elliotn
Member of DD Central
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Post by elliotn on Nov 12, 2017 5:31:22 GMT
I do think that a lot of the negativity is simply noise. If you follow the forum it is possible to select good loans. Mr 12% does now seem to be Mr Doom & Gloom popping up on all the threads like wack-a-mole reminding us of his superior strategy & exit....yes, he does NOT even invest on here anymore* !!!! (*a couple of residuals aside)
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Post by charliebrown on Nov 12, 2017 11:05:15 GMT
I don't know why we are beating about the bush here guys. For the benefit of any doubt this platform sucks. Its default rate is awful, its recovery rate is awful and its weekly BS is as its says B*** S**** Why can't they get a grip and recover the situation I couldn’t have said it better myself. LY sucks! I think they know they suck but don’t seem to care. I’ve noticed they never post on this forum any more. Seems they hold nothing but contempt for their investors.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
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Post by ozboy on Nov 12, 2017 11:07:57 GMT
Funny ole way to run a business isn't it?  |
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Post by charliebrown on Nov 12, 2017 11:14:25 GMT
I do think that a lot of the negativity is simply noise. If you follow the forum it is possible to select good loans. Mr 12% does now seem to be Mr Doom & Gloom popping up on all the threads like wack-a-mole reminding us of his superior strategy & exit....yes, he does NOT even invest on here anymore* !!!! (*a couple of residuals aside) Let’s not turn on one another. I don’t really care which individual investor has the best strategy. We need to stick together and for those who are looking at substantial capital loses we need advice and we need support. I knew there were risks but I didn’t anticipate this type of meltdown.
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elliotn
Member of DD Central
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Post by elliotn on Nov 12, 2017 14:30:32 GMT
Mr 12% does now seem to be Mr Doom & Gloom popping up on all the threads like wack-a-mole reminding us of his superior strategy & exit....yes, he does NOT even invest on here anymore* !!!! (*a couple of residuals aside) Let’s not turn on one another. I don’t really care which individual investor has the best strategy. We need to stick together and for those who are looking at substantial capital loses we need advice and we need support. I knew there were risks but I didn’t anticipate this type of meltdown. George has left us. I’m comfortable with my holdings. They just had a record repayment month. No immediate probs on their biggest dfl’s. What meltdown are you having?
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SteveT
Member of DD Central
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Post by SteveT on Nov 12, 2017 14:39:20 GMT
Let’s not turn on one another. I don’t really care which individual investor has the best strategy. We need to stick together and for those who are looking at substantial capital loses we need advice and we need support. I knew there were risks but I didn’t anticipate this type of meltdown. Oh, good grief! 
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chunkie
Member of DD Central
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Post by chunkie on Nov 12, 2017 16:33:16 GMT
Let’s not turn on one another. I don’t really care which individual investor has the best strategy. We need to stick together and for those who are looking at substantial capital loses we need advice and we need support. I knew there were risks but I didn’t anticipate this type of meltdown. George has left us. I’m comfortable with my holdings. They just had a record repayment month. No immediate probs on their biggest dfl’s. What meltdown are you having? October was indeed a record repayment month but maybe just "catch up" as The prior month was the lowest repayment for well over a year. The annualized trend (moving annual total) of repayments has been declining for several months.
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Tony
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Post by Tony on Nov 12, 2017 17:56:11 GMT
I do think that a lot of the negativity is simply noise. If you follow the forum it is possible to select good loans. On Lendy? Good luck with that
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Liz
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Post by Liz on Nov 12, 2017 18:05:09 GMT
I do think that a lot of the negativity is simply noise. If you follow the forum it is possible to select good loans. On Lendy? Good luck with that 1/3 of the loan book is in technical default. I wouldn't say the worries are "noise"
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hazellend
Member of DD Central
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Post by hazellend on Nov 12, 2017 20:18:11 GMT
I think Lendy has a lot of good loans still but they tend to be hard to pick up on the secondary market.
If they start offering decent quality/LTV loans I will still add to my investments.
I think they have been taking the piss recently. I don’t know how small a group we are. If they really have a devoted group of investors happy with 6% then they would be crazy not to exploit that.
I’m sure most have noticed that their “safer” 11% loans haven’t done too well
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Post by p2plender on Nov 12, 2017 23:06:26 GMT
I presume the 6% they are aiming for is capital loss?
Lendy is a disaster area, anybody saying different isn't a full deck.
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Post by andygod1 on Nov 12, 2017 23:27:50 GMT
What do you expect for 12% ?
that sort of rate implies an amount of risk. Caveat Emptor!
In the good times I had over 100,000 with Lendy. I adopted quite a rigid policy of selling any loan about 100 days prior to repayment, along the lines of Mr 12 %. I adopted that policy as i was poor at dd.
I followed this Bb and some of the experienced posters , and i noted a change in their attitude around 6 months ago. I followed them and liquidated my loans, i wasnt greedy thinking how much interest i was losing. My priority was to protect my capital.
i now have 1300 with lendy. I like Lendy, they are innovative, and give ordinary people a chance to invest in large schemes, but you have to understand risk.
whats my new strategy? Invest much smaller amounts of money, but spread them over a wider number of loans and hold them to completion without worying.That strategy is because of this situation now wherby loans are suspended and the poorer secondary market.
In summary my cautious approach very much paid off , and my early sell off was creditable and saved my bacon, as i had quite an amount in the Marylebone one.
That is in thanks to the many experienced and excellent posts that i followed on this BB and gave me a heads up / edge.
Excellent!
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copacetic
Member of DD Central
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Post by copacetic on Nov 12, 2017 23:37:57 GMT
Reading some of the recent posts here makes me think some people invested in Lendy believing it to be a bank account that pays 7-12%. While I sympathise if some investors have overstretched themselves and invested money they need now it will hopefully be a reminder of the basic pricipals of investing:
1. Don't invest what you can't afford to lose
2. Don't put all your eggs in one basket (1 particular loan, platform or asset class like p2p)
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twoheads
Member of DD Central
Programming
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Post by twoheads on Nov 13, 2017 13:21:07 GMT
There are 93 92 live Lendy loans. Currently, 41 of these are either defaulted, overdue or suspended leaving 52 51 'okay'. In two weeks time another eight loans will have slipped from IOA into IA. So, without repayments, extensions etc., by November 27th there will be 44 43 'okay' loans and 49 not 'okay'. And we still have not a single (even partial) repayment on any Lendy DFL. EDIT: MONEY PMd me with a correction - I had mistakenly included the one pipeline loan in the totals. |
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beechside
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Post by beechside on Nov 13, 2017 14:22:06 GMT
And we still have not a single (even partial) repayment on any Lendy DFL. Gulp...
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