Burford Capital Share Discussion Threads

[yidarmytom] 16/8/2019 09:34

Ok they reduced their short position massively and took profits - if they are so confident in their arguments they should be increasing it

[chimers] 16/8/2019 09:33

Stock Markets closed guys take a day off.
Massive cyber attack.

FTSE100 trying to uncross it for about the 20th time

[johnwig] 16/8/2019 09:33

The Americans believe in and use "lie detectors" in their criminal justice system although there is little proof of their reliability. In the UK (as far as I know) they are not used thus.

Qverity would not be given much credence in this country....

[podium] 16/8/2019 09:25

Indeed, they base their shorts on the back of misleading sensationalist reporting. How many times will people be suckered along by MW's mode of operating is the question. I'd suggest this latest is a means of them extricating what is left of their position. Lots of PIs were burned yesterday by following their coattails.

[henchard] 16/8/2019 09:23

Today's report, which some people evidently haven't read:

August 16, 2019
Behavioral Analysis of Burford’s Response Indicates Significant Deception
Muddy Waters Capital LLC remains short Burford Capital Ltd.

MW reduced below the disclosable threshold of 0.5% and don't have to disclose exactly how much they're short as long as it doesn't go back above 0.5%.

[podium] 16/8/2019 09:20

Analysis that only views responses (an in the loosest of terms) rather than what those responses were being made to is deceptive in it's own right. As already noted, MW and Qverity have a prior relationship, and trotting out reports to please a client is part of Qverity's business. That MW couldn't come back with their own counter and instead paid for more innuendo is telling.

As for the 'these guys are impressive, look at their backgrounds' attempt to provide some weight to the analysis; I've seen many AIM boards filled with 'impressive' people with great backgrounds, who achieve nothing. How impressive were they actually.

[williamcooper104] 16/8/2019 09:18

They claim to now be short again

[epo001] 16/8/2019 09:11

Henchard's a renta-troll, look at the posting history.

[yidarmytom] 16/8/2019 09:10

To patriot's point, given MW are so bloody opinionated about BUR and have employed behavioural analysts to rubbish the Company again, why did they close their short position???

[gettingrichslow] 16/8/2019 09:09

Is it hard to disagree?? We already know that one of their conclusions (that Burford were unlikely to be serious about a dual listing) has already been proven incorrect. Similarly about board changes. So far, so wrong!

[steeplejack] 16/8/2019 09:08

Concerns about Burfords' accountancy procedures will be a drop in the ocean compared with the tsunami looming at General Electric .

[henchard] 16/8/2019 09:04

Re. Berenberg's view that "the report's authors appear to be credible and have impressive backgrounds in the field of detecting deception,"

it's hard to disagree:

[buywell3] 16/8/2019 09:01

Surely the trading irregularities issue being investigated is NOT the cause for the 250 to be closed or 100 ?

It is on AIM

[brexitplus] 16/8/2019 09:00

Henchard, you are already behind the curve. Discussed hours ago.

Please try to keep up. 2 out of 10 for the italics. Poor.

[brexitplus] 16/8/2019 08:58

Personally, I think Jim Kilman a very good choice for “for up to two years” since he is already up to speed with the business. This will allow recruitment of the best person as a permanent CFO, and restructuring of the BOD, without distraction.

Overall, I think the RNS very good. I’m not sure what Overity will make of it, other than easy money!!!

[1he patriot] 16/8/2019 08:57

All the daily expert reporters, look at shares rising while doing running commentaries.

[1he patriot] 16/8/2019 08:56

so why did they close their shorts?

[henchard] 16/8/2019 08:54

Courtesy of a poster on LSE:

Berenberg daily comment

>>> View: Muddy Waters has commissioned a third party firm, Qverity, to analyse Burford's written and verbal responses to Muddy Waters accusations. The report reviews Burford's behaviour in response to each specific issue (eg , "Manipulation of Performance Metrics: We show that BUR heavily manipulates these metrics, ROIC and IRR") and finds that management exhibits "aggression, evasion and persuasion" . The findings of the report are obviously very subjective, but the report's authors appear to be credible and have impressive backgrounds in the field of detecting deception.

[brexitplus] 16/8/2019 08:50

Mad, interesting point. Hedging?

[brexitplus] 16/8/2019 08:45

Getting, oh that’s how it works. Easy money!!!😁
28513;😁

[mad foetus] 16/8/2019 08:44

Just looking at the Burford results again, and portfolio financing, which has been around 40% of their commitments over the last few years, is defined as "Investments with multiple paths to recovery where Burford’s returns come entirely from litigation outcomes, such as financing a cross-collateralized pool of a client’s litigation claims".
The wording "cross-collateralized" is key, because it makes valuation very tricky. It doesn't matter if you lose a case as long as the portfolio as a whole does OK. I suspect this was what happened in the Napo funding by the way. But this is the great strength of BUR, they have an approach where they get first dibs on any returns, so the chances of a loss on a cross-collateralised portfolio are pretty low.

[gettingrichslow] 16/8/2019 08:43

B+, it’s easy, if they answered a question it was labelled ‘defensiveR17;, if they didn’t answer it was labelled ‘evasive’;, and if they asked their own questions back it was labelled ‘aggressive217;!!

Laughable really...

[gettingrichslow] 16/8/2019 08:40

Well this is good isn’t it? FTSE storming ahead, Kier up 14%, but I can’t get any prices!!!!

[brexitplus] 16/8/2019 08:40

Podium, I find it difficult to see how behavioural analysis works on phone calls.