benaj
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Post by benaj on Jan 19, 2019 13:47:14 GMT
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Stonk
Stonking
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Post by Stonk on Jan 19, 2019 14:30:39 GMT
Or, to put it another way: "In order to meet the targets we told potential IPO investors we would achieve, we have had to accept a whole load of low quality loans, which makes the numbers look OK at the moment because they haven't started defaulting yet, and maybe we can continue doing that for a couple more quarters, but sometime soon this is all going to come crashing down as returns plummet and lenders leave in droves."
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copacetic
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Post by copacetic on Jan 20, 2019 11:51:14 GMT
I'm not that surprised that FC returns are lower than projected. I was considering starting to invest with FC last year up until the point that I got a flyer through the post advertising for a loan for my startup company which had been trading for about a year and had less than £200 equity at the time. Even I'd have been hesitant to lend to it  |
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Stonk
Stonking
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Post by Stonk on Jan 21, 2019 9:21:33 GMT
I'm not that surprised that FC returns are lower than projected. I was considering starting to invest with FC last year up until the point that I got a flyer through the post advertising for a loan for my startup company which had been trading for about a year and had less than £200 equity at the time. Even I'd have been hesitant to lend to it
Me too! My dormant limited company with a few hundred pounds in it has received numerous mailings from FC, especially in the run-up to the IPO. They didn't say how much I might be able to borrow, but going on the evidence of the FC borrowers I find myself lending to I reckon maybe a couple of hundred K ...
Mind you, Barclays Bank are at it too. All they know about me is that once a month £800.01 goes into my Barclays account from my real current account, 2 trivial DDs are taken, and slightly less than £800.01 goes back to my real current account. And yet every time I log in they offer me a loan for £15,400.
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ashtondav
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Post by ashtondav on Jan 21, 2019 11:44:57 GMT
Yep, after initially being attracted to the black box model and the ditching of the spivs and flippers I have now stopped any new investment and will appraise the situation in September. RS, LW and AC are now much better bets. I’m optimistically hoping for 5%ish now, but realise even that isn’t possible unless I stick around for a good few years.
The dumb money may well continue to flow to FC until the brown stuff hits the fan and we get the inevitable multiple Daily Mail sob stories?
And then, as Ultravox would say, Goodnight Vienna. Shame really FC was a good idea...
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Post by captainconfident on Jan 21, 2019 19:32:47 GMT
Yep, after initially being attracted to the black box model and the ditching of the spivs and flippers I have now stopped any new investment and will appraise the situation in September. RS, LW and AC are now much better bets. I’m optimistically hoping for 5%ish now, but realise even that isn’t possible unless I stick around for a good few years. The dumb money may well continue to flow to FC until the brown stuff hits the fan and we get the inevitable multiple Daily Mail sob stories? And then, as Ultravox would say, Goodnight Vienna. Shame really FC was a good idea... I think they only said "Oh Vienna". But they may have hit the nail on the head with "Dancing With Tears in my Eyes".
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ashtondav
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Post by ashtondav on Jan 22, 2019 2:51:58 GMT
I stand corrected. IIRC it was kept off the No1 spot by the legendary song, “shadupayerface” - probably got the spelling wrong...
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Nomad
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Post by Nomad on Jan 22, 2019 9:28:35 GMT
I stand corrected. IIRC it was kept off the No1 spot by the legendary song, “shadupayerface” - probably got the spelling wrong... Shaddap You Face !! "the most successful Australian-produced single in Australian music history".
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Post by Ace on Jan 22, 2019 9:49:26 GMT
I stand corrected. IIRC it was kept off the No1 spot by the legendary song, “shadupayerface” - probably got the spelling wrong... Shaddap You Face !! "the most successful Australian-produced single in Australian music history". I have this single. Bought for me by my first girlfriend as a non-to-subtle hint that she didn't want to be the last! 😢
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