Burford Capital Share Discussion Threads

[nobbygnome] 15/8/2019 17:54

The price after this announcement hasn't even reached the level it was early on Monday morning. So way further to go IMHO. Loads of shorters will cover first thing tomorrow morning after a night to think about it so I expect a further sharp rise.

[mad foetus] 15/8/2019 17:53

It is great news and shows the board and executive team have listened . There is nothing wrong with BUR other than perception issues and it is frustrating that on the question of AIM, getting a US listing and of CB being on the board they took the lawyers approach of explaining why people should not be concerned rather than addressing the concerns. I think as I always have, that the criticism of how unrealised gains are accounted is disingenuous: BUR have done their best to be fair and explain their process Rome wasn't built in a day but this starts the process and in the long term a IS listing will be great for BUR

[sparusty] 15/8/2019 17:48

There seem to be a number of people annoyed that the share price is rising.
You don't really need X-ray specs to see them do you.

Burn baby burn...

[galatea99] 15/8/2019 17:45

No idea what is being said since 4 out of 5 are filtered!
Enjoy! Have a great evening, whatever you're saying.

[winsome] 15/8/2019 17:45

I can't help but feel that no matter what Bur do to please shareholders and no matter how much detail and info they disclose in their accounts they will never convince some that the earth is round or man actually did land on the moon

[compo62] 15/8/2019 17:43

The appointment of Jim Kilman (only one week after the short attack ffs) is not a strategic move. It is a tactical move to show intent and to help in the restoration of investor confidence. I suspect that BUR have already initiated a search for his replacement.

[molatovkid] 15/8/2019 17:34

Galatea, it doesn't matter what you or any of us say. What matters is what the market says, and on todays late action - they like it. Better get ya short closed asap.....

[winsome] 15/8/2019 17:33

galatea, you must acknowledge they had to act fast on this. Finding an ideal CFO would take a lot of time. Or should they have dragging in first available unemployed person at short notice. You can pick holes in anything but you are right that we still need some further clarity on some accounting issues and I've personally emailed them. I suggest others do the same.

However, I suspect today's RNS was just the first of a number to come out over the coming days and that further clarity will most certainly be provided. Why release all the positive developments in one go?

[tracy_moore] 15/8/2019 17:29

Gawd another one LOL. Well done you,now move on don't hang around seeking reassurance for selling too soon.

[galatea99] 15/8/2019 17:24

Sorry to rain on the parade but this RNS goes nowhere near far enough to address issues and concerns around corporate governance and accounting clarity.

Firstly, let's be clear that Jim Kilman, the new CFO, is actually not a qualified accountant. He seems to be someone retired from full-time work but who had never even worked ever as a CFO. In effect, one could even consider him an "insider" through his existing long-standing close involvement with Burford as its "principal investment banker at Morgan Stanley" and as its "senior adviser" since his retirement from Morgan Stanley. He seems to also have numerous other activities and interests, as shown here, so one may actually wonder how much time he has to do the job and how "hands on" he will actually be, in what is still a substantial company:



I also wonder, with his existing close involvement and with Ms O'Connell being still around in a new role and with her husband still in overall charge, whether Mr Kilman will have any real effective independence and whether he will question existing policies and procedures and practices in any meaningful manner.

Secondly, Bogart is intending to move to the BoD "in due course". No date is given, although dates are given for the moves from the BoD of two NED's, Lowe and Middleton (already 85 years old), although again with substantial delays and only in 2020 and 2021. No date is given for Bogart's move and "in due course" can mean anything.

Thirdly, nothing at all is said about anything at all relating to the issues raised around accounting and profit recognition.

This RNS is really inadequate and insufficient. I can understand the relief rally and was happy enough to make a bit of money by buying in straight after the RNS and then selling just before the close but, for me, there are still many questions that remain unaddressed and that urgently require responses.

[qs99] 15/8/2019 17:23

£10 tomorrow then? DYOR

[williamcooper104] 15/8/2019 17:18

Very true - they were arrogant and should have acted easier (not many successful lawyers who aren't) MW need to either shut up or go short again

[wardy333] 15/8/2019 17:17

They tried really hard to force this down today, really hope this RNS has very badly hurt a few people.

[winsome] 15/8/2019 17:17

MW only gets negative tweets now. Trending downwards. The plagiarist of discredited guff is yesterday's news.

[wardy333] 15/8/2019 17:11

Where does the S/P go Tomorrow?

[henchard] 15/8/2019 17:10

If I were an independent non-exec on the BUR board, I'd have tried to poach someone like John Chapman, chairman of Origo Partners (AIM: OPP). Imagine having a guy like this come in and give your company a clean bill of health. That really would do wonders for market confidence.

[dsmith57] 15/8/2019 17:09

Obviously delighted by the RNS but it has to be said that Burford were warned by a lot of people about these issues in the past. They ignored those warnings and allowed a bunch of cowboys to take advantage at the expense of many long term holders. The rise was nice today but it will be a long haul back to the prices that many here bought at.The Board are to blame for bringing this on us all. I only hope that this will be the beginning of an upward trajectory in the share price but Muddy Waters will be back for more I have no doubt.

[winsome] 15/8/2019 17:08

sk, did you see my earlier post to you about Muddy Waters plagerising a discredited Viceroy report?

[scotty666] 15/8/2019 16:55

Bloody hilarious.

[bbtablet] 15/8/2019 16:50

Westham64 - he went long at 3.37p.m. - didn't you know?