littleoldlady
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Post by littleoldlady on Jun 30, 2019 12:26:34 GMT
Dividends should be new wealth, created by the company using shareholders funds. Trading is a zero sum game so any profit is at someone else's expense (even if only an opportunity cost).
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littleoldlady
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Post by littleoldlady on Jun 29, 2019 7:56:02 GMT
So who got the 40% "introductory fee". We Still Don't know.
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littleoldlady
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Post by littleoldlady on Jun 27, 2019 15:01:43 GMT
Is there any fund manager who does not charge a fee but takes a cut of profits? There are Investment trusts (and possibly funds) that do both in charging a fee and then a performance fee.But there is Orbis investments who do what your asking in only taking a fee on beating a benchmark on a sliding scale or refunds if they miss their target but the only problem is they only run Two funds at the moment i believe But If you think a manager with incentive is a good thing its also worth looking at IT's as they will have a board & sometimes poor performance will lead to a change of manager or its easy to search online for fund managers with "skin in the game" Well it's not so much that I think the manager will do better with an incentive, I suppose that all managers are trying their best to make a profit, (and as pointed out above incentives can be manipulated) it's just that it sticks in the craw to pay someone who has lost my money.
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littleoldlady
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Jun 27, 2019 9:18:10 GMT
Post by littleoldlady on Jun 27, 2019 9:18:10 GMT
Is there any fund manager who does not charge a fee but takes a cut of profits? There are many, but the incentive, for such a manager, is to take a high risk. Perhaps the fund manager has another fund that takes the opposite high risk. Double one and take 20% of that and take nothing of the 70% loss on the other and they have still made 10% on funds under management at the start of the year. It isn't easy to work out what the best strategy is for the smaller investor. Another fund manager might see your investment (rightly or wrongly) as free leverage.
[Say you assume that the risk free rate is 2.5% and therefore making 5% has the same probability as making 0%, with 20% of gains you have about a 50% chance of 1%, or take a crazy risk, perhaps 40% chance of 25% gain, or 60% chance of 40% loss, that is a poor risk, but still, on a single year is much better for the fund manager.]
There are no easy answers, it is one of the main arguments for those who aren't 100% sure of their own strategy to buy some appropriate combination of low fee index funds - see my post, 2nd in this thread. My personal opinion is that it seems unlikely that the vanguard all world index is the best index for everyone to track. Is it even possible for everyone to track the index? Who would they be tracking? I have seen it suggested that there is already too much money tracking for the market to operate properly.
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littleoldlady
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Jun 26, 2019 22:02:39 GMT
Post by littleoldlady on Jun 26, 2019 22:02:39 GMT
As an aside I hear fund managers eke out a good living. Is there any fund manager who does not charge a fee but takes a cut of profits?
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littleoldlady
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Post by littleoldlady on Jun 26, 2019 11:29:20 GMT
Originally they took the first 20% of each loan, ranked after our 80%. Then they changed it to their taking the first 5% ranked after our 95% but "guaranteeing" the first 20%. I suppose that this was because they had insufficient capital. Now they have dropped the guarantee, either under instruction from the FCA or because they don't have confidence in their loans.
When they made the first change they claimed it made no difference to us but I said it would probably affect their attitude to repayment risk.
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littleoldlady
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Post by littleoldlady on Jun 26, 2019 8:22:36 GMT
I have never understood how the FCA ever allowed them to use the word "guarantee" and I suspect they have just woken up to the fact and told K to drop it.
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littleoldlady
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Post by littleoldlady on Jun 23, 2019 15:23:19 GMT
Lloyds Club allow two accounts, if one is in joint names, with 2xDDs (which is a bit of a faff, any easy DD now after Tesco?), which allows the free 6x cinema tickets per year Any others worthwhile (without DDs, unless someone has a good solution for these)? Some charities, eg Cancer Research will allow a DD of £1 per month
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littleoldlady
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Post by littleoldlady on Jun 18, 2019 11:27:47 GMT
24/05/2019
By way of a brief update, a meeting was held yesterday. Whilst we cannot divulge the details of this meeting, it has been agreed that a further week will be given (4pm on Monday 3rd June), to make a proposal. Failure to meet this deadline will result in claims being issued.
