Burford Capital Share Discussion Threads

[tnt99] 04/8/2021 13:11

Climb on board the burford express next stop 12 pounds woowoo

[lancasterbomber] 04/8/2021 12:55

Still going up and states haven't opened yet

[loglorry1] 04/8/2021 10:47

How much did you pay for the calls?

[williamcooper104] 04/8/2021 10:42

I loaded up on a few of those too

[lomax99] 04/8/2021 10:36

As usual, on little/no volume to speak of.

[lazg] 04/8/2021 10:33

Looking very good. Got some September 12.5 calls to boost my holding. They should print massively.

[lomax99] 04/8/2021 10:23

Yes, par for the course. If it's up another £1 at close, look out for an RNS tomorrow at 7am.....

[time_traveller] 04/8/2021 10:19

I dunno, par for the course for BUR, but nice to be re-entering the 800s for the run in to the interims.

[chester9] 04/8/2021 09:45

Wow that was fast! Somethings brewing!

[chester9] 03/8/2021 13:16

Best way to think on this one is 5 weeks to interims. I believe the City will want to be onboard after or before the 9th. The update will show continued growth, more cases, more wins, more diversity and YPF diminishing in importance. We know a YPF win/loss is not in share price £9.50 by 9th or if not by 10th. Note as always great results do not always lead to share price moving in a linked path. GLAThu, 10th Jun 2021 12:00RNS Number : 4032BBurford Capital Limited10 June 2021NOTICE OF INTERIM 2021 RESULTS DISCLOSURE AND EARNINGS CALL DATEBurford Capital Limited, the leading global finance and asset management firm focused on law, today announces that it will disclose its interim results for the six-month period ended June 30, 2021, on Thursday September 9, 2021, at 7am EDT / 12pm BST / 1pm CEST.

[loglorry1] 03/8/2021 13:09

"The 92% ROI is average per case, not over 11 years."

Thanks - yes I think I did see this in the big spreadsheet of cases they publish but I didn't look at it closely enough yet. I need to look at that data in detail.

[lazg] 03/8/2021 13:02

The 92% ROI is average per case, not over 11 years.

[williamcooper104] 03/8/2021 12:47

We will have to see at next balance sheet date, but my guess is that it'll be around 750 So if you add NAV growth plus dividends paid out should get close to the total share price return

[loglorry1] 03/8/2021 12:33

Has NAV grown at 20% IRR ?

[williamcooper104] 03/8/2021 12:07

Add in the small divi and you'll get to close to a 20 IRR It is a total pig to value; but it's a valuable pig :)

[loglorry1] 03/8/2021 11:07

"Total share price performance since IPO is about 20 IRR"

I think you mean share price has risen on average by 20% per year since IPO?

It was 108p on October 2009 (IPO?) now 769p. Over 12 years that's an IRR of 17.68%.

Certainly not bad at all.

I'm invested and happy to hold but it's a very hard beast to value properly because of the lumpy returns so the market focuses on NAV rather than earnings multiples.

[williamcooper104] 03/8/2021 10:51

Total share price performance since IPO is about 20 IRR Return on NAV ought to be about the same (will see at next balance sheet date) That's particularly attractive given the downside protection at IPO - if it had all gone wrong (as it did with Juridica) you'd have been very unlucky to have lost more than 10-20 percent and thus it was more akin to a fixed income risk profile (and I sold down my sub-investment grade credit to invest in Bur for that reason) Recent step up in deployment with zero signs of underwriting standards slipping suggests higher near term returns

[loglorry1] 03/8/2021 10:24

Thanks for a few numbera there.

I'm not sure how you get the 50% CAGR from? Growth of what?

"concluded ROIC of 92% since 2009"

Sounds quite good but in some ways it's a bit meh. 92% over 11 years is only 6% a year.

[djderry] 02/8/2021 21:51

Thank you for your contribution Kirkie001.The poster,in response to my post outlining in detail my view of the attractiveness of the asset class and,in particular,Burford's advantages as the leading finance company and my opinion that the company is materially mispriced and underrated requested 'numbers'.
I have asked for clarification.In the meantime I have provided a selection of 'numbers'.I have also asked a question.If one is sceptical and is not comfortable investing in a particular company,would it not be more sensible to go and do some research and find an investment that fulfills one's requirements?
Your view of the tone of my post is noted.

[kirkie001] 02/8/2021 20:03

djderry - is there really any need for that kind of snippy answer? log lorry asked some pretty reasonable questions as he's looking for information....

[djderry] 02/8/2021 19:09

Dear loglorry1,
Thank you for your response.You say you need numbers.Perhaps you could be a little more specific.Which numbers?
Income?Profit?EPS?Profit after tax? Deployments?Realised gains? Fair value gains?
Let me give you a general overview;
Half a billion in group wide income,( over a billion in cash receipts)concluded ROIC of 92% since 2009,CAGR of more than 50% for the last five years,funds generating growing performance fees,operating profit of 248.9 million dollars,profit after tax of 171.698 million dollars,total income ( Bur balance sheet only) 356.973 million,operating expenses 86.589 million,net unrealised gains 143 million dollars ( across 41 different assets).
I could go on.
And tell you the per centage of cases that settle in the company's favour.
Or,the percentage of cases that go on and are won by the clients of Burford.
Or the ROIC on cases that go to trial compared to those that settle.
But I won't.
It's all publically available.
Oh,by the way,I also have a question.
Why not go and find a company you are happy to invest in?

[williamcooper104] 02/8/2021 10:45

Note that it was published 6 weeks ago - so not likely to be moving the share price at moment

[williamcooper104] 02/8/2021 10:44

All sorts of nasty stuff there; max 40 percent of share of receipts to the litigation funder Fiduciary duties from funder to claimant Removing ability of litigation funder to in any way control the actions of the claimant, including threatening to remove funding