jaswells
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Post by jaswells on Oct 2, 2020 7:04:16 GMT
I agree, everything from the huge marketing budget, the customer services and the financial chicanery at every juncture, appear to have been desgned to maximise theri returns in a pre-planned sequence of events. If not, certainly a scheme that developed over time. There is no integrity here, none.
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jaswells
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Post by jaswells on Oct 1, 2020 23:27:04 GMT
A couple of years ago I was in communication with Wellesley and somehow dug up that each director was on about 400k per annum. It seemed bizarre at the time that a blatantly unprofitable company was siphoning off so much money to its directors. I feel disgusted now that I defended this bunch online as they hid behind their image and good customer services instilling false confidence in joe public.
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jaswells
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Post by jaswells on Sept 25, 2020 8:49:03 GMT
Yes, one of the sad aspects of Wellesley is that despite good customer services and strong communication throughout they have ultimately lined their pockets very nicely at the expense of investors. Their accounts have always revealed HUGE compensation for directors , even when there was no profitability in the company and now this exercise is purely a way to milk more from the company before its demise (instead of the administrators). It is a lose lose situation now for investors.
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jaswells
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Post by jaswells on Sept 22, 2020 9:26:18 GMT
The Times seems the best informed "Aristocrat's Investors meet their Waterloo" 1, Property backed mini bonds up to 84p in the £ 2, Other mini bonds - effectively total write off 3, Nothing on legacy P2P loans (with off?) 4, Any cash back will come over 18 months 5, Option to swap in to equity (why would anyone do that?) 6, Details on CVA to be sent out on Thursday 7, Duff and Phelps are acting as restructuring adviser Its a sad day. Wellesley was one of the pioneers of P2P, I have long been a defender of them but they made mistakes and the writing has been on the wall for a while now. It seems pretty clear now that p2p companies just cannot offer 4% + returns to investors on development loans and survive long term. They may be able to remain small/ bespoke and focus on a sector they have good knowledge in but in general such loans are just too unstable. We still wait with baited breath on other P2P companies but the the pool has shrunk significantly in the last year or so.
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jaswells
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Post by jaswells on Sept 15, 2020 12:02:23 GMT
It is of course mere speculation until Wellesley make an announcement.
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jaswells
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Post by jaswells on Sept 14, 2020 12:02:47 GMT
I wouldn't hold your breath Wellesley has made the decision to suspend maturities on all upcoming investments amid ongoing market challenges. This means that the final interest payment and capital on your 5 Year Wellesley Mini-Bond - Series 1 will not be paid into your holding account tomorrow as scheduled. Wellesley will be making an announcement with further information regarding your investment in the next seven days. Please keep an eye out for this email in your inbox. Oh dear!
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jaswells
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Post by jaswells on Sept 12, 2020 10:19:13 GMT
As has been the problem now for years and years, you can read a few lines of any article and know almost immediately whether it was written by a remainer or brexiteer and therefore everything that follows is one sided and politically charged. No different here as clearly a remainer perspective. Ultimately Brexit must now get done, be it no deal or not, suspended animation cannot continue.
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jaswells
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WiseAlpha
Hipgnosis
Sept 6, 2020 23:00:03 GMT
Post by jaswells on Sept 6, 2020 23:00:03 GMT
Thanks for this treetop, it is an interesting fund. I wonder how they encourage the artists to part with their catalogue and royalties. Many are young and unless they buy at a huge premium (seems likely considering the debt they are accumulating) it does not seem a wise move by the artist (some may be distress sales of course, although unlikely for most).
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jaswells
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Post by jaswells on Sept 4, 2020 10:26:30 GMT
Should one take up the offer, I cant get my head around if its a good idea?
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jaswells
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Post by jaswells on Aug 29, 2020 7:47:59 GMT
In the early days the spread companies were pretty inefficient and took more risks. Particularly in sports spread betting. Every day a wide range of mis-priced spreads were set up. Often the spread firm was slow to respond to company news, changing conditions at an event or even non participants. "Arbs" were daily and common if desired. The spread companies monitored and closed primarily "arb" players. In sports 2 companies made such losses they couldn't continue - Igsports and CantorSports. Yes, back in those days City Index also offered sports spread betting, as did William Hill, and both of these also closed down. Poor old Cantor - both their sports and financial spread betting outfits were unsuccessful. I think the main players now are only Sporting Index and Spreadex and Star Spreads. Cantor were a basket case, completely inept with opportunities for the trader left, right and centre. I'm a firm believer that if the spreads firm is profitable and efficiently represent the underlying market your only hope is some form of insider trading. In which case you might as well buy into the actual market as any firm won't let you do this repeatedly as they will have red flags flashing all over their dashboard.
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jaswells
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Post by jaswells on Aug 28, 2020 22:52:37 GMT
Do you have an "edge"? If not, what makes you think you know better than the market? In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed. Out of interest, what was your edge back in 1999 ? In the early days the spread companies were pretty inefficient and took more risks. Particularly in sports spread betting. Every day a wide range of mis-priced spreads were set up. Often the spread firm was slow to respond to company news, changing conditions at an event or even non participants. "Arbs" were daily and common if desired. The spread companies monitored and closed primarily "arb" players. In sports 2 companies made such losses they couldn't continue - Igsports and CantorSports.
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jaswells
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Post by jaswells on Aug 27, 2020 12:23:38 GMT
Do you have an "edge"?
If not, what makes you think you know better than the market?
In the early days of spread betting (circa 1999), I had an edge. My account was eventually closed down. Doubt much has changed.
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jaswells
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Post by jaswells on Aug 19, 2020 11:24:16 GMT
Fixed Term Savings rates now been introduced. Range from 1.05% for 1 year up to 1.3% for 5 years. Can't see there being too many takers.
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jaswells
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General P2x Discussion
who's next!?
Jun 17, 2020 21:19:34 GMT
Post by jaswells on Jun 17, 2020 21:19:34 GMT
Out of the frying pan ..... ? At least the risks are transparent with the stock market. I've done a similar thing, moving p2p to a mix of funds including some gilts and bonds. I'm working on the principal that over 10 years we'll see something positive from it, even if the next two or three years are bumpy. I think maybe you have not traded in the AIM market too much then?
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jaswells
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Post by jaswells on Jun 14, 2020 21:52:24 GMT
Hi,
Firstly, has he made a redemption request? This is an annoying but necessary step. This can be done online and W ask for this to be done within a few months before redemption date.
Secondly, as long as the first point has been completed, it will automatically redeem and cash will be returned to his Wellesley account.
Finally, he will need to make a withdrawal request from his account to designated bank account.
Hope this helps.
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