ashtondav
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Post by ashtondav on Dec 6, 2017 7:49:53 GMT
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m2btj
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Post by m2btj on Dec 6, 2017 8:09:12 GMT
Losses of this proportion would have taken down most P2P platforms with catastrophic results for investors. You've got to question the wisdom of those investment decisions.
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jlend
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Post by jlend on Dec 6, 2017 8:59:46 GMT
I find it interesting that they continue to publicise that they will be profitable again by the end of next year in the article, when the PF coverage ratio remains stubbornly below their target range.
Hopefully they will also focus on the PF as well as profit in the year ahead
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Post by GSV3MIaC on Dec 6, 2017 9:04:14 GMT
I liked comment #2 after the times article.
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r00lish67
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Post by r00lish67 on Dec 6, 2017 9:14:46 GMT
I find it interesting that they continue to publicise that they will be profitable again by the end of next year in the article, when the PF coverage ratio remains stubbornly below their target range. Hopefully they will also focus on the PF as well as profit in the year ahead It does look like it's heading back in the right direction though - up to 115% today from 111% recently. Hope that continues. The fact that RS were willing to plunder in millions of their own money to make up for their mess ups gives me some, possibly misplaced, optimism that they're not intending to abandon ship for quite a while yet. Btw, just seen the ISA's arriving in Feb..
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Post by skint4achange on Dec 6, 2017 9:44:01 GMT
I find it interesting that they continue to publicise that they will be profitable again by the end of next year in the article, when the PF coverage ratio remains stubbornly below their target range. Hopefully they will also focus on the PF as well as profit in the year ahead It does look like it's heading back in the right direction though - up to 115% today from 111% recently. Hope that continues. The fact that RS were willing to plunder in millions of their own money to make up for their mess ups gives me some, possibly misplaced, optimism that they're not intending to abandon ship for quite a while yet. Btw, just seen the ISA's arriving in Feb.. My Bold: I find it reassuring that they came clean about it let alone financed it. There was nothing forcing them to disclose what happened, but to remain transparent, they held their hands up and backed it. That goes a long way to making me trust them just a little bit more.
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puddleduck
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Post by puddleduck on Dec 6, 2017 9:49:35 GMT
It does look like it's heading back in the right direction though - up to 115% today from 111% recently. Hope that continues. The fact that RS were willing to plunder in millions of their own money to make up for their mess ups gives me some, possibly misplaced, optimism that they're not intending to abandon ship for quite a while yet. Btw, just seen the ISA's arriving in Feb.. My Bold: I find it reassuring that they came clean about it let alone financed it. There was nothing forcing them to disclose what happened, but to remain transparent, they held their hands up and backed it. That goes a long way to making me trust them just a little bit more. I am with you on this - an AssetzCaptial vs Ratesetter question came up here p2pindependentforum.com/thread/10927/assetz-30daa-ratesetter-rolling which didn't get much interest, but my reply there was that we've seen evidence Ratesetter will dip into their own pockets, while I don't think Assetz do, and whether their provision fund has ever paid out in in doubt. So there is some reassurance. I think though there are far too many P2P sites, very few seem to make an money, and I don't see how businesses that keep losing money will survive long term, which always give me pause for long term lending like the 5 Year Market on RS.
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ashtondav
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Post by ashtondav on Dec 6, 2017 15:24:16 GMT
The workings of AC, especially the working of their provision fund, is as transparent and clear as block of very thick jet black concrete hidden behind an iron curtain wrapped in the Turin flippin' shroud. RS is great - it just pays out, giving a seamless experience to the lender. So far! Watch the coverage ratio, as it's in the orange zone for interest cover.
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ashtondav
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Post by ashtondav on Dec 6, 2017 15:26:10 GMT
I don’t wish to panic anyone but I am unable to reach RS website...... Got through a nano second just now....
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Post by rudry2677 on Dec 6, 2017 15:32:23 GMT
Me too, now. Thank you.
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Post by stevepn on Dec 6, 2017 17:07:12 GMT
It seems to me that everything Ratesetter do they make a mess of it. Thankfully I don't have much left with them now.
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ashtondav
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Post by ashtondav on Dec 6, 2017 17:59:17 GMT
The problem is all the sites have problems, at least those of any size. FC has changed its model, AC can't give sufficient diversification and Zopa can't estimate bad debt and FS can't sell assets.
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brianlom1
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He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Dec 6, 2017 18:14:16 GMT
The problem is all the sites have problems, at least those of any size. FC has changed its model, AC can't give sufficient diversification and Zopa can't estimate bad debt and FS can't sell assets. In your opinion, which platforms do offer sufficient diversification?
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Post by gadget on Dec 6, 2017 18:35:13 GMT
My Bold: I find it reassuring that they came clean about it let alone financed it. There was nothing forcing them to disclose what happened, but to remain transparent, they held their hands up and backed it. That goes a long way to making me trust them just a little bit more. I find it the opposite of re-assuring. How many times can they swallow £23m losses in an effort to keep the provision fund from breaking? Not many i would suggest.
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Post by tredod on Dec 6, 2017 19:24:15 GMT
I find it interesting that they continue to publicise that they will be profitable again by the end of next year in the article, when the PF coverage ratio remains stubbornly below their target range. Hopefully they will also focus on the PF as well as profit in the year ahead It does look like it's heading back in the right direction though - up to 115% today from 111% recently. Hope that continues. It would be interesting to know how much of the apparent improvement in the fund is the result of the accounting changes described here and how much is a genuine improvement in performance.
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