Hola @klausub, perdona por no haber contestado antes, pero he estado unos días desconectado.
Me parece muy lógica tu preocupación por Apple. En mi opinión me parece muy buena la estrategia de diversificación que está haciendo Apple, ya que creo que el mercado de smartphones está ya demasiado maduro y, que aunque la venta de iPhones haya caído, hay que recordar que la base activa de iPhones a nivel mundial es de 900 millones de dispositivos, estando a niveles record.
Comentas que te preocupa que no se sigan vendiendo tantos accesorios por el descenso de la venta de iPhones, pero yo lo veo justo al revés: cuantos más accesorios vendas, mayor fidelidad creas en el consumidor y seguramente mayor precio estarán dispuestos a pagar para no perder funcionalidades. Aquí es donde entra en juego el ecosistema, ya que si yo me compro un Apple Watch, si me quiero cambiar de móvil me tengo que comprar un iPhone o pierdo muchas de las funcionalidades del reloj.
Esta es mi impresión, pero habrá que ver como van evolucionando las ventas en los próximos trimestres.
Un saludo, y muchas gracias por comentar!
Buenas tardes a todos, Está a punto de empezar la conference call de Burford (4:00 pm) para desmentir los ataques de Muddy Waters. Os dejo el enlace: http://www.investis-live.com/burfordcapital/5d4c02105507861100b3d054/dkdk.
7 August 2019 REPORT'S CRITICISMS WITHOUT MERIT AND BURFORD PRINCIPALS TO PURCHASE SHARES The Board of Burford Capital Limited ("Burford" or the "Company") 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. https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BUR/14180508.html
Y contesta Burford... Que se remite al comunicado de esta mañana. Con la que está cayendo y se limitan a eso...
https://otp.investis.com/clients/uk/burford_capital/rns/regulatory-story.aspx?cid=1377&newsid=1320242
Lo más destacado de los resultados de Disney (2Q 2019) Walt Disney Company ha presentado en este segundo trimestre unos beneficios de $1,76B, lo que supone una caída del 40%. Los ingresos de Disney han sido de $20,25B frente a los $15,2B del mismo trimestre del año anterior. Alegan que la compra por $70B de activos de FOX es la principal razón por la que no han batido las expectativas, a la que han tenido que destinar mayor número de ingresos. La división de cine ha aumentado sus ingresos de forma significativa, alcanzando los 7,100 millones en venta de entradas en todo el mundo. Los mayores ingresos provienen del segmento de redes mediáticas (+21%) y de parques temáticos (+7%).
MW is Short Burford Capital Ltd. (BUR LN) We are short BUR. For years, it was the ultimate “trust me” stock. Thanks to a light disclosure regime, the esoteric nature of its business, and unethical behavior by its largest shareholder, Invesco, it turned Enron-esque mark-to-model accounting into the biggest stock promotion on the AIM. This has all recently changed though. Just this year, BUR began publishing more detailed investment data. This data proves that BUR has been egregiously misrepresenting its ROIC and IRRs, as well as the state of its overall business. We have identified seven methods by which BUR manipulates Concluded Investment ROIC and IRR. BUR’s top management, through their shareholdings (and sales), is in effect primarily compensated for aggressively marking cases in order to generate non-cash fair value gains. Until now, BUR has gotten away with aggressive and unwarranted marks by touting ROIC and IRR metrics. We show that BUR heavily manipulates these metrics. BUR then actively misleads investors about how its accounting for realized gains works. As a result of this deception, we believe investors give credence to BUR’s fair value gains. In actuality, BUR’s net realized returns have relied on a very small number of cases. Just four cases have produced approximately two-thirds of BUR’s net realized gains since 2012. (One of the four outsized contributors was actually a loss a trial, and was bailed out by BUR’s largest shareholder, Invesco, at the direction of Neil Woodford protégé Mark Barnett. Absent the bailout, the case almost certainly would have been a total loss.) BUR is a perfect storm for an accounting fiasco. BUR’s governance strictures are laughter-inducing. The CFO is the wife of the founder / CEO. Under the best of circumstances, this should alarm investors; however, with a company that consistently books non-cash accounting profits, it is unforgivable. BUR has cycled through four prior CFOs or senior finance managers (none of whom stayed for long). These facts beg the question “Is (current CFO) Elizabeth O’Connell the only CFO who can be relied upon to approve the accounts?” https://www.muddywatersresearch.com/research/bur/mw-is-short/
Pues sí, también creo que es hora de que hayan recompras de acciones por parte de insiders, sería un muy buen indicador. Y de que se planteen salir ya del AIM, porque no puede ser que por un tweet en el que no se dice ni el nombre de Burford la acción se desplome un 20% en una tarde. Eso demuestra la falta de analistas que hay cubriéndola y una facilidad de manipular una compañía que cotiza 3 billions tremenda.
7 August 2019 STATEMENT RE SHARE PRICE MOVEMENT The Board of Directors of Burford Capital Limited ("Burford Capital" or "Burford" or the "Company") notes the decline in the Company's share price yesterday and confirms that it knows of no operational or corporate reason for the price movement. Burford just reported the best results in its history and highlights the following: • Burford's cash position and access to liquidity is strong. To be sure, Burford will need to take on additional external capital to continue its growth as it has done successfully throughout its history, but this is a cause for celebration, not for alarm, because it means the business is growing rapidly. We have discussed our capital structure at length in the past. Burford has a wide variety of capital sources available to it and significant ability to manage its cash outflows, and has over $400 million of cash and cash equivalents on hand as of 5 August 2019. • Burford's returns are robust. In fact, our litigation finance returns rose to their highest-ever levels as of 30 June 2019. • Burford uses the same IFRS accounting that is used widely across the financial services industry and has used consistent accounting policies for many years. Burford has been audited by Ernst & Young since 2010 with clean audit opinions every year. • In addition to our audited IFRS reporting, Burford provides cash-based investment reporting in extraordinary detail, including providing line-by-line investment detail about every litigation finance investment we have ever made. We just put the latest installment of that reporting on our website yesterday. We are transparent about how we analyse and report on that data; our approach has been consistent for many years. Burford believes that yesterday's share price movement relates to a rumour of a potential "short attack" or "bear raid", a tactic where short sellers take on a short position in a company's stock and then engage in claims about the company in an effort to alarm investors, depress a company's stock and profit from the decline. Burford also believes that some of its prior recent share price volatility is related to such activity. There is a clear line between appropriate commentary and market manipulation, and Burford is investigating, with the assistance of market experts and experienced outside litigation counsel, the market activities here and will take appropriate legal action should we discover actionable misconduct. We are strongly suspicious that yesterday's significant fall in the share price was based on such actionable misconduct. Short sellers of this ilk are not long-term investors. Rather, their goal is to panic investors into selling their holdings and thereby to drive down the share price. If investors oblige them, then the attack succeeds, long-term investors are harmed and the short sellers pocket a quick payday. Companies are largely powerless to intervene in this dynamic other than by continuing to perform, just as Burford has been; the way to thwart the attacks is for investors to recognize manipulation for what it is and not behave as the short sellers hope. Burford will continue to focus on business performance in our growing market and its long-term goals.
