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Post by stevefindlay on Feb 4, 2018 9:58:32 GMT
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agent69
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Post by agent69 on Feb 4, 2018 10:19:14 GMT
Thread title appears a bit misleading given that it looks like BM are making the claim not FT. As for the contents: There are a handful of P2P platforms that we are very concerned about – the quality of their lending appears poor, or misaligned with the rates of returns offered to lenders. Now tell us something we don't already know.
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ashtondav
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Post by ashtondav on Feb 12, 2018 18:42:03 GMT
Bond Mason issue PR document to FT. Lazy FT journo regurgitates with very little value add, and then BM regurgitate it as a prestigious FT article.
Well, blow me down with a feather duster!
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Post by captainconfident on Feb 12, 2018 18:53:06 GMT
There are three pages to this lacklustre article, and Mr. Findlay's views are pooh-poohed at the end:-
"If there is evidence to substantiate [Mr Findlay's] claims, I would be interested to receive it."
Put up or shut up, Mr. Findlay.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Feb 12, 2018 21:03:33 GMT
There are three pages to this lacklustre article, and Mr. Findlay's views are pooh-poohed at the end:- "If there is evidence to substantiate [Mr Findlay's] claims, I would be interested to receive it." Put up or shut up, Mr. Findlay. Come on captainconfident you have been in this space long enough to know what Steve is talking about.
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Post by sayyestocress on Feb 13, 2018 9:00:01 GMT
I'm not sure what the critics are expecting to see to warrant such a combative tone? BM aren't exactly going to hand over their due diligence and give us their top picks for platforms due for big losses this year. Big defaults don't seem to be unrealistic based on some of the loan books filling up with defaults/non-performing loans on some of the riskier platforms right now; we may well see what BM are predicting this year, then again we may not. The major draw of BM's product is the claim of thorough due diligence, so it's not surprising BM want to advertise that platforms outside their pool of platforms are high risk (in their opinion). The author of the article has sought to obtain some balance so got the P2PFA bloke to comment, and of course he will pooh-pooh such a claim because he represents platforms that may well be the subject of BM's criticism.
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Post by stevefindlay on Feb 14, 2018 9:13:50 GMT
Interesting comments on this thread.
If I've achieved nothing else than stimulate investors to looks twice at their choice of P2P Lending platforms, then that is a positive.
We are meeting the P2PFA to reiterate our concerns. And already met with the FCA in 2017 to share our thoughts.
There are a large number of good operators, but a few which are woeful. Choose carefully.
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Post by rookyone on Mar 1, 2018 18:38:58 GMT
There are three pages to this lacklustre article, and Mr. Findlay's views are pooh-poohed at the end:- "If there is evidence to substantiate [Mr Findlay's] claims, I would be interested to receive it." Put up or shut up, Mr. Findlay. In a word "Collateral". Guess Mr. Findlay predictions are coming true, this is the first platform to enter administration this year, will it be the last...
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beh
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Post by beh on Mar 1, 2018 18:50:36 GMT
There are three pages to this lacklustre article, and Mr. Findlay's views are pooh-poohed at the end:- "If there is evidence to substantiate [Mr Findlay's] claims, I would be interested to receive it." Put up or shut up, Mr. Findlay. In a word "Collateral". Guess Mr. Findlay predictions are coming true, this is the first platform to enter administration this year, will it be the last... Collateral is a platform that Bondmason were investing in? Somewhat odd way to be proved right.
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ashtondav
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Post by ashtondav on Mar 1, 2018 18:56:00 GMT
No BM don’t invest in COL. it's an example of a dodgy platform - in this case one operating without a licence! Yeeeeeha, it’s like the good ole Wild West in p2p land...
PS. Still don’t know if the 1.5% fee is tax deductible? Announcement?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 1, 2018 19:00:10 GMT
No BM don’t invest in COL. it's an example of a dodgy platform - in this case one operating without a licence! Yeeeeeha, it’s like the good ole Wild West in p2p land... PS. Still don’t know if the 1.5% fee is tax deductible? Announcement? Well theyve categorical stated they are invested and have offered to assist with the management of the loans they are invested in.
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Post by mememe on Mar 1, 2018 22:33:49 GMT
Well theyve categorical stated they are invested and have offered to assist with the management of the loans they are invested in. Their website states "BondMason carefully selects and diligences the best P2P Platform partners" - I wonder why they invested in Collateral?
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Post by stevefindlay on Mar 2, 2018 7:49:26 GMT
Please see our post here on Collateral: p2pindependentforum.com/thread/11571/which-platforms-bondmason-use?page=2#post-250224At times like this, it is important to understand and focus on the impact (if any) on your underlying credit; stay close to the process; and wait to hear the facts as they emerge. Regarding this thread: - We like(d) some of the property loans and process for originating and managing these by Collateral. We stand by that. - We predict platforms may fail (or shut for a period of time) due to: (1) A lack of profitability / equity funding (2) Poor lending performance (3) Other Platforms that fail because of (1) are unfortunate, as it may not necessarily signal poor lending practices. And may even be because they aren't skimming enough from investors(!). These types of failures can be harder to spot (eg an equity funding round being pulled at the last minute), but needn't have a negative impact on investment positions. Platforms that fail because of (2) are to be avoided. I recognise the poor performance is likely to be a combination of bad luck and/or poor lending. But if it is systemic across a platform, then bad luck is unlikely to be the contributing factor. Most focus should be on trying to identify these types of failures. It is likely that these sorts of failures could have a material and negative impact on your portfolio. Platforms that fail because of (3) need to be reviewed on a case by case basis. As far as we can tell (as at 2 March, and because we only went into a small proportion of their loans), the Collateral situation is not a type (2) failure. |
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ashtondav
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Post by ashtondav on Mar 2, 2018 20:49:06 GMT
Total lack of credibility. I’m out.
Why not stick to the tried and tested? This shows BM due diligence is awful. Awful. Unbelievable.
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Post by stevefindlay on Mar 3, 2018 10:01:32 GMT
Total lack of credibility. I’m out. Why not stick to the tried and tested? This shows BM due diligence is awful. Awful. Unbelievable. BM is well into its third year of averaging 8% pa gross returns for clients, having invested over £35M across 33 lending partners in 6,000+ loans. I'd suggest that it is pretty 'tried and tested'.
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