Member Info for Redrichmond

https://www.aol.co.uk/news/2018/09/24/this-aim-stock-is-nearly-big-enough-for-the-ftse-100-a-and-can/

One can live in hope.. I just increased my position in my SIPP, I had a could big win on Tilray inc last thursday

2500 by xmas I I hope but definately 2500 at some point...and hopefully more

I have a 10% trailing stop loss just to protect profit. My main driver /foundation of my ISA and SIPP.

https://www.aol.co.uk/news/2018/09/24/this-aim-stock-is-nearly-big-enough-for-the-ftse-100-a-and-can/

Thats the end of that then..stopped out by my stop loss. I wish i stuck to my normal rule of selling if a director leaves for "personal reasons" I Should have sold weeks ago.. I took a risk and failed,hey ho.. Good luck to all who are in this , this will never be a burford, They dont have the staff or experience (as stated in the lower bottom half of results) Will put the remaining money back into Burford Rosenblatt need to keep buying up firms and growing.. maybe in a few years it will be worth something This is still its first set of accounts so there no measurement to go against

Is was only an appeal to the original london ruling...

https://www.arabianbusiness.com/europe/403323-dubai-court-rejects-appeal-over-500m-superyacht

"Dubai court rejects appeal over $500m superyacht

The order imposed by the London High Court on the 115-metre yacht Luna was upheld as part of a legal dispute between Russian oil tycoon Farkhad Akhmedov and his former wife, Tatiana Akhmedov"

"In a statement to Arabian Business, a spokesperson for Tatiana said, “We note the weekend’s decision and are pleased that this court has also seen fit to maintain the arrest of Luna. In line with the UK court order, we will continue to arrange the formal transferral of Luna’s ownership to Ms Akhmedova,” adding that it is “only a matter of time” before ownership of the superyacht is handed over.

Lawyers representing Akhmedov’s ex-wife also said they will soon be able to engage with the yacht’s “many potential buyers” and expect its sale to be swift"

Hopefully onwards and upwards..will pump in more tommorow

This one will go on for ages..

Heres the original Uk court document. Very complex tax wrappers and many holding companies and companies in panama and lichtenstein

https://www.judiciary.uk/wp-content/uploads/2018/04/Akhmedova-v-Akhmedova-full-judgment.pdf

As the boat is held in a family trust I cant see her or burford winning. Lets see tommorow. I hope Im wrong

We dont know how much Burford will gain from this if they win. 50-100 million? Who knows

So far they have ruled against her and have no jurisdiction to interfere with a family trust. Clever bankers/lawyers.

https://www.thenational.ae/uae/dubai-court-to-hear-dispute-over-oligarch-s-500m-superyacht-tied-up-in-uk-s-costliest-divorce-1.758976

IM not sure the mail was correct and as other sources sais it will be held in a
UAE Shariah court. An example here quotes a russian wife out of pure coincidence. Im no expert on this so wait for result

https://legaladviceme.com/questions/233/divorce-and-division-of-assets-in-the-uae

As it has been impounded in dubai and is currently there. Keep and eye on "vessel finder"

LUNA current position is

25.26614 N / 55.28394 E

Scroll down and you can see its in port there

https://www.vesselfinder.com/vessels/LUNA-IMO-1010222-MMSI-538071095

From the mail yesterday. Just another of there cases. The pattern is to go up a lot then track down and then gonup again. Did it at 1000 then again around 1300-1500

I still believe this will get to 2500 by xmas

"A Dubai court will this weekend make a key ruling on the release of a Russian oligarch’s £350 million superyacht, which has been at the centre of a global legal battle over the UK’s biggest divorce settlement since being dramatically seized in Dubai in February.

Commercial courts at the Dubai International Finance Centre (DIFC) ordered the arrest of Luna, which formerly belonged to Roman Abramovich, in February when she put into emirate’s globally renowned dockyard for routine maintenance."

Doh.. "If these are NO or iffy then maybell sell " I meant if the anwser to the questions are negative outcome then maybe sell. Its a long wait till next earnings release.. ..Im top skimming a little bit of profits to buy other US stuff (non legal) only but using BUR to make up any losses /mistakes I make. US stocks are in fire. BUR is my main bread and butter and foundation of my portfolio (70% bur and 30% everything else)

Why worry.. just ask the following (I do this of any share) 1)Future Outlook: What are well-informed the industry analysts predicting for BURs future growth? 2)Past Track Record: Has BUR been consistently performing well irrespective of the ups and downs in the market? 3)Has the business model changed/management changed/law changed? If these are NO or iffy then maybell sell . HOLD .....Give your partner , wife , kid anyone your trading password AND DO NOT SELL What occasionally happens is the big institutional investors are "tree shaking" to push the price down... happened before when it went down to 700ish ,you sell they buy.. then it went up to 1000..This is the trend that has happened 2 times in a big scale. Once at 700 and once again around 1000-1500 Just keep topping up and forget about it Its a moat business thats getting deeper

