Burford Capital Share Discussion Threads

[maddox] 20/11/2020 16:26

Yes, and the inherent lumpiness of case realisations, both timing and quantum, will probably more than outweigh currency variations in any reporting period.

[williamcooper104] 20/11/2020 11:53

Agree with all that We are long chaos Currency is a huge issue for my real estate exposures - hence why I've margined my dollar holdings But it's less of an issue with Bur - as the volatility of Bur and growth trajectory outweighs the impact of currency movements

[maddox] 20/11/2020 11:33

There is an fx consideration to factor in. An EU Deal is thought to trigger a strengthening of £Stg - which will hit profit translation. A No-Deal will probably cause further weakening. on balance BUR is probably a hedge against a No-Deal outcome. Also, the business is likely to benefit from business dislocation and contract failures in event of a No-Deal. My thoughts - comments?

[tradertrev] 20/11/2020 08:19

Brexit - Chris Bogart said quite some time ago (around the time of the referendum, I think) that it is definitively not a negative for their business and might be a positive.

[williamcooper104] 20/11/2020 07:23

Bit of an upside to extent that a hard/harder brexit likely to tank sterling as Bur more exposed to dollars which will be worth more to U.K. holders

[williamcooper104] 20/11/2020 07:22

IB charge you for live prices - hence why useful to have more than one account Thanks for that - I only use IG occasionally (used to more for spread betting) - will check for live US prices (HL have started doing that too for free)

[donald pond] 20/11/2020 06:58

I struggle to think of a company less exposed to Brexit risk. Litigation all happens nationally, and so other than the small chance of an increase in disputes if things get delayed and so contracts are frustrated, I can't see any "side", either up or down, to Brexit for BUR.

[old fool2] 20/11/2020 06:54

Syoun2 If you trade with IG you get to see live US prices at no extra charge. Their currency charge is 0.5% for buying & 0.5% for selling. No commission on US dealings and UK £3 per deal provided you put through 5 or more deals US or UK in a month. IG are very good with US shares but not so good with UK

[5mikemike] 20/11/2020 00:07

Any thoughts on how Brexit without deal will affect the share price movement?

[scubadiverr] 19/11/2020 23:15

I guess holding offshore also a possibility although are unsure of tax etc. Something I need to look into as if these 5% arbs keep appearing it will be lucrative. I used to Arb sport bets and a 2.5% Arb was considered a gift and then you were limited to smaller bets to limit risk of a voided bet and attempt to avoid scrutiny to preserve the account. Accounts still never lasted.Only limit here is the capital available to employ.

[williamcooper104] 19/11/2020 22:50

I can tell you the most expensive way - HL - 1 percent fx when you buy and 1 percent when you sell IB give you interbank/very close to it on currency and also charge US dealing fees - which are next to nothing (think actually nothing at moment)

[scubadiverr] 19/11/2020 22:40

C. 5% difference. Would make a nice Arb. Can anyone advise on the cheapest way of holding the US equity in a UK account?

[maddox] 19/11/2020 21:37

Yep, its like playing snakes and ladders - the NYSE hauling BUR up the ladder only to see it slip down the AIM snake immediately on opening.

[scubadiverr] 19/11/2020 21:20

US closed at 10.60, equivalent to 7.99 sterling. Volume of 55,700 so down on yesterday. Still a 2.9% gain on a day we ended 1.9% down.

[time_traveller] 19/11/2020 21:08

I think someone said before the listing that the BUR NYSE/AIM market is pooled in some way ... but the price action seems to indicate otherwise.

[maddox] 19/11/2020 20:28

Good question syoun, I know that it has both MM and automated trading but how in practice it functions tbh I haven't got a clue. Anyone got a good understanding to share?

[syoun2] 19/11/2020 20:09

Maddox, the volume is higher in the US that I realised. I guess none of us know how each system calculates price but one question I have if you know the answer does US have market makers like we do or is it all automated. Thanks

[syoun2] 19/11/2020 20:04

Can anyone tell me if I subscribe to level 2 data do I see US transaction as well or do I need to subscribe to both markets.

[lazg] 19/11/2020 12:35

The volume was 700% of the average for two days in a row, with 230k yesterday and the day before. Thats shy of 2 million pounds, so noteworthy.

[scubadiverr] 19/11/2020 09:53

And it was more meaningful volume yesterday. Hopefully a sign of things to come

[maddox] 19/11/2020 09:01

US close was ~ 780p so up 6p on UK close.

[lomax99] 19/11/2020 08:24

Usual morning mark down, on little volume.

[syoun2] 18/11/2020 22:22

I think it’s a bit more complex that what you’re saying. Anyway a good week or so on price but do remember nothing has changed. I still think we’re a 9 months to a year off from real sentiment changing. I think we have a great chance of good returns ahead.

[williamcooper104] 18/11/2020 21:34

Yep - but the volumes coming from that aren't moving the share price either way