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I’m in for the long term. Watch them expand into other areas and more trade supplies like they have said.
We are short BUR. For years, it was the ultimate “trust me” stock. Thanks to a light disclosure regime, the esoteric nature of its business, and unethical behavior by its largest shareholder, Invesco, it turned Enron-esque mark-to-model accounting into the biggest stock promotion on the AIM. This has all recently changed though. Just this year, BUR began publishing more detailed investment data. This data proves that BUR has been egregiously misrepresenting its ROIC and IRRs, as well as the state of its overall business. We have identified seven methods by which BUR manipulates Concluded Investment ROIC and IRR.
BUR’s top management, through their shareholdings (and sales), is in effect primarily compensated for aggressively marking cases in order to generate non-cash fair value gains. Until now, BUR has gotten away with aggressive and unwarranted marks by touting ROIC and IRR metrics. We show that BUR heavily manipulates these metrics. BUR then actively misleads investors about how its accounting for realized gains works. As a result of this deception, we believe investors give credence to BUR’s fair value gains. In actuality, BUR’s net realized returns have relied on a very small number of cases. Just four cases have produced approximately two-thirds of BUR’s net realized gains since 2012. (One of the four outsized contributors was actually a loss a trial, and was bailed out by BUR’s largest shareholder, Invesco, at the direction of Neil Woodford protégé Mark Barnett. Absent the bailout, the case almost certainly would have been a total loss.)
BUR is a perfect storm for an accounting fiasco. BUR’s governance strictures are laughter-inducing. The CFO is the wife of the founder / CEO. Under the best of circumstances, this should alarm investors; however, with a company that consistently books non-cash accounting profits, it is unforgivable. BUR has cycled through four prior CFOs or senior finance managers (none of whom stayed for long). These facts beg the question “Is (current CFO) Elizabeth O’Connell the only CFO who can be relied upon to approve the accounts?”
Great progress. Well done HUR team.
IMO the best news from AGM after the self congratulations would be a plan to move off AIM. Then we will see better value in the share price.
60k shares and in for the long term. Plus a cheeky spreadbet just now
Got £10k in HUR and £10k spare to invest from a windfall last week on lotto.
Planning to buy more here. Would you?
In ISA instead of pension I haven’t got
Is this not the one Burford were backing
https://www.dailymail.co.uk/news/article-6308757/Russian-oligarch-LOSES-crucial-battle-ex-wife-away-millions.html
Another set of excellent results and unprecedented levels of new investment. Saw it touch a rise around 9:30 of 222p at one point. Bound to be some profit taking but doubt it from members here.
I put a spread bet of 20 points yesterday and took profit 8:30 of £1300, that was easy money.
Holding for the long term
I'm no expert but love this share. Fundamental p/e and growth opportunities should see further upside surely. I've always thought this would to go �20 at least. I only sold some to utilise my CGT as the end of the tax year nears. I'm hoping it doesn't go up more in the next few weeks so I can buy back in with next years �20k ISA allowance. I hold Burford in both ISA and share dealing. Wish I had a spread bet on it going up, I was tempted and have made good money on dips before. A �100 point bet would have made �30k yesterday!!
Good results, world leader, new market opportunities, very impressed. I made 30k today on here and took some profits to use the CGT allowance for the tax year. Hoping to reinvest in new tax year ISA. I started at 396p and averaged 695p so obviously happy.