ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156 
Likes: 4,830
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Post by ozboy on Dec 13, 2017 16:47:52 GMT
Dammit, drawn like a moth to a flame (  ), sneaked back on the site and added some more. |
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sarahcount
Member of DD Central
Posts: 359
Likes: 815
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Post by sarahcount on Dec 28, 2017 9:35:31 GMT
Thanks very much to whoever was selling off this loan at 75% this morning.
Don't mind if I do.
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ceejay
Posts: 971
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Post by ceejay on Dec 28, 2017 9:55:38 GMT
Thanks very much to whoever was selling off this loan at 75% this morning. Don't mind if I do. I saw that but wasn't quick enough. I wonder if that was finger trouble (someone meant to sell £75) or someone trying a risky discounted sale to themselves?
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elliotn
Member of DD Central
Posts: 3,063
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Post by elliotn on Dec 28, 2017 14:22:06 GMT
Thanks very much to whoever was selling off this loan at 75% this morning. Don't mind if I do. I saw that but wasn't quick enough. I wonder if that was finger trouble (someone meant to sell £75) or someone trying a risky discounted sale to themselves? IFISA transfer. Perhaps ablrate will prevent the most egregious abuses.
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sapphire
Member of DD Central
Posts: 483
Likes: 400
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Post by sapphire on Dec 28, 2017 14:44:24 GMT
IFISA transfer. Perhaps ablrate will prevent the most egregious abuses. I echo your thoughts. Outrageous misuses of the facility to trade in the secondary market for IFISA accounts could result in HMRC imposing stricter conditions/disallowing this facility altogether to the detriment of all. FS allow a +/-1% premium/discount range on the secondary market. ablrate may wish to consider having some sensible limits.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Dec 28, 2017 15:39:12 GMT
I saw that but wasn't quick enough. I wonder if that was finger trouble (someone meant to sell £75) or someone trying a risky discounted sale to themselves? IFISA transfer. Perhaps ablrate will prevent the most egregious abuses. Doesn't the market stop it anyway? If you offer a price lower than an existing bid, won't the market automatically sell it to that bidder? And if there's no existing bidder, well, there's no market rate...
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blender
Member of DD Central
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Post by blender on Dec 28, 2017 17:43:16 GMT
There are no automatic sales. But it looks like whoever made the offer lost out to Sarahcount.
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sarahcount
Member of DD Central
Posts: 359
Likes: 815
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Post by sarahcount on Dec 28, 2017 21:12:54 GMT
Right place. Right time.  |
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Post by elephantrosie on Dec 28, 2017 21:15:09 GMT
75%!!!! you must have the quickest internet connection
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theshape
Member of DD Central
Posts: 153
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Post by theshape on Dec 28, 2017 21:28:34 GMT
Thanks very much to whoever was selling off this loan at 75% this morning. Don't mind if I do. I can't be the only one to be curious as to how much you purchased?
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sarahcount
Member of DD Central
Posts: 359
Likes: 815
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Post by sarahcount on Dec 28, 2017 21:39:14 GMT
I think I just happened to log on at the right time. Couldn't really believe my eyes but as I had funds on the platform following the Transport loan repayment even earlier that morning I just dived in grabbed the lot.
I was a little concerned that the seller was transferring to their ISA and that I would be beaten to it and end up paying at the next highest offer rate. In actual fact I left £20 there as I wanted to see if my eyes were not deceiving me and to confirm that I had actually bought at 75%. I then claimed the £20 as well as it seemed rude not to.
I was tempted to hang around and see if the same seller carelessly left any more loans lying around at 75% but I had to go out.
I'm not normally that quick at FFF so imagine that the seller must have got in a bit of a tangle.
While I've been lucky this time I agree that boosting an ISA by buying your own loans at 75% should not be allowed. Moving your funds into an ISA by setting an offer at 0.1% below the existing market price seems perfectly reasonable though and the two things are very different.
So the lesson for today is don't be greedy or you'll risk suffering a completely unnecessary 25% loss on your loan holding.
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sarahcount
Member of DD Central
Posts: 359
Likes: 815
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Post by sarahcount on Dec 28, 2017 21:58:08 GMT
Thanks very much to whoever was selling off this loan at 75% this morning. Don't mind if I do. I can't be the only one to be curious as to how much you purchased? Only a couple of hundred or so. Nothing really life changing but made me feel good. It's also possible that someone got in before me and took as much as they were able. I know that P2P should not be treated as a game but I do enjoy picking up the occasional SM loans which are under-priced or which have unusually good risk reward ratios. I'm far from being a BH so occasional lucky breaks are gratefully received.
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blender
Member of DD Central
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Post by blender on Dec 28, 2017 22:15:11 GMT
I think this just shows the market working as it should. If you make great tax-avoidance offers to your ISA-self, you risk making a 25% loss. Ouch!
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sarahcount
Member of DD Central
Posts: 359
Likes: 815
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Post by sarahcount on Dec 31, 2017 19:18:13 GMT
There's something about this loan that I love and that loves me.
A short time ago today I got a nice bit of arbitrage business.
Rude not to. Right place right time etc etc.
I'm hoping for peace on earth for 2018 - plus a few more ABL punters selling at silly prices.
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sapphire
Member of DD Central
Posts: 483
Likes: 400
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Post by sapphire on Jan 1, 2018 17:22:37 GMT
On some of the other loans, ablrate have set limits on what the offer price can be set (e.g. an offer on 1000080 is restricted to 95-105 and on 1000040 it is 95-103) but there are no limits (so far) on 1000092. Any idea when and what criteria ablrate use to set the limits? It may be that ablrate has just missed setting the limit so far on this fairly recent loan. |
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), sneaked back on the site and added some more.
