greenslime
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Post by greenslime on Oct 7, 2020 17:01:57 GMT
Was this the Royal Engineers group of which I wrote at the time -
'I'm not a medal dealer or a collector, but the valuation seems high. GSM with NI clasp and SAM awarded to a Royal Marine went for £860 at auction last year - even allowing for the fact fewer RE than RM were awarded the SAM, making it a bit rarer, I don't see how the addition of a Military MBE and the ephemera makes this group worth £6,550, let alone £20K.
But then I don't understand the whole collecting thing ...'
Just asking so that if it is I can sit here being a smug ****
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greenslime
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Post by greenslime on Apr 9, 2020 15:05:06 GMT
Are there that many thick people that buy this way? Why would you pay very high for a new fridge when you can get a second hand one for the cost of 1 months interest? Given that these forums have seen people claim to have invested their entire savings into P2P on the basis of a 12% return and then be surprised when loans/platforms go bad, I don't think the unfortunate folk who have to resort to this sort of borrowing have a monopoly on thickness …. While I don't find it a particularly endearing business I am prepared to hold my nose.
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greenslime
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Post by greenslime on Jan 20, 2020 22:41:29 GMT
Aware of similar operations on the west coast of Scotland that do well. But note that the west coast offers more opportunities for scenic/tailored cruising IMHO, and one of the operations I mention contributes (indirectly) to Greenslime's Retirement (Coke'n'Hookers) A/c No1. You could do it on the east coast, you would just have to try harder. Not exercised about clagging electronics to the boat's masthead IOT track it in the event of loan problems - by the time that becomes a factor your ship has sailed (see what I did there?).
So they can have my minnow contribution.
That said this is one I where, after instant returns are paid, I will be on a short fuse to sell at the first whiff of problems, unlike many ABL loans where I doze happily while collecting my returns.
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greenslime
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Post by greenslime on Dec 1, 2019 1:17:25 GMT
I stand to be corrected but I understand that under the Financial Services Act 2012, the FCA cannot be sued for libel or damages unless it was acting “in bad faith” or unlawfully.
It's more than just annoying but all you can expect is discretionary compensation and that is without any admission of blame on the part of the FCA. Yes, they are a law to themselves - staffed often by failures from the commercial sector.
I believe they can be sued under the Human Rights Act, and it specifically includes govt agencies that are otherwise immune to Court actions. I cannot see which of the rights protected by the HRA have been infringed here.
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greenslime
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Post by greenslime on Aug 21, 2019 15:11:38 GMT
I'm going to give this one a shot as offering an eventual resolution of #67 and 68.
'Good money after bad'? Gawd knows. The phrase that comes to mind is the German 'Flucht nach vorn' - an escape forwards, with overtones of having little other option ….
pretentious, moi?
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greenslime
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Post by greenslime on Aug 4, 2019 19:56:10 GMT
I notice the latest update states there have been 'firm inquiries' from various parts of the globe by those interested in operating these vessels in roles other than that for which they were designed. Very reminiscent of the endurance boat being presented as having the potential to be reincarnated as a service vessel in the North Sea. I admit my experience of shipbuilding is limited (assembling the Airfix kit of the Bismarck many years ago is as far as it goes) but I've got to say I'm a wee bit unconvinced that there's a great market for these outside the specialised role for which they were designed - but doubtless FS are taking expert advice to assess the true potential.
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greenslime
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Post by greenslime on Jun 5, 2019 12:52:15 GMT
I think those of us who are active investors in many different platforms and participate/consult forums such as this are at the forefront of knowing whats going on in p2p. The newspapers are so far behind the curve on these things that its laughable really. These guys haven't been investing in p2p over many years and platforms as many of us have. The collective knowledge of investors on this platform is multiple times higher than any newspaper journalist and I base my investment decisions on what I am experiencing personally as opposed to the completely out of date stuff that appears in the papers. One advantage journalists is that they can place a bunch of calls in an afternoon and expect to be able to speak to company representatives, pundits etc and so get a reasonably up-to-date picture of what's going on. They may also be less subject to confirmation bias. Our view of the industry may be more detailed, but could be lagging in some respects. From my experience in a specialised field totally unrelated to finance I have a rather less rosy view of journalists' ability to acquire, analyse and accurately report information on anything more complex than the AGM of the Upper Netherton Womens' Institute.
