Share Name Share Symbol Market Type Share ISIN Share Description
Burford Capital Limited LSE:BUR London Ordinary Share GG00B4L84979 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.00p +0.17% 1,170.00p 1,170.00p 1,174.00p 1,184.00p 1,148.00p 1,174.00p 90,196 16:29:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 59.0 46.1 21.4 51.4 2,393.18

Burford Capital Share Discussion Threads

Showing 22201 to 22225 of 22225 messages
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DateSubjectAuthorDiscuss
18/1/2018
15:21
Shame to see Invesco drop a few shares today,not enough to worry about I feel. Still feel the figures will be better than predicted though so bring on the results
bolstaf
17/1/2018
19:15
Article in the Telegraph mentioning BUR http://www.telegraph.co.uk/business/2018/01/17/backing-david-goliath-litigation-funding-changing/
stentorian
16/1/2018
14:28
I'm liking the chart again, lots of space to move into. Should break 1250 this time imo.
mad foetus
15/1/2018
20:18
I've worked with a couple of the directors of Vannin. They could do ok, though Burford clearly are much bigger. There are other competitors in this space like Therium, and it will be interesting to see how the sector pans out. By moving into portfolio funding, BUR are perhaps ahead of the curve and will perhaps avoid having to competitively bid to get the juiciest cases. You could see it as more competition, or you could say it will raise interest in the sector generally. Whatever, I am expecting BUR to break through 1250 finally in the next few weeks.
mad foetus
15/1/2018
20:08
An interesting prospect? One of the country’s biggest litigation finance firms is considering an initial public offering, which would give investors a chance to share in the spoils of corporate and class action lawsuits. Richard Hextall, the newly appointed head of Vannin Capital, one of the world’s largest and longest-established players in the legal finance market, said that a listing on the London stock exchange was under consideration as the firm expands. “We believe the litigation spend in our markets — the UK, Australia and the US — to be around $20 billion, but third party funding is only 1 to 3 per cent of that, so there is a lot of room for growth,” he said. Https://www.thetimes.co.uk/edition/business/lawsuit-funder-vannin-capital-seeks-public-backing-9xrbn97sx Swishy website! Http://vannin.com/
jonwig
12/1/2018
07:18
Great post, Bestace.
winsome
11/1/2018
22:55
I think the MF article is right on cash flow and the 'black box' aspect, but I don't necessarily see those things as negatives. As it takes a couple of years for cases to work through the judicial system and perhaps longer before cash is settled, it is likely that operating cash flow will continue to be negative for as long as the company is still expanding its investment portfolio. Cumulative operating cash outflows since the company started trading are around £366m. This is net of cash reinvested into new investments, so is more akin to free cash flow. However given the scale of the opportunities in a new and growing market, I think they are doing the right thing in taking on debt to expand and consolidate their #1 status, so the poor cash flow doesn't overly concern me as long as they continue to find investments that can return 60% on invested capital and as long as they have capacity to service the debt. That begs the question how much more debt could they take on, since that is arguably the main limiting factor on how rapidly they can expand. The covenants for the existing retail bonds state "the financial indebtedness of the Group (after deducting the sum of any cash, cash equivalents and cash management investments) does not exceed 50 per cent. of the sum of the Group’s total assets (after deducting any goodwill and intangible assets)" In English, I think that means net debt < 50% of gross tangible assets. At the interims they were at around 24% based on this test, so ignoring any cash movements since the interims they would appear to have plenty of scope to take on more debt. Annualised interest costs are £20.7m, which doesn't feel that onerous to me given the scale of their activities. As far as the 'black box' aspect is concerned, everyone is (or at least should be) well aware of this. It means analysts will be much more conservative than they otherwise would be, which in turn means far more scope for upside surprises. Maybe that lack of visibility makes the share higher risk - I'm comfortable with that but everyone has their own appetite for risk and should invest accordingly.
bestace
11/1/2018
15:16
I used to be a Motley Fool member, and the discussion boards were excellent - among the best. Now that these have closed, I don't bother, and the czeck post shows the quality. (Sorry, czeck, not your fault!) The author talks of "cases" as individual, discrete entities with a binary outcome. He doesn't seem to appreciate that such things formed just 6% of commitments in the recent RNS. (And even a single case isn't binary, there's a whole spectrum about level of damages, awarding of costs, getting paid (!), ... etc.) Possible profit reduction this year is prudent broker speak for setting aside some big gains already part-booked, and being afraid of getting a shock on upside or downside. ~~~~~~~~~~~~~ As I've said, my worry is really about getting another bond issue away in the current climate. I'd like the look of a convertible or even straight equity.
jonwig
11/1/2018
14:44
One big thing I learned in my earlier days of investing is - Never take any notice of share tipsters (especially MF and IC). Pretty much goes for brokers/analysts too. It is impossible to guess earnings for BUR as they cannot disclose their case details. There are 2 main things to hope for: 1. That the level of profit will broadly follow the level of their funding commitments over time. 2. That the solid management team will maintain their track record. One example: in May 2016 MacQuarie had a price target of 344p (roughly the price at the time). Just over 1 yr later they upped it to 1322p. If you had paid any attention to their May 2016 estimate you would have missed out on a lot of profit.
winsome
11/1/2018
14:40
alroy....the best thing any investor can do is learn, research and make their own decisions and think for themselves.
molatovkid
11/1/2018
14:26
i found the articles useful if used along other opinions and where there is convergence of assessment i tend to be more confortable with the investment case! it makes me always laugh tough when to members of the MF team contradict each other- wonder if they reasd each other's comments!
