admiralty12
19 Mar 2018
Re: And still going up I top slices my IQE and have a free carry on them now. I cashed out a few Burford today but still hold a good amount. I have been slowly getting my portfolio more into US stocks with UK listings (hence Burford) and to that end I have bought and held, since floatation at about 60p last year, DGOC. They are a US oil co. who buy up very safe mature oil fields and use encomomy of scale to reduce overheads. They have done very well and are now at 82p with a good dip recently that I have bought into.They are one of a very few number of divident paying AIM oil Co's. Well run, have had some great asset building deals recently, have a very high production per day and do not drill (at the moment anyway). That is important as drilling = costs. A massive recent deal is, in my view, not factored in and they should perform well. Just a thought on a possible purchase.Regards
peddlar
19 Mar 2018
Re: And still going up Wise move,I sold mine on Friday,there is too much price movement in IQE.best toes what happens on results day.I bought some more Bur this am as they have had 2 upgrades.And more fever tree (topping up)though both are on a high,and have high PEs but they have growth on their side.good luck and enjoy the rise.
missmolly
19 Mar 2018
And still going up I wish I could buy more...I could as I sold IQE today as the day before results tomorrow the SP is going down a bit and news today of Apples 'secret' factory making their own LED's & screens etc. is bad luck timing - but I don't think they would just jump into making their own VCSELS, or if they wanted to do that maybe they could just buy IQE....So I sold on rumour thinking the facts might not be so hot tomorrow, but like most investors I just have no idea what to expect so made my modest profit.I thought BUR would do well, I have held them for 2 years but no idea they would do so well. And keep on going...Now I am trying to find some good shares to invest in.If anyone has some suggestions I will be pleased for any ideas.Good luck to all and be safe in this weather!mm
II Editor
16 Mar 2018
NEW ARTICLE: Stockwatch: An AIM 10-bagger still worth adding "Is a 30% jump in the shares of litigation finance specialist LSE:BUR:Burford Capital worth chasing as it sets new all-time highs?After bumper 2017 results, AIM-listed Burford leapt to 1,450p, currently around 1,400p. It seems a big move though ..."[link]
missmolly
15 Mar 2018
Profit taking now? Down 3.64% The High was 1459.5 so down from there 83.6I'll just hang on...The volume was a lot higher than usual so I guess this relatively unknown share has sparked new interest.mm
oldf
15 Mar 2018
IHT AIM shares which qualify and held for only 2 years (not 7) are zero rated for IHT. There must be many elderly investors who invest in solid AIM shares for this reason and if the company moves to the main market these shares should be sold. I wonder how many investors have shares in ASOS to reduce their IHT and this gives the board of ASOS a reason to remain in AIM. I hope that Burford Capital board may consider to stay in AIM and I can stay invested.
Brown Bull
14 Mar 2018
Re: RNS: Net profit after tax up 130% With today's increase in SP, I think BUR is now has the fourth largest valuation of all the companies on AIM. Some investors don't like AIM, and I am wondering if BUR will decide/come under pressure to move to the main market?Even at today's closing price I see BUR as a "buy" in terms of its future potential. However the SP may drift lower in the absence of news later in the year, so only a "weak buy".
peddlar
14 Mar 2018
Re: RNS: Net profit after tax up 130% i ve followed thes e for a couple of years going in and out.Now my biggest holding.i am now more comfortable holding these as Pe is not that great for a conssistent growth stock.Obviously there will be some profit taking, at some stage.But also this will get some broker upgrades and go on tip sheets.I have opened a good bottle of Margaux...
freedom-thirty5
14 Mar 2018
Re: RNS: Net profit after tax up 130% > Do you see the SP increasing in coming days/weeks or profit taking etc. forcing it down?A bit of both, is my guess. Profit taking is always a risk at all-time highs when everybody is in profit!I have no plans to sell any in the forseeable future, so I am essentially betting on this news being the catalyst to resume the long-term uptrend (see graph). Not advice, DYOR, etc.The recent range-boundedness over the last 6 months or so is something I've been seeing over all my holdings, with the more volatile ones having even pulled back a bit (e.g. IQE). To me, BUR appears to have broken out from that to the upside.I do believe that the markets generally are moving past the blip, and we will see more breakouts across the markets through to summer.