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greenslime
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Post by greenslime on Jun 1, 2019 0:48:35 GMT
As my list of unpaid loans starts to creep onto the 3rd page, I am becoming increasingly frustrated by the lack of coherent and meaningful updates from Ablrate. Good to see that someone else uses the same sophisticated metric .... I'm not exactly frustrated - but I'm a little less relaxed about Abl than I was 12 months ago
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greenslime
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Post by greenslime on Apr 23, 2019 17:11:19 GMT
Looks as if those bloody pesky bank holidays have slowed up the payment transfer I think the reason for the delay FS will use is more likely to be due to a variety of "court" problems with payment rather than the Bank Holidays. I would have thought that Bank Holidays delaying payments would be an excuse that FS were saving for next month as there are 2 Bank Holidays - one at the start of the month and one at the end of the month so they are nicely spaced. Anyone care to guess the reason FS are likely to use for a delay in the payment transfer for June, July, August, September October, November? For December the excuse will obviously relate to Christmas so I'm not looking for suggestions as to why the payment transfer will not occur in December. What surprises me is that FS haven't used the Brexit card yet. Perhaps that's one they are saving for October. At least we could enjoy ourselves suggesting the most improbable excuses FS will use this year as to why the payment transfer has been "delayed". We could even think of and suggest the even more improbable reasons we can think of as to why this loan is still "active". Am I right in thinking the equity partner is ME based, or at least is trying to extract funds from a debtor through a ME court? If so, Ramadan will serve as a useful excuse for most of May and early June, and Eid al-Fitr will account for a couple more days at the end of it.
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greenslime
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Post by greenslime on Apr 5, 2019 16:40:58 GMT
Any bets on when the funds will clear then? How about a small side wager on AML rules delaying any further transfer if/when the equity partner receives the funds? That's always a favourite.
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greenslime
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Post by greenslime on Mar 21, 2019 18:04:48 GMT
So fundingsecure was the money released to the equity partner today? When will they be transferring it to the borrower? When will the borrower be transferring it to you? And most importantly, when will you be paying out to us? And then when can we expect future instalments? So many questions, so little cash flowing my way.
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greenslime
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FundingSecure (FS) in Administration
Hall of Shame
Mar 20, 2019 16:52:16 GMT
Post by greenslime on Mar 20, 2019 16:52:16 GMT
A paltry 27.4%
And the realisation that the last time I actually had any money out of FS was Apr 2018
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greenslime
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Post by greenslime on Mar 13, 2019 17:55:03 GMT
Withdrawn, not coming back - instant returns will be paid. So says latest e-mail
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greenslime
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Post by greenslime on Mar 4, 2019 22:57:50 GMT
Based on the pasted section below from the fs website, surely if the worst happens and these loans go bad, lenders must have a claim on fs. This clearly claims that they will have control over the artworks and that they are fully insured. That being the case how could lenders not hold them responsible given that they appear not to have had a number of the artworks they loaned our money against under their control, as they stated. Surely this is breach of contract? Just wondering what people’s thoughts were on this. Sending your art to us Art work may require specialist transport. Depending on where the items are being stored, we can arrange a private collection of your items from your home or simply take over an existing account at a storage facility. Alternatively, you can arrange to have the items brought to our storage facility. Storage and insurance We work with three specialist storage facilities: London, the north of England, and Scotland. All artwork is stored carefully, under 24/7 CCTV. All assets are fully insured up to their appraisal value whilst held with us. A non-lawyer asks - are those a) generic statements or b) ones made in regard to these specific loans? Because if FS did not explicitly state that they held the pieces as security for those specific loans then surely there's no basis for a claim? I invested in some of these loans on the assumption that FS held the art because 'that's what they do', but me assuming something doesn't mean it was part of that specific contract.
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greenslime
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Post by greenslime on Feb 20, 2019 18:42:02 GMT
I wrote to my MP, who raised a complaint with the FCA on my behalf. Probably because he is a senior government minister, he received a reply personally signed by FCA Chief Exec Andrew Bailey. The reply includes the admission the FCA “are currently investigating the affairs of Collateral, including the circumstances which led to its details appearing on our register as an authorised firm when it was not duly authorised”. Yes … the circulation of a folder marked 'Ministerial Correspondence' does tend to quicken the step and loosen the bowels of the most intransigent civil servant …
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