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You'd have to be brave to catch this falling knife,
Remember vanquis will be charged £750 to officially address every complaining customer here, good or bad, that's why they are panicking in their boardroom, seriously though I wouldn't put a price on how low this will sink to before a solid bottom is found, when that is found then it's a sit and wait situation for maybe several years before this fiasco gets left behind. Look after your customers well and they will look after you I say.
Gla.
I completely accept that vanquis is not materially affected by the car loans fiasco and only to a very basic financial level.
I stand completely corrected here,
Though they really need to get on top of the customer care side of all this , customers can't seem to get their complaints addressed by the company in a reasonable time frame, though isn't that the same for all these companies who want to do away with customer complaints staff or staff in general, with AI making all this worse, who really wants to communicate with a computer when their electricity ,gas, tv or internet service is down. !!!
These shares could very well be in bargain basement territory, though a 1p 2024 dividend may or may not indicate other problems ahead. ?
Gla
Https://www.moneybarn.com/
This part ! Just tell me what vanquis's liabilities are here, because even they don't know yet. Work that out and you'll have a idea how to price these shares, I'm not saying for one second that they are not cheap now, ! I'm just saying that nobody knows yet what a fair price is for these shares until everything gets uncovered and a clearer picture emerges around it's liabilities, they could be a absolute bargain now for all I know, place your bets and take your chance .
Gla
The reason I didn't buy these shares at double the current share price was because of the fall out from this just really just getting started/ the car loans fiasco, yes another PPI in the making, it's only a matter of time before it's all over the paper's and internet that you can join in a class action from numerous online parties for compensation for your car loans being sold to you incorrectly, that's exactly how the PPI claims started , and then went on to run for probably around 9 years ?
All I'm saying is be extremely careful when timing Vanquis hitting its bottom, nearly impossible in this car loan fiasco situation and when it already has its hands full of other problems, though serious money can be made it you call it's bottom correctly.
Gla
Another thing moneybarn specialise in loaning money to people who may not be able to get loans from the main lending bank's, that in itself may or may not expose it to a higher decree of liabilities as these people would inevitably be more vulnerable to bad practice loans, the problem here is when would a line be drawn under the car loan exposure, ? the PPI exposure is still going on today after numerous years and billions being paid out. a lot to ponder in this companies liabilities
to this new type of PPI, be that vehicle loans or whatever. But with great caution.
Gla
Never been invested here, though even I could see the writing was on the wall around car loans !!! also those car loans could easily hang over any banks with car loan exposure for many years and just like the PPI massive pay outs, though at some stage this bank will be a bargain to snap up, though I wouldn't want to make that exact call. good luck to picking these up cheaply .
Gla
As I said before if milei wakes up and offers some kind of general amnesty for hidden dollars under peoples beds etc then tens of billions of dollars will be ploughed back into the Argentine banks for milei to collect taxes from, if he does this there could be a tsunami of dollars flooding into his banks and making it much easier for milei to dollarize his economy, that in itself will help to stabilise inflation for the ordinary poor people of that country, it would also be the biggest and most important incentive for multinational companies to do business in argentina and pay substantial taxes in argentina, get those hidden dollars out from beneath those hidden places and quicken up this whole dollarization programme. milei needs to encourage those hidden dollars out from there fearful place and into the Argentine banks to earn some interest for those impoverished citizens.
https://www.batimes.com.ar/news/economy/argentines-put-us23-billion-into-banks-signalling-faith-in-milei.phtml
Gla
Oh I see anyone who backs me up here are all part of my gang and made up false accounts or something like that, the sort of thing that trump puts out for for facual misinformation to his believers, jammy if it suits you to think that then you wear that hat on your trump like head, but in the real ordinary normal world people post here and have there individual say on what's being said, respect that jammy, I do even if I have to say it's rubbish or non factual, it's up to that poster to back up there negative assertion about burford if they want to be believed by anyone,
As for your shield therapeutics shares at 60p and now just more than 2p. That's a horrific was blow for you, but own it and don't go taking your moods out on other innocent posters here jammy.
