seeingred
Member of DD Central
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Post by seeingred on Aug 26, 2017 20:15:44 GMT
The good direct communication I received from MT in the early days was one reason why I increased my holdings, some to above what is my normal 'loan maximum'. The only reason why I have not (yet) increased this holding is the loans that have been on offer. Not all have appealed to me - as on other platforms. I await the next batch of loans with interest (pardon the pun).
It is inevitable that some loans will go wrong - that is the nature of building projects and especially DFL type loans. It is how that platform handles these that matters, and it is inappropriate for lenders to expect day by day 'cards on the table' when there may well be sensitive discussions ongoing which cannot be made public. thus far I have no complaints about how MT have kept a watching brief on the progress of loans - rather than just throw the money at borrowers and leave them to it for six months.
What matters as well as how platforms deal with difficult situations is how they treat individual lender enquiries and I have no complaints on this score with MT.
So please do stay Ed, and I am sure you'll be welcomed by the majority of the serious lenders who value your communication here as much as by individual emails. if sometimes you choose not to reply directly to some comments, we can usually discern the reason why.
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star dust
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Post by star dust on Aug 26, 2017 20:55:24 GMT
I can’t think of many/any instances when people wouldn’t continue to welcome and respect your input MoneyThing Ed. I do remember commenting some years back though, that I thought you would find it harder to maintain as your Platform grew. It’s been a long honeymoon, but when the going gets tough the tough get going - ultimately the decision is yours, but I hope we can count you among the tough. No one and nothing is perfect, but stick with your resolve and openness and your (MT) reputation will continue to shine through, you might need to borrow some rhino wrap, ear muffs and a hard hat though.
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Monetus
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Post by Monetus on Aug 26, 2017 22:28:33 GMT
Please stick around Ed - your input is highly appreciated and the place wouldn't be the same without you...
As others have mentioned... you are my biggest platform and one of the major reasons that I have such faith in MoneyThing is your high level of engagement, transparency and communication with the forum.
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Post by Deleted on Aug 27, 2017 6:31:52 GMT
Probably one of the main factors making me currently question whether I should contribute is when I see some vocal people on here critique a particular loan and then make some comment to the effect that “for these reasons, I am out”, and yet on a number of occasions this does not correlate with their investment decision on the platform. This I cannot understand; for who’s benefit or to what end is someone stating they wont participate in a loan and perhaps suggest others shouldn’t either and then invest in it themselves anyway. Given that a market requires both buyers and a sellers, and demand generally exceeds supply, and there is no discount/premium mechanism, then the motivations should be pretty easy to understand for those 'faking' their position.
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jonah
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Post by jonah on Aug 27, 2017 7:24:35 GMT
All my points have been made more eloquently in the posts above than I can right now (no coffee yet today) so I will simply say that in all things* finding a balance is important and you should do what is most appropriate for yourself, organisation and family over the short, medium and longer term. * pun intended
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sirius
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Post by sirius on Aug 27, 2017 8:05:52 GMT
Ed
I too re-iterate that it is your willingness to engage, inform and respond that has made me want to invest more and more in MT. It inspires the confidence to invest that I seem unable to feel with many other platforms.
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snowmobile
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Post by snowmobile on Aug 27, 2017 8:23:10 GMT
Any contributions you make to discussions are always welcome. I don't think any contribution is expected unless specifically tagged with a question, and even then I think most will understand that there are good reasons why some questions cannot be fully answered on a public forum. Ultimately you are in the best position to decide how to spend your time most appropriately, fully considering the interests of lenders and the future growth of the platform.
I greatly appreciate all the contributions you have made to date and I sincerely hope that you decide to stay. There have been some great examples of comments and views expressed on here helping to shape the platform, and I hope that continues. I am much more likely to invest when there is an active platform rep responding to lender concerns and questions. The trust built up through this forum will be invaluable in testing times when things do not go as well.
Maybe I'm being naive, but I'm slightly uncomfortable with the general idea of platforms matching up comments made on here with individual investor accounts. It may well be that those people have chosen an obvious username and a link is unavoidable.
