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Post by honda2ner on Jun 17, 2020 15:55:06 GMT
I've avoided PIK and some of the more dodgy looking offerings as WA is uncharted territory so there are lots of questions about what happens when things get complicated with debt exchange. So far it seems WA just ignore it which is a bit odd and makes me uneasy. As the fractional holder we are surely interested in what WA is doing with our investment, even if it's nothing.
As to black box holdings, that sent a shiver down my spine. I have never seen a good outcome for black box accounts that aren't household names and have a reputation at stake, if WA wants to attract black box investors then I'm out, completely out.
Next time I'm logged in I will fire up the online chat and see if I can get some answers and drop them into a new thread. It's a shame that WA don't seem to follow this forum any more, with covid making a mess of P2P I would have thought this forum (and others) would be a happy hunting ground for them.
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Nomad
Member of DD Central
Posts: 729 
Likes: 495
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Post by Nomad on Jun 17, 2020 16:40:41 GMT
I've avoided PIK and some of the more dodgy looking offerings as WA is uncharted territory so there are lots of questions about what happens when things get complicated with debt exchange. So far it seems WA just ignore it which is a bit odd and makes me uneasy. As the fractional holder we are surely interested in what WA is doing with our investment, even if it's nothing. As to black box holdings, that sent a shiver down my spine. I have never seen a good outcome for black box accounts that aren't household names and have a reputation at stake, if WA wants to attract black box investors then I'm out, completely out. Next time I'm logged in I will fire up the online chat and see if I can get some answers and drop them into a new thread. It's a shame that WA don't seem to follow this forum any more, with covid making a mess of P2P I would have thought this forum (and others) would be a happy hunting ground for them. I have emailed them and requested comments on the above.
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Post by kazamx on Jun 17, 2020 18:48:05 GMT
Please let us know whn you hear back. Saves everyone messaging them with the same questions. Their communication does seem to have gone to  over the last 6 months to a year. Didn't they hire someone to deal with public relations awhile ago? They are a little more active on their community portal community.wisealpha.com/A post a week or two back said they are looking at adding new bonds to the market in the near future |
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Post by kazamx on Jun 17, 2020 19:11:59 GMT
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Post by easterndreams on Jun 17, 2020 22:24:59 GMT
To be honest, voting on these things seems like an administrative hassle I can do without - definitely seems better for WA to just vote for their whole block in what seems to be the best way than to canvas holders on the platform
I do like that they now have an 'updates' icon, which I think is new, I see a couple of updates relating to the recent Travelex coupon non-payment on it. I hope this rolls out to other bonds too.
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Post by honda2ner on Jun 18, 2020 9:17:46 GMT
Thanks Nomad & kazamx for clearing that up, I'm not massively bothered if WA vote for investors but it would be nice for those investors that want to vote, can. Either way I would like to know which way WA voted and why as hopefully they know much more than I do! All of this feeds into an assessment of platform risk.
Not sure that WA can claim they are voting in the best interest of investors when they don't know what their investors want. I'm sure it will be a huge can of worms to have votes and WA will hate it but I've been burnt so many times with platforms only acting in their own interests and not their investors so am a big believer in allowing investor participation at every level, even if many choose to not bother. Personally still not keen on buying any bond that might end up with exchange or PIK as it's adding another layer of uncertainty and IMO the extra yield doesn't compensate, more visibility of the process might change my view.
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Nomad
Member of DD Central
Posts: 729
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Post by Nomad on Jun 19, 2020 12:01:26 GMT
Please let us know whn you hear back. Saves everyone messaging them with the same questions. Their communication does seem to have gone to over the last 6 months to a year. Didn't they hire someone to deal with public relations awhile ago? They are a little more active on their community portal community.wisealpha.com/A post a week or two back said they are looking at adding new bonds to the market in the near future WA pointed out that they have added "Important Updates" alongside certain bonds. I see an update for AMC was added on Wednesday. My contact says he has "asked the team to consider responding on the forum."
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Nomad
Member of DD Central
Posts: 729
Likes: 495
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Post by Nomad on Aug 10, 2020 9:17:43 GMT
To be honest, voting on these things seems like an administrative hassle I can do without - definitely seems better for WA to just vote for their whole block in what seems to be the best way than to canvas holders on the platform I do like that they now have an 'updates' icon, which I think is new, I see a couple of updates relating to the recent Travelex coupon non-payment on it. I hope this rolls out to other bonds too. WA will be emailing their Travelex bondholders this week regarding the "options available to them". EDIT: 500 posts, hooray!
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over the last 6 months to a year. Didn't they hire someone to deal with public relations awhile ago?