Member Info for Da_Matser

Well I hold both MANO and BUR in equal measure (as well as BUR bonds) and am equally optimistic about them both over the next few years. BUR could realise billions over the next few years. If they are successful with YPF it will be sooner. With directors buying big - unlike Cooklin who sold to "help out the institutions" - I'd say they are fairly optimistic too.

And as long as all proposals are voted through

Mr Wilson purchased 10,000 Shares on the New York Stock Exchange at an average price of $7.755 per Share.

https://www.lse.co.uk/DirectorsDeals.asp?shareprice=BUR&share=Burford-Capital

Yep, I decided to pull the trigger at 607.5p so think I've got a good entry. Still concerned about the fair value in FY21 note 6 (£1.3B) vs the model (£2.2B) though. Can anyone resolve this headscratcher as it's quite a difference?

Simes = Whines

A mini-Woolworths! Sounds great :)

A very positive and well laid out RNS. A solid long term play.

https://www.lse.co.uk/rns/HAT/trading-update-zmse1it6dm2gkb8.html

Thanks for your concern @Simes. But you still haven't told us why you are so interested in a deadbeat stock and why all 94 of your posts have been about CARD. There is only one reason and Rox and everyone else sees through this. The thing is many of us have a brain, know how to value stocks and have limited companies ourselves and don't scare easily because people like you churn out your BS. Just close the short mate before it's too late.

@RoxburyHouse I still buy the neigbours cards and about 100 per year for my customers :)

As a holder of said bonds, I am researching whether the recent fall in SP presents a buying opportunity.

Please shoot me down but in the FY21 report under note 6 it states an unrealized fair value of £1,306m It goes on to state that the YPF assets carry an unrealized value of $1,103m (of this £1,306m) which would obviously present massive risk.

From their presentation on Fair Value and Return Computations, it would suggest an average case takes around 5 years to conclude rather than the 2-3 years I see touted about - not least by Bogart.

Excluding growth and assuming YPF is successful this would provide an average income over the next 5 years of around $300m - well below 2019 and 2020 levels when net income was around $150m. This produces a P/E of around 10 for a risky, lumpy business model that hangs everything on YPF.

With $2B of debt it takes the EV to £3.5B so I just cannot see any value in this.

@Gtx1 Where can I find the deloyed " billions per year" please - notably the $4.8B you mention? FY21 Note 6 says Additions = $673m. What am I missing please? Regarding YPF, individual litigation and arbitration matters operate differently to sovereign debt. That's a good thing as Venezuela, for example, settled international litigation matters even while defaulting on sovereign debt.

Where exactly is the $6B over the next 3 years coming from?

Also what does MW mean?

Bring on the firing squad!

Agreed @MRPoisson. Nobody wants to look at the next ten years. Mr Market thinks he can make a quick buck elsewhere. I've sold some defence stocks to top this up.

Exactly @Eusebius Out with the £5 MP/FP card and in with the 99p CF card. Or are you telling me Mom isn't getting a card this year? Or getting a handmade one?

@simes And in FY20 they did £51.6m net income even with a dividend. Whats your EBIT figure for FY23?

I hope you're right about the divs @Simes Little MIss Hubbard would still be bleeding the company dry, but Mr Darcy seems to actually want to manage the company.
I am not the least bit interested in dividends at this stage.

https://www.proactiveinvestors.co.uk/companies/news/981602/qinetiq-still-preferred-to-chemring-by-jefferies-981602.html

@Wiscos Because every single one of his 87 posts have been on CARD.

@Simes If you really think Card Factory is dead then why are you here? Are you some kind of saviour who feels it’s their duty to warn others about their prophecies?
Please explain why you have such an interest in a deadbeat company.

Thanks for that @Forensic. I also own BUR 6.5% 22's set to mature in August, but I think I am safe with those.

@Olderandwiser When your main headwinds are your own manpower - after recently quadrupling your legal team - I don't think that's a bad problem to have. Cooklin has explained that he does not see cashflow being an issue and today's inflow is reinforces that.
I also look for moat with my investments but what other company do you know that can afford to turn 80% of work away? They are the largest listed insolvency mitigation firm in the UK and as Forensic says, they operate on - and have valuable experience with - their 'investing' model.

I've checked your posts Love. You're just trying to ramp MOON. You picked the wrong horse.

Give it up Love. Who are you working for?

@Peakybinder I can see 55p but I reckon 50p is a stretch. I hope you're right though as I will be filling my boots at 50p and below.