stevensfo wrote:Crikey, it's like having young M.Waters and young Burford at the back of a classroom in a Primary school.
It is rather.
It's now clear, if it wasn't before, that Burford's stated profitability relies on a handful of "large" cases going well and also that it reports profits as real when they are still speculative because the litigation is unresolved.
It's not the mirror image of the indemnity insurers of those who Burford would take cases against, that if their accounting was prudent, they would set aside provisions for claim settlement and only release them if the claim was successfully defended or they were able to settle for less than the provisions.
I'm not sure it's that clear. They provide finance not legal services as such. So surely they can book revenue once the legal team (who I believe will be from different firms) they have financed have committed to that finance?
Yes I have a BUR position. I've have profited from selling on their shares in the past. Just wish I'd not listened as hard to the LTBH people on here as much, then I'd still be quids in, as I would probably have sold another chunk on earlier this year!!!
A bird in the hand etc. etc.
My current holding has a book value of £1980, and a market value (now) of about £1000. I may attempt to sell about half of it today.