Member Info for JammyC

Ian... I posted this to another bb in answer to same question yesterday. Hope it helps

You need to do your own research. However, my view if that with the onset of covid the trend for work from home sped up expedentially with firms being forced into enabling such behaviour. Firms rushed into purchase decisions without being able to fully evaluate options. Loopup did well from this despite being configured for a specialist use case. Investors saw the growth and the SP rerated. Many firms outside of professional services don't require the additional security or voice clarity, or not to the degree that they are willing to pay for it. Everyman and his dog is now aware of zoom so some of the newly acquired customers have churned as a result of finding zoom. The Investors who where chasing covid growth stocks and didn't fully understand the business ran scared at the latest RNS. Thankfully, LOOUPs core customers require and value their offering and are considered very sticky as are not as price sensitive, require high call quality, need the simplicity when used for client facing comunications and demand high security that isn't present in the alternatives. Now at a bargain price due to the markets over reaction and a company that is likely to see high growth not just from the initial offering to professional services companies but also via direct routed calls to all sectors that use MS Teams.

Good post Inlong. I too read his post history and came to the same conclusion minus the smooth. Initially penning a far more cutting but personal retort. I decided against it. There apears a great deal of value here with extremely strong drivers to enable significant growth. Mano and RBGP are 2 others I put in the same category.

Lampedusa... To assume makes an ass of u and me. Please don't present your assumptions as fact.

"but they have fewer clients even in PS sector than in beginning of 2020 (before covid)"

Can you back this up? How have you come to this conclusion?

Bigplonker - Well done, your timing appears impeccable.

Hopefully there will be some upwards pressure on the SP next week as LOOP has been detailed in Stoko's top 20 stocks of 21

Good post TWT.

I hope one of the long termers here had chance to fake a look at Lit - 14% up today.

All the best and a merry xmas

I'm expecting you to lose more than your shirt here. Do you understand what you've bought? I hope i'm proved wrong but my experience tells me this is going to end bad.

That's the craziness of the market for you. If you believe that Burford is a compounding machine and that it can continue compounding its assets at the historic ROI of 97 and IRR of 32 then you should have every confidence that the damage to sentiment created by MW will soon be abated and a high multiple will be once more afforded to the stock. Just this time the earnings will be greater and so should the SP. As you say though it is results that will change opinion and they should be just around the corner with the deployments of 2017 onwards coming to fruition.

I'm slightly confused by your comment regarding consistent EPS growth of 20% - the ROI and IRR I detail above are historic having been calculated from the company's inception in 2009 - to date they have been no one hit wonder, their growth has been consistent over a prolonged period albeit with a degree of lumpiness in yearly returns due to the nature of the asset class.

Also worth checking out is LIT. They are not on the same scale so not really fair to compare but they have a historic ROI of 134 and IRR of 78 over 9 years. These impressive stats will not be maintained as they scale but well worth a look IMO if you believe in the asset class.

Nearly a month old but still relevant and it's written in sentences that make sense, by someone who knows what they're talking about. Hopefully it will add something more than the previous post

https://knowledge.sharescope.co.uk/2020/11/20/screening-for-my-next-long-term-winner-manolete-partners/

Alavib... Let me help in the refocussing of your mind:

Lesson 1 - https://moiglobal.com/artem-fokin-201901/

Accompanying slide pack - https://moiglobal.com/wp-content/uploads/ideas19-artem-fokin.pdf

I believe its the first time the US has had the greater volume. Low volumes though in both markets

Markets are irrational

I've certainly heard it said that the Russians generally like London as it is seen as a fair and impartial jurisdiction. That of course is in contrast to what this defendant and son has said.

I don't really like the case and find if difficult to have sympathy when she has received a house far more luxurious than most could ever dream of. That said, both parties went before the court putting their full arguments before the judge and a judgement was made. That judgement should be enforced with action taken against those who attempt to subvert justice.

Burford have entered into an equity partnership with PCB Litigation who are acting on behalf of the mother. They have expertise in civil fraud and asset recovery across multiple jurisdictions according to their website so I expect more.

Thanks ffc. I didn't see past the first paragraph

Another positive for RBGP is that their Lit fin assets are not accounted for on the balance sheet. Theses assets are expected to be 10's million plus. I think more and also believe the current MCAP to be less than the group's book value. It's a while since I watched their last update so recommend anyone reading this does before taking this as gospel. As always DYOR. GL

Manolete (Mano) - I'm regretting buying this to be honest. It's also tipped by ST in the IC. They have done very well from changing the Insolvency claims model, so as to buy and thus control the claim, rather than fund someone else's work. As said above I believe the addressable market will become enlarged once government funding comes to an end so they are in the right place at the right time. However, so will LCM and RBGP. ************* published an amateurish short attack on them in much the same way as MW did on BUR. The crux was that their fair value accounting did not accurately reflect the state of play. I don't believe any of of and think it was an opportunistic play hoping to replicate what MW did to Bur's SP. Unfortunately, others obviously do as the SP has more than halved. Recent results looked good (earning a further tip from ST) but the SP has since fallen below what I bought (£3) and I fear it may slip further in the short term. In the medium and long term it may be very good value.

