Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I doubt Preska will care about market ramifications. Whilst probably neatest if it came out over a weekend, I doubt that aspect will be given much thought; it is after all, not her problem. Likewise, I find the 'playing politics' take a difficult one.
But who knows - on both counts. I think we can all agree that this decision is now well overdue.
I don't know enough about Argentina to fully understand this thread or it's suggested ramifications, but posting here in case anyone can offer some more detailed insight. And Sebastian is very good at knowing which way the wind is blowing...
https://twitter.com/SebastianMaril/status/1615034100787576858
Typically, something like two or three times investment plus their initial capital. So if $8m was invested, I'd expect a return of $24-36m. Of course, every deal is different as there are many variables that impact return and pricing.
Yes, i'm not sure where you got that US trading idea from. Burford have been based in the US since its founding. Started in New York 14 years ago (iirc), then set up offices in London, HK, Chicago (through the acquisition of Gerchen Keller) and most recently Dubai. The US public listing only came more recently, but I'd still refer to Burford as a US company or US-based. And yes, most of the staff are based there.
"a very large US litigation funder" is the best clue I can find in the surrounding press articles. Could well be Burford. Could also be Therium. Not sure i'd describe any of the others as "very large", except maybe Harbour, Vannin or Omni, but you wouldn't call any of them 'US based' (because they aren't!).
we're waiting because it's a long and complicated filing. Six months isnt unusual. It's frustrating - certainly, but not unusual. Certainly no punitive damages. And the final amount of any award (if BUR are successful) is an irrelevance. There will almost certainly be aggressive enforcement action taken if necessary, and a global settlement agreed.
hmm, I'm not sure. I dont like the fact that companies like Burford are highlighted in a narrative about "predatory funding" and ridiculous interest rates. Burford don't do divorce cases, personal injury, and all that murkiness and I think the distinction should have been made about the funding of international high value arbitration and litigation and someone trying to recover $90k in medical expenses and finding their way to an ad in the back of the local paper...
I assumed the same. It looks like there have been purchases of 25k shares per day, so I expect that to continue. I hadnt considered that some would be purchased on the NYSE but that does make sense. It will be interesting to see where we finish on the year. It was looking fairly flat until this past week. No reason for it except broader market conditions so you would hope that at some point investors see sense.
I imagine there will be a few comments on social media following/during the broadcast. It is scheduled to Air at ET/7:30 PM on the CBS Television Network, which I think you can watch online and on some UK packages. Let's see how Chris and the team come across. It looks like the channel's Facebook and Instagram accounts are where most "chat" happens....
Argentina to win tonight and lose next week?
I see '60 Minutes' are doing a special on Litigation Funding to be broadcast on Sunday, seemingly from the inside of Burford's offices.
From the trailer, it seems like a total hatchet-job. "Gambling on cases", "trading claims" etc. Hardly the sort of considered and moderate press that the company needs at the moment. The comments on Twitter say it all!
Let's hope that Chris Bogart and the team manage to leave a respectable and credible tone after the tabloids have done their thing.
https://www.cbsnews.com/video/litigation-funding-sunday-on-60-minutes/?ftag=CNM-00-10aab7d&linkId=193935598
Is anyone attending? I cant as I am with clients, but I would like to hear what Bogart says. More particularly, I'd like him to be questioned on the high running costs and salaries of the company at present, and the effect that has been having on baseline profits. High salaries are great, but they do need to correspond to returns!
He's young, but hits all the main points. https://www.themarketminute.co/burford-capital-investing-in-lawsuits/
True. But I haven't held my (hugely overweight) position here since 2015 for an annual 12c divi! I'm waiting for the jam - which I know will come, but my goodness me it's testing me. Since 2015 my position has only increased, and then doubled in size from March 2020. And still we wait.
down around 2% over the past 12 months, 6% on the year (but only because of a brief spike to £8 in Jan) and now weeks in the £7.50 range. Was it Bezos that commented once that he watched the share price go down as the company fortunes were going up? I know "the company isnt the share price and the share price isnt the company" but it is getting a little tedious now. How long before something injects a little oomph to get us to where we ought to be (pre YPF), which I still consider in the double digits...
Is anyone attending the ShareSoc talk next month? Bogart will say that the share price doesnt matter to him and it will do what it does, but given the investment made in investor-facing people internally on both sides of the Pond, it would be good to know if he is at least disappointed by share performance over the past 6 months.
And of course it's looking increasingly likely that Judge Preska's filing will be a 2023 event. So much jam. Not sure I have enough tomorrows. I'd take a little jam today if I can please Burford.