rick24
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Post by rick24 on Jan 5, 2017 11:00:19 GMT
westonkevRS The Alphaville journalist is entirely negative about p2p so that has to be borne in mind. He seems to view it as indistinguishable from conventional lending, apart from a lack of regulation, and entirely a matter of hype. Investors can make their own judgement.
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jo
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Post by jo on Jan 5, 2017 14:06:34 GMT
westonkevRS The Alphaville journalist is entirely negative about p2p so that has to be borne in mind. He seems to view it as indistinguishable from conventional lending, apart from a lack of regulation, and entirely a matter of hype. Investors can make their own judgement. Yes we can indeed and it has been my rule of thumb for roughly a decade that the FT has become almost the perfect reverse indicator. Anything they hate, I generally assume will be a raging success (AirBnB, Uber, to name a couple). Don't think they like 'disruptors' (disclosure: I have no skin in the Wellesley game).
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littleoldlady
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Post by littleoldlady on Jan 5, 2017 18:08:56 GMT
westonkevRS The Alphaville journalist is entirely negative about p2p so that has to be borne in mind. He seems to view it as indistinguishable from conventional lending, apart from a lack of regulation, and entirely a matter of hype. Investors can make their own judgement. OK you can ignore Alphaville if you like, but i would advise that you look at the accounts (for 2015), and in particular the external auditor's report, as well as the statistics for 2016 from their site, when making your own judgement.
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Post by Deleted on Jan 5, 2017 19:40:30 GMT
A lot of the outgoings during that period were advertising, I guess related to that TV marketing push they had
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rick24
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Post by rick24 on Jan 5, 2017 20:19:54 GMT
westonkevRS The Alphaville journalist is entirely negative about p2p so that has to be borne in mind. He seems to view it as indistinguishable from conventional lending, apart from a lack of regulation, and entirely a matter of hype. Investors can make their own judgement. OK you can ignore Alphaville if you like, but i would advise that you look at the accounts (for 2015), and in particular the external auditor's report, as well as the statistics for 2016 from their site, when making your own judgement. No, I wouldn't ignore it. It does raise an important issue here. It would seem only prudent to look at the accounts.
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jaswells
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Post by jaswells on Jan 5, 2017 22:06:38 GMT
Has the seedrs campaign been dropped? I cannot seem to access information on it anymore.
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Post by Deleted on Jan 5, 2017 22:29:03 GMT
Where has all that revenue gone? Lifted directly from the publicly available accounts: Advertising and marketing: 6,104,787 Loss before taxation: 3,285,426 Definitely some scope for belt tightening!
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stevio
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Post by stevio on Jan 5, 2017 23:52:06 GMT
www.thisismoney.co.uk/money/article-4092392/Aristocrat-s-fight-172m-saving-firm-afloat-Accounts-reveal-perilous-state-lender-Wellesely.htmlCan't quite get my head around the loan from the business, secured on a property, to buy more shares of the business? Sounds like dodgy dealing or least leverage in a bad way - can anyone explain the risks here? Advertising costs are ridiculous - personally not seen any other p2p on TV for obvious reasons Exhasapated by Director remuneration when the company is making severe losses, seems like they need to go back to basics I would be concerned about funds invested and wouldn't touch the equity raise. Imagine this large player failing could have a really negative effect on the confidence in p2p in general
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Post by james1london on Jan 6, 2017 22:18:34 GMT
The Wellesly company is committed to protecting lenders losses by covering these losses themselves first, which is more of a commitment than many other P2P platforms, and every P2P platform had losses at some point, remember Zopa 2014, 5 million loss "Accounts for 2014 filed with Companies House on Friday show revenue jumped from £5.3 million to £11.4 million in the year to December 2014.
But losses also jumped from £2.5 million to £5.6 million, as Zopa poured more money into growing its business"
And is there any concern about the ongoing viability of Zopa now? No.
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Post by mrclondon on Jan 7, 2017 5:09:31 GMT
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jaswells
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Post by jaswells on Jan 7, 2017 5:21:34 GMT
There is clearly a link between recent media reports and the seeming cancellation of the seedrs fund raise. Wellesley do need to respond to investor concerns by communicating a business update. There are some contradictions which need to be addressed, for example was the 2.5 million cash injection known to the auditors when comments where made. One hopes the quality team i have alluded to previously do have a plan to address this bump in the road. I have requested a response from the team but have heard nothing as yet.
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Post by Deleted on Jan 7, 2017 6:36:55 GMT
Yeah, some of the reports suggest that Wellesley claim to be cashflow positive now (which is possible without their crazy marketing spend) and that the auditors reports refer to the period prior to autumn 2016 cash raise (which is also possible)
Too many unknowns for my liking tbh
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shimself
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Post by shimself on Jan 7, 2017 19:47:25 GMT
This is of course all a bit premature, but let's discuss what it appears to be. If W are skint then they must have had an awful lot of bad debts. Without the skin in the game lenders would already be experiencing losses.
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littleoldlady
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Post by littleoldlady on Jan 7, 2017 20:49:39 GMT
This is of course all a bit premature, but let's discuss what it appears to be. If W are skint then they must have had an awful lot of bad debts. Without the skin in the game lenders would already be experiencing losses. As I read their statistics they had c£4m in defaults in the 1st 9 months of 2016.
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ben
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Post by ben on Jan 7, 2017 22:02:33 GMT
As long as they can muddle through to mid May when the last small pittance I have with them matures....... Just had a look my last one matures in 2019 so while to hold on to for me.
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