Burford Capital Share Discussion Threads

[pck76] 22/6/2023 22:38

New docketJudge Preska tells the parties the trial will be between 26-28 June. Parties will use a chess clock to time their interventions It all looks in line with what Burford's lawyers suggested.

[donald pond] 22/6/2023 22:09

I can see pros and cons about single case reporting to be honest but there's some truth in the idea that a single example is easily understood in a way a quarters results may not be

[maddox] 22/6/2023 22:00

Hi Donald,

Well done for giving feedback. I'm sure a lot of hard work has gone into this first set of reports - so there will be a reluctance to change so soon. On the other hand, it's difficult to achieve perfection on one's first attempt - so hopefully they will be open to further constructive feedback to adapt their approach.

We don't have too long to wait for the next results - 7 Aug for the 1H23 [date changed see below]- again, should be good - so we'll see how well they are received;-)

Regards Maddox

Postscript - the date has changed to 13 Sept:

'Q23 financial results on Wednesday, September 13, 2023, at 7.00am EDT / 12.00pm BST. Management will host a conference call the same day to discuss the 2Q23 financial results at 10.00am EDT / 3.00pm BST. '

[maddox] 22/6/2023 21:44

Hi Rider,

The ticker is LIT and company is Litigation Capital Management (LCM) it originated from Australia but moved its quote to the UK. It is following a similar development pathway as BUR - introducing off-balance sheet Fund Financing - but is much smaller in scale and deal-size - but growing strongly. It is also not adopting (thankfully) fair value accounting and historic performance metrics beat BUR. Lit Fin is a big potential market so the firms tend not to be competing head-to-head for deals.

Regards Maddox

[scubadiverr] 22/6/2023 21:35

Litigation capital management

[donald pond] 22/6/2023 21:16

I did suggest to IR today that they consider following the LIT approach and am confident from the polite reply that, having settled on a "house style" for reporting, BUR will be sticking to it!

[houseofpain1] 22/6/2023 20:55

Good size buy from Jon Molot announced this pm. Lots of reasons for selling but there’s only ever one reason a director buys stock...

[rider75] 22/6/2023 20:52

Maddox, which company is LIT? Full name? Thanks!

[lomax99] 22/6/2023 09:44

Yes, hopefully there will be a strong take-up. It would be even better if we were 'swimming' in cash.....

[extrader] 22/6/2023 09:39

Hence yesterday's RNS re private offering $ 400m 2031 paper

.."Burford Capital intends to use the net proceeds from the offering of the Securities for general corporate purposes, including [Ed.: but not limited to] the potential repayment or retirement of existing indebtedness.."

As I read it.

[lomax99] 22/6/2023 09:32

What is really going to propel the share price is confirmation of accelerating cash receipts. The results/headline returns are great, but it's all manana - show me the money! On the call yesterday CB indicated there was no shortage of opportunities, he just needs the cash to re-invest.

[donald pond] 22/6/2023 09:05

Agree Maddox. It always seems that Bur want to keep the workings inside the black box hidden but a couple of examples shed more light than anything else.

[stentorian] 22/6/2023 09:02

I see that Seb Maril posted Burford's response dated 20 June to Argentina's Letter brief of 16 June. Argentina's reply was to be filed by 21 June - yesterday.

[maddox] 22/6/2023 08:41

Hi Donald,

Agreed, LIT are providing the metrics but preserving the confidentiality of their client - the funded party and the defendant, nevertheless the metrics provided are truly eye-watering. It's pulled-up LIT's share price (still very good value IMHO) and should help BUR's share price too.

Whereas, in contrast, BUR's 1Q23 results garnered little positive reaction - despite being good. I think that there is a lesson there - much easier to understand a single case result - than the complexity of the full quarter's accounting.

[donald pond] 22/6/2023 08:03

LIT have announced the conclusion of 2 big profitable cases this week. I'd like to see Burford copy that approach.

[djderry] 21/6/2023 21:13

You didn't offend me in the least redirish.
Actually,as an investor,I like to see my views challenged in a cogent way.The big risks on BB boards ( on all of them ,not just on this one) is the danger of accepting group think or concensus views without testing each one.Never be afraid to hold a different view that challenges the accepted view.No one here knows the future..We can describe possible scenarios based on the information known but the extrapolation of that is fraught with uncertainty.
Notice that Chris Bogart refused to even accept there were concensus views as to future earnings,never mind comment on them.That's why the company never guides on future earnings.I smile each time a question is put on the matter.
Of course,this ' group-think' bias is closely linked to endowment bias,but I'll leave that for another day.

[syoun2] 21/6/2023 20:49

Got it, understand your statement now. No offence meant

[three black crows] 21/6/2023 20:40

Reddish,That sounds better.This is no startup company. I would describe it as extremely sophisticated in all aspects. Bogart leads a world class company. Take a look at what has been achieved since it was a start up in 2009.If you hold for 5 years, I predict you will have several multiples of your investment,likewise.

[djderry] 21/6/2023 20:10

Comprehensive reply by Plaintiffs in the Petersen matter as to why Horacio Diez testimony is irrelevant,prejudicial to Plaintiffs and should be excluded.

[reddirish] 21/6/2023 20:08

A couple of you have seem to have taken offence at my earlier posting. Yes, I heard the comments about months, and the next couple of years catch up; no surprises there. But I also heard more about an expanding market, and greater recognition of the core offering in the target corporates, and amongst institutional investors. Those are the things that I see as relevant to a 'start up': there is scope for much more growth than I had assumed. And I'm happy to wait four or five years for the company to be rated (as a US company, at US multiples) to reflect this potential. I have over £800k invested in BUR: I'm obviously both interested and engaged. Any share price movements over the next year might be interesting. Those over the next few years could be more than exciting. Have I 'explained' myself?!

[extrader] 21/6/2023 19:07

Hi riverman77,

There'll be a transcript and/or video available on the website

[three black crows] 21/6/2023 18:58

Syoun2,Sensible comments, thankyou

[syoun2] 21/6/2023 18:39

Just to add in his words he expects Argentina court case will be last week of July

[syoun2] 21/6/2023 17:54

Hi, agree I think the call was best yet. Very open & honest IMO.
Reddirish you must have been on a different call to me as I heard him make reference to months, this year & next 2 years in regard to oversized returns due to court catchup. Very clear to me that he’s expecting a bumper year in cash receipts. He also said in as many words that he thinks it’s cash receipts that are holding back the share price.
One particular point of interest for me was that they measure once a year (at the end of June ) if US shareholders are 50% or more & I think he was indicating it would be over the 50% but didn’t confirm that. Only then is quarterly reporting mandatory & more of a defined release calendar communicated. Quarterly reporting is currently voluntary which will continue but he doesn’t know dates yet.
My over sized investment feels like it’s in a very good place. Roll on the rest of 2023 & the avalanche of good news ahead.