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Post by ablrateandy on Oct 11, 2017 10:30:33 GMT
Well if you listen to the naysayers on Brexit, it's not long until we are a third world country. At that point, Kiva will doubtless start offering property development loans in Cumbria
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Post by ablrateandy on Aug 7, 2017 11:50:01 GMT
Sorry - just got an email flagging this. Yes - I will get an update out today to all lenders In summary, we have just bought some more boxes and continue to push on. I'll start to make more regular updates as it has to date been a bit too sporadic and for that I apologise.
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Post by ablrateandy on Jun 24, 2017 21:06:09 GMT
Ditto with ilmoro re the sentiment. However, local authorities can borrow directly from central government at 80bp over gilts (ie. very low rates) and so steer clear of issuing debt themselves because it isn't cost-effective. Ditto most of the housing associations can borrow at say 100bp over gilts for 30 years. It would be nice to see some forward thinking local councils willing to pay up for more investors...but very few are - they simply look at the cheapest way to borrow money. And on the other side, many investors only chase yield.
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Post by ablrateandy on Jun 21, 2017 20:31:49 GMT
Thanks SteveT. I could go into a long discourse about what is "right" and what AER is.... but suffice to say that there are three ways to calculate it : 1. XIRR (which looks at each cashflow and evaluates it based on the fraction of a period elapsed) 2. IRR (which ignores the date and assumes a set of regular payment dates) 3. The Discounted Cashflow Method (which looks at each cashflow and evaluates it longhand based upon the number of days elapsed) Number 3 is the most exact way (in my opinion) and is what is used on the Ablrate secondary market (as well as in bond markets)
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Post by ablrateandy on Jun 19, 2017 15:36:40 GMT
I sent a message to you!
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Post by ablrateandy on Jun 19, 2017 14:32:29 GMT
My background is as a bond trader and syndicator, so I am a little picky! In my opinion, something being marketed as a "bond" should be liquid and regulated. Most of what is currently being marketed as "bonds" is something that is neither of the above. The risk is that investors gain a false sense of security from the term, especially when they read in the tabloids that they should "buy bonds" for their portfolio.
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Post by ablrateandy on Jun 19, 2017 13:59:04 GMT
I think that buying things that are wrapped inside a bond can be very sensible as it provides a diversified portfolio with a (theoretically) fixed return. You effectively rely upon the securitiser to pick the loans for your portfolio. It also (if well structured) can go into your regular ISA or SIPP. However, in any asset like this looking at the bond itself is no substitute for looking at the underlying assets. I could now plug something, but I won't
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Post by ablrateandy on Jun 19, 2017 0:26:53 GMT
Unfortunately, the FCA seems unable or unwilling to clamp down on such loose wording. I'm not knocking this company, but I have seen some wording for similar investments that makes me cringe. There is one firm out there that advertises the fact that "all of our bonds are investment grade". Errrmmmm no they aren't.
Other phrases to look out for are :
"Capital guaranteed" - by whom?! "Secured" - with what?
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Post by ablrateandy on Jun 10, 2017 23:51:39 GMT
O************* S********s Ltd is a slightly complex loan (run by my company) which has always asserted that secondary market trading may not be permissible. At the moment, we are re-assessing the strategy of the business due to a massive change in market conditions. We have re-paid a percentage of the loan in advance and don't think that secondary market trading is fair whilst things are volatile for the underlying asset.
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Post by ablrateandy on May 17, 2017 23:01:13 GMT
Sorry - everyone should have had 19% of the face amount repaid (together with interest). If we missed you, then please email me on andy@containersupply.co.uk and I will get ablrate to check your account! We are just sorting out a couple more internal things whilst we ponder where to go next. I have spoken directly to quite a few people and am happy to chat to anyone about the loan, business thoughts etc. My eye is focussed keenly on (a) Capital preservation, which has been achieved despite some rather adverse circumstances and (b) targetting the 15.4% return, which we feel on track with. Our internal thoughts are whether to adopt a more aggressive strategy (which imho goes outside my mandate and would require a new structure), a continuation of the current strategy (which is tough but possibly achievable) or a wind-down (which gives me my life back but annoys me because I think that we can make this work). More news will be forthcoming but I am always happy to chat personally.
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Post by ablrateandy on May 3, 2017 21:12:47 GMT
Hello and apologies from OUtofthebox. We got rather caught in a delay setting up bank accounts. Anyway, lenders have an email and we will be pushing money back to lenders tomorrow.
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Post by ablrateandy on Apr 16, 2017 21:15:10 GMT
Hello And apologies @balder . Our delay was due to a new bank account being set up (apparently even Metro take four months now ). I need to move a bit of cash around and WILL update this week with the expectation of making a repayment mid-late week. Andy
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Post by ablrateandy on Mar 5, 2017 19:51:00 GMT
She's waiting to find out her role at the moment as they need the local charity to say what they need. They are in touch with a charity there and I think there's two GPs, two consultants and two registrars making the trip. Hopefully in Greece they can do a little more but I'll keep you updated.
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Post by ablrateandy on Mar 4, 2017 22:26:32 GMT
Right. No Danish bloke looking for a loan to buy large metal boxes so I took a punt . Not had time to browse too much though so will pop some more in later. I do like things like this though. MrsAblrateAndy is off to Greece in May to help out again with a little gaggle of doctors. Which is annoying, cos it is the week I was going to go to my first ever Grand Prix
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Post by ablrateandy on Mar 4, 2017 19:28:32 GMT
I'm on daddy day care and just got them down. I'll change the world later
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