Well, were they?
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littleoldlady
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Post by littleoldlady on Jun 16, 2019 14:38:35 GMT
Any scheme which relies on new entrants to pay dividends (or other payments) to current participants is a Ponzi. Everyone makes money except the final tranche who pay for the profits made earlier plus the scheme overheads. It therefore pays participants to encourage new entrants to keep it going. Eventually it must burst, but you can make money if you take profits before then. Just remember that the profit you make is going to be paid by someone less lucky.
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littleoldlady
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Loanpad (LP)
Loanpad
Jun 16, 2019 14:04:32 GMT
Post by littleoldlady on Jun 16, 2019 14:04:32 GMT
Yes, that as well. They are quite different platforms but as it happens they both pay c4%. The premium of c2.5% is not much to cover the possibility of a capital loss and the absence of FSCS protection. With a bit of effort I get 3.8% on £80k of secure capital from Banks and BS special offers using family members, preferably non-tax payers. Each grandchild (I only have one) can get 2.5% on £50k and 3.5% on £5k from Nationwide. Most banks offer up to 5% on regular savings accounts with limits. There is some admin involved so maybe more suitable to retired people. If I could invest all my cash this way I would not bother with the likes of LP. Take £20000 of the 80K and actively manage it in 12-15% P2P and you will make the same or more than you do on your whole sum in a year. With such a relatively small sum getting 15-20% tax free is attainable with a little effort to reduce loss risk.
Yes, unless you invest in Collateral or Lendy (or IMO FS). I can make 100% or more in about a minute on a roulette table. If it is money that you cannot afford to lose, or would seriously hate losing, IMO you should put the first chunk - depends on your circumstances but typically £50k-£100k - into a portfolio of bank special offers which will comfortably provide a guaranteed real return. The second chunk might go into low interest rate accounts like LP and OC, and then beyond that gamble with the high rate platforms.
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littleoldlady
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Post by littleoldlady on Jun 14, 2019 6:57:47 GMT
Today is freedom day for me. Finally cashed out completely. Although I am down 7k with PM it could have been so much worse. I hope this new investment vehicle does better for remaining investors than I think it will Me too. I would love to know how I did overall on this platform, but cannot work it out from the information provided. I have painstakingly downloaded all transactions. This has to be done in 3 month chunks and then stitched together which is a pain. I then sorted into transaction type and attempted an analysis. First I compared Credits with Debits. Credits appear to be subscriptions, but some are associated with a particular property and others just say Property Moose Account but AFAICS they are all debit card payments. Debits appear to be withdrawals. Debits minus Credits gives me a profit of £4k which really surprises me as I expected a loss, and I cannot reconcile this figure against the other transactions. Transactions which I expect to credit my account are Cashback, Interest, Property Sale, Refund, Rent, Return Of Capital and Sm Sale.Transactions which I expect to debit my account are Investand Sm Purchase.
Comparing the totals of these two types gives me a profit of a different figure Can anyone spot a flaw in my calculations? I suppose I could try to analyse 5 years bank statements, if it is possible to download ones that old. Edit: just spotted an error, the difference between the two results is now only £1k.
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littleoldlady
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Post by littleoldlady on Jun 8, 2019 21:09:18 GMT
Their p2p website seems to have been taken down. A bit premature when they are still holding lenders' funds. Michal I guess you didn't login recently enough to see their "please save this URL" message that was on there. Try platform.goji.investmentsThanks. No reply from Michal so it looks as if Goji are no longer monitoring this forum.
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littleoldlady
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Post by littleoldlady on Jun 8, 2019 16:44:23 GMT
Their p2p website seems to have been taken down. A bit premature when they are still holding lenders' funds. Michal
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littleoldlady
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Post by littleoldlady on Jun 7, 2019 11:30:35 GMT
Follow the money. EVERYBODY certainly does pay for every advertising-funded media source. The commercial TV channels alone cost the average household several times the licence fee, annually. It's just disguised through marketing budgets and the price you pay in shops, rather than being overt. Yikes! That means that I am paying for the Guardian every time I buy something in the shops. Ugh. Unless I restrict myself to products never advertised in publications which I detest. But how do I find out which they are without buying copies? Sigh.
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