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Post by bodroll on Sept 1, 2017 7:42:07 GMT
From someone new on Ablrate, please explain the 3.75% 'absolute return' - I though the loan was at 15% pa for 10 months: i.e. 12.5%?
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SteveT
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Post by SteveT on Sept 1, 2017 7:44:44 GMT
From someone new on Ablrate, please explain the 3.75% 'absolute return' - I though the loan was at 15% pa for 10 months: i.e. 12.5%? (Mod hat on) 1000081 is 3 months. It's 1000080 that is 10 months. I will change both thread titles to Loan Number - Loan Name to reduce confusion.
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macq
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Post by macq on Sept 1, 2017 7:44:47 GMT
From someone new on Ablrate, please explain the 3.75% 'absolute return' - I though the loan was at 15% pa for 10 months: i.e. 12.5%? 3 months minimum
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bg
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Post by bg on Sept 1, 2017 8:25:55 GMT
I'm not really sure what the problem is here. The loan took 45 mins to fill so noone can be complaining about bots.
I agree in an ideal world there should be more notice given than 80 mins - but I regularly check my emails on my phone for events like this and in a demand > supply situation some people have to miss out. Also you have to bear in mind this is a 3 month loan so likely time was a big factor. It wouldn't make much sense to give a few days notice and then limit the auction so it could take extra days to fill - I would imagine the borrower was in rather urgent need of the cash and days matter in these circumstances.
On another point, I do agree that loan details should be available to review before the auction launches but I'm not really sure that is in ABL's interests. In this case the loan was supposed to go live at 4pm...i waited until 4.02pm and it still hadn't been released so i left it a few mins and came back and it was launched and aleady 55% full. I then knew if I even looked at the loan details I risked missing out on the loan so I bid a few k straight away without looking. This isn't ideal and I would imagine quite a few people were in the same situation. If ABL were to release the details ahead of time then most people would read them, some would be put off/unsure and the loan would fill much slower. Better for ABL there is a FOMO bidding rush and the loan is filled than risk a lengthy delay.
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kaya
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Post by kaya on Sept 1, 2017 8:35:54 GMT
Better for ABL, yes - but us lenders are just treated as the cash cows, to quickly grab the carrot as long as it looks juicy enough.
Is 24 hours notice - with advance details provided - too much to ask?
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macq
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Post by macq on Sept 1, 2017 8:38:52 GMT
playing devils advocate but if its in any companies (not just Abl) interest to hold docs back to cause a bidding rush it will only back fire in the long run if the loans turn out dodgy and they get a customer backlash.If they have confidence in the loan there should be no problem filling it with the info.
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elliotn
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Post by elliotn on Sept 1, 2017 8:45:46 GMT
Some platforms also worry about loans being poached with early disclosure.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Sept 1, 2017 8:54:50 GMT
echo bid limit must be set on all loans Means amounts on offer to small for larger investors. Maybe bid small bid limit for a couple of hours then free for all? Like in Collateral? Satisfies both dd and pre fund.
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IFISAcava
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Post by IFISAcava on Sept 1, 2017 9:45:41 GMT
From someone new on Ablrate, please explain the 3.75% 'absolute return' - I though the loan was at 15% pa for 10 months: i.e. 12.5%? this loan is 3 months - the other is 10 months. So from a return for risk of capital loss perspective, the longer loan better IF (big if) the absolute risk of default is the same. I've got a lot more of the longer loan.
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Post by Deleted on Sept 1, 2017 11:05:23 GMT
I used to work in Ford's and General Motor's supply chain and the control of their sophisticated containers, trailers was very very imprssive. The products were maintained to a very high standard by inhouse experts and working in their teams seemed like a license to print money. After all this is the thing that makes the "lines run" and the lines are very very expensive to stop
Getting into the cashflow from this organisation really is a good business opportunity and these guys are very lucky to have it.
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justme
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Post by justme on Sept 1, 2017 11:05:26 GMT
I must have missed something- I did receive norice about a new loan , the 3 months one. When I logged in I seen 2 pending loans , to different borrowers and I never got a notice about other loan. Obviously I got something wrong , could you kindly let me know what it was ?
