The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Here's an interview just released with CEO Patrick Moloney:
https://youtu.be/EuIhhP4zb8o?si=PxVG2mdOCuLt_Ook
Job done here. Very tidy return in 3 weeks. I heard their house broker has completely ignored the Fair Values in their latest coverage (not seen it myself) but enough to make me bow out at this stage. GLA.
The fact that he likes the company was enough for me to invest .
Commando - ST doesn’t give a new price target in the article . GLA
Has given it another buy rating today: https://www.investorschronicle.co.uk/ideas/2023/09/19/a-robust-outlook-makes-this-legal-stock-a-buy/
Not sure what time it was posted, in or out of market hours, maybe give the share another boost tomorrow and when it makes it in to the paper edition either this Friday or next.
Unfortuntely I can only see the first part, any subscriber wanna let slip if he gave a target price at the end please?
But remember that's only a 1 year target I believe.
Think it was lower but that was 2 yrs ago.
Im a big fan of Simons. It was him that put me onto this little gem .
Looks like they have paid off all the expensive high yield bridge funding and now going to Bond market where they will get much better pricing on a much better track record. Textbook. Simon Thompson of Investors Chronicle has always been a fan of LIT. Covid got it the way of course but I'd expect him to write soon to at least reiterate his 160-180p (I think it was ?) target price. It is now performing as he anticipated - just two years later due to Covid !
Apologies i missed a footnote. So seems FV around 100+. Not bad not amazing.
Hopefully underpins current valuation. Upside is from more 3rd pty funds and maybe bond going forward.
This is one to hold and let it compound
Hi Gallmat, could you detail your NAV calc please? thanks
Most interesting thing for me was the mention a few times of the reducing competition in this space too. What a wonderful place to be operating in if this is the case with a model like ours in demand!
I plan to hold for a while. They have great roic.
I was moat interested in the bond. More they can scale the better
Exactly as hoped for….plus some! The buyback was a welcome addition which will do wonders for the share price.
Sorry nav around mid 180s. Typo still good
The perfect rns. Far more than i hoped for.
Implied nav nearly double current price.
Dividend
Share buy back for supporting price
Inflows to fund 2.
Discussion of retail bond to expand operations.
I have seen 100s of bad rns on aim. Finally a cracker!
Nice results. Future looks bright.
The share buyback shows them looking after their shareholders with the main aim to grow the SP. Which benefits all invested. Will be adding to my position.
For 43k this morning was my buy incase anyone was wondering, already had a load at 85p avg, but needed somewhere to recoup 70k losses from disasterous GKP trade, should have swictched to here back when it was still around 70p, might take a while but I'm looking for £3 quid eventually and hopefully is gonna get a kick up with the results and fair accounting next week.
I feel much more comfortable holding these than waiting for middle east negotiations to play out, uncorrelated to the economic situation, Chairman with huge skin in the game, great ROIC and a bit of a divi better than most bank accounts, yup I'll be sleeping better tonight.
Agree it is material That is why we rallied. From 70s to here
This replicates the region of chairman purchase.
Just not sure we are going to see a nav of 150
Honestly not that bothered as i like the company and they have good ROIC, i cannot see it going back to 70s where i accumulated the position.
Obvious point: there would be no point undertaking the exercise if the results were not materially different to those under the historical cost convention.
Could be upside might not.
So we can only manage downside.
Just remember burford were subject to short attack due to muddy waters saying their accounting was too optimistic.
There is a good posibility this company will go for conservatism in their policy - they held put on historical cost for long time.
Gallmat - if you look at the companies that have used Fair Value from the outset (BUR and MANO), the Fair Value element of their profits vary but can be very material. BUR's model looks most similar to LIT (funding international litigation in the broadest sense) and on BUR's Argentine case alone the Fair Value was something around $700m profit. Not suggesting LIT's actual numbers will be anything close to that, but I dont think we can rule out the materiality of this until we see it on LIT's results Tuesday next week I believe.
Not sure how dramatic personally.
They had book value of 50m gbp. Add in some good realisations 15m ontop.= 65.
Then 45 at 2x multiple?
The main question is how aggressive is their fair value policy.
The only good thing going forward is at least the values should increase with time as investments progress
The only marker i have is chairman was happily buying at circa 110 when we he started, so i think little downside but not sure on upside
Ever since its IPO in 2018, investors have only seen historic cost accounting numbers for this company. As the avg case takes around 3 years to complete: every set of financial accounts showed what the company was doing a very long time ago.
The financial statements we will see in the next week, investors will see, for the first time: what the company is doing NOW.
That is a huge change in perspective. Apologies for the hyperbole but I genuinely expect to see a dramatically more positive representation of the company in terms of both profit and net asset value.
As ever, please DYOR. This is just my opinion. I am invested but only since they announced the change in accounting presentation.
Looks like people are getting ready for the results.
It will be intersting to see if we get the aim pump and dump on rns.
Hopefully if is strong enough to have people hold
Great string of 100% buy trades today. If you know, you know ! These results are going to very exciting. GLA and of course DYOR.