nw99
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Post by nw99 on Mar 26, 2019 21:40:07 GMT
All non performing 20% discount would be good If I can get out .
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eeyore
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Post by eeyore on Mar 27, 2019 9:30:09 GMT
.......................... There will plenty of flippers happy to buy at a 2% discount and resell at a 1% discount - this is where the demand for variable pricing came from, people looking to trade and profit from the unwary. Don't fall unwittingly into the trap that is about to be offered.
Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Personal view: After Moneything announced their intention to introduce variable pricing, I started to reduce my MT holdings and I'll only invest in future loans which I'm confident I can hold until redemption.
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SteveT
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Post by SteveT on Mar 27, 2019 9:45:09 GMT
Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Is this based on anything more than personal paranoia? Can you point to any evidence of this happening on Ablrate, Assetz Capital, Funding Secure, Bridgecrowd, etc. (where the option to sell existing loan parts at a discount has existed for years)?
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r00lish67
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Post by r00lish67 on Mar 27, 2019 9:47:10 GMT
.......................... There will plenty of flippers happy to buy at a 2% discount and resell at a 1% discount - this is where the demand for variable pricing came from, people looking to trade and profit from the unwary. Don't fall unwittingly into the trap that is about to be offered.
Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Personal view: After Moneything announced their intention to introduce variable pricing, I started to reduce my MT holdings and I'll only invest in future loans which I'm confident I can hold until redemption.Not keen for us all to get back in the same death loop of discussion, but the other perspective is: what are people doing lending in high risk self-select investments if they can't assess value/risk? Just about every other type of investment can be bought and sold at variable prices. Yes, winners and losers. Yes, speculators. Yes, people talking up and down investments. So what? Should the stock market be par only too? Should we ban all newspapers and forums talking about stocks for fear of them exploiting the less-informed? Should betting on horses and football be banned too? As far as I'm concerned, every time you choose a product in a supermarket you are being potentially exploited for your lack of awareness about value and alternatives. I appreciate the consequences can be greater here, but it's just life. I do appreciate the paternal/maternal instincts at play here to protect the less-informed, but every other sphere of life is governed by market price. To exclude this particular sphere despite it being one explicitly relating to an entirely optional investment product laden with explicit risks would seem bizarre to me.
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eeyore
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Post by eeyore on Mar 27, 2019 10:25:49 GMT
Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Is this based on anything more than personal paranoia? Can you point to any evidence of this happening on Ablrate, Assetz Capital, Funding Secure, Bridgecrowd, etc. (where the option to sell existing loan parts at a discount has existed for years)? Paranoia? That's a rather pejorative term don't you think? I'd suggest the term "caution". And, no, I can't point to specific evidence - I'd have pointed it out at the time if I had (but I only frequent the MoneyThing & Ablrate forums). I'm surprised that you seem to have reacted negatively to what surely is just a cautious approach.
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eeyore
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Post by eeyore on Mar 27, 2019 10:52:14 GMT
Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Personal view: After Moneything announced their intention to introduce variable pricing, I started to reduce my MT holdings and I'll only invest in future loans which I'm confident I can hold until redemption.Not keen for us all to get back in the same death loop of discussion, but the other perspective is: what are people doing lending in high risk self-select investments if they can't assess value/risk? Just about every other type of investment can be bought and sold at variable prices. Yes, winners and losers. Yes, speculators. Yes, people talking up and down investments. So what? Should the stock market be par only too? Should we ban all newspapers and forums talking about stocks for fear of them exploiting the less-informed? Should betting on horses and football be banned too? As far as I'm concerned, every time you choose a product in a supermarket you are being potentially exploited for your lack of awareness about value and alternatives. I appreciate the consequences can be greater here, but it's just life. I do appreciate the paternal/maternal instincts at play here to protect the less-informed, but every other sphere of life is governed by market price. To exclude this particular sphere despite it being one explicitly relating to an entirely optional investment product laden with explicit risks would seem bizarre to me. You are of course entirely correct (with one exception). Which is why, recognising my limitations, I'm backing out of the MoneyThing "marketplace". The exception? The stock market is much more heavily regulated than the P2P market. "Should we ban all newspapers and forums talking about stocks...?" Perhaps I'm showing my age when I recall a case nearly twenty years ago when the writers of a column in a tabloid newspaper were convicted of an offence under the 1986 Financial Services Act - they were alleged to have used their newspaper column to create a misleading impression of the value of certain investments; the editor of the newspaper, now a somewhat controversial television presenter, was investigated by the DTI but not charged. PS: I hope your comparison of P2P lending to betting on horses and football wasn't meant to be taken seriously (even though it seems like it at times)!
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nw99
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Post by nw99 on Mar 27, 2019 11:02:27 GMT
Ablrate secondary has been awesome over the years best out there Agreed. And, sadly, we'll have to be careful of posters here who'll be boosting loans (ones they're hoping to sell) and denigrating and/or predicting large discounts on loans they are hoping to buy. Where there's a potential profit to be made, trust will be an early casualty. Personal view: After Moneything announced their intention to introduce variable pricing, I started to reduce my MT holdings and I'll only invest in future loans which I'm confident I can hold until redemption.Not keen for us all to get back in the same death loop of discussion, but the other perspective is: what are people doing lending in high risk self-select investments if they can't assess value/risk? Just about every other type of investment can be bought and sold at variable prices. Yes, winners and losers. Yes, speculators. Yes, people talking up and down investments. So what? Should the stock market be par only too? Should we ban all newspapers and forums talking about stocks for fear of them exploiting the less-informed? Should betting on horses and football be banned too? As far as I'm concerned, every time you choose a product in a supermarket you are being potentially exploited for your lack of awareness about value and alternatives. I appreciate the consequences can be greater here, but it's just life. I do appreciate the paternal/maternal instincts at play here to protect the less-informed, but every other sphere of life is governed by market price. To exclude this particular sphere despite it being one explicitly relating to an entirely optional investment product laden with explicit risks would seem bizarre to me.