Gla
Rider75 Argentina have officially pencilled in a settlement award of $8.4 billion dollars, believe me around that figure this case will get settled for, Burford acknowledges that we won't collect that top figure of $16 billion dollars,/ I wish,
So some kind of payments plan will eventually come in at around $8.4 billion dollars and believe me Burfords management will rejoice in anything near that figure. At the minute it's politically dangerous for Argentina to agree even that amount but that will hopefully change very soon.
Gla
Jammyc go and get some help mate , don't take your moods out on other posters if you've invested heavily in shield therapeutics at around 60p if I remember correctly and now around 2p , that's life unfortunately, own it, don't take your moods out on other posters here or anywhere, penneylots has been on occasion a good contributor to this forum, though maybe this fall again has triggered some kind of anti burford meltdown, I don't know, but pennylots post are normally worth waiting on.
Gla
As I've stated before with many others here to were our shares might be in several months time , be that £20 or even £26 by Xmas or even next Xmas , but what I won't be stupid enough to say is that our shares will be £100 anytime soon as we've seen posted here by another other out of his mind poster, it takes all kinds I guess,
GLA
Abacus burford can easily accept many more litigation cases than they can currently fund, they accept only around 7% of what they are offered, that leaves around 97% just sitting around waiting on another litigation funder getting offered them, burford get the pick of the very best winnable cases ,that opportunity gives them the strongest chance to win 90% chance, that's nearly a licence to print money here, every year as we've seen Burford wins hundreds of millions of dollars worth of cases approximately $600 million plus or around $2 billion over 3 years as they themselves have forecast and looking at their average past return rates, when Burford raises more money in any bond offerings they are essentially saying to its shareholders that they are pushing ahead with staying in front of their litigation funder competitors and raising th new money to achieve that aim, any new money will always be held to fund the massive amount of new cases that are just sitting there waiting for funding, burford can't be caught without substantial amounts of financing money, they could get a unbelievable offer to fund a guaranteed pay out case/ diesel gate tho of case, easy money, there's loads of these types of case's that need huge amounts of money, thus the need for Burford to hold a war chest of money to fund these massive money making cases, thus the continuous need to raise more and more money, it's the same for the banks, they go into the capital markets to raise money for lending to commercial and private customers, you wouldn't say on a normal basis a bank is in trouble if it borrowed from another bank or institution, it happens on a daily basis, Burford will get to a point one day when it doesn't need to borrow money , Burford is today as big as it is because it borrowed money to fund its case's to this point, if it keeps doing what it does then naturally at some point it's not going to need outside funding, it's essentially a money making machine that can return a IRR of around 20% to 30% per year on our money, our top management Bogart etc have hundreds of millions$$$$ worth of our shares , they don't want to see their personal holding diluted with a share fund raise, they want to raise money/ cash at 9+% interest rate so they can keep 10% or 20% of any gain in our profits made from our cases, that's smart, that's why they are each worth hundreds of millions of dollars ,
Burford is a solid great company worth holding very tightly for a very long time, and at some point Burford will have to start
paying its yearly surplus profits out in substantial cash dividends,
GLA.
Pennylots why on earth would you concoct a story like that, ? " It's a fantasy tail, / RUBBISH" there's been absolutely nothing put out there like that with what you've just stated, " NOTHING AT ALL"
Burfords shares have just fallen along with the USA general market , Apple iPhone sales drop by 24% in China and the big tech stocks / conglomerates blow a fuse, plus you have Warren Buffett stating there's no more reasonably priced targets to buy in America, in other words the market is at its peak where shares tend to sell off somewhat or retreat, " it's healthy" , that tech boom needed bursting somewhat. Plus you have the shorters taking advantage of this well off, nothing to worry about, nothing that Burford has done wrong at all, Burford is fully funded, it wins 90% of its cases year after year in a extremely well calculated process of picking case's in every area of commercial litigation, it's returns can easily find future litigation cases, Burford is sensible staying ahead of its competitors and raising more and more finance to achieve it's dominant position $8 billion according to the industries news home page, Burford is a solid great money making company ,
Let me put it this way ? If Burford offered milei / Argentina to settle our $16 billion dollar award for what we've pencilled this into our accounts for ? Then I'm sure Milei would be quietly celebrating at such a low settlement award, in other words Burford have been extremely cautious with a very low fair value amount pencilled in for our massive ypf case.
