Artem Fokin discusses Burford winning the YPF case + fundamental thesis post-trial $BUR

Artem Fokin, Portfolio Manager at Caro-Kann Capital LLC, returns to the podcast (for the fourth time) to discuss Burford winning the YPF case and the fundamental thesis post-trial.

For more information about Caro-Kann Capital, please visit: http://caro-kann-capital.com/

Artem's first appearance on BUR: https://youtu.be/qBuH8pyc8Y0

Artem's second appearance on BUR: https://youtu.be/OIFGrfx1O88

Chapters:

[0:00] Introduction + Episode sponsor: Stream by Alphasense

[1:41] Burford won the case - quick overview of the case and how we arrived at this final judgement

[15:15] Enforcement and collection

[28:55] Examples of collection efforts

[33:14] Timing of enforcement and potential settlement payouts

[44:02] Tax implications

[54:22] Why hasn't $BUR management answered the question about whether any of the funds they manage bought YPF?

[1:03:35] $BUR core business

[1:14:04] $BUR asset management business model / recent results / management and employee incentives

[1:28:26] $BUR valuation without YPF included

[1:39:38] ROE on the core business on a per share basis and final thoughts

Today's episode is sponsored by: Stream by Alphasense

Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you.

But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/