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Post by mrclondon on Mar 27, 2019 11:53:57 GMT
Newcastle U L is probably the only loan that would warrant big discounts, most of the others would be a token cut to gain a better queue position. Even 20% would not induce me to buy N U L, in fact not even sure 50% would do the trick. others will disagree so could be an interesting time. Not keen for us all to get back in the same death loop of discussion, but the other perspective is: what are people doing lending in high risk self-select investments if they can't assess value/risk? Just about every other type of investment can be bought and sold at variable prices. Yes, winners and losers. Yes, speculators. Yes, people talking up and down investments. So what? Should the stock market be par only too? Should we ban all newspapers and forums talking about stocks for fear of them exploiting the less-informed? Should betting on horses and football be banned too? [...] [...] PS: I hope your comparison of P2P lending to betting on horses and football wasn't meant to be taken seriously (even though it seems like it at times)! I too have used the betting on horses and football analogy, which with many loans is what we are doing ... gambling based on indications of form. I've started this post with the quote from Badly Drawn Stickman re Newcastle U L which I agree with to the extent I simply can't put a value on the security. r00lish67 asks what are people doing investing in such loans if they can't assess value/risk. Again, I'm in full agreement. With Newcastle U L the value is dependent on it becoming a successful trading business. We can assign highish probabilities to the building getting completed sometime this year, but we have no means of assessing the viability of the business model. To invest in this loan is indeed analogous to betting on a football team who have little to show for their £m signings, but have boosted their coaching staff significantly. But it still needs the players to deliver.
p2p investing is not analogous to stock market investments given the extensive and strict disclosure requirements of the latter (even on AIM), and the number of investment analysts studying each company in detail.
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7d7
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Post by 7d7 on Mar 28, 2019 13:28:16 GMT
Well, there are several loans on ABL at heavily discounted prices. Nonetheless, they're not flying off the shelves.
Will see what VSM brings to liquidity on MT.
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nw99
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Post by nw99 on Mar 28, 2019 23:26:14 GMT
ABL nothing really heavily discounted if there is let me know I am a persistent buyer of them all
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ganymede
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Post by ganymede on Apr 10, 2019 21:25:36 GMT
e-mail from MoneyThing 11th April platform suspended from 10am, until notified while updated.
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ptr120
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Post by ptr120 on Apr 10, 2019 21:26:56 GMT
MoneyThing SophieThing I've just received your email that the platform will be suspended at 10am tomorrow morning. Please can I strongly suggest that you delay this implementation? You've provided no information on what will happen to my current position in the sales queue, nor time to consider that You've provided no information about the potential liquidity impact of the investments that I hold which could now change significantly You've provided little information about how loan monitoring, and future information releases will change ( ablrate do provide at least a certain level of information about how a businesses credit worthiness might have changed since a loan was written. Although their implementation is far from perfect, at least they do something in this regard - will you give me a creditsafe report every quarter so that I can take a call on if the conditions around a particular company have changed?) While I acknowledge that you've consulted on the change, this isn't how I expected you'd implement such a change. Announcing this well after office hours for implementation the following morning - without as much as an FAQ doc explaining the impact to go with it is poor form and requires further consideration. Please take us with you on this journey and you'll get far more support from lenders.
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r00lish67
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Post by r00lish67 on Apr 10, 2019 21:48:22 GMT
MoneyThing SophieThing I've just received your email that the platform will be suspended at 10am tomorrow morning. Please can I strongly suggest that you delay this implementation? You've provided no information on what will happen to my current position in the sales queue, nor time to consider that You've provided no information about the potential liquidity impact of the investments that I hold which could now change significantly You've provided little information about how loan monitoring, and future information releases will change ( ablrate do provide at least a certain level of information about how a businesses credit worthiness might have changed since a loan was written. Although their implementation is far from perfect, at least they do something in this regard - will you give me a creditsafe report every quarter so that I can take a call on if the conditions around a particular company have changed?) While I acknowledge that you've consulted on the change, this isn't how I expected you'd implement such a change. Announcing this well after office hours for implementation the following morning - without as much as an FAQ doc explaining the impact to go with it is poor form and requires further consideration. Please take us with you on this journey and you'll get far more support from lenders. I've yet to see the e-mail, but Ed flagged the changes being imminent a month ago, put them in a newsflash 2 weeks ago, and the relevant T's and C's were posted a week ago, stating go-live on the 11th, so it was pretty well advertised. www.moneything.com/p2p/index.php/support/update/id/2689Re: liquidity, it can only improve your position, as you'll have the chance to exit by discounting your loans (or not as you may choose). I'm not sure why you'd expect a change to loan monitoring practices relating to this change though, or am I missing some info from the e-mail yet to be received?
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averageguy
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Post by averageguy on Apr 10, 2019 21:48:57 GMT
Looking forward to seeing these changes. No email here though this might be my fault. Any chance someone could post a copy? Looking forward to ...glad to see its coming into effect tomorrow ..don't want any further delays
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Post by eascogo on Apr 11, 2019 0:01:37 GMT
Looking forward to seeing these changes. No email here though this might be my fault. Any chance someone could post a copy? "... the platform will be suspended at 10am on Thursday 11th April whilst we release the Variable Secondary Market (VSM). We will email lenders when the release has been completed and the secondary market is available for use."
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