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parisingoc
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Post by parisingoc on Aug 27, 2017 9:55:27 GMT
I know I am a parasite - I read everything and contribute next to nothing - and so recognise that my contribution is of little value, particularly when held alongside the value of the contributions from MT.
This forum would be significantly reduced in so many dimensions if contributions from Ed and The Things were halted.
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Post by westcountry on Aug 27, 2017 9:56:16 GMT
Ed,
I too really appreciate your contribution to the forum, and hope it will continue.
I understand it is probably becoming more difficult, with loans defaulting and disgruntled investors sounding off, but I would miss your input if it came to that.
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madpierre
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Post by madpierre on Aug 27, 2017 10:32:28 GMT
Ed, by engaging with us you engender confidence and disarm the alarmists. Your input is like virtual chocolate. Take it away and MoneyThing will be less sweet. So if you go, I go
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Post by kierongreen on Aug 27, 2017 10:48:47 GMT
Been lurking around for several months on these forums and when interest rates from my initial P2P excursion to Ratesetter started getting too low for my liking the presence, information provided by, and positive and helpful attitude of the Things was a key factor in me being able to trust moving some money to MoneyThing. Am very glad I did, have had no losses and have continued to be impressed by both the platform and those running it.
With the sudden default this week of another loan added to the late payments of the car and Edinburgh loans I have to admit that I have (temporarily) withdrawn my money from the platform. Of course I recognised that there was always going to be an element of risk with the great returns on offer, I just feel that until I can get a feel for the overall risk level and therefore expected returns and degree of diversification required I'd rather watch from the sidelines. Needless to say information provided here from staff will be key to if I do return and I hope that representatives will continue to give as frequent and full updates as is possible given commercial sensitivities.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Aug 27, 2017 11:36:06 GMT
Feel a bit late coming to this (just logged on), but as having been with you from the very start I feel I have to contribute. Without doubt the depth of feeling in the preceding posts says far more than I ever could and I concur 100% with the overwhelming sentiment. Your contribution has been INDESPENSIBLE (yes, even chicken updates) so don't let a very small minority threaten what has been a great journey. A positive conclusion to recent defaults(which were bound to happen eventually) will vastly help in simmering some down.
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Post by yorkshireman on Aug 27, 2017 12:23:21 GMT
There are plenty of self important, self appointed experts and prima donnas on here, just ignore them. Illegitimi non carborundum
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Post by Deleted on Aug 27, 2017 12:33:48 GMT
1) Ed you have made me the most money of all my portals. I really appreciate that.
2) Your communication activity is a main source of confidence, if you make an error/change of plan you fess up, if we need an answer you provide, this is not true of any of my other Portals appart from COL who are too small to really compare. I for one really appreciate it.
3) The internet is a lovely place where you really can talk to people, trouble is, if there is a mob, there is no hiding in the back with a flaming brand, everyone can get to the front. That you don't panic and stay the course is another source of confidence.
4) No one likes losing money, everyone is an expert.
5) I see your communication skills as MT's USP. Don't lose it.
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Post by peerlessperil on Aug 28, 2017 8:06:39 GMT
Moneything's measured participation in this forum is one of the major factors that determined my allocation of funds to the platform. A key concern for any lender assessing a new platform is trying to ascertain that they are not a ponzi scheme - and evidenced participation on a critical forum over several years points to a legitimate platform.
However, this is a forum for lenders to discuss their interests, and these are not always aligned with the interests of platform shareholders. Participants on this forum have no incentive to make any allowance for this.
Stay, but make it very clear you have a business to run. Demonstrate you are monitoring forum comments by acknowledging issues (which reassures lenders that you are on the case) but don't wrestle with pigs and only refute accusations to keep the facts straight. If you are too defensive lenders will wonder if the waters are rising behind the scenes.
There is a further issue that applies to several p2p platforms, Moneything included. You are offering subordinated debt to an investor base that evidently can't price it. Even professional institutional credit investors struggle to price subordinated tranches, and it worries me that in p2p the higher risk tranches fill first, whereas with institutional deals the super-senior is often easier to place. This will end in tears, eventually. Just because lenders self-certify as HNWIs doesn't mean they know what they are doing.
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