Burford Capital Share Discussion Threads

[5chipper] 06/9/2019 21:52

4th was only two days ago! They are a pain in the backside. See they also increased short in ASC, which seems more sensible

[kemche] 06/9/2019 21:09

Henchard - so deep as to be unfathomable!

[scubadiverr] 06/9/2019 21:06

Not since the 4th according to short tracker

[henchard] 06/9/2019 20:44

Oh, sorry dj, and also what criteria are you using to judge that BUR's due diligence is "stellar" rather than "good", "average" or "poor". And what does "deep database" mean? What criteria should one use to judge whether a database is "deep", just "a database" or "shallow"? Sorry for all the questions but it's interesting what these things actually mean and what is used to measure them.

[5chipper] 06/9/2019 20:34

Gladstone have increased their short position again.

[henchard] 06/9/2019 20:31

djderry

"the Petersen matter is/has been an enormous success.Burford has banked hundreds of millions for a seventeen million dollar investment.Cold hard cash."

You seem to have a good handle on the "granularity" of the business. Could you point me to where I can find the hundreds of millions in cold hard cash from the Petersen case in the accounts/reports? Thanks.

[djderry] 06/9/2019 20:17

I've promised to stay off this board until there are co.announcements but I can't help myself.The amount of mis-information is shocking.Where to begin? Galatea99,you are wrong on almost every point.Burford is the largest litigation funder in the world .Their 'profit recognition'has proven,year after year,to be conservative,whether you base it on a cash basis,as the company prefers,or on a realised/unrealised basis.Please see the cash reconciliations ,year on year.Read the accounts.Seconly,the Petersen matter is/has been an enormous success.Burford has banked hundreds of millions for a seventeen million dollar investment.Cold hard cash.And there's lots more to come from a live litigation.Burford are in the vanguard of a fabulous business.In corporate litigation ,over 90% of cases settle in favour of the plaintiff.Of those that actually go to court,over 65% are won by the plaintiff.And that's world wide.Now,mix in Burford's stellar due diligence,deep database , portfolio finance,etc,etc,etc.With multiple streams of funding and an investment committee that has not been distracted by ,as the Chief Investment Officer termed it,the'noises'in the market,this company is firing on all cylinders.Over the next two years,the bears and the doubters will skulk away.You are not getting our shares on the cheap.

[galatea99] 06/9/2019 19:37

Here's a complete article on Vannin's acquisition by Fortress:

[sweet karolina2] 06/9/2019 19:09

Market leader in being sued by its clients. Not exactly a great business model! PE do not over pay like AIM mugpunters.

[scubadiverr] 06/9/2019 19:04

Winsome maybe dreaming with his 1500-1850p valuation at this moment, but I'm sure PE would be very happy to pay 1000-1200 knowing that the valid points raised are to be addressed and that the unfounded are exactly that. It's the market leader with the track record to make the most of future opportunities. Burford will make a lot of money.

[galatea99] 06/9/2019 18:35

Winsome,

"As I and mf been suggesting on here for a while now - BUR will most likely fall into the hands of PE before getting a chance to list on NYSE, just like Vannin, who were hoping to IPO at $1bn valuation.

I'd expect BUR to go for 1500p - 1850p. As their recent equity raise was 1850p and GBP is so cheap against the dollar I see it going at 1850p. You wouldn't want to be caught with your shorts hanging around your ankles."

The price at which equity was last raised is irrelevant, especially given everything that has happened since and all the areas of concern now revealed. Governance, profit recognition, contingent liabilities, Argentina. A PE firm would, imo, now be extremely cautious about taking on Burford and about the price they would pay.

[williamcooper104] 06/9/2019 18:03

True - but then they never bid on the asset so never did any proper DD For all we know their DD could have led them to think that an earnings multiple wasn't best way of valuing business

[henchard] 06/9/2019 17:59

William, I guess as the PE firm knew the BV multiple before doing DD, it must have been what they found doing the DD that put them off?

[williamcooper104] 06/9/2019 17:54

It was also trading at much higher BV multiple when previous PE firm looked at it

[williamcooper104] 06/9/2019 17:47

Could see a PE bid - but cannot see that at 3x book value (Fair value adjusted book value) Fortress are not known for over-paying so doubt they paid a huge multiple of book value

[sweet karolina2] 06/9/2019 17:45

Previous PE firm that looked ran for the hills when it did DD.

[meanwhile] 06/9/2019 17:35

winsome,

you may have missed this, but the current price is around 700p.

[winsome] 06/9/2019 17:27

As I and mf been suggesting on here for a while now - BUR will most likely fall into the hands of PE before getting a chance to list on NYSE, just like Vannin, who were hoping to IPO at $1bn valuation.

I'd expect BUR to go for 1500p - 1850p. As their recent equity raise was 1850p and GBP is so cheap against the dollar I see it going at 1850p. You wouldn't want to be caught with your shorts hanging around your ankles.

[eentweedrie] 06/9/2019 16:21

george are you simple? or at least a little backward?

[galatea99] 06/9/2019 15:57

"Litigation funder Vannin to be bought by Fortress Investment Group
Financial Times"

[chimers] 06/9/2019 15:57

Awwwwww jeeeesus man ...do you own a cat and has it died and do you keep it in your back pocket?

What a stink dude!!!

Stop it with the farting already ffs!!

[yidarmytom] 06/9/2019 15:55

We all know what’s coming, hold those shares folks