Member Info for Couerdelion

An encouraging read. As a relatively new investor, I've not yet got a handle on the SP behaviour but the scale of the upside makes me a little more comfortable in taking overweight positions when the SP looks relatively cheap.

We can hope....

https://s206.q4cdn.com/737820215/files/doc_financials/2025/q4/2026-02-26-Burford-Capital-4Q25-and-FY25-Earnings-Presentation-FINAL.pdf

Check out slide 30.

I think the name change is a positive but don't see why the ticker needed changing.

From my notes, I believe the company was expecting the CEOL award in mid-to-late February. So we are a little later than anticipated but, to my mind, that only makes it "more imminent".

This time next week, Rodders.

Here I am trying to show that Chile is a country operating cleanly and with low business risk. Does Ur_mum disagree? It's not entirely clear.

A good explanation.

The typical "capital light" business would be DC pensions where most of the key risks sit with the policyholder. In contrast to something like defined-benefit BPAs where the insurer takes on older pension liabilities and carries the longevity and credit risk.

It is also worth noting that PHNX - I'll stick with the familiar ticker - hedge more of their risks than LGEN so can operate on a lower solvency ratio. They lose some of the upside if equities rise.

Not so much of a problem buying here if you're playing on dividend yield rather than looking for trading profits. I added earlier today but I am quite happy for the SP to drift lower and give me an even better price.

Sadly some people don't know anything about Chile and so they invent their own narrative. Here's a useful enough table

https://en.wikipedia.org/wiki/List_of_freedom_indices

Thanks. I did see later that Q3 26 was the expectation and, on the basis of the current price trading at 96% of the offer price, I decided to cash in now.

At 73p, that's around 11% yield you'd be losing but it came with very specific risks. You can find 11% elsewhere or you can put the money into something far less risky and still get maybe 8.5% yield.

Now to the detail. Did anyone see anything in the RNS on timescales?

Indeed. I bought a few more on Monday when the dividend yield was over 15% but a 30% capital gain is an acceptable exchange.

I think we can expect continued upside here though it didn't stop me banking a few £s profit yesterday morning. For now it looks like the market is quite happily digesting the new prices but give it a few days and we will be moving again.

4ever,

Your continued efforts at insulting posters is churlish, tiresome and unnecessary.

It is quite possible to be bullish here and to be realistic about the prospects here and about the quality and timeliness of announcements. It is part of the price for investing in small AIM-listed miners.

Feel free to criticise but also accept that others will have different views and that few people now care about what happened in 2021 and that, in time, few will care about PGMs

Sadly the UK has for many years been home to a sizeable group of Russia/Soviet sympathisers who refuse to accept the reality of what that country does or is. It's a sort of knee-jerk anti-western/anti-capitalist view which you would have thought of limited interest on a site discussing share prices. I think you're seeing something similar these days in relation to Iran.

This is not a post about Trump about whom I hold no good opinions.

The last couple of days has seen an acceleration here. Buyback program is now 85% complete.

A 3% default rate sounds extremely high to me. Just because the label says "Private" doesn't mean that the credit quality is poor. If there is a wider issue in relation to private credit, I suspect this is more likely driven by regulatory concerns around valuation rather than a higher risk exposure. Valuation issues are generally temporary since bonds drift towards par at maturity so the typical "credit hit" is largely one that hits the balance sheet but has a minor effect on cashflow.

Not sure I am a big fan of the new ticker or why they felt the need to change it.

I feel I've stepped into the twilight zone when people are suggesting there is merit in a "blackmail" strategy.

But today's SP movement were more than I could have expected but the price is now looking a little rich for my liking which is why I cut around 25% of my holding today. It's been a very profitable here but time to take some cash back.

Hardly a crash. I'd lined up a pot of cash waiting for investments and I found myself selling as much as I was buying.

Early doors though. This one most likely has a sting in the tail.

Yes it is. What is your interest in BUR?