So pennylots I believe you might be a little on the alarmist side here at saying it's only a small step for the audited to say Burford is a going concerns, you couldn't get any further from the truth, / $7 or $8 billion of investments and a 90% win rate with these cases ! Definitely makes burford a solid great going company with no concerns unless your carson Block of muddywaters,
Another thing if Trump gets in office, heavens forbid., Well he's on record saying numerous Times America first, he also stated foreign governments must adhere to the American court judgements if they want to do commercial trade with America. So milei might just have to negotiate our settlement award away, I can't see Trump saying Argentina " first " against his own countries commercial interest. Worth remembering .
Burford will at some stage get a substantial negotiated payment plan here. 100% I've no doubt whatsoever.
GLA
Carters your absolutely spot on in your post, I popped into this share for a few weeks around 3/4 year's ago, made several hundred pounds profit and popped out again, that story they repeatedly over many many years tell us is always a brilliant believable information based way of parting investors from their money, it still astounds me how they make it sound like the big mining money is eminently flowing into its coffers, I got out with a profit after I read it's numerous long ago and many years of the same brilliantly believable stories of imminent riches, stay clear if your smart.
GLA
Argentina can turn the ypf appeal into a embarrassing circus with all its neighbouring countries being enlisted into backing there desperate attempt to change preska's original ruling , why on earth would Argentina think this theatrical line up of foreign lawyers,judges,+ other countries backing would change the out come of the ypf appeal result, there's absolutely no chance all that Argentine court drama would make the slightest chance to change the original court decision,
The bottom line is Argentina needs access to the USA massive capital markets, and only respect for our USA court award plus a good Argentine fiscal policy would fully bring about that access,
Ft / Joe miller.
The reason that New York courts can enforce such a judgment is this is where global capitalism is essentially orchestrated from. And if Argentina ever wants to raise debt again, it’s gonna have to do it through New York. If it ever wants to join international markets again, it’s gonna have to do it through New York. And that’s true of almost any large company around the world. And so until laws are changed in Washington, a US federal court is going to have the power to seize assets that come through this city.
GLA
Most of what Burford is doing regarding the attachment of assets is to push and legally pestering / testing milei's resolve and government into addressing Burfords plight in any meaningful way of collecting something from our massive court award, milei knows Burford will be limited to scratching the surface of our court award in asset grabs, so it's maybe just highlighting the possibility of attaching those Chinese currency sawps that will get Mike's attention as we've seen in that article I highlighted and posted, those Chinese currency swaps are a important fiscal instrument to Argentina with them having a stabilising effect on the country's financial stability, now with milei trying to get Argentina into any kind of financial stable position then of course he will be annoyed with Burfords attempt to seize those assets, Argentina typically only pays up after some lengthy considerable pressure is put on its own country's financial stability , so it's Burfords job to do that for us, though as Sebastian Maril has stated Burford would be better placed to give milei some space to help him and not add to his considerable burden on turning that country around for burford to collect its full court award, I completely understand that thinking but that completely conflicts with Argentina only paying up when under considerable pressure. On the balance of what would work I guess Burford may have got this right, they've tried negotiating with Argentina with no result , so it's pressure time in attaching assets that may make Argentina unstable in the eyes of the world.
Thank you for all that information MRMarroc.
GLA
Milei would struggle to Dollarisze his economy without settling Burfords court award, though if Trump gets elected anything could happen , including loaning his old mate from Argentina dollars to settle our court award plus dollars to dollarize his economy, and most likely a negotiated lower court award amount.
Milei already has his work cut out blackmailing the Argentine provincial provinces with their much needed funding money to get them to back his mega decree, that could work ok, though that whole country can't be pushed to much further. Good luck milei your going to need it in bucket full 's LOL.
https://www.batimes.com.ar/news/economy/argentinas-us18-billion-chinese-fx-line-eyed-for-us-ypf-judgement.phtml
GLA.