Burford Capital Share Discussion Threads

[metis20] 18/10/2019 15:04

6.96% transferred to Link Fund on Tuesday 15 October.

[jeff h] 18/10/2019 14:37

Grant Thornton looking for a litigation finance funder to go after Chinese fraudsters.

Burford mentioned, though the article does not suggest it is them that GT are talking to, does illustrate though that even a massive firm of accountants like GT struggle to recover assets and hence the high profits that can be made on such work.

[williamcooper104] 18/10/2019 11:09

Yep - I've sold all my US reits Holding UK domestic cyclicals - UK retail reits/house builders/banks is a good way of getting a bit of hedging

[yidarmytom] 18/10/2019 07:31

The only current downside I see is sterling's appreciation against the US dollar, which has a negative impact on Companies whose majority of revenue is USD but reported in GBP.

[pal44] 18/10/2019 06:33

Trading on Fridays is usually subdue .. but these are interesting times ...GLA

[stoxx67] 17/10/2019 13:59

would be interesting to know what they perceive as fair value for share price.

had a quick skim of report, didn't see an actual share price target.
now that Muddy Waters garbage has been discredited and Burford hopefully take MW to the cleaners for this illegal activity, i do look forward to Burford returning to £15 - £18 in the next 12 months.

[syoun11] 17/10/2019 11:30

IMHO now woodford fund or equivalent is below 5% the threat to price dropping due to fire sale has dropped significantly due to them holding half if not lower than previously reported things will start to move upwards. Still some possible downward pressure from 5% sale unless as i would hope they have i buyer for the remaining holding that will happen off market. Happy Days i hope

[yidarmytom] 17/10/2019 11:12

Next leg-up coming folks yeeeehaaaaa
Tom W
Clerkenwell, London EC4

[williamcooper104] 17/10/2019 11:10

Now almost my only dollar stock (other than Disney) - so in constant currency terms it's up more than the share price

[yidarmytom] 17/10/2019 10:55

This is still in bargain territory, great performance in the last week despite Woody's dumping prior to getting sacked

[billwave] 17/10/2019 09:30

Could be the dust almost settled and the brakes coming off...

[metis20] 16/10/2019 10:31

SNG and DDDD have had TR-1s - all to below 5% and transfers to new managers.

SNG and DDDD share price dropped significantly yesterday and have recovered about half of yesterday's losses .

Looks as if BlackRock having received the shares then moved them on off market speedily? That would explain the share price drops and partial recovery - in the case of BUR almost complete recovery as BUR share price is now above the closing price on 14 Oct.

[bristol97] 16/10/2019 10:08

Hvo have just had one

[mad foetus] 16/10/2019 09:47

I think there was one on ALM, which wasn't his finest holding!

[1aconic] 16/10/2019 09:37

None of the other BUR holdings had TR-1s from Blackrock yesterday as far as I can see. I guess it's just a timing thing so they'll be coming soon.
The TR-1 from Blackrock could be very interesting as it should show the ACTUAL holding left to sell down now rather than just the previous notification position on the Woodford TR-1.

[syoun11] 16/10/2019 09:12

burford updated there major stakeholders yesterday so i would have expected to see the new holder replace woodford when it was removed if they were holding above 5%. Unless there is another notification by blackrock or the other mentioned company then i think they have about 10 million shares(below 5%)

[tightfist] 16/10/2019 08:59

From this morning's FT:After yesterday morning's bombshell announcement that Neil Woodford had been fired from his flagship fund, last night the former star stockpicker quit his remaining two investment vehicles. He resigned from the Woodford Patient Capital Trust and his Income Focus Fund, closing Woodford Investment Management. The move marks the end of an era:

[wardy333] 16/10/2019 08:50

City scum making a living out of this stock , daily swings making them plenty.

[donald pond] 16/10/2019 08:33

I'm not sure how often Burford update that page but in some ways it doesn't matter. The problem was that Woodford was in denial and was clearly going to hold onto everything as long as he could: the best case scenario was a constant flow of redemptions until he shut up shop. BlackRock will have a different approach: they will be open to a trade sale, they may be willing to transfer it to one of their many funds, or they may sell it opportunistically. But they will have a different dynamic to the fish in a barrel death by 1,000 cuts that Woodford was offering.

[tightfist] 16/10/2019 08:32

Hi Dodger,Here is some text from a letter issued yesterday by Link:"(i) we have allocated the Fund's assets into two parts, one comprised of listed assets ("Portfolio A") and one comprised of the unlisted and certain highly illiquid listed assets ("Portfolio B");(ii) we have with immediate effect appointed BlackRock Advisors (UK) Limited ("BlackRock") as transition manager to prepare Portfolio A for the winding up of the Fund. During the period until winding up of the Fund commences, BlackRock will seek to sell the assets in Portfolio A and use the proceeds to purchase money market funds and FTSE 100 index instruments. This process will enable us to return part of investors' cash as soon as possible once the Fund begins the winding up process (please see paragraph 9 below). We believe that BlackRock is best placed to carry out this role due to its transition and investment management, trading and capital markets expertise and experience; and(iii) during the period of the suspension we appointed PJT Partners (UK) Limited ("Park Hill") as a specialist broker to assist us in selling the assets in Portfolio B. Park Hill will continue in this role."My assumption is that BUR being an AIM quotation will be classed as Unlisted and managed by PJT. There were a string of notifications by Woodford yesterday afternoon; unless Woodford sold down their holdings below 5% before yesterday I am thinking we will soon see a string of Blackrock and PJT holdings notifications? Then the truth of the matter would be revealed.....Cheers, tightfist

[wardy333] 16/10/2019 08:31

Woodford sold about half their holding , the rest have been transferred, they held around 20 million so I reckon 9 million or so still to be sold .

[syoun11] 16/10/2019 08:20

if that were the case then the new holder would be be showing as a major shareholder on burford site. They are not. Share holding by woodford/ blackrock are now less than 5% and we’re probably on just about 5% for some tine

[dodger777] 16/10/2019 08:03

The shares haven’t been sold they have only been transferred to another manager. Woodford is below 5% because they have been transferred...the shares have still to be sold by the new manager. Is my understanding of this.

[syoun11] 16/10/2019 07:58

interesting that now woodford has less than 5% no more reporting is required so we may never know when the rest is sold. Burford have also removed them as a major stakeholder from their website