dandy
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Post by dandy on Jan 18, 2017 13:49:52 GMT
I do not expect High Returns for this, to be honest, anything over 3% is good as long as there is Security and Easy Access to money
Thanks guys!
Please don't think that these are in any way a replacement for a bank account. There is no 100% security and no guarantee of liquidity. There is no FSCS protection. Only invest funds that would not be life changing to lose. Spread your investments as widely as possible and expect some losses. At best these will reduce your net income and at worst you will lose money. they are a replacement for a bank account. you do not get 100% security in the bank either and in fact you are GUARANTEED to lose money in a bank account when measured in real terms against inflation. keep your money in a bank account for ~ 50 years and close to 100% loss is certain
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dandy
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Lendy (L) in Administration
Mini bond
Jan 18, 2017 13:35:27 GMT
Post by dandy on Jan 18, 2017 13:35:27 GMT
wonder what the take up for this will be
the rate does not seem to be all that attractive
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dandy
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Post by dandy on Jan 17, 2017 10:28:31 GMT
Landbay - FCA said loans cant be pre-funded so we changed our whole model Octopus - FCA never mentioned pre-funding to us So that clears that up then
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dandy
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Post by dandy on Jan 10, 2017 20:11:23 GMT
SS need to keep writing loans of greater value than those entering negative territory for obvious reasons. how else can the payment of interest on negative loans be afforded. its a very simple business model. like cash flow projections and stuff Sorry are you suggesting that SS is a Ponzi scheme?
They wouldn't need to write loans of greater value as they only need the money to keep paying the interest for a Ponzi scheme, they would only need to write loans of bigger value if they were to pay out on the older loans. If someone on SS wants to take out their money then they sell it on the SM to another lender. Think you need to rework your business model, I won't say my next thought as it will only be redacted by a mod
No I am not suggesting that at all What I am saying is that they have to pay £1.5m per month in interest. If they are not receiving/holding that £1.5m in interest from existing borrowers because too many are overdue and not paying then they would need to make up the balance by writing new loans where they have a large chunk of upfront interest and can pay from that to balance things. at some point the negative loans must repay or the pf will need to be used
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dandy
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Post by dandy on Jan 10, 2017 19:27:16 GMT
SS need to keep writing loans of greater value than those entering negative territory for obvious reasons. how else can the payment of interest on negative loans be afforded. its a very simple business model. like cash flow projections and stuff
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dandy
Posts: 427
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Lendy (L) in Administration
I'm out.
Jan 10, 2017 11:39:56 GMT
Post by dandy on Jan 10, 2017 11:39:56 GMT
No, he has just moved from Roulette to Black Jack. Ah, but on blackjack it is the only game in the house where the odds (slightly) favour the gambler. Does rely on knowing how to play as an expert tho any game in a casino where the casino does not have an edge is illegal ...
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dandy
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Post by dandy on Dec 18, 2016 19:18:14 GMT
Depends on what the trigger event is, which will be outlined in the proposal. in this case a further equity investment, timing of which keeps moving but updates on goalpost position is provided by Stuart in the irregular updates. i thought it was max 2 years. do you know if they have been unable to raise equity since or not needed to?
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dandy
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Post by dandy on Dec 18, 2016 18:47:17 GMT
thanks @cooling_dude watch this space for a big announcement maybe. start a poll on likely valuations
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dandy
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Post by dandy on Dec 18, 2016 18:29:14 GMT
does anyone know the latest with this? when does any investment made on seedrs convert to shares and when do we know how many shares?
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dandy
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Post by dandy on Dec 18, 2016 18:22:42 GMT
I would have voted "bad", but decided not to. As, in another discussion, SS took exception to me suggesting they were being devious by altering update texts rather than adding new information separately dated (thus hiding from investors what they had written before), "explaining" on this forum that it was a result of a new system being developed, and requesting us to report other incidences if we found them, it has been reported that SS continues to do this. I don't know which SS minion made that excuse, but I still consider that SS is being devious. I don't care what he thinks, but SS directors need to come to grips with the fact that SS is now perceived that way, and it behoves them to explain and then abandon the practice. For that reason, I voted "appalling". PS If the directors are (still?) hoping to sell the platform in 2017, I suggest they should do their utmost to have it perceived in a positive light. They might get a better price. Any details of this anywhere?
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dandy
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Post by dandy on Dec 15, 2016 19:40:21 GMT
Perhaps they have stopped accepting new funds as they have come to the realisation they won't be getting FCA approval?
Come me to think of it perhaps that's why they've decided to become a bank
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dandy
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Post by dandy on Dec 14, 2016 18:13:35 GMT
tempted to talk about my new venture.... Loansetter coming soon???
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dandy
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Post by dandy on Dec 14, 2016 10:42:24 GMT
An interesting blog has appeared on Abundance citing likely increase in EU limit for crowdfunding without needing a full prospectus. blog.abundanceinvestment.com/2016/12/eu-crowdfunding-rules-set-to-change/However I am a bit confused as some development loans on SS have been above the 5 million Euro anyway and there did not seem to be full prospectuses issued/ It is also interesting that the UK argued for a 10 m limit so it seems that this increase in limit will survive Brexit. On some other threads concern has been expressed about the supply of suitable loans drying up and leading to a reduction in interest rates, but perhaps this new limit might have an opposite impact. this relates to raising funds by way of equity (selling shares). nothing to do with borrowing money for which there is no limit
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dandy
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Post by dandy on Dec 9, 2016 9:32:07 GMT
- the plans some firms have for wind-down in the event of their failure are inadequate to successfully run-off loan books to maturity
a central body could be funded (by the platforms) to step in and run down the loan book. Great idea!
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dandy
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Post by dandy on Dec 9, 2016 9:24:52 GMT
The biggest platform with a provision fund is obviously RS but personally I think that RS do a decent job in disclosing the details of their provision fund, how it works and the impact of increased defaults.
Some of the the smaller platforms however provide very little detail on their PF and in some cases their PF is so laughably small (in % terms) that frankly they should be banned from advertising it's existence ... other platforms give no/insufficient detail on how their PF is deployed and should therefore also be banned from advertising it
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