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macq
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Post by macq on Sept 1, 2017 11:11:31 GMT
Some platforms also worry about loans being poached with early disclosure. can see that may be a worry but hopefully say a 1 or 2 hour pre-viewing window could be built in to what ever paperwork is signed now to enable a loan to go live.Would also assume the borrower has already been to more then one platform for a quote and get a feel for the company so would not want to start the process again
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Post by Butch Cassidy on Sept 1, 2017 11:22:43 GMT
I'm not really sure what the problem is here. The loan took 45 mins to fill so noone can be complaining about bots.I agree in an ideal world there should be more notice given than 80 mins - but I regularly check my emails on my phone for events like this and in a demand > supply situation some people have to miss out. Also you have to bear in mind this is a 3 month loan so likely time was a big factor. It wouldn't make much sense to give a few days notice and then limit the auction so it could take extra days to fill - I would imagine the borrower was in rather urgent need of the cash and days matter in these circumstances. On another point, I do agree that loan details should be available to review before the auction launches but I'm not really sure that is in ABL's interests. In this case the loan was supposed to go live at 4pm...i waited until 4.02pm and it still hadn't been released so i left it a few mins and came back and it was launched and aleady 55% full. I then knew if I even looked at the loan details I risked missing out on the loan so I bid a few k straight away without looking. This isn't ideal and I would imagine quite a few people were in the same situation. If ABL were to release the details ahead of time then most people would read them, some would be put off/unsure and the loan would fill much slower. Better for ABL there is a FOMO bidding rush and the loan is filled than risk a lengthy delay. Actually I think it is the opposite complaint; GSV3MIaC used to run a FC bot called Biddie & it picked up bits of anything & everything that he wanted without him needing to be available, he's now clearly regretting sending it in to retirement & feeling some of the pain normal manual bidders did when the bots ate all the pies on FC before we could get a look in!
18 months ago on the "new feature requests" thread I posted "I would like to see new loans listed on the platform BEFORE GOING LIVE, this allows the proposition to be studied & relevant DD &/or Q&A to be undertaken" but you can't have everything you want.
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Post by GSV3MIaC on Sept 1, 2017 14:02:44 GMT
Actually I think it is the opposite complaint; GSV3MIaC used to run a FC bot called Biddie & it picked up bits of anything & everything that he wanted without him needing to be available, he's now clearly regretting sending it in to retirement & feeling some of the pain normal manual bidders did when the bots ate all the pies on FC before we could get a look in!
18 months ago on the "new feature requests" thread I posted "I would like to see new loans listed on the platform BEFORE GOING LIVE, this allows the proposition to be studied & relevant DD &/or Q&A to be undertaken" but you can't have everything you want.
I actually wrote it BECAUSE I felt that pain (and I had previously spent 12 months trying, with no success, to get FC to acknowledge the problem & level the playing field). I would much prefer the 'reasonable shares for all' approach seen on MT, Ly, or even Assetz (without the femtopence). There was no bot activity from me on this one, but unless ABL level the field then that is the temptation for 'next time', since I decline to hover over my keyboard 24/7.
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bg
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Post by bg on Sept 1, 2017 14:20:10 GMT
Actually I think it is the opposite complaint; GSV3MIaC used to run a FC bot called Biddie & it picked up bits of anything & everything that he wanted without him needing to be available, he's now clearly regretting sending it in to retirement & feeling some of the pain normal manual bidders did when the bots ate all the pies on FC before we could get a look in!
18 months ago on the "new feature requests" thread I posted "I would like to see new loans listed on the platform BEFORE GOING LIVE, this allows the proposition to be studied & relevant DD &/or Q&A to be undertaken" but you can't have everything you want.
I actually wrote it BECAUSE I felt that pain (and I had previously spent 12 months trying, with no success, to get FC to acknowledge the problem & level the playing field). I would much prefer the 'reasonable shares for all' approach seen on MT, Ly, or even Assetz (without the femtopence). There was no bot activity from me on this one, but unless ABL level the field then that is the temptation for 'next time', since I decline to hover over my keyboard 24/7. Yeah but i'm not sure how a bot here would have helped, unless you can write one to assess the actual loan proposition (for example, if this was a used car loan 15% for 3 months, no way it would even be filled now). In this instance 45 mins was plenty of time to place a bid.
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