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
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