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Post by robberbaron on Jan 31, 2024 18:57:39 GMT
Anyone knows if you can use the Flexible ISA feature to withdraw the cash and then put it into say a S&S ISA. This article seems to suggest that you may be able to:
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Post by robberbaron on Sept 12, 2019 17:01:58 GMT
Quiz: What do you call a financial scheme which relies on an ever increasing flow of new investors to pay out the returns of earlier investors?
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Post by robberbaron on Sept 2, 2019 12:13:20 GMT
I'm not trying to defend 4thway but the date on that article is April 2017. Not trying to attack 4thWay but that means they've had more than two years to amend/remove that article.
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Post by robberbaron on Jul 27, 2019 7:20:48 GMT
UK and US national debt will never get paid off. Depends what you mean by "paid off". A country can always pay off a debt denominated in its own currency no matter how large.
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Post by robberbaron on Jul 27, 2019 7:14:48 GMT
For the uk to match the military spending of the US it would have to divert all spending from education, pensions, healthcare. Interesting theory a country can be a military superpower or have a welfare state. I know what the voters would prefer. Factually untrue. The military is only 16% of the US government total spending. The rest is mainly social spending. The US has both a massive military and a gargantuan welfare state.
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Post by robberbaron on May 27, 2019 17:14:23 GMT
Luckily I invested very early in boaty SS and took my money out over a year ago. I still have a low 3 digit sum stuck in defaulted loans but I have made many times that amount over the early years. I don't think investing in SS initially was a bad idea but bad incentives have caused the quality of loans to really deteriorate over the years especially around the time when available loans were drying up and Lendy became desperate to satisfy demand and keep volume up by providing anything regardless of quality, even going as far as lowering interest rates for very risky development loans.
The FCA needs to realize that telling P2P platform to be paid upfront and have no skin in the game is a recipe for disaster.
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Lendy (L) in Administration
Lendy Wealth
May 27, 2019 16:44:25 GMT
via mobile
ozboy likes this
Post by robberbaron on May 27, 2019 16:44:25 GMT
In theory they would have known which loans were better than others and front-running the secondary market, they could have built a superior portfolio of loans to all self-select investors. After everything that happened why on Earth would you expect Lendy to have built a "superior portfolio" for LW? What was in it for them? At best I expect them to have just proportionally allocated the funds to all available loans, at worst to have shafted the absentee lenders with all the loans that wouldn't attract any capital otherwise.
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Post by robberbaron on May 27, 2019 10:35:30 GMT
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Post by robberbaron on May 27, 2019 10:13:01 GMT
The average annual total return of both the FTSE all share and the S&P 500 over the last 30 years is in excess of 10%. Not necessarily disagreeing with your main point but the average annual total return is a worthless statistic. What matters is the annually compounded total return.
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Post by robberbaron on Apr 25, 2019 19:47:58 GMT
Be that as it may, knowing full well the "True" Valuation, and still foisting an Inflated Valuation on Lenders, there's a five letter word for that isn't there, begins with "F"? Good luck proving that the "F" word applies here
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Post by robberbaron on Apr 15, 2019 12:37:48 GMT
I always advocate getting out before funds are locked in. Generally there is little downside to this strategy. Yes there is when liquidity on the SM dries up which usually happens when you need it the most because everybody thought they could just pass the parcel to the next idiot.
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Post by robberbaron on Apr 15, 2019 12:35:45 GMT
I agree with your point that platforms are typically hiding losses. But the public companies do the same, until the moment the new boss takes over then they write off everything the least bit bad, blaming the old boss, so the new boss doesn't have to worry about any skeletons in the cupboard Publicly traded companies have very strict regular filling requirements especially in the US. They can't hide losses unless they rely on fraudulent accounting for which the penalties are very severe. There is no such requirements or penalties in the P2P market. Distressed loans can be put in purgatory indefinitely.
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Post by robberbaron on Apr 14, 2019 19:44:24 GMT
Check my poll 75% made profit. Risks were explained no P2P platform made a overall loss this year. You can’t say that for the stock market Publicly traded companies have to declare losses, bad investments have to be written off. You can't say that for the P2P market. Losses can pile on for years without being recognized then suddenly they are all realised at once (see last credit bubble) I made a fair bit of money with SS/Lendy but only because I invested and got out early not because it was a wise investment. Even with pyramid schemes early investors make a killing.
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Post by robberbaron on Apr 7, 2019 9:32:31 GMT
Any case against lenders can only be a consequence of Lendy's actions. Lenders had no control over the loan agreement, the background checks on the borrower or the decision to default the loan. That Lendy refuses to defend lenders from the consequences of its own actions is appalling and demonstrates a complete lack of care for its customers.
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Post by robberbaron on Apr 7, 2019 8:11:49 GMT
Doesn't mean we won't be sued separately (as suggested by Lendy and H**) in which case Lendy has clearly stated "you're on your own".
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