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I did, sold 20% to trade but has not dropped yet. Just the way it goes and sure I'm not alone!
But im up on Tesco, Easy Jet, Lit Finance to name a few! This year seems to be a bull market so far it seems.
Sorry rushed post, I’m in Las Vegas at the moment!
Yep roughly Renegade, but no o thinks they will collect it full. Will be negotiations to reduce the full amount. But as case progresses the doors keep closing again listing to Bogart.
Another thing to note, they have been funding much larger cases last few years.
See the analytics suggest a target SP Average of £16. Without recent results analysis.
Pennylots, when they loose the Appeal around Oct 2024, the case will be marked up again, as the value increases with each milestone according to Bogart, also with the huge amount of cases outstanding, which is evident in the brilliant document showing all cases either concluded or outstanding since inception. It can easily be replicated and more.
When they loose the 2nd circuit appeal, it will go back to Supreme Court, for them to reject it again, but will take a few more months. They will just keep dragging it out.
When it does go to settlement, this will then take 3-6 months to thrash out a deal. Then payment schedule Zzzz
I’m really excited about the existing portfolio.
My guess is - 2025 Q3-Q4
But I think case progression will keep the growth for now and back log still coming through. We are producing a lot of CASH, cash is king! Believe only 6 cases settled in Q4, so much more to come.
With regards to Argies negotiating - IF Burford are able to cease something earlier, like YPF shares owned by the government (not the provinces) or an embargo on any number of things that will create a greater impact if they don't settle, then they will settle sooner!! Like they did with Repsol.
Remember a fund would have to outsource the enforcement, all in house for BUR with the most experienced team in the business.
I have already read some very poor analytics on Burford's recent results, both mentioned they feel revenue will decline by 20% for the next 2 years. What a load of rubbish, this is Ai 'Simple Wallstreet' absolute rubbish that people read. Sure, people will put the research in to see that Burford is a compounding machine and this is just the start, I expect 2024 to knock the socks off 2023, we still have A LOT of back log to work through.
InvestingPro Insights
Burford Capital (BUR) has demonstrated remarkable financial performance in its recent earnings report, with a notable surge in net income margin and consistent portfolio growth. Here are some insights based on the latest data from InvestingPro that investors might find valuable when evaluating the company's current position and future potential:
InvestingPro Data points to a strong market capitalization of $3.08 billion and an attractive P/E Ratio of 5.25, which adjusts slightly to 5.2 when considering the last twelve months as of Q3 2023. This low earnings multiple could suggest that the stock is undervalued relative to its earnings potential, aligning with the company's reported earnings growth.
Take it up with the SEC who approved the process 505.
It's a BIG case and they have to account for it. good to see the cases are churning around that's for sure.
Argies will pay, will just take 1-2 years after they have exhausted the appeals process - standard.
Strong results, I like the shareholder letter - very positive stuff.
Yep, the UK market is a wet duck as we know. Low valuations and volume.
Looks like shorts are in control and low investor confidence with the major shareholder selling down, just before the results.
Seems like a good opportunity to top up.
Looks like shorts have closed further in the US, they made the most of SP drop from top investor selling a portion to fund another adventure (they had made 100% from initial investment). Major II Short sellers look at a lot of data and analytics, they must think it’s time to reduce.
Goodbye Amica, we will miss you. You’re correct, guess Burford is not for everyone, seeing it going up and down on courts being closed and them naughty Argies not paying. Feel awful for you, hope it won’t take long to get over the stress of it all.
"We are having a blow out year"
400 Million Doller in Cash from Non YPF cases, from increase cases pre 2020.
TOP UP
Show me a 'growing company' where demand outweighs earnings, where they don't borrow to fund growth.
Pennylots you have admitted to being wobbly before when SP dropped, looks like you have fallen off the chair with them comments. Just a 10% drop in short term , prob combination of general market and possible perception the audited results are slightly late now and there could be a problem. But they have published results in 3rd week of March previously and all
Stocks drop time to time. I think it was shorts in previous days on low volume, now generally market seen 10% drop it’s mixed feelings. I will be topping up for sure.
Wow 1.7M shares traded in US. With UK 30k if you’re lucky in a day wow, what a difference. UK stock market is broke these days.
Could do with some good news soon! Will be adding tomorrow.
Looks like it’s being shorted to me.
Taken 1M shares to drop it, must be resistance now or shots have added. BUR seem in no rush to publish results early.