TitoPuente
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Post by TitoPuente on Dec 19, 2014 10:16:41 GMT
and even with the bit you put into p2p, don't put it all in one platform. We should refrain from giving advice on this board. But since you have, why exactly? Sorry, no advice intended. Just trying to compare notes with other P2P investors. When I mention baskets and eggs I refer to broader diversification (i.e. equities, bonds, cash, real estate, other alternative asset classes). For P2P I tend to think that platform diversification is fairly irrelevant. If one fails, liquidity will probably dry across the board. Assuming P2P is one [new] asset class, I personally would not allocate more than one fifth of my investable funds into it. I still find myself more comfortable with equities for the medium/long term. But this is just a personal opinion.
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Dec 18, 2014 12:59:17 GMT
Good insights provided. The consensus seems to be that the website is suboptimal at least but there are many other positives. I would change the title of the thread to Great idea. Poor execution in some aspects, mostly technology and communication. Wordy but more accurate. One last observation: Whatever attractive P2P may appear to be, better not put all eggs in one basket. Within the traditional classification of Cash - Bonds - Equities, P2P does not fit in the Bond category and is definitely not Cash (i.e. Savings accounts, money market). Just a word of caution. And yes, Tito Puente rocks.
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Dec 17, 2014 16:48:19 GMT
This forum is an extensive collection of examples that support the idea of a disgraceful execution. FC is a pure online play (i.e. all transactions go through their website). The fact that such website is frequently collapsed, lacks functionality, is patchy and, more importantly, its improvement does not seem to be in their list of urgencies, is not reassuring. There are other not trivial issues like "trapped bids", "double sales", rounding errors, delays in updating all types of transactions, live updates, browser overload, etc. that go unattended for the time being. An online venture should excel in its online delivery. There are no excuses. As examples see eBay, Amazon, Priceline, etrade, even Alibaba.
On a side note, let's park the anonymity claim (because it sounds like a cliche). This is how online opinion forums have worked at least for the last two decades. Let's not get our knickers in a twist.
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Dec 17, 2014 14:56:37 GMT
I am relatively new to FC.
My impression after a few months of trial is that this may be a book case of great idea, disgraceful execution. A disease that plagues start ups. I am eager to see the end of the line. It reminds me of a case back in the dot com bubble. A fintech start up got acquired by a large Spanish bank for half a billion dollars. It went bust a number of months after because the management team were unable even to open foreign bank accounts.
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Dec 16, 2014 16:22:44 GMT
Is there a source to obtain the list of loans that defaulted other than a going through all the weekly blog entries?
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Dec 4, 2014 9:38:18 GMT
The website is now completely collapsed. They knew this for a while and did absolutely nothing. This is a mistake that can cause them a serious set back in their business plan and growth projections.
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