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Post by propman on Sept 30, 2016 7:53:10 GMT
It's a conspiracy, someone is manipulating the markets upwards! Or the fiddling of markets downwards has temporarily failed...
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arbster
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Post by arbster on Sept 30, 2016 8:00:11 GMT
I think people are not fools, especially with money. A vast majority of people are careful and read all the options and FAQs. Those that don't, well there's only so much you can do I am sorry westonkevRS , I often put your somewhat dry tone down to personality & walk on by, but I'm afraid I must be frank in this situation; have you ever considered looking for a role which is not customer facing? I would suggest that for anyone who by inference would publicly suggest that some of their customers are fools & beyond help is seriously ill suited to a customer services role. Did you miss the "not" in the quoted text? He said people are not fools.
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alender
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Post by alender on Sept 30, 2016 8:45:06 GMT
I would point out as others have, there is no option to read (i.e. there is no text to give you a clue, no blue underlined text typical of a hyperlink, etc.) when it comes to guessing to click on the last matched rate. Someone suited to a customer services role would be thinking "how can I improve this area". I would welcome a link to an FAQ that mentions clicking on this area. I as (I like to think) a diligent investor & extremely curious person only found that I could click on the last matched rate some weeks after starting to use RS (I would never use market rate, having seen the Zopa like insults of money being matched at ~2% in the 3 year market by it). As one of my fellow 'foolish' investors said reading this thread, I thought when I found it "oh, that will save me a few clicks", not "oh, I can set my own rate". As you say Someone suited to a customer services role would be thinking "how can I improve this area" however someone looking to improve RS profits would probably be thinking “how I can get more people to use Lend it now instead of setting their own rate”.
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arbster
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Post by arbster on Sept 30, 2016 8:47:59 GMT
I would point out as others have, there is no option to read (i.e. there is no text to give you a clue, no blue underlined text typical of a hyperlink, etc.) when it comes to guessing to click on the last matched rate. Someone suited to a customer services role would be thinking "how can I improve this area". I would welcome a link to an FAQ that mentions clicking on this area. I as (I like to think) a diligent investor & extremely curious person only found that I could click on the last matched rate some weeks after starting to use RS (I would never use market rate, having seen the Zopa like insults of money being matched at ~2% in the 3 year market by it). As one of my fellow 'foolish' investors said reading this thread, I thought when I found it "oh, that will save me a few clicks", not "oh, I can set my own rate". As you say Someone suited to a customer services role would be thinking "how can I improve this area" however someone looking to improve RS profits would probably be thinking “how I can get more people to use Lend it now instead of setting their own rate”. In fairness, I don't think either of these is Kevin's responsibility at Ratesetter.
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Post by westonkevRS on Sept 30, 2016 8:59:06 GMT
I think people are not fools, especially with money. A vast majority of people are careful and read all the options and FAQs. Those that don't, well there's only so much you can do I am sorry westonkevRS , I often put your somewhat dry tone down to personality & walk on by, but I'm afraid I must be frank in this situation; have you ever considered looking for a role which is not customer facing? I would suggest that for anyone who by inference would publicly suggest that some of their customers are fools & beyond help is seriously ill suited to a customer services role. I said " I think people are not fools, especially with money" And no I'm not customer facing, and never have been. And in truth, the more image conscious would probably prefer that I didn't post. Kevin.
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alender
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Post by alender on Sept 30, 2016 9:01:26 GMT
It's a conspiracy, someone is manipulating the markets upwards! Or the fiddling of markets downwards has temporarily failed... Without the RS features that keep pressure on the rates who knows where the rates would have been but RS say these features are not there to reduce rates, therefore I guess that are saying it is an unintended side effect. Would be good to have an explanation of why these many features that help to reduce rates are there instead of calling anyone who says otherwise is a conspiracy nutter/theorist.
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Post by ruralres66 on Sept 30, 2016 10:04:57 GMT
I am sorry westonkevRS , I often put your somewhat dry tone down to personality & walk on by, but I'm afraid I must be frank in this situation; have you ever considered looking for a role which is not customer facing? I would suggest that for anyone who by inference would publicly suggest that some of their customers are fools & beyond help is seriously ill suited to a customer services role. ..."And no I'm not customer facing, and never have been. And in truth, the more image conscious would probably prefer that I didn't post...... Kevin. But we are grateful that you do;the "image conscious" need to realise that savy lenders (especially on this forum), welcome the opportunity for dialogue and debate....... it helps the business model by building some confidence in letting us have a voice and by providing an opportunity to ask awkward questions- at least it will let RS ( and us) see what direction the wind is blowing in? On another matter, what impact will current German Banking difficulties have for RS and P2P in general? Deutsche Bank fears rattle stock markets More "quantitative easing" and cheap money flooding market, driving down rates and impacting on P2P business volumes.....?
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Post by yorkshireman on Sept 30, 2016 10:13:59 GMT
It's a conspiracy, someone is manipulating the markets upwards! Me.
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Post by propman on Sept 30, 2016 13:06:07 GMT
Rates seemed to have been smashed down overnight. 4.3 in 5yr? No thanks. Off topic for this thread, but I was getting some matches in the rolling market at 3.4 for the last few days, then I got a huge repayment overnight. I looked this morning and the rate is 2.7... :-( Ye of little faith, rates back up!
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investibod
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Post by investibod on Sept 30, 2016 13:24:50 GMT
I am sorry westonkevRS , I often put your somewhat dry tone down to personality & walk on by, but I'm afraid I must be frank in this situation; have you ever considered looking for a role which is not customer facing? I would suggest that for anyone who by inference would publicly suggest that some of their customers are fools & beyond help is seriously ill suited to a customer services role. I said " I think people are not fools, especially with money" And no I'm not customer facing, and never have been. And in truth, the more image conscious would probably prefer that I didn't post. Kevin. I quite often disagree with some of the things you say, but I respect that you (figuratively) stand up here and say them. I think most of the resentment is aimed at "The Man" rather than you personally, but as you have the chutzpah to be the "face" of RS to this forum, you get the brunt of it. Your tone sometimes seems a little sharp, and occasionally a little condescending, but I guess that is just your way. There is a fairly widely held belief that RS are [manipulating the market] / [using algorithms] that lower rates to the detriment of lenders. While that is perceived to be continuing, there will be negative comments aimed at RS via you; but I believe that the vast majority of people do not mean them personally. However, if you personally have done something to really annoy somebody, then that is a different matter
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teddy
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Post by teddy on Sept 30, 2016 15:47:48 GMT
Strewth, I've had a bite at 6%!
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Post by danegeld on Sept 30, 2016 17:02:23 GMT
Strewth, I've had a bite at 6%! And all my 6.0% Lender offers have been taken. It's almost enough to restore my faith in "the market"!
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Post by westonkevRS on Sept 30, 2016 17:41:11 GMT
There is a fairly widely held belief that RS are [manipulating the market] / [using algorithms] that lower rates to the detriment of lenders.... But those lenders don't seem to think that the same algorithms are being used when the rates go up, like today back to 6% AER..... Or did we turn them off?
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Post by davee39 on Sept 30, 2016 18:57:44 GMT
RS have loaned a record £20.5m so far this week, which explains the rates recovery.
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jonah
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Post by jonah on Sept 30, 2016 19:22:00 GMT
Congrats on that then Kevin. Was there anything different done this week such as a new channel partner to suggest this might be a nice trend?
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