This article is excerpted from a letter by Mordechai Yavneh, managing member of Focus Capital Management, based in New York City.
Burford Capital (London: BUR, NYSE: BUR) is headquartered in London, and is dual-listed, trading in London on the AIM exchange and in New York on the NYSE. Burford is a litigation finance company, which in essence means that they fund lawsuits in exchange for a portion of the proceeds recovered. They exclusively finance high-end commercial disputes, whose legal fees often reach many millions of dollars, and they operate in a distinctly different segment from personal injury lawsuit or other consumer lawsuit financing, which have an entirely different market dynamic and regulatory environment.
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About The Author: Mordechai Yavneh
Mordechai Yavneh is the founder and manager of New York-based Focus Capital Management, LLC, a boutique long-only hedge fund launched in 2013. Focus Capital Management is a fund with a fairly unique approach to investing. Our unique advantage comes from implementing and capitalizing on the value that concentration brings to an investor’s portfolio. We believe that focusing our time, energy, research, analysis, and resources on our best ideas generates superior long-term returns with a reduced level of risk built into each investment. We aim to invest in 4-5 positions at a time, and we believe this concentration and the deep research we invest in each of our positions is the catalyst behind our long-term success.
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