ali47fish
11/1/2018
14:14
Over the years I have lost a fortune following The Motley Fool recommendations of which stocks to buy and to sell. It's best to remember that the article is just an ordinary investors opinion. Curiously, Roland Head (the writer), doesn't seem too convinced with his own recommendation to 'ditch' BUR, highlighted a few lines further down the article where he states..."Burford could be one of the top growth buys for 2018"
alroyrob
11/1/2018
13:51
Appreciate all the comments; I'm a long term holder but thought useful to share following the RNS.
czeck
11/1/2018
13:30
Unfortunately, the standard of MF "analysis" is generally so poor that I just disregard whatever they say. It's surprising how often they mention Neil Woodford to lend credence to their arguments or tell readers how they can become millionaires just by buying a given stock. It all looks like copy designed to drive traffic to the Fool rather than proper analytical journalism.
alter ego
11/1/2018
13:27
The sheer volume of cases now being taken on could be another concern. There surely has to be a finite number of good opportunities. Coupled with increased competition from new entrants suggests future returns might not match historic returns. I'm still a holder but less bullish than before.
riverman77
11/1/2018
13:15
'In my opinion, there’s no way any of us can really understand the quality or type of cases being undertaken by the firm. So any shifts in future earnings could catch the market by surprise.'I am invested here but I do agree with that statement. However, the caveat is that one can reasonably assume that cases taken on will lead to good returns, based on managements previous performance, which has been excellent. It is a leap of faith though and there is a risk the juicy cases dry up a bit. That's why I've taken profits at times (although unfortunately I didn't have the foresight to invest a couple of years ago so my profits are not that juicy).
hydrus
11/1/2018
13:10
The black box which he lazily refers to is the talent within the organisation assessing the cases. Has he any idea of the number of cases they turn down? I suggest he does some research.
steptoes yard
11/1/2018
13:01
Motley fool just posted this: Fund manager Neil Woodford has made some great stock picks over the years, but few have been more successful than litigation financing group Burford Capital (LSE: BUR). Mr Woodford is a long-time investor in this firm, whose shares have risen by an astonishing 1,000% since 2013. There’s no doubt it’s been a good buy, but my concern is that the risks facing ordinary shareholders may be rising rapidly. Unsustainable growth? Burford has paid a dividend each year since 2011, but it’s not the kind of income stock which attracts me. The reason for this is that while profits rose from $31.5m to $115.1m between 2012 and 2016, this firm doesn’t really generate any surplus cash. All the cash generated by litigation wins — plus much more — is reinvested into new claims, fuelling further growth. This has been a successful strategy so far. Annual profits have risen by an average of 47% per year since 2011, and are expected to have climbed 80% to $207m in 2017. Why I’m worried Payouts from successful cases can take years to receive, so Jersey-based Burford appears to be using increasing levels of debt and private funding to fuel its expansion, rather than accept slower growth. Although this is a valid strategy, I think it’s worth noting that repaying these funders is likely to take priority over shareholder returns if cash ever becomes tight. My second concern is that this complex business is pretty much a black box for most investors. In its 2016 annual report, Burford said that its (then) 64 ongoing ‘investments&rsquo; involved “hundreds of separate claims”. In my opinion, there’s no way any of us can really understand the quality or type of cases being undertaken by the firm. So any shifts in future earnings could catch the market by surprise. Turning point? Analysts’ consensus forecasts suggest that after a bumper 2017, Burford profits could fall by 26% this year. I’d expect profits to be lumpy over time, but I’m not sure the current share price reflects this. I don’t see any reason to invest at current levels. https://www.fool.co.uk/investing/2018/01/11/one-neil-woodford-mid-cap-growth-stock-id-ditch-today/
czeck
11/1/2018
10:28
Starting to realise the significance of yesterday's RNS, particularly the on balance sheet commitments have gone $226m to $698m in 6 months (from p6 of the interim report below). As long as they've kept investment quality this should really ramp up the organic growth rate. https://www.rns-pdf.londonstockexchange.com/rns/2196M_-2017-7-26.pdf
alphabeta4
10/1/2018
20:08
Thanks Melody, I can now prove to Barclays they are lying and also that the shares COULD be traded before 8:30am in the mornings! (Not BUR shares I hasten to add) Bestace - yes, a big market drop would effect all assets but since holding BUR they have held steady during general market ups and downs of last 4 years.
winsome
10/1/2018
19:40
win - unless i am misunderstanding you - go to Trades at the top of the ADVFN page, enter the share / date you require....and there you go!
melody9999
10/1/2018
19:26
winsome - not sure about Burford's share price having zero correlation with the markets. I think it would be more accurate to say their financial performance (as opposed to their share price) has low (but not zero) correlation with the wider economy, but if the market has a mass sell-off I doubt Burford's share price would be immune from that.
bestace
10/1/2018
17:57
Can anyone do me a big favour and tell me where I can get info on trades made on any shares going back a few days or so? My broker messed up and I couldn't execute a trade on time yesterday and I lost quite a bit as a result. They are now disputing the price I could have got at the time.
winsome
10/1/2018
17:30
djderry, as far as I understand, Burford shares have just about zero correlation to market movements. The ideal share to hold (hopefully) during times of volatility.
winsome
10/1/2018
16:57
Thank you for the research.I look upon the RNS as confirming the growth trajectory.Of course investing in a portfolio of cases is not without risk,we all remember the result of combining tranches of property loans with different risk profiles and how that worked out.However,I digress.Overall,happy to hold but would not be adding any more,not because I perceive stock risk but the overall market seems high enough at present.
djderry
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