BUR, page-14

Jimmy_C

I've held IMF-Bentham from a time when my initial investment was paid back in dividends.

But from 23 Feb 2015 to 15 Feb 2016 IMF-Bentham lost 60% of its value, for the two reasons, Firstly IMF started taking a beating at court. Secondly IMF was selling a 'nothing can go wrong' mentality.

And then it did go wrong.

ROIC's of 100% can be rather flattering, but if it is only returned biennially its only equivalent to 2^0.5 or an annualised ROIC of 41% and if that turn drags down to three years that 2 ^0.33 amounts to a humble 26%.

These are markups that a fashion clothing retailer can obtain, and their stock turn if astutely managed, can test bi-annual rollovers, and so easily achieving that 100% ROIC - annually.

So litigation funding is financially nothing special, on the contrary, it is somewhat abnormal, as the process is devilishly pedestrian.