LCM - If your still reading, well done :) I recently read in a post that Stockopedia details their book value at 1.5. They have BUR at 1.3. This suggests that Bur is the better value option. That said BUR uses Fair value accounting. LCM doesn't. It books the value of the claim at cost until it is realised. Because of this I think LCM is in fact the better value play. I also think it has huge growth prospects with the 2nd and maybe 3rd managed fund. Bur has the NYSE listing and is the more visible operator. If someone is able (other than an Austrian) to name a litigation funder I bet 9 times out of 10 it is Burford who is named. I think LCM will always fall under Burford's shadow. But I also think they both need each other to educate company's and law firms to the benefits of using litigation finance. With this the addressable market will grow and both will grow. I honestly don't know which is the better buy but plan to invest a third of what I staked in BUR in LCM. Hopefully the news of the 2nd fund will come shortly after and I can watch that stake grow.

I hope this has been of some help and hope you also research RBGP as it seems unfairly forgotten at the moment. That said, if it is a pure Lit Fin operation you want your choice should be BUR or LCM (LIT) IMO.

I'm interested in others' thoughts. I'm here to learn so happy to listen to opposing views and very happy to be corrected. GL

Hi all,

I'm looking to buy in here as think it offers good value, but like Warno01 have no idea when the market may place a higher value on LCM. I hold Bur, RBGP and Mano that order of weight. My thoughts for what they are worth:

Burford (BUR) is the biggest and best. I was very well thought of prior to the MW short and since then has lost a lot of value and sentiment. The NYSE listing should restore belief and numerous changes have been made to strengthen governance. MW has been good from my standpoint as I have been able to buy a strong company with massive growth at a very favourable price.

Rosenblatt Group Holdings (RBGP) is a funny one as is involved in a number of different synergistic businesses, all targeting high margins. At the moment most revenue and profit is generated by RBL, the law firm. They specialise in contentious law in areas that are likely to be in high demand for the foreseeable future. Dispute Resolution, Involvency and financial restructuring, Employment, Debt recovery, Financial crime and Tax. Many more to boot but these are what interest me in the current climate. They have financed a number of there own cases and sold portions of these cases. They have recently set up Lionfish to provide litigation finance for others. The operation is in its infancy and is dwarfed by LCM, who are dwarfed by Burford. One key area is the buying (as well as the funding of other's cases) of Insolvency cases. This is basically what Manolete do and having been doing very well from. It is also what LCM currently do in Australia and plan on doing here. The Insolvency claims addressable market was huge and only likely to increase in size once government assistance ends. Thus their should be plenty of market and a number of operators should be able to operate without significant price competition. The other area RBGP are involved in is the selling of SMEs through Convex capital. This IMO was a very poorly timed acquisition but has meant they have possibly got it on the cheap. We are told that a number of business sales are progressing. With Brexit hopefully son sorted and with the pound being so weak I expect this business to do well. Margins are high and legal work is of course undertaken by RBL. It IPO'd at £1.05, hit a high of c. £1.38 and now sits at 61p. I think it is a steal and should be researched. While not current paying a dividend their policy is to pay 60% of retained earnings. The last full total divi was 6 or 7p! The pay-out is so high because its used as a profit share for partners, rather than only the partners share the profits as traditionally been the case with privately owned law firms. IC's ST likes it and has tipped it a number of times, if that means anything to you. I'm not sure it does to me.

I C&P a post from another forum by one of the more respected and knowledgeable posters, djderry. Food for thought:

I continue to fret about the company's decimated/moribund share price.Not because of its price per se,as you know ,the share price tells one nothing about the company's actual performance.Rather,because I think it makes Burford a sitting duck for an opportunistic bid.I've said it before,I believe that , particularly,private equity will look at the mouth watering metrics,ROIC and IRR.Then,the launch on the NYSE and the regulatory scrutiny that the company passed with flying colours,as we all knew it would.I believe the company is extremely vunerable.Personally,I have no problem with a decimated share price,as long as I know I can enjoy the rewards as the company continues to execute its strategy.In simple terms,we have a $4 billion dollar portfolio on a roughly 50% discount to original investment.And the future returns on these investments will be multiples of that,even on a conservative estimate.I will start to become more comfortable with the sp.at the £15 to £16 level.The company would still not be out of the woods at that stage but ,at least,might be a slightly more indigestible morsel.

It was tipped last week in SCSW. Never expected the further SP increases past Wednesday, but guess US election and vaccine have given it a further push