missmolly
14 Mar 2018
Re: RNS: Net profit after tax up 130% Hi again Freedom,Do you see the SP increasing in coming days/weeks or profit taking etc. forcing it down?Really incredible results at first glance, I wonder if there will be some accountants picking holes somewhere...it's a very hard share to value I have read and actually understand why to a degree.The SP seems to be holding it's own right now...All best, mm
freedom-thirty5
14 Mar 2018
RNS: Net profit after tax up 130% Financial Highlights · Net profit after tax up 130% to $264.8 million (2016: $115.1 million)o Operating profit up 132% to $289.0 million (2016: $124.4 million)o 37.4% return on equity (2016: 21.1%)· Income up 109% to $341.2 million (2016: $163.4 million), driven by 127% increase in income from investments to $318.2 million (2016: $140.2 million)o Realized gains from investments also more than doubledo 20 different investments contributed to 2017's realized net gainso Unrealized gains remained generally consistent with prior year levels at 53% of income(2016: 54%) and 36% of investments (2016: 31%) notwithstanding Petersen impact· Strong growth in earnings per share, up 126% to 127¢ (2016: 56¢
· Record investment recoveries; robust organic cash generation of $362 million (2016: $230 million)· 20% increase in annual dividend proposed, to total FY17 dividend of 11.0¢ per share (2016: 9.15¢; final dividend of 7.95¢ payable on 22 June 2018 with record date of 1 June 2018· Persistent demand for Burford's capital reflected in record new investment commitments of $1.34 billion (2016: $378 million), sowing seeds for future profitso Burford now has $3.3 billion invested in and available for investment in legal finance in a widely diversified portfolio· Assets under management in Burford's investment management business increased to $1.7 billion (2016: $1.3 billion) and additional fundraising anticipated in 2018· Active start to 2018, with $128.5 million committed to 12 new investments in the first two months of the year compared to a single $1 million investment in the same period last year· Secondary market sale of Teinver investment agreed in March 2018 for $107 million in cash - a $94.2 million investment gain and a 736% return on invested capital. Sir Peter Middleton, Chairman of Burford, commented: "Burford has experienced another record year, its eighth consecutive year of significant growth. Burford continues to lead its growing and evolving industry and looks forward to continuing to innovate to meet its clients' ever-expanding needs. The Board is grateful for the continued support of our shareholders and bondholders and is delighted to propose another increase in the dividend." Christopher Bogart, Chief Executive Officer of Burford, added: "The past year saw an explosion of demand for Burford's capital from clients around the world, including from our expansions into Asia and Europe. We met that demand by raising incremental capital on our balance sheet and by making robust use of our new investment management business. We grew our team by 23 people so that we now field a team of more than 90, including more than 40 experienced lawyers, and we have by far the largest capital base in the business. We are excited to continue to lead the legal finance industry into the future."
peddlar
14 Mar 2018
What a great set of results. An amazing quote from CEO too ,that a deluge of interest is seen in their services...Have topped up even more.
eurodoom
09 Mar 2018
Single share trades Do any of you know what these single share trades are all about?
late developer
08 Mar 2018
major shareholder reducing Invesco which had 23% has been steadily reducing its holding over the last 3 months. A warning?
missmolly
03 Mar 2018
this from ADFVN by Jonwig & good news Hardman have a brief note in their March monthly summary: Burford has announced another successful fundraise through a retail bond issue. The justification for this was given in the January statement, which revealed record commitments during 2017. The second half, in particular, saw Burford make new commitments of $855m, almost twice the rate in the first half. No indication was given on the cash position, or inflows from maturing investments. However, for previous bond issues, Burford has aimed to avoid the drag that excessive uninvested cash brings. From this, we can infer that the new investments had reduced cash significantly, to the point where a bond issue was justified. ► Issue details: Although the issue was scheduled to close on 6th February, it did so a week early. The issue is denominated in US Dollars – a first for ORB – with a coupon of 6.125% and maturity on 12th August 2025. The offer was oversubscribed and raised $180m. ► Risk management: Given Burford’s business exposures, a US Dollar issue makes sense from both a risk and diversification perspective. The spread over the corresponding US Treasury is lower than last year’s sterling issue was relative to gilts, although, due to interest rate moves, the coupon is higher. ► Risks: The investment portfolio is still diversified, with exposure to over 500 claims, but it retains some very large investments, which means revenue may be volatile. As the company matures, we would expect that to decrease, but not to disappear. The Teinver case shows that this volatility is not simply a negative. ► Investment summary: Burford has already demonstrated an impressive ability to deliver good returns in a growing market, while investing its capital base. As the invested capital continues to grow, the litigation investment business will continue to produce strong earnings growth., Their 2017 forecast eps stays at underlying eps of 104c (ie. 75.5p) so a PER of 13.3x. Expensive, cheap? ~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~ I noticed something from the 10 Jan RNS, then forgot about it: As previously noted, Burford's board of directors determines the fair values of investments following the close of each financial reporting period after taking into account the views of management, the operation of the audit process and input from external experts (as it considers appropriate). Generally, that process does not conclude finally until shortly before the release of Burford's financial results for the relevant period and as a result Burford is unable to comment or provide guidance on its 2017 financial results in advance of their release. So, really, they'll never comment on profit numbers, positively or negatively and maybe no outsider can form a view, either! What they do comment on is "... made $1.3 billion in new commitments, more than triple its 2016 level." So future business won't lack volume. ~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~ Share price weakness? Redemptions from funds, maybe. But I've seen before instances of order book manipulation where DMS gives operators the chance to persuade holders that selling is happening in volume, when it's really series of AT trades of under 100 shares. It can be unnerving for long-term holders sitting on a decent profit. Short interest appears to be zero.
