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  "documentTitle": "Burford Capital (BUR)",
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  "authorName": "Carson Block",
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  "presentationDate": "2019-08-13 00:00:00",
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  "notes": "The text highlights a discrepancy between the stated reasons for adopting IFRS 9 and the actual timeline of its effectiveness, suggesting ulterior motives.",
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      "text": "In other words, with these changes, we see BUR as having taken the decisive step toward becoming a stock promotion.",
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      "text": "In 2011, BUR ceased publishing a cash NAV... In February 2012, BUR completed an acquisition... In November 2012, BUR irreversibly blew apart its corporate governance... In the 2012 Annual Report, BUR announced a change in accounting policy...",
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      "text": "We will, however, continue to deduct unrealised litigation gains from NAV for purposes of the Adviser’s performance fee computation. — Burford Capital 2011 Annual Report",
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