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Burford Capital Limited (BUR)

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PinkDalek
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Burford Capital Limited (BUR)

#242125

Postby PinkDalek » August 6th, 2019, 3:57 pm

No time to search but if anyone knows the reason for the 17% fall so far today, please shoot me!

simoan
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Re: Burford Capital Limited (BUR)

#242133

Postby simoan » August 6th, 2019, 4:21 pm

PinkDalek wrote:No time to search but if anyone knows the reason for the 17% fall so far today, please shoot me!

Bang!! It's a shorting attack. I imagine a shorting dossier will be released very soon - once someone has filled their boots first, of course.

All the best, Si

Laughton
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Re: Burford Capital Limited (BUR)

#242137

Postby Laughton » August 6th, 2019, 4:26 pm

Muddy Waters say they're going to release a damning report on a company at 8.00am tomorrow London time.
Consensus seems to be that it might be Burford on the receiving end.

jackdaww
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Re: Burford Capital Limited (BUR)

#242142

Postby jackdaww » August 6th, 2019, 4:52 pm

simoan wrote:
PinkDalek wrote:No time to search but if anyone knows the reason for the 17% fall so far today, please shoot me!

Bang!! It's a shorting attack. I imagine a shorting dossier will be released very soon - once someone has filled their boots first, of course.

All the best, Si


==============================

i hope you are right!

:roll:

PinkDalek
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Re: Burford Capital Limited (BUR)

#242153

Postby PinkDalek » August 6th, 2019, 5:23 pm

Thanks for the replies.

simoan wrote:Bang!! It's a shorting attack. I imagine a shorting dossier will be released very soon - once someone has filled their boots first, of course.


Not a shooting dossier then.

Are you tempted to add further (I did notice you doubled on the more recent Woodford news, when I was looking for a thread on here, but it was on a long Investment Trusts and Unit Trusts thread, so I started afresh)?

Laughton wrote:Muddy Waters say they're going to release a damning report on a company at 8.00am tomorrow London time.
Consensus seems to be that it might be Burford on the receiving end.


I did glance at ADVFN after my post.

jackdaww
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Re: Burford Capital Limited (BUR)

#242294

Postby jackdaww » August 7th, 2019, 8:19 am

SP is up slightly to 1133 at 0815 .

no further news?


jackdaww
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Re: Burford Capital Limited (BUR)

#242321

Postby jackdaww » August 7th, 2019, 9:40 am


Dod101
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Re: Burford Capital Limited (BUR)

#242325

Postby Dod101 » August 7th, 2019, 9:46 am

I genuinely do not understand their business model and all the detail they provide does not help me so I have never held it. I sometimes think I should but I cannot persuade myself to do so. I know people have made a lot of money from it.

Dod

Alaric
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Re: Burford Capital Limited (BUR)

#242337

Postby Alaric » August 7th, 2019, 10:07 am

Dod101 wrote:I genuinely do not understand their business model and all the detail they provide does not help me so I have never held it.



I would regard it as essentially the financing of ambulance chasers. They take on litigation and hope to gain by settlements in favour of their clients. What now seems to be emerging is criticism of their accounting method. Apparently they book profits on cases as time elapses. Whilst time brings the day in court ever closer, there isn't certainly about the final outcome, so all the previously reported profit could disappear with a judge or jury's decision.

Dod101
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Re: Burford Capital Limited (BUR)

#242342

Postby Dod101 » August 7th, 2019, 10:14 am

I assumed that that was the essence of their business but I had not realised that how they book the profit could be controversial. If you are right then that is the same thing that has brought a lot of grief to contractors, as we all know.

Dod

yorkshirelad1
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Re: Burford Capital Limited (BUR)

#242351

Postby yorkshirelad1 » August 7th, 2019, 10:28 am

A salutary lesson on investing :-)
Happily, I bought some (10k) at £3, sold 40% at £19.40, and sold 30% at £16.
Can't be too unhappy with that. And inside an ISA too, so no CGT.
Share price tanking at the moment....

yorkshirelad1
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Re: Burford Capital Limited (BUR)

#242358

Postby yorkshirelad1 » August 7th, 2019, 10:36 am


Alaric
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Re: Burford Capital Limited (BUR)

#242365

Postby Alaric » August 7th, 2019, 10:56 am

You can read about their approach to accounting here.

https://www.burfordcapital.com/investor ... valuation/

As highlighted by the recent report, that confirms that accounting profits includes cases in progress. Given that a certain amount of confidentiality is going to surround litigation, that gives the directors a lot of leeway to decide what profits should be reported.

A more conservative approach would be to only defer the expenses of cases in progress, not reporting profit or loss until litigation is over.

More bad news for Woodford, given various holdings in Burford by the Woodford funds.

nmdhqbc
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Re: Burford Capital Limited (BUR)

#242368

Postby nmdhqbc » August 7th, 2019, 10:58 am


jackdaww
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Re: Burford Capital Limited (BUR)

#242370

Postby jackdaww » August 7th, 2019, 11:00 am



================================

now down to 633.

how does a 3B company become a 1B company in a few weeks ?

can they be wiped out ??

:roll:

PinkDalek
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Re: Burford Capital Limited (BUR)

#242372

Postby PinkDalek » August 7th, 2019, 11:06 am

nmdhqbc wrote:Video from Muddy Waters...
https://www.youtube.com/watch?v=bEBV6rXbqJ8


All videos etc are available via https://twitter.com/muddywatersre as previously.

Dod101
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Re: Burford Capital Limited (BUR)

#242375

Postby Dod101 » August 7th, 2019, 11:12 am

jackdaww wrote:


================================

now down to 633.

how does a 3B company become a 1B company in a few weeks ?

can they be wiped out ??

:roll:


54% down on the morning??????? What is going on?

Dod

PinkDalek
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Re: Burford Capital Limited (BUR)

#242376

Postby PinkDalek » August 7th, 2019, 11:18 am

Dod101 wrote:54% down on the morning??????? What is going on?


Seriously?

Alaric
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Re: Burford Capital Limited (BUR)

#242377

Postby Alaric » August 7th, 2019, 11:21 am

PinkDalek wrote:
Seriously?


Link to the share price chart

http://tools.morningstar.co.uk/uk/stock ... E%24%24ALL


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