Burford Capital Share Discussion Threads

[devalpha] 15/8/2019 20:04

Another good and well timed RNS. I'm sure there'll be more over the coming days and weeks. On the call last week it was clear that Chris Bogart was listening to concerns and suggestions and he promised to look through these and respond. I mentioned last week that I thought, in time, Burford would emerge stronger than before as a result of the MW attack. My view's not changed. I also like the honesty in basically saying that although they don't necessarily agree with the reasons behind some of the shareholder concerns, they have took them on board as they recognise this will improve sentiment and increase confidence. Out of all the points made in today's RNS , for me the best one by a long way is the confirmed intention to list on a major US exchange. This makes a lot of sense with the majority of Burford business being carried out there.The rest of the stuff is welcome for the purposes of general sentiment and confidence, but in my view will make very little difference to how the business performs. It's more a perception thing. Being a little maverick for me is a plus where people call out convention as questionable. The 4 current directors will have built up a wealth of experience... for me serving since 2009 is a plus with the caveat that they were selected correctly in the first place. Will 2 of these moving on and bringing in 2 less experienced really improve the business? I'd say that's highly questionable but general convention would say otherwise. Does it really make a difference in the CEO and CFO are married if they are the correct people for the roles? Again convention will cry that this is outrageous but when you are running a close nit company with 120 employees albeit with a market cap of several billion, so in effect operating as a big company with a small company culture, is this really that outrageous if you trust the people concerned? Don't get me wrong, I welcome the changes, but only because the majority of shareholders are calling for them, and it will therefore improve sentiment, not because I think they'll suddenly make Burford a better business in reality. Warren Buffet's been criticised at most Berkshire annual meetings for having his son Howard and previously his late wife Susan on the board. Warren and Charlie didn't and don't give two hoots about this, but they're in the fortunate position to have such established and trusted track records that they can afford to ignore convention if they feel that the best decision for the business is contrary to convention. Also the majority of the Berkshire directors have served for years longer than any Burford director, and I suspect Berkshire has been the better for it. Their view is that experience improves judgement. Sentiment will improve though and it's important to listen to shareholders. I like Peter Middleton's closing remarks about listening to shareholders and acknowledging that shareholders are the owners ultimately. How many chairmen make statements like that? Buffet does, but few others. Sentiment will definitely improve as a result of these announcements though and I welcome that along with any serious long term holder here. It's important to acknowledge shareholder concerns and act where possible. Now...when will we get the next update on the calm, astute, legal pursuit of any proven wrongdoing by Block? That will be really interesting.Good luck to all long term holders and anyone with a genuine interest.

[sparusty] 15/8/2019 19:11

Same here buy more.

[jockthescot] 15/8/2019 18:56

If you don’t know, sell and put it in a cash isa.

Bonkers!

[jackdaw4243] 15/8/2019 18:40

I am out of my depth in a car park puddle with this one, do I hold or sell ????

[henchard] 15/8/2019 18:36

gettingrichslow

"Henchard, if you go to the posts as of the evening after the big fall, you’ll see I suggest to djderry that this may well be a good thing in the long run ..."

Yes, I can see you've profited nicely from the MW intervention:

gettingrichslow - 09 Aug 2019 - 08:30:54 - 8570 of 11049 BURFORD CAPITAL :::::::::::::::::::::::::: Litigation Funding - BUR
Well it saved me in the region of £50k Minny while I was lounging around in a swimming pool in Tenerife. Back in now at far lower levels though. Best stop loss I've put on in years!!

[compo62] 15/8/2019 18:34

SK - check out posts #11000 and #11041. Did you forget to mark that task at completed?

Edit: *as

[yidarmytom] 15/8/2019 18:31

at least sk is celebrating Olaf's (or is it Oaf's) A level results lol

[ozzmosiz] 15/8/2019 18:23

Hahahaha 4k made today. Have it my son

[luckymouse] 15/8/2019 18:22

'I', 'I', 'I'...
- its ego

[compo62] 15/8/2019 18:21

SK has gone into copy/paste meltdown

[blusteradjuster] 15/8/2019 18:15

Notice how the share price gang went quiet after the RNS blindsided them.

Quick catch-up meeting with the Muddy Waters crew and they’re back with a new strategy.

That strategy being discredit the new CFO.


These 2-bit schmucks are so transparent.

[sweet karolina2] 15/8/2019 18:15

Nice that BUR has finally started to do what I said it should do from the outset. No mention at all of MW or its response - great, again what I said it should do. Maybe the lawyers have finally realised that acting like lawyers is what got them into this mess and they have finally decided to try to act like credible businessmen - long way to go on that score but all long journeys have to start somewhere.

Now just clear up the little matter of the 2013 Napo case that was booked for $15.8m and there might be some breathing space to implement the changes properly.

One other minor issue. How long have these changes been known about ie were most recent PDMR buys done on unreleased price sensitive information?

[gettingrichslow] 15/8/2019 18:15

Henchard, if you go to the posts as of the evening after the big fall, you’ll see I suggest to djderry that this may well be a good thing in the long run, and I think that is what is slowly playing out now. SweetK has gone AWOL. That tells its own story!!!!

[traderglt] 15/8/2019 18:11

Why change if there was nothing wrong ? There was obviously something wrong !

[traderglt] 15/8/2019 18:10

Made changes and a dual listing - what a surprise lol

[henchard] 15/8/2019 18:08

gettingrichslow,

"BUR have now initiated comprehensive changes."

Are you going to lead the round of "For he's a jolly good fellow" for Carson Block in achieving so much for shareholders in just 8 days?

[yidarmytom] 15/8/2019 18:02

he's currently at a meeting of the flat earth society

[gettingrichslow] 15/8/2019 17:59

Come on SweetK, where are you???
😂😂😂😂8514;😂ԅ14;😂😂;😂😂😂😂
28514;😂

[gettingrichslow] 15/8/2019 17:56

Well well well. So after all the intensive posting from SweetK it turns out BUR have now initiated comprehensive changes, with MORE TO FOLLOW, according to the RNS. Not one of these changes are the actions of a company that is fraudulent, quite the opposite.
So, time for an apology I think SweetK??? Are you big enough to admit you got this all wrong? Maybe your critical analysis skills need improving????????

[luckymouse] 15/8/2019 17:56

One reason that was never put fwd by either side is that the reason they maintained the original IPO structure even as it grew was because the CEO loves his wife and wanted to protect her.

But hey, if you look hard enough you shall find what you seek...