arbster
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Post by arbster on Jul 28, 2015 13:42:16 GMT
Gave up at page 3...far too many options. Great. That improved my odds of winning the iPad...
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arbster
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Post by arbster on Jul 28, 2015 13:21:41 GMT
Agree. I think it was at least worth a full-sized iPad! My wife gave up before the end...
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arbster
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Post by arbster on Jul 28, 2015 13:18:58 GMT
Am I mis-remembering, or did YR previously act as a floor for the MR? The "help" text on the website suggests this has changed recently, and describes the previous functionality in less attractive terms that I recall from when I first invested just a couple of months ago.
Anyway, I would agree with others here that the new MR calculation is far too volatile for me to entrust with my money. Using YR as a "proper" floor for MR reinvestment seems like a logical change. The danger is that RS may think it's one change too many for the average investor, as many of them won't appreciate why the current system is so flawed. I'll be taking the same approach, and have an uninvested 4-figure sum edging closer to the exit every day.
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arbster
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Post by arbster on Jul 28, 2015 6:27:29 GMT
I think my maths must be off here, because I can't see the attraction of this deal for the borrower. The total value of these containers is £80,000 if they achieve £1,600 per container, but given the broad range given and the current best offer of £1,405 per container (£70,250 total), they're more likely to get something like £75,000 (at a generous £1,500 per container). They're taking a loan of £65,500 for 6 months, incurring approx £4,600 in interest, taking the total cost of finance to c. £70,100. Assuming the company are putting zero capital into this deal and it's fully funded by the finance, this leaves, in the median case, a profit of £4,900 from which ABLrate must get paid. If they end up taking the current best offer they make a princely £150, which I presume they'll have to hand straight to ablrateandy. What am I missing? Maybe I shouldn't care, so long as we all get our 14%, but it just doesn't seem to make good business sense at these margins.
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arbster
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Likes: 426
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Post by arbster on Jul 28, 2015 6:09:30 GMT
Although I'm sure some people see them as useful, personality I see no value and they get in the way of informed discussion. It almost seems obsessive to be posting screenshots of the markets every day. @ westonkevRSWhat makes me smile is that despite almost everyone questioning their value, he keeps on posting them without even acknowledging the dissenting voices. You have to admire his persistence - hopefully one of the moderators will eventually get pushed beyond the "softly-softly" hints and just take some kind of action...
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arbster
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Likes: 426
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Post by arbster on Jul 27, 2015 20:38:53 GMT
I agree with mv - people need to make their own mind up on these things, and I suspect none of us really knows how risky these platforms actually are. How would you feel if you "convinced" them and then something went badly wrong?
Do they need the extra 3-5% they'd get in P2P? Presumably both have pensions, and if they're sitting on a cash sum in the bank, it doesn't sound like it's part of an income drawdown plan. Maybe they're happy just to know it's safe and will be there if/when they need it.
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arbster
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Post by arbster on Jul 27, 2015 16:00:44 GMT
If you post the numbers I'll see what I know about them (I almost always have had at least one bid in). If FC 'pull' the auction for whatever reason (c*ck up, normally) then it can happen that nobody can look at the old request though. The two were: Property Expansion Loan - A+ Consumer Services, North West - 14340 Expansion And Growth Loan - A Manufacturing and Engineering, South East - 14359
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arbster
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Post by arbster on Jul 27, 2015 15:30:29 GMT
Twice today I've had loans on my watch list that suddenly disappear from the Lending Requests list once within 1-2 hours of closing. I can find them in my watch list, but if I try to click in to see the detail it takes me to the main Lending Requests list. Anyone else seeing this, or seen it before?
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arbster
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Post by arbster on Jul 27, 2015 13:28:50 GMT
Well, that'll teach me not to read all the recent posts before replying to the old poll...
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arbster
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Post by arbster on Jul 27, 2015 13:27:16 GMT
I'd be interested to see the results of this poll every few months. My suspicion is that the numbers may have changed a bit since April.
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arbster
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Post by arbster on Jul 26, 2015 13:08:19 GMT
Information is the conversion of data into actionable facts. These facts must be true and timely. Hence FC will be providing poorer information. This is a retrograde step and should be pushed back against. If they have a defaulting borrower I want them to tell me about it the moment they make up their mind, not just in some general marketing blurb. A blurb, BTW, that I consider a coplete waste of time. TELL ME ABOUT THE DEFAULTS WHEN THEY OCCUR! TELL ME! The immediate question this raises is: what will you do with the information? You can't sell your loan parts, and you can't influence the default-handling process. Almost the only time it actually matters is when you're filling in your tax return, so you know what bad debt you can offset against gains. Of course, if getting an email is the only thing that stops you constantly wondering if there's a default on one of your many loan parts, and probably checking the Loan Comments multiple times per day, then it's in both yours and FC's interests to send you an email, so you can rest easy and leave their poor servers alone
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arbster
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Post by arbster on Jul 26, 2015 9:58:46 GMT
There's a big loan promised for this coming week, which will inevitably see people sell some of their existing investments to free up money for the new one.
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arbster
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Post by arbster on Jul 25, 2015 5:42:53 GMT
For me I like ratesetter and do keep a small amount of my savings in it, however I am worried by the increasing default rate, now at 2.04% of paid back amounts and rising 0.02% a week for almost a year. Therefore I am drawing down but each investor must make their own decision. For me the biggest risk to ratesetter is reducing their lending criteria, I assume they have done this as the rates have risen in the past year and the average earnings of borrowers has fallen from around 35k to 31k with a lower % of homeowners. This worries me. Yes, these trends are of concern. I don't know how it works behind the scenes, but hopefully the higher risk customers are somehow being charged higher rates on their loans, so that they add more to the Provision Fund than the lower risk customers. Otherwise, they're being subsidised by the lower risk customers and/or lenders' money is being put at greater risk with no corresponding increased protection. As a small note, pip, where did you get the 2.04% figure from? The RateSetter info page suggests a lower rate on a year-by-year basis.
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arbster
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Post by arbster on Jul 24, 2015 15:19:34 GMT
Does anyone know if the Piper loan is still due to be repaid today? Says 01/10/2015 on the site, doesn't it?
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arbster
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Post by arbster on Jul 24, 2015 14:09:20 GMT
Thank you pepperpotIt's this insistence on the words "all manual investment targets have been cancelled and lenders will need to reset these if required" which concerns me.
If that is not what they mean, why can't AC simply say, "all manual investment targets have been frozen and lenders will need to reset or reactivate these if required"? I'm not an investor here, but am increasingly likely to become one having seen some of the exchanges from staff. However, my interpretation of the discussion would suggest that your revised wording might also be misleading, as in the event that you had an investment target of £1000 and a holding of £500, the system would not acquire any more units for you until you reactivated the investment target, explicitly. Hence, something like: "all holdings are frozen until lenders reset or reactivate their investment targets" might be more accurate.
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