about all those points and come back with any of your own research and analysis, but maybe once you have, you will understand why one (seems a lot more than one to me) bit of dodgy (fraud is more than just "dodgy") corporate governance 5 years ago means the company in 2019 is suddenly be worth half of what it was last week and indeed is potentially still way overvalued.

[gettingrichslow] 14/8/2019 08:18

Surprised these traders aren’t on KIE, which has doubled in the last few days.

[hawkind] 14/8/2019 08:18

970 close, you heard it here first, anyway off to work :o)

[1corrado] 14/8/2019 08:17

selling my holding was the right action and I made feww quids from my purchase price of 778

[wardy333] 14/8/2019 08:16

32 points off in 16 Minutes Bots doing well today !!.

[tsmith2] 14/8/2019 08:16

Rinse and rise

[1corrado] 14/8/2019 08:15

who was right now 795 and going lower...................I am the master of trading ha ha ha all dreamer.....I did say either 900p or 700p but no rns i did smell a rat and sold.