registerme
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Post by registerme on Jun 8, 2015 10:27:19 GMT
So as a result of the various musings on this forum about how autobid's functionality or behaviour may change, with the possibility of FC tweaking things behind the scenes depending on loan flow and SM state, I sent them the following email:-
"Hi,
Please can you tell me what, if any, changes are made in Autobid's behaviour or functionality, on what basis they are made, when they are made, and how these changes are communicated to the investor community?
Thanks,
RM"
Their response:-
"Hi RM,
Thanks for your email.
If any changes or action were required from investors in terms of changing their settings on Autobid, we would ensure that all investors are contacted and made aware of this. We would not make changes to Autobid without informing investors via the website or newsletters.
We are actively working to improve Autobid functionality in the near future, including expanding the options for the maximum exposure to one company (currently 0.5% or 1%). Again, when we are able to introduce these improvements we will inform all investors.
I hope this helps to clarify, please do get in touch if you have any further questions.
Kind regards,
FC"
It's not an exact answer to my question, nor is it an exact answer to my implied question. Shall I follow up or are people happy with this answer as it stands?
RM
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blender
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Post by blender on Jun 8, 2015 12:45:45 GMT
I rather think they might be answering as if you were a lender using Autobid to buy loan parts, not to sell them.
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registerme
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Post by registerme on Jun 8, 2015 13:16:36 GMT
Yeah, I went back with a more pointed question to allow them less wriggle room. We'll see.
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registerme
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Post by registerme on Jun 19, 2015 12:12:16 GMT
Got there eventually.
"Hello RM,
Thanks for your reply.
I appreciate that you are interested in understanding the details as to what could be altered, and the impact this would have on the marketplace as a whole. However, as mentioned any changes to the algorithm typically would not be shared, unless it impacts the actual settings an investor has chosen.
I would note, following your reference to property loans, that due to the high proportion of these loan parts available on the marketplace they typically take longer to sell than non-property parts. However, I can confirm that we have not prevented Autobid lending to a specific type of loan in this way.
Kind regards,
FC"
(my italics). Still, it doesn't explain what happened back in May.
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Post by loanstar on Jun 19, 2015 18:15:48 GMT
As a matter of interest has anyone sold many property loan parts this week? I can report that I sold just one this week (ending 19-6-15) at zero markup.
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chrisf
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Post by chrisf on Jun 19, 2015 18:56:17 GMT
Actually I had 3 go today including a 6.9% A+ (7% with rounding error) which is more than I have got rid of in any single week for a while. Also 2 on Wednesday but the previous par sale on a property loan was a fortnight before that. I always have hundreds up for sale but selling is extremely sporadic.
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Post by GSV3MIaC on Jun 19, 2015 21:00:40 GMT
I shifted nine all told, which is better than I've seen for a while, although it was sporadic .. when the glut of new auctions hit, sales dried up for a while. I note that silly-season Friday was called off this week (no 30+ new loans listed) so I expect there'll be some SM sales to autobuy over the weekend, but as FC said, there are a LOT of property parts out there, at not very spectacular rates, so if autobid/buy is devloping intelligence, or a conscience, then they will move rather slowly. I guess Fairly Cool Selling Ltd still have a heap of their own to shift too. I am not encouraged to go overexposed to property loans just yet. 8>.
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markr
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Post by markr on Jun 19, 2015 21:39:33 GMT
I sold half a dozen, which is the best daily total since the 11th. All of them were 8% £20 property parts.
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Post by goldservice on Jun 20, 2015 7:59:37 GMT
I guess this should really be on the prop 'em up thread but since others are discussing it here: would one shift a greater cash volume if one was selling £40 parts? Has anyone tried both £20 and £40 parts and noticed any difference in how AB handles them?
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maxmarengo
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Post by maxmarengo on Jun 20, 2015 11:49:22 GMT
I guess this should really be on the prop 'em up thread but since others are discussing it here: would one shift a greater cash volume if one was selling £40 parts? Has anyone tried both £20 and £40 parts and noticed any difference in how AB handles them? I tend to buy a mix of £20s and £40s. Looking back over my sales history, there is not evidence that one sells quicker than the other. So you would sell more cash value at £40 than at £20, however, I think the best approach is to have a mix. That way you are fishing in a larger pond of autobidders.
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sl75
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Post by sl75 on Jun 20, 2015 21:13:53 GMT
I think the best approach is to have a mix. That way you are fishing in a larger pond of autobidders. Agreed, and in my experience there's no need to stop at only £20 and £40 loan parts either. My most recent sale was an £80 loan part, which exceeds the total value of all the £20 and smaller parts I've sold today. Another loan part sold earlier in the week was for a value that exceeds the total value of all other loan parts sold during the week. Although sales are of course more sporadic, I've found over a period of months that it's not unlikely for a buyer to come along and take SEVERAL £xxx loan parts (usually one from each of a bunch of different loans) at the same time, presumably after adding a large lump sum to their FC account.
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Post by GSV3MIaC on Jun 21, 2015 8:20:54 GMT
I usually stop at £100, but there are several buyers who buy multiples (sometimes 10 or more) but normally not with autobid.
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mv
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Post by mv on Jun 21, 2015 12:53:05 GMT
I sold a £1000 loan part with a discount of 0.5%. (It was one of my silly first bids and I don't buy loan parts this big anymore!)
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markr
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Post by markr on Jun 22, 2015 12:30:30 GMT
I guess this should really be on the prop 'em up thread but since others are discussing it here: would one shift a greater cash volume if one was selling £40 parts? Has anyone tried both £20 and £40 parts and noticed any difference in how AB handles them? In the cashback loans, I buy mainly £20 parts, with a few £40, and my observation generally when I am re-listing is that I'm often left with more of the £40 parts, so in my experience the £20 parts sell better. But for me, it's not hugely important because cashback loan parts sell "fast enough", that is I generally sell enough cashback property parts at par to bid up to my preferred level in new cashback loans.
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