TitoPuente
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Post by TitoPuente on Jun 17, 2015 11:39:22 GMT
Indeed. Fundamentalist Cromagnons have been fixing this "glitch" for over a week now. No, that is incorrect. The problem occurred when the loan was accepted early by the borrower on 15/06/15, so 2 days ago rather than 'over a week' ago. You are right. The problem last week was with 13204.
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TitoPuente
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Post by TitoPuente on Jun 17, 2015 8:52:47 GMT
Indeed. Fundamentalist Cromagnons have been fixing this "glitch" for over a week now.
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TitoPuente
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Post by TitoPuente on Jun 11, 2015 17:47:05 GMT
Frankenstein Castle says that loans 8187, 3512 & 7079 (same borrower) defaulted today. A+ rated, now with a "red" RAG label as the position is uncertain. Borrower must need recharging. Ho hum... Scary.
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TitoPuente
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Post by TitoPuente on Jun 4, 2015 13:59:36 GMT
Ok, so now it's 8.5% with no cash back. Is this fine tuning or just hit and miss?
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TitoPuente
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Post by TitoPuente on Jun 3, 2015 11:49:39 GMT
If I'm allowed to answer too (although I've already raised most of these in another place) .. 1) More granularity about what to bid (rather than 0.5% or 1%, say "£120"). 2) Allow multiple autobids (e.g. 5 * £120) 3) Allow people to turn OFF autoBUY while leaving autoBID on (i.e. no SM purchases). Or vice versa of course. 4) Get it to bid sooner. 5) Not have bids directed at unpopular auctions (ones less filled) if there is a choice... if anything it should go for the most popular ones! Of course my top option is "dynamic bidding" - tell it to bid down to some %age value, but not to start from there. These suggestions would undoubtedly improve autobid as a lender's resource. However, they would degrade FC as a whole marketplace. They would reduce or even kill any lender segmentation i.e. autobid would replace active lending. And they would significantly dry the secondary market. I support the use of autobid as a balancing tool fully managed by FC, rather than a service dedicated to lenders. As long as autobidders, on average, achieve the declared average rates published by FC, there is no need to change it.
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TitoPuente
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Post by TitoPuente on May 26, 2015 14:37:30 GMT
It's my first anniversary in Fondling Cynics and I was just trying to run some XIRR on my history. However, the format of the transaction statements is quite useless (no surprises here). I wonder if anyone has created an Excel spreadsheet capable of parsing the csv output files and get a proper ledger that can be used? Do you actually need that (unless you want to calculate XIRR at an historic date)? Usually dates and amounts of deposits and account value at today's date will suffice - using the excel function. It would be interesting to see the yield variation through time. It would also be interesting to test their formulas that exclude idle cash.
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TitoPuente
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Post by TitoPuente on May 25, 2015 14:09:09 GMT
It's my first anniversary in Fondling Cynics and I was just trying to run some XIRR on my history. However, the format of the transaction statements is quite useless (no surprises here). I wonder if anyone has created an Excel spreadsheet capable of parsing the csv output files and get a proper ledger that can be used?
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TitoPuente
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Post by TitoPuente on May 12, 2015 14:57:40 GMT
It is mildly alarming to learn that the five weekly failures are all A and B.
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TitoPuente
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Post by TitoPuente on May 12, 2015 13:53:56 GMT
Thank you so much for the responses. I have contacted a number of P2P lending sites, and only a small number are willing to allow borrowing against a portfolio or to open a margin account. From your responses, I definitely see why the number is so small, its not really in their best interest to loan out the capital they could be using to boost their business. Would you mind sharing with us who are the P2P platforms that would allow a margin account and/or would lend against a portfolio?
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TitoPuente
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Post by TitoPuente on May 11, 2015 9:01:23 GMT
Is it just me or all Financial Summaries have been wiped out from all posted loan requests? I'm seeing them as usual - just checked the top three. (They're not shown for the property development loans). Yes. It was probably just me.
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TitoPuente
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Post by TitoPuente on May 11, 2015 8:32:31 GMT
Is it just me or all Financial Summaries have been wiped out from all posted loan requests?
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TitoPuente
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Post by TitoPuente on May 7, 2015 11:23:37 GMT
Generally credit cards don't award any reward points or miles for cash advances. Rewards are only for regular spend.
Even if there are no fees, credit card cash advances have relatively high interest rates (18-20%) which would not work as a way to leverage an investment in FC.
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TitoPuente
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Post by TitoPuente on Apr 27, 2015 10:34:23 GMT
Pardon me if I've missed something but you do not seem to have allowed for the very particular premise to this discussion that at the close everyone would get the marginal rate, even if they had bid at the MBR. So why bid higher than the MBR? You would only bid at MBR if you are happy with the possibility of ending up with the MBR. The marginal rate equals the MBR in all bids that close at MBR. In general, you would only bid at the minimum rate you could live with. Bidding lower than your personal threshold can leave you with an undesired rate and would not increase your probability of getting anything better.
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TitoPuente
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Post by TitoPuente on Apr 27, 2015 8:57:15 GMT
A ‘I would bid the lowest rate I was prepared to accept, knowing that I would get the marginal rate rather than the rate I bid.’ B ‘I would bid for a range of rates with different volumes, because I usually want more of the loan if the rate is higher.’ There may be a contradiction lurking in these two statements. If you know that you will get the marginal rate whatever rate you bid at, then why not just bid at MBR? If you bid at MBR, then you can be sure that you will still have bids in at the end. So lots of bidders may bid at MBR. That is why the marginal rate might approach the MBR. There is no contradiction. Bidding at MBR would allow for the final [marginal] rate to be MBR if MBR fills to 100%, so if a bidder is not happy to accept MBR then bidding at MBR would make no sense as it would have the risk of getting it. Bidding different amounts for different rates adds a layer of complexity but is not contradictory. It just reflects the different appetite for different rates i.e. 14% may justify lending $10 but 11% may only be good for $3 [bogus currency and values on purpose]. This is a bid of $7 at 14% and $3 at 11%. If the marginal rate closes at 14% or more then the total amount lent would be $10 (@14%+), but if the marginal rate ends up between 13.9% and 12% then the amount lent is $3 at some rate in that range.
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TitoPuente
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Post by TitoPuente on Apr 26, 2015 11:11:33 GMT
Unfortunately I had decided to hang on to it "for a bit longer" as my loan parts were at 15% !
Same here. One more bit of empirical evidence supporting the correlation between early closers and higher risk. They may have been quite desperate for the funds and the gamble lasted 6 months.
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