Burford Capital Share Discussion Threads

[porsche1945] 23/8/2021 10:43

Another dodgy aim listed, jam tomorrow, opaque accounting, U.K. dross company. Something will happen here again soon and they will go to nothing, you just know this is fishy.

[syoun2] 23/8/2021 10:34

I managed to sell on open as a great trading opportunity. I think there will be some retail selling in the US on open & then I’ll take stock if right time to buy back in.

[trident5] 23/8/2021 10:32

Seems extraordinary that accounting standards are written to allow non accrual and non disclosure of these payroll costs.

[lomax99] 23/8/2021 10:29

Well I am looking to top up, but given the propensity the share price has to drift I will wait a while.

[loglorry1] 23/8/2021 10:28

I wonder who the large well caped financial institution is that they have started an anti-trust case against. In my view if the case is strong they may well settle quickly.

I didn't like the update at all today and sold a few at 830p. They need to be much more transparent and generate some cash flow.

[williamcooper104] 23/8/2021 10:27

Think it was GIC (Singapore sov fund)

[donald pond] 23/8/2021 10:23

If I was the SWF that bought in big auto 18.50 I'd be perhaps looking at buying the whole company now. Or a PE house. Got to be tempting

[ramridge] 23/8/2021 10:15

I broke my own rule with BUR. "Never invest in a company whose management you cannot trust."
Last Friday I was sitting on a 10% paper gain.
Earlier today I sold all when the share price was down 7%.
Well, I am moving on with a slightly bruised ego.

[donald pond] 23/8/2021 10:10

I think BUR really needs to focus on having consistent, easy to follow metrics. I'd suggest each update set out for their own balance sheet, level of new commitments, new deployments, cash in and expenses for the period. Then also a statement of current overall commitments and deploymentsAnd then, for non balance sheet investments they need to communicate what BUR is making in terms of income and carry. None of this need imo to be as complicated as they make out

[time_traveller] 23/8/2021 10:03

We had a business update a month before the FY results too, so it just seems to be the norm for them.

[epo001] 23/8/2021 09:56

This seems quite a significant update just 3 weeks before the interim results. Managing expectations?

[time_traveller] 23/8/2021 09:51

I guess the timing was dictated by the realisation that GAAP was a looming necessity, and all that goes with it.

Hopefully the NYSE will be more pragmatic about it.

[donald pond] 23/8/2021 09:40

They are showing a constant ability to shout themselves in the foot though. You would have thought after the MW attack that they would have been more transparent and yet the remuneration news today is significant and new. I'm sure we will see lots of director buys as soon as they are able. Almost wonder if price is being manipulated down for that reason

[catsick] 23/8/2021 09:32

Seems like moving over to a more us centric reporting methodology is much more in line with what they want to do, will also help access a lot more cheaper funding and a US growth rating, also as all the other us companies do they can hide away the gaap numbers in dusty filings and promote non gaap metrics in company presentations

[syoun2] 23/8/2021 09:24

Anyone know if converting to GAAP means means quarterly updates going forward?

[lomax99] 23/8/2021 09:23

Can't quite see that happening. They need to be able to pay to attract, and retain, the best talent.

[time_traveller] 23/8/2021 09:20

I would like to know the formula for employee remuneration to better understand where the % and absolute pay level is headed in future.

[tradertrev] 23/8/2021 09:00

The new disclosure on carry percentages paid to staff and in particular the trend therein is particularly disappointing, as it represents a significant dilution to shareholders' economic interest in the company. We need to know the end-point of this trend and understand why it is has been necessary to keep increasing this percentage.
Not remotely surprised by the fall in share price this morning given this new information.

[lomax99] 23/8/2021 08:43

Yes, 'against a large, financially strong multinational'Good news.

[williamcooper104] 23/8/2021 08:26

It seems to be mostly on one anti-trust case

[houseofpain1] 23/8/2021 08:23

A quiet six months which is disappointing on a short-term view but this will happen from time to time and Covid has obviously impacted. But for those with a longer-term view, the more important metrics are returns (rose slightly) and commitments and deployments (up substantially to record levels bearing out previous commentary re Covid leading to increased litigation volumes/demand for funding). Balance sheet rock solid with $430m of liquidity as at 30 June plus a further $103m post period end.

Additional noise of transition to GAAP unhelpful but the attendant accounting accruals are genuine one-offs.

So longer-term case unchanged, but clearly the shares likely to be weaker near term as this will shake out weaker holders who want profits today!

[1aconic] 23/8/2021 08:23

Am I reading that right? Two hundred and seventy seven million (277m) committed and DEPLOYED to a new investment?? That's mammouth, especially given that it's deployed as well as committed (although I'm baffled how such a large sum could be deployed in full quite so quickly). Surely there has to be a decimal point that my tired eyes are missing?

[lomax99] 23/8/2021 08:18

Perhaps worth a re-post for anyone who has not seen it:Https://traviswiedower.com/

[williamcooper104] 23/8/2021 08:18

When asked why they didn't account for the carry provisions earlier Bur will probably hide behind 1 - our accountants signed it off - yes - but auditors do not prepare accounts, Bur does that 2 - their accounts are riddled with non-GAAP performance metrics; absolutely nothing would have stopped Bur from reporting the amounts that would be payable on a realisation in carry. 3 - why didn't they just make this adjustment or if not adjusted then at least disclosed it when the s hit the fan and the share price was tanked post MW - perfect kitchen sink opportunity Dishonesty and incompetence never a good look

[lomax99] 23/8/2021 08:09

Good that they have up-dated the provisioning, also good that bonuses are tied to cash realisations, if they do not materialise related provisions will be released.Hope they have to pay that full YPF provision!