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Post by Financial Thing on Oct 24, 2016 22:31:16 GMT
With regards to Octopus, who is the lender lending to? Borrower or platform? Or is it not really a p2p platform?
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Post by Financial Thing on Oct 21, 2016 14:56:12 GMT
Firstly, we are being paid 12% to take risks. Things like this are inevitable. But I do agree, DD was lacking on this.
But if the borrower can't pay the taxman on time, how far down the list will his debt and loan obligations fall? Businessmen like this know they can push the boundaries on debt obligations and the borrower knows that a p2p lender isn't going to default on day one of a late payment. Having said that, late payments will affect future borrowing possibilities so it would be in the borrowers best interest to keep loans current.
What I really appreciate is Moneything's transparency.
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Post by Financial Thing on Oct 21, 2016 14:10:00 GMT
Take care with property, loans where planning permission is not present and developments half complete are worth very little. I'd also suggest that 12% is not a good rate in the market. You can pick up 18 to 20% in some funds year after year, P2P has a place in the market but just that, it is certainly not the best game in town. I recommend you look at trustnet and revew annual rates of greater than 15% and volatility of less that 13% and you'll find a bunch of funds with consistent great results. Turning your back on them is just crazy. Personally, my stocks and shares money all goes into just one ETF, Vanguard all world. You had me at Vanguard!
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Post by Financial Thing on Oct 20, 2016 17:48:37 GMT
Take care with property, loans where planning permission is not present and developments half complete are worth very little. I'd also suggest that 12% is not a good rate in the market. You can pick up 18 to 20% in some funds year after year, P2P has a place in the market but just that, it is certainly not the best game in town. I recommend you look at trustnet and revew annual rates of greater than 15% and volatility of less that 13% and you'll find a bunch of funds with consistent great results. Turning your back on them is just crazy. While I respect your opinion Bobo, many of these funds are incredibly risky and once the stock market goes pop (it will), these funds will experience some crippling losses. With bubble type warning signs blinking all over my screen, I don't think now is a good time to be plunging money into managed funds.
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Post by Financial Thing on Oct 18, 2016 20:22:01 GMT
I like the look of this loan, but I have two concerns: a) I can't help but feel I'm edging towards being overexposed to Mr S****** D**, who keeps cropping up here there and everywhere. I've no reason to believe he's anything other than a successful property developer though. Is anyone else limiting their exposure to him, or am I being over cautious? I'm starting to feel the same way as I see the exposure to Mr S****** D** climbing higher and higher. I know nothing of Mr. D's financial situation but my gut is telling me this continued borrowing can't be a good thing. Also read an article in the Guardian about the borrower and his borrowings (easily Googled). Maybe MoneyThing could offer some comfort on this matter.
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Post by Financial Thing on Oct 15, 2016 3:56:03 GMT
The graphic ad that says "The Best Investment Product Of The 2016" put me right off. EDIY...and the typo on "experince". For a finance company, if they can't proof read their ads, doesn't give one much faith in how they handle money. ![](http://p2pindependentforum.com/attachment/download/2010)
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Post by Financial Thing on Oct 12, 2016 17:16:10 GMT
I surely hope that SS will be reducing borrower rates and if so, this is simple demand and supply. SS is obviously losing borrowers to other platforms offering lower rates.
Better for SS to offer loans at lower rates than to offer no loans at all.
Now if borrowers rates remain the same while lender rates are cut, there will be more than a few irritated lenders / defectors.
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Post by Financial Thing on Oct 5, 2016 16:52:34 GMT
Hi Financial Thing , In the event of a default we can take the stock, as the borrower has assigned full title guarantee of the stock for the duration of the loan. Many thanks, Gordon Hi Gordon...how legally complicated / lengthy would this be? I presume more complicated than defaulting on a past due pawn item? Just curious thanks.
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Post by Financial Thing on Oct 5, 2016 14:42:36 GMT
While these group asset loans seem convenient, I see a large increase in risk but no increase in return. Since the loan is secured by a company debenture, isn't it more like a SME business loan, akin to AC or FC? Yes I know it's secured by the debenture but a default situation could be very complicated, not like single pieces of jewellery that could be sold within a few weeks of default to recover capital and interest.
Just my 2 pence worth.
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Post by Financial Thing on Oct 3, 2016 21:07:52 GMT
+1 for prefunding. 10am loan times are difficult because of work.
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Post by Financial Thing on Sept 13, 2016 23:35:20 GMT
you can consistently get rates well above the "market rate" (as I have always managed to achieve once I understood the market) What are these well above market rates you speak of? ![(:))](//storage.proboards.com/forum/images/smiley/ninja.png) They must be hiding under the floorboards as I've not seen them in a while.
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Post by Financial Thing on Sept 12, 2016 16:16:38 GMT
gold is a stable market.... Do you really consider gold a stable market (price wise)? Gold has experienced several 30%+ price drops/increases within a 1 year timeframe.
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Post by Financial Thing on Sept 10, 2016 15:01:13 GMT
Very savvy marketeers, creating a scarcity campaign. I'm in.
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MoneyThing (MT) in Administration
Sunday Loan?
Sept 9, 2016 19:43:09 GMT
Post by Financial Thing on Sept 9, 2016 19:43:09 GMT
4pm Sunday is a fine time
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Post by Financial Thing on Sept 7, 2016 17:58:19 GMT
Some of the code on RS looks sloppy and this surprised me. For example at the statistics page: view-source:https://www.ratesetter.com/aboutus/statistics (copy and paste this as hyperlink not working) 1. The two rate feeds, both 10 day and all time, point to the same all time csv (line 664, 652) 2. The headline market figures table has two measures just commented out (lines 753-758 and 772-775) rather than removed 3. Line 1086-1088, instead of just deleting the code for the "2015 Fintech innovation awards winner" badge after they removed the image they've just left it there as superfluous code. A second example, the provision fund page: view-source:https://www.ratesetter.com/invest/everyday-account/protection (copy and paste this as hyperlink not working) 1. When talking about the size of the provision fund on line 497, they give the headline size of provision fund but also a comment hides a message "£500,000 is a loan from RateSetter" 2. Line 627-631: More superfluous code, just repeated information from a couple of paragraphs above but instead of deleting it here they've just left it there as a code comment. Why I posted this: does anyone else think this is strange to publish code like this for a IT focused business like RS? Why would they have a comment about 500k of the provision fund being a loan from RS? Wish there was a thumbs down button. Sorry but it's a bit of a strange thing to post. Why are you looking at RS's source code?
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