bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 11, 2015 10:48:31 GMT
My problem with the GEIA has always been the exit route. On another thread there seems to exist numerous 'horror' stories of units being offered for sale with zero movement although in fairness to chris, he did carry out a few modifications in the background after putting some of his holding into the ring. The 7% looks attractive compared to the likes of Z or RS or W but if the worst comes to the worst you can get out of these albeit at a cost. So any thoughts. Is it now sorted? - before I put more than a small toe in the water. |
|
|
|
Post by westcountryfunder on Feb 11, 2015 11:24:21 GMT
My problem with the GEIA has always been the exit route. On another thread there seems to exist numerous 'horror' stories of units being offered for sale with zero movement although in fairness to chris, he did carry out a few modifications in the background after putting some of his holding into the ring. The 7% looks attractive compared to the likes of Z or RS or W but if the worst comes to the worst you can get out of these albeit at a cost. So any thoughts. Is it now sorted? - before I put more than a small toe in the water. Well, I can only recount my own experiences which I have not attempted to analyze. I reckon you need a reasonable float of say minimum £1000 in order for it to be feasible to spread the risk across enough loans. Just a couple of days ago I withdrew £350, which took just 5 minutes to appear in my cash account. Later during the day I put the £350 back in, and that took about 15 minutes. My husband has a separate AC account which is used solely for GEIA. I have mentioned on this forum previoulsy that it is yielding somewhat more than 7%pa (including accrued interest). Checked again today, and that is still the case. So, yes, it is indeed worthwhile in my opinion.
|
|
|
|
Post by Duane Dibley on Feb 11, 2015 11:34:26 GMT
Horses for courses. Risk and reward.
Personally I'm quite happy with the existing security on those loans, but if you're the type of person who always wears a belt with your braces just in case, then they'll be more up your street.
Not for me though.
|
|
jo
Member of DD Central
Posts: 727 
Likes: 492
|
Post by jo on Feb 11, 2015 11:52:38 GMT
I guess if you're investing as an attorney, trustee, or similar (where, in theory at least, you have to be able to exhibit a degree of prudence) they are attractive.
I will shortly be investing as an attorney.
|
|
niceguy37
Member of DD Central
Posts: 504
Likes: 254
|
Post by niceguy37 on Feb 11, 2015 11:55:02 GMT
A number of lenders had reported that their attempts to exit the GEIA were unsuccessful, but Chris has implemented some tweaks, and now a prompt exit is normal. Certainly all my GEIA holdings sold within minutes of the fix, and several others reported the same.
Has anyone still got a problem exiting the GEIA?
You could always put £100 in and give it a test.
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 11, 2015 19:34:49 GMT
I put a £1000 in to see what would happen as there's a bit of a famine ATM in the general market to say the least. Everything sprung into action and it purchased £400 of loan 93. Then £400 of loan 112. So it effectively breached the 20% rule unless that has been quietly dropped and I missed it somewhere. Couple of hours later it sold £100 of loan 93 (why buy it in the first place?) then a few minutes later disposed of 0.7p (no idea why) from loan 112. I can see why folks get confused over the actions of the GEIA algorithm and this is just day one for me. There appears to be no other green loans available although maybe 135 will go live one day but that appears to be it. So the bottom line is I'm earning 7% on £699.93 and the balance of £300.07 is just sitting there. Is this working as it should chris?? |
|
|
|
Post by chris on Feb 11, 2015 19:38:39 GMT
I put a £1000 in to see what would happen as there's a bit of a famine ATM in the general market to say the least. Everything sprung into action and it purchased £400 of loan 93. Then £400 of loan 112. So it effectively breached the 20% rule unless that has been quietly dropped and I missed it somewhere. Couple of hours later it sold £100 of loan 93 (why buy it in the first place?) then a few minutes later disposed of 0.7p (no idea why) from loan 112. I can see why folks get confused over the actions of the GEIA algorithm and this is just day one for me. There appears to be no other green loans available although maybe 135 will go live one day but that appears to be it. So the bottom line is I'm earning 7% on £699.93 and the balance of £300.07 is just sitting there. Is this working as it should chris?? No, the only time it should breach the 20% rule is when a lender is looking to reduce their holdings. Then it'll sell as fast as it can and rebalance as best it can if the 20% rule is breached. I'll carry out my own experiment again to see if I can recreate it.
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 11, 2015 20:15:02 GMT
I put a £1000 in to see what would happen as there's a bit of a famine ATM in the general market to say the least. Everything sprung into action and it purchased £400 of loan 93. Then £400 of loan 112. So it effectively breached the 20% rule unless that has been quietly dropped and I missed it somewhere. Couple of hours later it sold £100 of loan 93 (why buy it in the first place?) then a few minutes later disposed of 0.7p (no idea why) from loan 112. I can see why folks get confused over the actions of the GEIA algorithm and this is just day one for me. There appears to be no other green loans available although maybe 135 will go live one day but that appears to be it. So the bottom line is I'm earning 7% on £699.93 and the balance of £300.07 is just sitting there. Is this working as it should chris?? No, the only time it should breach the 20% rule is when a lender is looking to reduce their holdings. Then it'll sell as fast as it can and rebalance as best it can if the 20% rule is breached. I'll carry out my own experiment again to see if I can recreate it. So both of my holdings are in breach of the 20% rule - have I got that right chris. Not that I want to dispose of them as there's little else (if anything) to replace them.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Feb 12, 2015 4:42:46 GMT
I suppose it's related to the fact that all Aftermarket activity is suspended at this hour, but the list of loans with units available is very long now -- 39 entries, of which 10 are wind turbines. No doubt the GEIA rebalancing engine will spring into action the moment the Aftermarket is reactivated but, unfortunately, it will run through the available parts in microseconds because, ignoring the two WT loans with more than £100k available, the eight available loans have a grand total of £62 of parts up for grabs.
