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Post by robberbaron on Nov 10, 2017 18:33:16 GMT
Just skimmed the weekly BS. Since when did 46.3% constitute a majority? And they probably only reported the answers to the meaningless first question (i.e. "would you invest in an auto-investment product?") and totally ignored the responses to the much more meaningful question about specific rates. A well known trick of politicians.
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Post by robberbaron on Nov 10, 2017 14:29:01 GMT
How things change! It wasn't so long ago that SS was making loans in a niche market it had some expertise in (i.e. boaty loans), listened to it's lenders, had skin in the game and a great track record. Fast forward a few years and now we have Lendy, a company which operates in a market it clearly doesn't understand, has zero skin in the game, doesn't give a damn about lenders, cherry picks survey responses to fit its predetermined narrative, wastes time and money in irrelevant sporting events rather than due diligence, treats highly risky development loans as passive investments and tries really hard to shove bad news under the rug.
And now the latest innovation! No Lendy, 6% for investing in 30%+ default rate 'fire-and-forget' development loans is not competitive with 6% at ratesetter.
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Post by robberbaron on Oct 26, 2017 16:22:10 GMT
Depends on the loan just look at the sale queue and investor activity, the newer 12% ones sell straight away but older ones can take weeks or in some cases they will just sit and not sell Depends on the flow too. If a big loan is repaid then 150k which have been sitting there for weeks can go down in seconds. Conversely if a new big loan goes live then the queue will likely grind to a halt.
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Post by robberbaron on Oct 24, 2017 14:00:21 GMT
You really would expect LY to check the LR before lending £ 3,250,000 Good luck explaining this one Lendy Support As if providing explanations was part of what Lendy considers to be its duties...
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Post by robberbaron on Oct 23, 2017 17:38:43 GMT
martin44, I suspect this is due to the fact that unlike Lendy this forum is built on high ground and so the inundation didn't reach it.
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Post by robberbaron on Oct 22, 2017 14:52:35 GMT
martin44 my strategy was essentially the same as many people on this board "pass the parcel and avoid liquidity traps". I take no pride in it and I doubt anyone using it today would come out with his shirt in the long run. The platform has changed massively and now my strategy is much simpler: "run!"
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Lendy (L) in Administration
Weekly BS
Oct 22, 2017 13:21:42 GMT
via mobile
ozboy likes this
Post by robberbaron on Oct 22, 2017 13:21:42 GMT
So no mention of suspended loans. As usual only talk about good news (i.e. repayments) or irrelevant news.
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Post by robberbaron on Oct 20, 2017 12:20:54 GMT
I don’t have an issue with your strategy in fact I use it, or similar, on more than one platform I have used it too (and so have many others) but I don't go around calling myself an investing genius for having merely been lucky with a strategy which relies exclusively on liquidity and the platform not collapsing too quickly. This platform is massively different now from what it was a couple of years ago and I would discourage any new comers from attempting this strategy today. Unless of course I was trying to offload my positions on them.
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Post by robberbaron on Oct 15, 2017 20:53:32 GMT
I disagree .. only those who get out soon enough can make actual real money. The rest may be sitting on a paper profit at the point of collapse, but I doubt they'd agree they actually 'made any money'. That's typically what happens. Actually when a Ponzi scheme is unwound the money used to pay back the victims typically comes not just from the author of the scheme but also from the many early investors who unknowingly profited from the fraud. Hundreds of Madoff investors made hard cash profits not just paper ones. In fact several made a lot more than Madoff himself.
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Post by robberbaron on Oct 15, 2017 6:24:43 GMT
Georget, there is nothing special or clever about your strategy. All early investors in Lendy, myself included, have made a lot of money. They just don't boast about it every time they get a chance because they know it is not a proof that their strategy was particularly savvy. All of Madoff early investors made out like bandits and so did those who invested early in subprime mortgages. Does that mean they were smart or merely lucky?
Claiming that all loans are equal and therefore you should just go for the highest rate ignoring everything else is indeed nonsense. Would you swap Swiss bonds for Venezuelan bonds because the rate is much better and after all nobody knows which one will default?
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General P2x Discussion
Barren money
Oct 14, 2017 7:09:02 GMT
via mobile
Post by robberbaron on Oct 14, 2017 7:09:02 GMT
And Santander 123 now only 1.5% but on 20k.
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General P2x Discussion
Barren money
Oct 14, 2017 6:57:46 GMT
via mobile
Post by robberbaron on Oct 14, 2017 6:57:46 GMT
New Nationwide Flex Regular Saver Accounts have been £250 pm since mid July . Gah, will the cutting never end?! It will end when the Bank of England finally decides to raise rates. Any instant access current/saving account above 0.25% is the bank giving you free money.
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Post by robberbaron on Oct 14, 2017 6:45:50 GMT
And I think herein lies the problem with a lot of P2P platforms - the platforms cannot on the one hand present anonymous borrowers to lenders, and yet expect lenders to assess the risk of lending to said borrower. Or indeed not present monitoring reports in full. This isn't risky lending. It's blind gambling. It's supposed to be peer-to-peer, not peer-to-who-the-hell-knows. And the FCA is not helping. By forbidding platforms from investing their own funds in the loans it is ensuring that their interests are misaligned with investors. They have no skin in the game. All they care about is loan volume to earn their spread.
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Post by robberbaron on Oct 13, 2017 18:01:34 GMT
Can't see the other loans but at least for DFL017 the reason given seems to be the "prevarication" of the borrower. It's hard to imagine these stealthy suspensions are not linked to the FCA investigation.
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Post by robberbaron on Oct 13, 2017 7:59:47 GMT
The £1 Billion pounds of money which suddenly appeared out of nowhere in order to get DUP to keep her in power. The £20 Billion pounds of magically materialised money now available for tempting EU in phase-2.. the £250 million pounds which didn't exist last week in order to prepare for a 'No Deal' (Evidently Hammond don't know the location of that tree because he still can't find the money). Mr Corbyn knew of it, we didn't believe him. Now it seems he was right and it does exist. In fact, mrs May takes a bath under that tree every morning. She lathers her snake leathered body with the new pound coins and 5 pound pig-notes. How is May wasting money we don't have by increasing a debt we can't afford evidence of the existence of the money tree? In fact there is a nice analogy with Lendy. As long as the investors keep coming you can extend and pretend that everything is fine and "no investor has ever lost any capital". But as Madoff learned at some point they will stop.
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