Burford Capital Share Discussion Threads

[rar100] 01/9/2019 17:45

I think the Russians have spiked our water supplies with stupidsickness, shows on this board now let alone the clowns of Parliament, the yanks got a double dose which was wasted really, they don't need it.

[meanwhile] 01/9/2019 17:40

Now that’s what I’m talking about.

Well done, monte1.

[monte1] 01/9/2019 17:05

I had a steak in a restaurant yesterday served with ‘British beef dripping sauce’.

Mmmmmmmmm

dyor

[meanwhile] 01/9/2019 15:07

Now, come on now, come on, now come on, on.

Why can't you all just get along?

I've provided a common interest for you all to feel a part of, namely 'world gravies'.
Now rally around this.

[winsome] 01/9/2019 10:57

sk, used to give you benefit of the doubt but seems like you and share price have little credibility at the moment. Sensationalist, hypocracy, double standards and one-sidedness with the sole intention of driving the share price down. Do you want me to go into detail?

[sbb1x] 31/8/2019 21:57

Did many buy under 670 yesterday......?

[tsmith2] 31/8/2019 21:06

still talking utter b*llocks..

[rar100] 31/8/2019 19:26

Sweet,

I imagine that BUR are getting their gunpowder together and plotting, (I hope so!)

I don't think much of HL, a lot of folk think they are a con job

I've worked for all sorts of Co's, none are sqeaky clean, in fact I can't think of any field including Govt's that are, most humans are out for their own game and it's a case of everythings fair in love war and business.

I don't count BUR as an outright con, they made mistakes, another thing that humans do best and mostly...

[rar100] 31/8/2019 16:07

Well the mud is sticking like you know what to a blanket if the share price is a guide (it is to me) jeffries last comment was encouraging but they would say that wouldn't they...

[lomax99] 31/8/2019 15:51

Momentum investor:Burford808p Epic code: BUR(Momentum Investor) The shares fell in response to a bear raid, driven by a report by hedge fund Muddy Waters which claimed there were issues with the quality of earnings, that it is insolvent and that corporate governance is poor.In response Burford stated that it has provided audited and clean financial statements since 2010 and detailed investment level data on a cash basis using the same reporting approach. It went on to rebut the attacks on its accounting treatment of various investments.It also stated that it has US$400m cash in hand, that its debt is "laddered" with maturities between 2022-2026; it has no intention of funding all undrawn investment commitments immediately; it expenses all costs rather than capitalise them and produces high operating margins of 84%.Interestingly though, it then responded to attacks on its corporate governance by demoting the CFO, the wife of the CEO, who will become chief strategy officer and pledged to overhaul its Board with at least two new non-exec directors. It has also re-stated its desire to list on the Nasdaq or New York Stock Exchange before March or would list on London's main market if that failed. Directors have also acquired over £3m of shares although they previously sold far in excess of that.This short attack comes at a time when first half results showed pretax profit and eps rising 34% and 44% respectively, both new records with H1 eps of 100p exceeding Jefferies' forecast of just 69p by a country mile. Last year's full year results were only 77p. Crucially, its internal rate of return (IRR) remains high at 32%.After the results Jefferies upgraded eps forecasts from 162 cents to 185 cents (152p) for 2019 although next year's is reduced from 264 cents to 249 cents (204p), dropping the prospective PE to 5.3 and then 4.0.It looks cheap but Jefferies notes it will now face an increased cost of raising new capital while there could be reputational damage, although it's too early to say whether Muddy Water will stick.Interestingly, Jefferies has maintained its £24 price target and while I don't think it will get there any time soon, there should be a bounce from here when the dust settles. We are speculative buyers / strong holders.

[rar100] 31/8/2019 15:18

HL's Clayton on dropping Burford

Clayton said he didn't know whether Muddy Waters was right in its allegations about Burford, but argued the litigation financier had been too slow to react to concerns over its governance and not transparent enough.

Burford had replaced Elizabeth O'Connell, wife of chief executive Christopher Bogart, as chief financial officer following the short-selling attack.

Clayton said the changes were 'welcome, but they are happening slowly and with insufficient impetus'.

'Ultimately, Burford can only shake off a naysayers like Muddy Waters if they allow daylight to shine clearly onto the workings of the business,' he added. 'We feel the company has been found lacking here.'

The manager added that Burford could find its access to capital impeded by the short-selling attack, and highlighted questions over its largest asset, a case against the Argentinian government over the nationalisation of an energy company.

'A meaningful part of Burford's book value rests in this case and the recent collapse of the Argentine currency and its domestic bond market has to be of concern,' he said.

Clayton said that while Muddy Waters had not proven its case, 'questions have been raised that so far remain unanswered'.

hear hear to that last comment...

[rar100] 31/8/2019 15:09

Winsome,

I agree with your comments, I'm holding for now and can wait out this storm but I'd like Bur to be a good bit more pro-active to their shareholders, as in what are their intentions to rectify matters. Saying they love the business and will keep on keeping on doesn't impress me.

Will you be writing/contacting them?

I guess they are fairly busy with dealing with Nasdaq and Co's sueing them etc. and the everyday business, however they do need re-assure shareholders and the markets that they are changing what needs to change and give out some news on their counter measures against the shorters etc. that needs real energy and urgency in my view.

I think Mad foetus was going to write to them with a few demands that I agreed with, really I'm not savvy enough and too busy...( I should be more pro-active too!

[stentorian] 31/8/2019 14:07

BUR's second half of any year is always where the majority of the profits are made.

[steeplejack] 31/8/2019 13:05

The accounting is opaque.Hargreaves will not be recommending Burford to their customers,thus they'll be collateral damage resulting from their divestment. The company needs to get a NASDAQ listing if it wants to clear the air.Until it does,it's likely the stock will continue to languish.

[nw99] 31/8/2019 09:27

Seller cleared then

[devalpha] 31/8/2019 08:00

Another week passes.Interesting as always looking at and listening to everyone's views here...even the short camp.My view's not changed....Bogart & Molot working diligently and rationally in the background while most others do the opposite.History will be the judge, but long term value here will in my view significantly outweigh the short term madness of the crowd, fuelled by the quick buck short brigade.If you've done your homework here, then fortitude comes naturally. The only thing to fear is blatant lies in the accounts, but that's a personal judgement call you need to make based on how much work you've done.Bogart & Molot are clearly taking their time to ensure the next comms to serious owners here, and the market is a clear and significant one. That will come.... just give it time.Block and co fumbling from tweet to tweet while Bogart & Molot work diligently in the background. Sovereign wealth funds are pretty powerful partners not just in terms of funding.Good luck to all long term holders and anyone with a genuine interest.

[newtothisgame3] 31/8/2019 07:14

Burford woes deepen as Hargreaves ditches stake …