For me , Well the intial lump sum I invested anyway. This business is solid. I m holding by my estimate of 2500 by the end of this year. I have top skimmed a small amount to invest in other US based shares and they are up 20% in a few weeks US market is crazy. I will then pump it all back into BUR As BUR are cash rich I expect them to buy out other US businesses related to their model. They keep growing and want to move into other areas according to John malone. It easy for them to ingest succesful US companies rather than wait to grow Im looking at their insurance and debt collection side as weak part of the business as the legal side is strong I wouldnt be surprised to see some movement /investment of this side in the next set of results

September is the next update. I emailed investor relations

Recorded 50min call(its on a loop so continues back at start after 50 mins), very informative,talks about petersen, what it is, where it is, talks about new hires and asset management business growth + others and questions from analysts One thing they keep banging on about is unpredictable and timings of returns. They are a buy and hold investor in a diversified portfolio of cases "We are not in position to give guidance on earnings as its so unpredictable. Any analysts giving estimates on earnings are doing that without our recommendation"

Listen to the prerecorded investor call on the 25th. Directors talk through the investor slides on the Burford capital site. replay facility will be available until Wednesday 8 August 2018 by dialing +44 (0) 20 3936 3001 with the passcode ‘162380’.

Basically it loans money to other law firms and takes a cut of the winnings. If you email Elizabeth at investor relations she can tell you about there potential plans regarding ftse 250 etc Patience is the key and having worked in law it takes years and years to win big cases. You need to hold this share for 2 years min to get money.. Even if you invest now you havnt missed the boat. This will climb to 4000 easy They do have other business areas(insurance etc) and new geographical offices/busineses popping up all the world. They are very picky in what cases they choose to invest in (look at the 44 page investor interim report on theor site-its excellently formatted and split by business area- see segmented business accounts later in the report- I wish all companies would report like this) This share will go to at least 4000 , (I have a valuation modelling tool based on grahams rule of thumb )over the next few years as litigation finance increases in use... The business is well undervalued I made a guess 6 months ago that it would drop a little before getting close to 1700 and interim results day then would go 5-10% up to 1900... Thats exactly what it did I looked historically at what happened with this share and theres a pattern..up..up..up It drops a lot around 1 month before full year results ,like 100-300p then rockets on the results.. 3 years this has happened ,it feels like institutional manipulation to push down the price then they pile in..not sure I make 60k yesterday in my sipp and slowly over the years just held and didnt panic on the drops as this is a pattern. I have everything and the kitchen sink in BUR and started from nothing (got in at 489 and dipped in and out untill around 800 where I have held) as I believe it so much in this share having worked in law and seen the astronomical rates of the lawyers (700 per hr). No trade tarriffs will effect this or brexit etc... There will always will be a need for law and litigation finance Tax rules - Most money lent by 3rd parties such as Burford is non-recourse meaning that if the case is lost then Burford lose and the law dont repay.. Thats why their top notch lawyers ensure then can win the case so Burford can get there loan money back plus any winnings..You could check with investor relations if this is true with Burford, I think it is. Although winning case isnt the end. Collecting the money can take years so its a complex business/set of rules You can see on the interim report they have weekly meetings/ monthly meetings etc to stay on top of the risk The rules i check Has the business model changed - No Has any laws changed -No Any negative press- No Any change in management - No If any of these are yes then I may consider slicing or selling They are the king of litigation finance and are growing all the time I have taken a small bet on another law firm Rosenblatt group as they listed 6 months ago although Im down ,this I

Am i mistaken just seen latest rns a few moments ago, neil woodford dumped a few shares yesterday ,holding went from 10.13% to 9.43% ..bet he is gutted after the rise today

Fantastic presentation of accounts, they display in an open way for investors. Wish other companies split it out like this. This may be part of the new IFRS reporting law ,I don't know but its great Its all split out per area of the business and excludes 3rd party companies. I particular like page 11 of the 44 where they talk about divorce litigation (which they dont do) and asset recovery. The discusssion about the yacht is on there and how the press jump on these stories The next release at xmas should push it close to 2500 which i still believe is far undervalued. I estimated 2500 6 months ago but think its 3100 - 4000 at least based on Benjamin graham rules of investing

Heres the 44 page document on the investor website http://www.burfordcapital.com/wp-content/uploads/2018/07/BUR-30307-Interim-Report-2018-web.pdf The 18 page investor slides are here http://www.burfordcapital.com/wp-content/uploads/2018/07/Burford-HY2018-Investor-Presentation.pdf

"The simple fact that we committed half-a-billion dollars to new investments in the first half of the year, historically our slower period, fills us with excitement for the continuing potential of the business." Pile in for the long term all..Fill your boots