Burford Capital Share Discussion Threads

[rrb] 15/8/2019 15:58

I don't see how the shorts can hold fast given the news flow here. This thing has to squeeze back to 1200p short-term.

[sbb1x] 15/8/2019 15:58

730 - 850 well done holders. I was looking to buy at 730 ish.

[hawkind] 15/8/2019 15:57

Any chance they want to ensure a US listing so MW can't hide behind US law and BUR want to take them to tbe cleaners. I reckon they will go after them big time.Well, moving to main market listing whether US or LSE certainly doesn't sound like a move of a company " arguably insolvent" the cost of doing that to assure shareholders would suggest they are rolling in cash. I was confident before today's announcement, absolutely ecstatic now. This news, along with my other holding in ECO. Oh what a week. :o)Where is our Sweet Karoline? Preparing a card board box for the cold nights ahead in shop door ways.

[ozzmosiz] 15/8/2019 15:56

Let's see if the papers report this superb news

[adnan17] 15/8/2019 15:54

those short positions getting burned...quickly close your short positions before you get any further margin calls....lol

[winsome] 15/8/2019 15:54

sk, fair point but why didn't Viceroy use the info to take a short position and release their own report? Now, as you are interested in what posters have to say on here, in the interests of balanced reporting, how about writing another article seeing things from the other side? I can suggest an outline as follows:

Headline: "Have Muddy Waters Just Plagarised A Discredited Viceroy Report?"

Outline: After having successfully exposed serious fraud at Steinhoff in South Africa, Viceroy short sellers moved on to attacking SA's fifth largest bank and best performing JSE stock from the last 10 yrs - Capitec. Viceroy accused Capitec of being 'a loan shark masquerading as a community finance provider' (the same catchphrase MW used to describe Burford')

Viceroy then went on to claim that Capitec couldn't possibly outstrip the returns made by their rivals and would have to in fact make large rightdowns on their loans and that they massively overstated their financial assets and income. They claimed that Capitec were seemingly insolvent. They also accused them of having a non-independent and incestuous board that could'nt be trusted. They then accused them of hiding losses and disguising loans gone bad.

The Muddy Waters report is similar in style and content to the Viceroy report, using comparable accusations and innuendo such as 'masquerading' and 'seemingly insolvent' and readers must wonder if this was a cut and paste job to fit with an attack on Burford.

This is not to say that MW report is totally fabricated and without substance. But the Viceroy report was immediately taken seriously by South Africa's National Bank who investigated Capitec and found no wrong. Then the SA regulator also acted and gave Capitec a clean bill of health months later. Viceroy's report (much more detailed than MW's) was discredited and Capitec's share price recovered. And, btw, SA's banks are highly regulated and did not suffer consequences from the 2008 credit crunch. This begs the question - just how reliable are these short selling reports? The jury is still out on Bur until they provide more reassurance to investors.


So why not, sk? DYOR. It would be more balanced than, for example, "IMF Bentham Slates Burford Accounts." That was shareprophets fake headline.

[adnan17] 15/8/2019 15:53

I think SK posts have definitely helped. The management has been listening to her posts after all she does have TWO Masters degrees

[monte1] 15/8/2019 15:53

Hawkind

Thank you for your kind words.

💗

[nw99] 15/8/2019 15:52

Great news

[yidarmytom] 15/8/2019 15:52

One thing this Company is not doing is panicking

[adnan17] 15/8/2019 15:52

Looks like Burford management have been reading this chat and responding.

Companies are owned by their shareholders, and when the shareholders speak, it is the role of boards and management to listen. While we may take a different view on some of these points, shareholders have clearly spoken and we have listened, just as Burford has throughout its existence. We trust that these governance enhancements operate to bolster investor confidence in Burford as it enters its next era of growth and success

[onjohn] 15/8/2019 15:52

Only problem I foresee is auditors being more pedantic and there could be a profit warning if they can’t book to model no more

[trident5] 15/8/2019 15:52

Again - a non-accountant as CFO.

[hawkind] 15/8/2019 15:51

Monte1 you absolute focking thick doughnut, yeah really panicking let's get a listing in either the US or LSE Main Market listing where governance and control is far more tighter and stringent to adhere too. You really are thick as fock.

[3dwd] 15/8/2019 15:50

In my opinion ..this is massive step in the right direction..and shows they are not concealing anything..it will certainly satisfy alot of criticisms.. listing in USA also a sensible move ..

[yidarmytom] 15/8/2019 15:50

Basically the company has said MW can stfu because when they list on NYSE they will be the first legal finance firm to do so and will need corporate governance way in excess of what is needed in the AIM casino

[bobdown2] 15/8/2019 15:50

No chance of the shorters getting out.. Burford have done the business..

[steeplejack] 15/8/2019 15:49

Can't win then can they!Damned if they don't,damned if they do!

[ozzmosiz] 15/8/2019 15:49

Desperate Months

[monte1] 15/8/2019 15:49

I have to ‘say’ these changes smell of panic and an attempt to kick the can a bit further down the road at Burford Towers.

Just my tuppence worth, fwiw (which is - or should be - apropos nowt at all).

[onjohn] 15/8/2019 15:48

Hope next results don’t have a big legal bill

[nobbygnome] 15/8/2019 15:48

I love announcements like this late in the day. Bears will be panicking and some won't even now until later. So tomorrow morning will be very interesting with a gap up very likely because the MMs will know there are a load of people caught and short....

[onjohn] 15/8/2019 15:47

Rns doesn’t mention napooooo