P2P Liquidity

keitha
Member of DD Central

2024, hopefully the year I get out of P2P

Posts: 3,876
Likes: 2,314

P2P Liquidity Mar 31, 2023 10:57:51 GMT timsykes likes this

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Post by keitha on Mar 31, 2023 10:57:51 GMT

As good a title as any I can think of.

I don't consider myself a super sophisticated investor, or super knowledgeable.

<Rant>
However I'm shocked time after time to see comments on various forums with people moaning

" I tried to withdraw money yesterday and it wouldn't let me I now can't get the money till after the weekend and I need the money for the weekend."
"I put some loan parts up for sale on Monday, it's now Thursday and still not sold, I need the Money"
I saw someone recently asking why the secondary market was suspended in a company that is in administration.

I really wonder if these people have actually looked at the product they are investing in it's not the same as a current bank account.

Ditto the people withdrawing money from companies in administration every time they have £2-3 available then complaining at the amount the administrators are charging. The same people seem to feel ok about bombarding administrators with questions

</Rant>

ethel Posts: 118 Likes: 154	P2P Liquidity Mar 31, 2023 14:05:17 GMT overthehill likes this Quote Select Post Deselect Post Link to Post Back to Top Post by ethel on Mar 31, 2023 14:05:17 GMT Yup, some people just don't read the small print or even the big print. They don't even seem to realise that P2P is DANGEROUS and they could lose the whole lot. I include myself in that group!

mogish
Member of DD Central

Posts: 1,019
Likes: 500

P2P Liquidity Mar 31, 2023 18:13:25 GMT via mobile

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Post by mogish on Mar 31, 2023 18:13:25 GMT

It's only when you get close to or actually being burned that you realise that p2p isn't a bank account.
We all live and learn. Wellesley, AC and Lending works were my learning curve.
Lucky ratesetter and Zopa meant I wasted hours rather than large £ losses overall.

Now only have 2 p2p investments. Fingers crossed. Stocks and shares imo are as risky, just maybe not the potential to lose all your capital.

michaelc
Member of DD Central

Posts: 4,896

Likes: 2,768

P2P Liquidity Mar 31, 2023 18:46:06 GMT

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Post by michaelc on Mar 31, 2023 18:46:06 GMT

Mar 31, 2023 18:13:25 GMT mogish said:

It's only when you get close to or actually being burned that you realise that p2p isn't a bank account.
We all live and learn. Wellesley, AC and Lending works were my learning curve.
Lucky ratesetter and Zopa meant I wasted hours rather than large £ losses overall.

Now only have 2 p2p investments. Fingers crossed. Stocks and shares imo are as risky, just maybe not the potential to lose all your capital.

Disagree. You don't need to worry anything like as much about the platform itself going under and even if it does you still own the underlying stocks which the regulator will eventually sort out access to. You also don't need to worry about cash in the account too much either. They're usually liquid too so get out when you like.

mostlywrong

Posts: 298

Likes: 149

P2P Liquidity Mar 31, 2023 19:26:41 GMT

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Post by mostlywrong on Mar 31, 2023 19:26:41 GMT

Mar 31, 2023 18:46:06 GMT michaelc said:

Mar 31, 2023 18:13:25 GMT mogish said:

It's only when you get close to or actually being burned that you realise that p2p isn't a bank account.
We all live and learn. Wellesley, AC and Lending works were my learning curve.
Lucky ratesetter and Zopa meant I wasted hours rather than large £ losses overall.

Now only have 2 p2p investments. Fingers crossed. Stocks and shares imo are as risky, just maybe not the potential to lose all your capital.

Disagree. You don't need to worry anything like as much about the platform itself going under and even if it does you still own the underlying stocks which the regulator will eventually sort out access to. You also don't need to worry about cash in the account too much either. They're usually liquid too so get out when you like.

I think you have forgotten a recent event:

Beaufort Securities

Just 5 years ago. I wonder whether there are still investors who have not recovered their dosh?

And don't forget the listed companies that fail. I could try and list them but I seem to have held most of them and my PTSD will probably kick in.

Before my time but contributors to this board will probably remember the Polly Peck debacle.

MW

Post by keitha on Mar 31, 2023 10:57:51 GMT

Post by ethel on Mar 31, 2023 14:05:17 GMT

Post by mogish on Mar 31, 2023 18:13:25 GMT

Post by michaelc on Mar 31, 2023 18:46:06 GMT

Post by mostlywrong on Mar 31, 2023 19:26:41 GMT