Burford Capital Share Discussion Threads

[tnt99] 04/4/2022 08:36

Good investment by owners obviously they know a good thing when they see it massive re-rate should be coming soon 10 pound plus!!! Woo woo!!!

[loglorry1] 02/4/2022 07:32

Income from operations last year $6m. Into the pockets of employees and directorsas free shares $5.5m.

They are certainly not shy about taking their 'fair' share.

[divmad] 02/4/2022 06:30

Pretty meaningless one, at that.

[trident5] 01/4/2022 19:12

Friday evening after hours RNS

[time_traveller] 31/3/2022 15:40

Burford ever generous with the capital losses for the tax form too!

[williamcooper104] 31/3/2022 12:20

Love AIM with no stamp duty

[williamcooper104] 31/3/2022 12:20

Rinse, repeat: the BUR trading dividends

[lomax99] 31/3/2022 11:57

Usual share price action on no volume (only 70k shares), happy to top up sub £6.50.

[scubadiverr] 29/3/2022 20:32

Transcript of earnings call and recording for those that missed it:https://seekingalpha.com/article/4498454-burford-capital-limited-bur-ceo-christopher-bogart-on-q4-2021-results-earnings-call?mailingid=27190839&messageid=2800&serial=27190839.208&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=27190839.208

[lazg] 29/3/2022 13:06

Burford is active in continental Europe as well. They seem to be expanding there. In Germany, they have the Hausfeld cases and are looking into more. I think they are active in Spain as well.

The Hausfeld cases (Diesel, Trucks) seem to have been going well lately, after some issues.

[houseofpain1] 29/3/2022 12:45

Yup, still jam tomorrow but as expected given the business update last month. Two key points for me: i. Returns on the concluded portfolio remain very high and stable - 93% ROIC and 30% IRR; ii. More importantly, they have updated the model shared at the investor day last year so that total expected portfolio gains are up to $2.2bn (from $2.0bn) from expected realisations of $3.8bn (previously $3.4bn) and expected asset management fee income is up 11% to $400m (from $360m). So, if you believe the model, then there's your measure of the additional jam...!

[donald pond] 29/3/2022 12:36

What's going to be interesting is the degree to which the market is the US or the UK from now. I'd say their focus is increasingly on the US.

[loglorry1] 29/3/2022 12:30

...or the jam will retreat further into the future. Quite a rampy update I thought and light on solid numbers (but previously flagged).

Not sure market will like it much.

[donald pond] 29/3/2022 12:24

Yup, I've done a speed read and nothing unexpected. Some nice commentary about the conclusion of a 2013 case. An awful lot of jam piling up, once courts start ploughing through their backlog we will see some impressive returns imo.

[loglorry1] 29/3/2022 12:21

Results out - broadly inline I would say. Not sure what mr. market will think

[sf5] 29/3/2022 12:20

SP reaction to today's results mildly negative.

[planit2] 28/3/2022 09:34

Could find that processes put in place to clear the case backlogs during/after Covid will mean more efficient courts going forwards.

The acceleration of cases after the Covid slowdown plus the older funds coming into maturity (as pointed out by donald) could provide 3+ years of profit growth that will look very nice to the markets.

This company has suffered from jam tomorrow in an impatient market so if this acceleration happens the share will be rerated.

I like this share for the long term, it's a completely different play than my other investments.

[donald pond] 28/3/2022 09:10

So investors get 10% a year, BUR gets the rest and has invested $60m itself. So it it makes 15% pa BUR will make 5% profit plus the return on the 60 = $24m pa. Nice earner

[donald pond] 25/3/2022 08:33

The FM business all operates on the European waterfall model so no performance fees until the investors are repaid their initial investment. Given the timescales involved that can take 5 years or so. I think we are on the cusp of generating these fees and once they start they should continue as funds move through the vintages

[williamcooper104] 24/3/2022 20:40

OBL use the model - though their managed funds are all private Would of course highlight with Bur just how much of the carry goes to management anyways

[riverman77] 24/3/2022 18:50

The trouble is the fund management business (as it stands) would nowhere near generate enough fees to cover the running costs (litigation experts are expensive) so would be heavily loss making. It only works as part of the wider group.