Ripley94
08 Aug 2019
Double Bottom bullish signal Thanks Eadwig… Looked like a gap this opening a spread of minus 13% on l s e chat site? Maybe a mistake.
Eadwig
08 Aug 2019
Double Bottom bullish signal Ripley94: Maybe has credibility what did you think ? It is going to take an independent forensic accountant to sort it out, I guess. That will take months if not years. The guy on radio 4 from Muddy Waters put all the bad sides, pretended that the auditors simply sign off on company accounts and don’t test them and everything he said was to support his case. As you would expect from this type of group.
Ripley94
08 Aug 2019
Double Bottom bullish signal Radio 4 !! Whish I had listened might of learnt something. Maybe is credibility what did you think ? I’ll do nothing as I’m out of deapth I fell. Watch and learn from it. ( wonder why company did not come on but maybe a wise tattic )
Eadwig
08 Aug 2019
Double Bottom bullish signal Ripley94: So you think the pull back yesterday last hour was a dead cat bonce . Probably, yes. By a number of day traders who jumped on board to short. I can’t see anyone moving in to start buying just yet, and it will take an institution of fund to do that to put a bottom in here. No RNS response from any of the main parties at 7am this morning via the company, but people like Woodford may be making statements elsewhere. It was Muddy Waters who were interviewed on the business section of the BBC Today programme this morning though with just a statement from BUR, repeating the message their report is without merit,
Ripley94
08 Aug 2019
Double Bottom bullish signal I bet that was around the time my 1050 order went through muddy waters not the only ones out to make money here.
Eadwig
08 Aug 2019
Double Bottom bullish signal Ripley94: So that was a best order @ 1000 that went for 800 ? A live market order when the live price was around @1000p. I couldn’t get a quote though, so I left it with them to deal with and I got @800p about 20 minutes later. This was another reason I didn’t attempt to sell other holdings because I was working blind at that point.
Eadwig
08 Aug 2019
Double Bottom bullish signal Ripley94: Could they write a bad report like this for the purpose of just making money. Yes, it is done all the time, especially when they get the media on board spreading the news which fuels the panic. This particular group have a successful track record at doing it. This was Burford’s response yesterday which saw a price spike up for a while until the report was released. 7 August 2019 REPORT’S CRITICISMS WITHOUT MERIT AND BURFORD PRINCIPALS TO PURCHASE SHARES The Board of Burford Capital Limited (“Burford†or the “Companyâ€) takes note of the short attack report issued this morning by Muddy Waters, a firm known for such tactics, and believes that the report’s criticisms are without merit. Burford will issue a detailed response to the report as soon as practicable and, following that detailed response, will also convene an investor conference call, as to which participation details will be provided in due course. Christopher Bogart and Jonathan Molot, Burford’s Chief Executive Officer and Chief Investment Officer, respectively, have informed the Board that once Burford’s detailed response to the Muddy Waters’ report allegations has been published, they each intend to purchase Burford shares for their personal accounts.
Ripley94
08 Aug 2019
Double Bottom bullish signal So that was a best order @ 1000 that went for 800 ? I never place those orders I have become very mistusting of people these last few years which is sad when I think about it. So you think the pull back yesterday last hour was a dead cat bonce . These reports are honest opions of the company’s and not to be shrugged of as muddy waters types, muddying the water to gain an advantage?
Eadwig
08 Aug 2019
Double Bottom bullish signal Ripley94: When at what price? Did you consider selling on the rummer the day before? I couldn’t get a quote so left a market order in when the price was around @1000p. I eventually was given @800p. I had a very low limit order set just in case and that had triggered on the drop the day before. I couldn’t sell that because it hadn’t cleared (I think that was the problem - need to look into that). That was in my SIPP. I also have tranches in my trading account and by the time I moved over to them the price was down below @600p I was also plagued by being on a new laptop which went into a Windows 10 update delaying any action, although with hindsight I should have acted the previous day on the rumour, so I’m not blaming the technical problem. I also had some other open trades that needed dealing with due to the general market conditions so perhaps wasn’t as focused as I should have been. At that point I decided to grit my teeth and see if there was any chance of reducing my holding by a half or so on a dead cat bounce - also to see what RNSs are released today, although there is little the company can say to reverse this now, even though they did for a short time yesterday.
Ripley94
08 Aug 2019
Double Bottom bullish signal Are these bare raids always true and successfull As I say I am not educated on markets. Could they write a bad report like this for the purpose of just making money. Just making sure nothing they say is untrue. Off course alleging something like with globo ( a complete fraud ) would be a different example. Or do you think this is similar.
Eadwig
08 Aug 2019
Double Bottom bullish signal devonplay: *“Quindell has a market cap of £2.1bn, making it the second-largest stock on AIM.†Fortunately I wasn’t involved in that one. I did get caught amid a short attack when two activist investors got involved with Cheniere Energy a few years ago, one was pro the company and the other was against and they were fighting it out on U.S. TV daily. On that occasion I had to get out having see my holding reduced from 100% profit to 40% (I had already taken profits previously as I have with BUR). As it turned out when that was all over between the two major egos involved I got back into Cheniere (LNG.NYSE) and made another 50% profit or so. Other than some slight over-runs in building infrastructure (LNG export terminals that take around 5 years to build) there really was nothing wrong with the company. The share price never did recover to previous levels though … it peaked around @$80 and is only back to $61 now, 5 years later.
Ripley94
08 Aug 2019
Double Bottom bullish signal I can understand that what percentage of holding did you sell? When at what price? Did you consider selling on the rummer the day before? It would make sence but seems more stressful Then just topping up as I did twice, and would of done the third time but had a slightly to low limit reduced after reading all the negative comments which I quess is all part of the game.
Eadwig
08 Aug 2019
Double Bottom bullish signal I reduced my exposure, taking large losses, but still have plenty. It dropped so fast that I was taken by surprise and decided to wait for the fight-back response to see if I could get a better price. The last place you want to be as an investor is on a battleground between a company and a bunch of shorters. I’m not convinced the company is guilty as charged, a lot of the research report uses very unprofessional language. But as @Lastemporer said I don’t see how it recovers from here, even if it later is absolved. The mud sticks and the short attack has been extremely well orchestrated. I imagine Ernst and Young will be making a statement today after their faultless audits over the last 10 years have been called into question. Invesco, Woodford also need to respond to allegations.
Ripley94
07 Aug 2019
Double Bottom bullish signal O dear if anyone had taken a short or sold when you posted at 1.30pm they would of been well out of pocket by close… Lasternporer
Lastemporer
07 Aug 2019
Double Bottom bullish signal Hope you got out early Eadwig, awfully sorry to see any PI’s lose proper money here. I’m just about to read the full report :[link] I did just watch the Youtube. For me it’s a huge mess, I don’t know how companies recover from something like this, it’s all again linked to Woodford messing around in the back ground, it’s mentions this in the video:
