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Post by dodgeydave on Mar 16, 2016 23:46:05 GMT
Z**s uk
It just goes from bad to worse.
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Post by captainconfident on Mar 17, 2016 0:01:15 GMT
Yep that one hit me too. A double ouch as it was an A, and I was a bit over-confident about thatloan.
However, focus on the facts that on REBS we have always been investing in the wild west of borrowers prepared to pay towards 20% interest p.a. so you have to take the rough with the smooth. REBS has an approach of trying to nurse the strugglers back to health, and recently that has born some fruit. You can pick winners on REBS if you are careful. If you make mistakes, you'll loose that money. If this platform is the main focus of your investments then you are an idiot. But for a white knuckle ride with money you can afford to loose, I'm OK with it.
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Post by dodgeydave on Mar 17, 2016 0:06:19 GMT
I agree its a gamble .
I am currently at minus 8.38% without this loan going bad
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Post by gaspilot on Mar 17, 2016 9:49:43 GMT
My dashboard is currently showing a net average return of -38.62% !!
I don't know how that has been calculated as I am still showing a profit over the last 3 years.
However, that could very easily change as I'm actively departing the site, and have a very small proportion of my investments left in it now.
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Post by rebsrep on Mar 17, 2016 11:20:00 GMT
My dashboard is currently showing a net average return of -38.62% !! I don't know how that has been calculated as I am still showing a profit over the last 3 years. However, that could very easily change as I'm actively departing the site, and have a very small proportion of my investments left in it now. We're actively working on an algorithm for the negative return percentage. As you say you can have a net overall gain i.e. Money In plus interest/ML Gains less bad Debts/ML Losses = Positive £'s. BUT you could still show a negative percentage, especially if you've sold off most of your good performing loans and are left with loans that are distressed/in recovery. However trying to come up with a single figure percentage return that reflects the movement of cash in and out and the bad debts and reflects a true and fair view for ALL users is proving incredibly complex and before we can publish it we'll also want to gain an independent view and FCA thoughts. We also don't want to slow the site with a complex calculation!
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Post by mrclondon on Mar 17, 2016 15:42:51 GMT
My dashboard is currently showing a net average return of -38.62% !! I don't know how that has been calculated as I am still showing a profit over the last 3 years. However, that could very easily change as I'm actively departing the site, and have a very small proportion of my investments left in it now. We're actively working on an algorithm for the negative return percentage. As you say you can have a net overall gain i.e. Money In plus interest/ML Gains less bad Debts/ML Losses = Positive £'s. BUT you could still show a negative percentage, especially if you've sold off most of your good performing loans and are left with loans that are distressed/in recovery. However trying to come up with a single figure percentage return that reflects the movement of cash in and out and the bad debts and reflects a true and fair view for ALL users is proving incredibly complex and before we can publish it we'll also want to gain an independent view and FCA thoughts. We also don't want to slow the site with a complex calculation! I'm not a lender with ReBS so can't comment on details of implementation on your site, but the normal way of analysing the historic return of a cashflow is XIRR. I'm one of a number of lenders who maintain an XIRR calculation in Excel for each p2p platform we lend through. The XIRR function simply needs feeding with the amounts and dates of deposits and withdrawals from the platform, and the present book value (ideally both with and without any accrued but not yet paid interest). AC have indicated that when development time permits, they intend to explore the inclusion of XIRR on lender dashboards.
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Post by GSV3MIaC on Mar 17, 2016 18:29:41 GMT
IRR or XIRR is what I monitor too, although I usually have/prefer to work it out iteratively (long live Newton Raphson). It's about the only way to compare between platforms.
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SteveT
Member of DD Central
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Post by SteveT on Mar 17, 2016 18:33:45 GMT
IRR or XIRR is what I monitor too, although I usually have/prefer to work it out iteratively ( long live Newton Raphson). It's about the only way to compare between platforms. Sorry to be the bearer of sad tidings, but I fear both gentlemen expired some 300 years ago 
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Post by GSV3MIaC on Mar 17, 2016 18:35:27 GMT
Ah but the method still works, which is more than you can say for many a dead philosopher or mathematician. 8>.
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Post by Deleted on Mar 21, 2016 16:37:51 GMT
Modified Dietz is my preferred for this type of asset class. Though all have their merits / limitations.
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kaya
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Post by kaya on Mar 29, 2016 14:36:24 GMT
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ianb
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Post by ianb on Mar 29, 2016 15:34:56 GMT
...and put more effort in to recoveries. Its over 12 months since i had the first default, and not a penny back yet - has anyone had anything back ? I hope the tax statement is being modified to reflect the amount of bad debt in the period, so at least we dont have to work that out (if my understanding of the revised legislation is correct).
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kaya
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Post by kaya on Mar 29, 2016 16:03:16 GMT
Got a few pence back from Les Miserables! The first proper payment is due to be marked up today....we shall see.
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ianb
Posts: 161
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Post by ianb on Mar 29, 2016 16:48:15 GMT
Got a few pence back from Les Miserables! The first proper payment is due to be marked up today....we shall see. good to hear it - lucky you ! (but then lucky me as I'd bailed on it at the first whiff of trouble)
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kaya
Member of DD Central
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Post by kaya on Mar 29, 2016 18:03:06 GMT
Ahh, very wise! But sometimes we like to have faith, and believe, and perservere, and so we hang on, untill....
I've perservered, i've tried to have faith, but the duff loan that breaks the lenders' back (or goodwill), for me, has now arrived. Unless Rebs has a serious rethink concerning their future strategy, the survival of this platform may be seriously in doubt. They have to start consistently sourcing good loans, and ensuring that REAL security is in place. Let rates fall to reflect this if necessary. For now, I am left with no reasonable choice but to seriously trim back my lending here, with a view to a complete exit. Many of the older loans with good repayment histories are still probably the safest, but at the moment, discounted loans can still sell, so...get out while you can?
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