Burford Capital Share Discussion Threads

[wardy333] 30/8/2019 09:51

Watching the trades A/Ts blocking any real movement upwards.

[mtweed67] 30/8/2019 08:29

Dead cat bounce today to catch the suckers trying to short the HL news.

[tsmith2] 30/8/2019 08:24

surely, TW with egg in his face with the muddywaters 8:15am tweet

[wardy333] 30/8/2019 08:22

Early doors looks stronger today.

[darius12] 30/8/2019 08:07

its not gonna finish blue corrado. You make some, you lose some.

[1corrado] 30/8/2019 07:59

I go 60% to finish bleu by the end of the day.

[yidarmytom] 30/8/2019 07:35

good riddance

[minerve 2] 29/8/2019 21:48

Burford Special Brew

Minerve sells

1st round c1850
2nd round post Muddy c850

Don’t mess with the best.

[williamcooper104] 29/8/2019 21:32

The dividend is peanuts - nobody has bought the stock for income Not having sufficient cash for growth investments is a good thing

[topvest] 29/8/2019 21:26

I guess the big question is whether they have sufficient capital to fund their growth and pay the dividends? I suspect its not as easy as it once was. This is heading towards a valuation based on book value...which is where it should be anyway!

[williamcooper104] 29/8/2019 21:16

Very frustrating Repeatedly making the completely false claim that you pay tax in advance by mark to marking ahead of cash 1 you usually don't pay cash on Fair value movements 2 Bur is in Guernsey so doesn't have to worry too much about tax 1.2x book value v IMF at 0.9x doesn't exactly shout screaming short (even if Bur may we'll fall further, it's not hugely overvalued at current levels) Any idea why TW sent out a potentially market manipulating tweet last night??

[bestace] 29/8/2019 19:38

An update in the Epicenter/ROI Properties litigation brought against Burford last year.

Having been set a deadline of yesterday by the judge to "show cause in writing why the Court should not dismiss this matter for failing to commence arbitration", the plaintiff filed an update just before the deadline expired.

Selected extracts:

"...Plaintiff has been working diligently to obtain the necessary funding to proceed with the arbitration through litigation funding companies. The costs of arbitration are substantial, including a several hundred thousand dollar filing fee... Plaintiff believes that it will have the necessary funding to proceed with the arbitration by the end of October 2019.

...

"5. In order to proceed with the London arbitration, Epicenter needs litigation funding due to the enormous expense of doing so. Prior counsel informed me that the London arbitration deposit alone is hundreds of thousands of dollars. And, prior counsel advised that the anticipated costs and attorneys’ fees to prosecute the London arbitration exceed one million dollars.

6. I have spent the past several months diligently working to find a reputable litigation funding company to enable Epicenter to prosecute its claims against Burford, while simultaneously working 80 hours per week to save my company and everything my family owns that has been jeopardized by Burford’s conduct that led to this dispute.

7. Since April of this year, I have been engaged in discussions regarding this case with several well-known litigation funders, including Bentham IMF; Stifel, Nicolaus & Company, Inc.; and Cedar Glade Capital, LLC.

8. Epicenter’s dispute with Burford has significant history and complexity such that it requires extensive discussion with potential funders to evaluate the case. The task is further complicated by the fact that the relatively nascent litigation funding universe is small. As a result, some litigation funding firms I contacted ultimately declined due to conflicts. For example, one of the litigation funders was extremely eager to take on the case but ultimately concluded there was no way to clear conflicts given that one or more of the top executives had first-hand knowledge of the case and could potentially be called as a critical fact witness.

9. I am firmly committed to moving this litigation forward promptly. I have also recently been provided names of other litigation funders that do not appear to have conflicts. These funders could be a good fit to support and finance the litigation of Epicenter’s claims against Burford through judgment. I have also been in talks with another law firm that would handle the arbitration on contingency. These discussions are ongoing, and I am working to see these discussions through and move this matter forward in arbitration."

[qruz] 29/8/2019 18:53

HL Funds sold out, market hates uncertainty

hxxps://www.hl.co.uk/funds/hl-funds/hl-select/managers-blog/burford-capital-update?cid=halDM84443&bid=345636135&e_cti=7845618&e_ct=T&utm_source=AdobeCampaign&utm_medium=email&utm_campaign=EI206_Select_Blogs_Burford_All_holders_29.08.19&theSource=EI206&Override=1

[williamcooper104] 29/8/2019 18:19

Agree - but if you are marking to market you might not want to volatility

[stewpot3] 29/8/2019 17:52

There seem to be a few bond holders baling out atm,not sure why. Cannot see a scenario where they default on bonds.

[yidarmytom] 29/8/2019 16:36

"Worried it might crash tomorrow morning"

Why would you say that ONJohn when you have a 234p target? Illogical in the extreme mate.

[wardy333] 29/8/2019 16:29

You need to study trading patterns and the way Bots work away your money, still think this will rebound at some stage, but when is the question.