Does this happen every night?
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 12, 2015 7:45:05 GMT
I suppose it's related to the fact that all Aftermarket activity is suspended at this hour, but the list of loans with units available is very long now -- 39 entries, of which 10 are wind turbines. No doubt the GEIA rebalancing engine will spring into action the moment the Aftermarket is reactivated but, unfortunately, it will run through the available parts in microseconds because, ignoring the two WT loans with more than £100k available, the eight available loans have a grand total of £62 of parts up for grabs. Does this happen every night? Purchased a few pennies - 5 additional entries overnight totalling £15.33.
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 12, 2015 15:44:38 GMT
Just had a quick look at my GEIA - not a good thing to do. Little wonder there is confusion regarding this. Today in a period covering less than 8 minutes, I've bought and sold parts in loan 93 - 29 times. Total purchases in this loan 93 amount to £39.99. But why all the buying and selling activity to achieve an investment increase of just shy of 40 quid. Surely this is something that needs looking at chris as your server must be taking steroids or something. |
|
pikestaff
Member of DD Central
Posts: 2,140
Likes: 1,486
|
Post by pikestaff on Feb 12, 2015 22:24:18 GMT
I am utterly baffled by the GEIA. I parked some money there on 4 Feb, with a view to taking it out again when one of the upcoming loans draws down. All but a tiny amount got invested PDQ. So far so good. A couple of days ago I set it to withdraw repayments and interest, at which point it started to SELL my investments for NO reason. My funds actually invested and earning were £1,700, and are now down to £1,281.89. And because sales are not repayments, the money is just sitting there doing nothing.
I will now turn off "withdraw repayments and interest" and see if it reinvests my funds...
|
|
bugs4me
Member of DD Central
Posts: 1,843
Likes: 1,470
|
Post by bugs4me on Feb 12, 2015 22:44:00 GMT
I am utterly baffled by the GEIA. I parked some money there on 4 Feb, with a view to taking it out again when one of the upcoming loans draws down. All but a tiny amount got invested PDQ. So far so good. A couple of days ago I set it to withdraw repayments and interest, at which point it started to SELL my investments for NO reason. My funds actually invested and earning were £1,700, and are now down to £1,281.89. And because sales are not repayments, the money is just sitting there doing nothing. I will now turn off "withdraw repayments and interest" and see if it reinvests my funds... I'm only doing this for about a week as the exit route appears sorted. But if the full amount manages to get invested I may put some more in. If though the maximum holding in any one investment is 20% then I've got at least one in excess of that. Can't say I really understand the 20% rule with a provision fund floating in the background. Even more so as it appears my investment will not be buying anything else as there's nothing else around and zero listed in the upcoming loans. So effectively my GEIA is 'at the mercy' of a current investor willing to sell. Hmmm.......... I'll look at it in a couple of days as whilst it may seem a nice convenient passive investment, if the security on W/T's looks okay then I may as well invest direct in these and forego the PF. I assume the projected 7% only applies to actual invested funds and not those sitting idle or have I missed something.
|
|
bob2014
Member of DD Central
Posts: 54
Likes: 3
|
Post by bob2014 on Feb 13, 2015 17:23:30 GMT
I am utterly baffled by the GEIA. I parked some money there on 4 Feb, with a view to taking it out again when one of the upcoming loans draws down. All but a tiny amount got invested PDQ. So far so good. A couple of days ago I set it to withdraw repayments and interest, at which point it started to SELL my investments for NO reason. My funds actually invested and earning were £1,700, and are now down to £1,281.89. And because sales are not repayments, the money is just sitting there doing nothing. I will now turn off "withdraw repayments and interest" and see if it reinvests my funds... Where did you get the idea that GEIA was a cash account? Its a long term investment and depends on other lenders being available to buy your investments so you can exit early. A software change was made earlier this year to unstick some investments which did not appear as available to other, but other that that you have to wait for the randomiser to select your investments for a willing lender when there is a large queue.
|
|
|
|
Post by chris on Feb 13, 2015 23:14:15 GMT
I am utterly baffled by the GEIA. I parked some money there on 4 Feb, with a view to taking it out again when one of the upcoming loans draws down. All but a tiny amount got invested PDQ. So far so good. A couple of days ago I set it to withdraw repayments and interest, at which point it started to SELL my investments for NO reason. My funds actually invested and earning were £1,700, and are now down to £1,281.89. And because sales are not repayments, the money is just sitting there doing nothing. I will now turn off "withdraw repayments and interest" and see if it reinvests my funds... Is this not for diversification reasons? i.e. the 20% per loan was breached? That's the only reason I can think of for why funds would sit there unused if there is stock available. I plan to spend the weekend carrying out a number of experiments with the green account, like I did before, to get to the bottom of any issues be they real or perceived.
|
|
