Investor
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Post by Investor on Jul 11, 2014 12:52:17 GMT
..............................................and might not work if you need to raise a large sum. Knowing how much investor money was on the SM for each loan would clearly be tremendously useful, and I would definitely welcome such an enhancement. I only commit money to these loans that I am happy to leave there to term if necessary, even with the existence of an SM. Really, there shouldn't be a 'need' to raise a large sum. After all, 6 months and 12 months are not such long timescales. But that view would mean there should be no need for a SM, and I think we've already seen clearly how having it brings more money into the platform than would probably otherwise arrive. (And although I'd be happy to leave all the money in the loans, I've probably been one of the most active sellers on the SM up to this point). There aren't enough active lenders or SM activity at the moment to have made this a huge problem to date, but going forward, the number of larger (and hence underwritten) loans is growing and the number of active lenders is certainly growing. Who knows - the length of loans might end up growing longer too? If the SM is to function properly, then I would think it would become vital to know how much is ahead of you to be sold. WARNING: This post is little more than a lame excuse to see if I, a semi-committed technophobe, could actually add an attachment. Following on from RR's perception of growing investor numbers on the platform, I thought it might be interesting to see how the growth rate actually looks. Given a linear growth rate and an acceptance of a minimal quantity of data points, the platform would appear to be looking to break the 1000 Investor barrier at 14:24 on 16th September this year (roughly). Obviously the number of loans coming through between now and that date will be a significant factor in achieving this target. And now for the moment of truth:
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Investor
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Lendy (L) in Administration
New Loans
Jul 11, 2014 11:33:49 GMT
taca likes this
Post by Investor on Jul 11, 2014 11:33:49 GMT
Anti-climb paint (also known as non-drying paint, anti-intruder paint, anti-vandal grease) is a class of paint consisting of a thick oily coating that is applied with a stiff brush, trowel or by hand using a protective glove. In appearance it is similar to smooth gloss paint when applied but it remains slippery indefinitely thereby preventing any intruder from gaining a foothold. Other than Death and Taxes, there are no certainties
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Investor
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Post by Investor on Jul 11, 2014 11:30:30 GMT
Fortunately was able to pick up a 0.01p on the SM earlier today. You did someone a nice favour...the seller will appreciate it - now as for the miscreant who left the lonely penny in the first place... More seriously, I think Saving Stream need to prevent this from happening, since without helpful people like Investor, it could leave loan parts festering for days (and the original seller unable to realise their sale, nor earning interest). E.g. if you purchase a loan part, should not be allowed to leave less than, say £20 left. This is another reason why it is quite risky to sell in large chunks on SS. Excellent idea. Hopefully savingstream will spot this thread and put something in to stop this as this is the second time now someone has taken one for the team to ensure a loan part does not get caught in SM purgatory. To be fair could just be a typo on the SM purchasers part rather than them being a devious malicious miscreant. Like the idea of a minimal residual amount on any SM offered forcing the final purchase to fully complete the transaction.
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Investor
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Post by Investor on Jul 11, 2014 11:11:24 GMT
Damn Works well with a particular high street bank who pay me 1p interest on my 1p savings every month. I withdraw the whole interest payment on the 2nd of each month and wait for next month when it magically turns up again. If anyone has any legitimate investment opportunities that can beat this annualised rate of return please let me know. And before you ask the obvious question, yes I have tried opening multiple accounts.
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Investor
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Post by Investor on Jul 11, 2014 10:50:24 GMT
Am I dreaming? Wasn't this loan at stage 4 and shortly due to go ahead? It's showing at stage 3 in the list now (awaiting valuation). Did it just disappear, and others have been renumbered? I didn't keep a close enough eye on the values to be sure what's going on. Or maybe I'm just muddled - wouldn't be the first time Yep. Was only a small loan and appears to have disappeared with 007 and 008 now being promoted/renamed to 006 and 007. It also had notes in the notes section suggesting a drawdown in the next week following solicitors communication, although those notes had been there for >1 week. Looks like we have another long wait for the next loan. Fortunately was able to pick up a 0.01p on the SM earlier today so at least achieving my anticipated run-rate. Can't wait to see how savingstream handle my interest on that one, but assume all interest will be rounded up to the nearest penny.
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Investor
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Chat
Jokes
Jul 10, 2014 22:13:08 GMT
Post by Investor on Jul 10, 2014 22:13:08 GMT
Man walks into a bar
Ouch! It was an iron bar
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Investor
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Post by Investor on Jul 10, 2014 18:37:34 GMT
Thanks Merlin. I do have the email and was interested in others thoughts so feeling like a gooseberry stuck outside the dedicated board.
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Investor
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Post by Investor on Jul 10, 2014 15:34:56 GMT
You'll have to bear with us possibly for a couple of days, there is slight hiccup on comms at the forum end at present. Sorry. There is however little happening on the private board at present, so don't get too worked up about it. Any update on this. My request is now quite old and whilst accepting there is little happening on the board at present, my gut instinct suggests that could perhaps change quite significantly at any point soon, and would appreciate access should anything change. Or 'is now a better time to get worked up about it'?
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Investor
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Post by Investor on Jul 10, 2014 9:53:32 GMT
I have, of necessity, 'Liked' your post as was unable to find an option to 'Not Dislike' it.
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Investor
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Post by Investor on Jul 9, 2014 18:51:23 GMT
Was thinking the same thing and thinking it may be 007 as the significantly larger of the two might come through, hence the reason for the 005 firesale. Maybe savingstream need a new stage in the pipeline as many loans have sat at stage 4 for exceeding long periods of time. Suggest Stage 5 "going to go live in the next 24 hours, guaranteed, honest guv"
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Investor
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Chat
Jokes
Jul 9, 2014 15:34:02 GMT
Post by Investor on Jul 9, 2014 15:34:02 GMT
And then you believed her?
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Investor
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Post by Investor on Jul 9, 2014 14:41:22 GMT
Should this be re-titled "Would you Like a Like Button"? Or "Do you dislike having the Like button removed" (albeit the existing votes would have to be flipped). Think you may need to re-think this one. I personally believe that a question regarding liking the like button and disliking the removal of the like button, although not in themselves necessarily diametrically opposites are likely to produce similar results in any poll. Your supposition that the existing votes would need to be flipped is thereby demonstratively incorrect. I have delayed this post by over a month to give you the opportunity to have come to this conclusion yourself, wondering if being given some quality time to reflect on your post would help. However now I have suffered a month of sleepless nights, I feel that I can no longer delay as there would be a large and growing group of members who, given your elevated status of a moderator, will now have succumbed to your misguided representation. As for the two following post both made by Administrators who have also failed to enlighten you on how critical it is to make fair and accurate commentary within the forum, the less said the better. Of course you could always edit the post to read "Don't you dislike not having the Like button not removed" and then your point would be well and elegantly made, or simply mod this entire post into the long grass. Kind Regards
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Investor
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Post by Investor on Jul 2, 2014 9:35:13 GMT
There's a classic prisoners dilemma game here. My best strategy is to keep an eye on the percentage filled and if it looks like getting near target on or before the 7th, then dump my cash in and take the last remaining bit, so ensuring that I don't buy it unless there will definitely be cashback. Of course, if everyone follows this strategy, then no one will buy anything and nobody will get any cashback. Closer in fact to the iterated prisoners dilemma, the standard prisoners dilemma involves a single 'share' or 'steal' decision however in this instance their are multiple prisoners (us) and an opportunity in advance of your decision to view how the other prisoners are reacting. The loan is already down to 230k with some larger investments being shown on the recent activity tab which depending on your optimistic persuasion will give at least some indication of whether the total will be achieved. I certainly understand the logic behind savingstream decision to try to boost funding for this loan, however as previously mentioned it is to the detriment of the early investors. Wonder if savingstream have considered that with this new knowledge there may be a significant group of investors who when PBL006/7/8 (all at stage 3 and 4) go live, decide to wait and see if they can get a better offer in the second tranche of loans and therefore there will be significantly less early adopters whilst we wait the 'auction' out to see how high savingstream are willing to push the cashback on each loan. Simply solution is to retrospectively pay the early investors the new or final cashback rate as if they had sold their loan part and re-invested. You can't have your cake and eat it, unless you buy two cakes!
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Investor
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Post by Investor on Jun 27, 2014 14:43:32 GMT
Congratulations once again to savingstream for listening to the comments on the forum. This will certainly make a difference to deposit methods and the fight for loan parts on the lower priced loans. Could someone savingstream just confirm that the BACS payment details for this payment method are the same as they were beforehand, or whether the account number and sort code have changed.
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Investor
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Post by Investor on Jun 10, 2014 20:25:31 GMT
Once again congratulations to SavingStream for discussing these options on the forum and finding (and coding) a very pragmatic and sensible solution to how to flexibly divide this loan. As per previous discussions could SS please note that some of us are now in the situation where in trying to avoid unnecessary 'leakage' from the ecosystem (SS profit) via the GoCardless payment method, we now sit and wait for a sizeable BACS transfer to hit our SS account in advance of the loan being fully funded. In this particular case, because of the size of the loan, it looks like this payment method will work, however for smaller loans I will in future be using GoCardless irrespective of any requests in the notes for maximum payments as I do not feel that my investment strategy should be affected by my (your) preferred payment methods. As the notes suggest a maximum of 1k for GoCardless, could you confirm whether there is any financial logic in future of making multiple £900 payments via the system or whether the net effect of doing this is the same as a single large payment. Just trying to understand whether either way is beneficial to your bottom line. I also hope this may increase the drive towards a debit card direct payment option to be added to the site so we can finally put this issue to bed, a simple calculation of your current GoCardless costs vs the cost of getting this work done may help show the value of the change. My tuppence worth and fingers crossed that I don't miss out on this one
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