Jeepers
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Podcast
May 25, 2018 17:52:39 GMT
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Post by Jeepers on May 25, 2018 17:52:39 GMT
Asks COO 'Why should you invest in Lendy?' The smirk says it all  |
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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 May 25, 2018 18:03:55 GMT
The questions were spot on, well done to everyone who submitted suggestions. Unfortunately, very few questions received a straight answer. This was a great opportunity for Ly to communicate the new management team's action plan and thereby to improve lender confidence. In the event, I ended up playing bullsh!t bingo (just needed 'no investor has ever lost a penny' for a full house).
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Jeepers
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Podcast
May 25, 2018 18:13:53 GMT
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Post by Jeepers on May 25, 2018 18:13:53 GMT
3 minutes in
'Has Lendy considered buying the collateral loan book ?'
'In a short answer, no! We have considered it...'
Make your mind up. I found the whole thing quite comical.
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rocky1
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Post by rocky1 on May 25, 2018 18:24:03 GMT
watch this space and hold onto your hats [while we empty your trousers ]
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Balder
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Post by Balder on May 25, 2018 18:34:42 GMT
more expired than inspired!
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wilja
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Post by wilja on May 25, 2018 19:14:57 GMT
70% LTV made me chuckle and no acceptance that valuations have proved to be way out.
Speed of filling loans is down to zero confidence in the platform. People want their money out and walk away but are trapped. Propaganda at its best
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michaelc
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Say No To T.D.S.
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Post by michaelc on May 25, 2018 19:27:00 GMT
Very interesting and I am certainly glad they did it but I suspect it will be the last.
The S****** discussion (along with the comments about recoveries being costs) was particularly interesting to me as it seemed to show either a disproportionate level of monitoring or naivety about the borrower's ability and willingness to repay.
The COO guy was IMO talking the talk with little conviction. How about a discussion about how to decide what proportion of the budget should be spent on recoveries? From their point of view, recovering our money is a cost that needs to be kept as low as possible. Its only with the current level of negative sentiment that L are finally having to raise the priority of recoveries.
Here's an idea if a little off piste. Instead of recruiting that blah blah blah guy, wouldn't they have gained more confidence if they'd managed to appoint the COO from the set of larger investors? I feel sure there are people here that could do that job (assuming they'd want to) and they've just spoken to 4,000 of us. Such a person would be far more knowledgeable, motivated and respected that some guy driven mainly by his relatively large salary, bonuses and share options.
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rocky1
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Post by rocky1 on May 25, 2018 19:40:22 GMT
is it not us the lenders who end up paying for the cost of recoveries when lendy take it out of whatever they can get back.lendys costs are having to employ people who should know what their doing.might knock their profits back a little bit.
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GeorgeT
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Post by GeorgeT on May 25, 2018 20:34:48 GMT
It seemed to vindicate a lot of the opinions expressed on this forum in that there was quite a lot of lessons have been learnt stuff and we will sort it out. I'm afraid as soon as I hear somebody say they will put something on the flight plan my ears tend to shut down because I start smelling corporate buzzword nonsense instead of ideas, real direction and substance.
But I will give them a bit of credit for doing it. Running through those questions can't have been music to their ears and they probably said as much as they could in the circumstances as regards admitting things aren't perfect.
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69m
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Post by 69m on May 25, 2018 21:26:33 GMT
At least it demonstrated that Lendy acknowledges lenders' concerns.
Of course, many of the answers were fairly vague and the interviewer was never going to be in 'Paxman mode' with his colleagues. Enlisting an independent financial journalist to ask the questions would certainly spice up the next podcast.
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GeorgeT
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May 25, 2018 21:39:11 GMT
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Post by GeorgeT on May 25, 2018 21:39:11 GMT
At least it demonstrated that Lendy acknowledges lenders' concerns.
Of course, many of the answers were fairly vague and the interviewer was never going to be in 'Paxman mode' with his colleagues. Enlisting an independent financial journalist to ask the questions would certainly spice up the next podcast.
Yes. Perhaps that Financial Thing man called Laurence should try and do a follow up to his first Lendy interview. Although I'm not sure his teeth are quite sharp enough.
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Monetus
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Post by Monetus on May 25, 2018 21:59:08 GMT
Sure has! I also specifically remember Liam talking in a video at Cowes about how Lendy was a "very safe place to invest". Compare that with today's comments setting expectations about how Lendy is clearly a "high risk platform"
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Jeepers
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May 25, 2018 22:12:26 GMT
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Post by Jeepers on May 25, 2018 22:12:26 GMT
I also recall Liam saying the safest loans were the biggest DFL's... and we have our biggest DFL to date going t*ts up!
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michaelc
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Post by michaelc on May 25, 2018 22:43:35 GMT
It's got quite a different tone to this: youtu.be/471DN4YEcKMI doubt the baldheaded guy has any friends left after referring them all to Lendy Yes indeed! That video really enforced one thought I've had for some time which is they seemed to have a view on what a stereotypical Lendy target investor looks like and oh boy did they get it so wrong.
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Balder
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Post by Balder on May 26, 2018 8:49:45 GMT
It seemed to vindicate a lot of the opinions expressed on this forum in that there was quite a lot of lessons have been learnt stuff and we will sort it out. I'm afraid as soon as I hear somebody say they will put something on the flight plan my ears tend to shut down because I start smelling corporate buzzword nonsense instead of ideas, real direction and substance. But I will give them a bit of credit for doing it. Running through those questions can't have been music to their ears and they probably said as much as they could in the circumstances as regards admitting things aren't perfect. Lessons are only learn't when the problem (and similar) aren't repeated. S****** in my view is a very recent issue that clearly shows the lessons have not been learn't. They should be visiting these sites as it can clearly be seen from a distance that S****** was no where near completion. Yes we need to do our own due diligence BUT part of that has to be believing what Lendy tell us in updates! I have stopped investing until I see a real turn around. The guys being interviewed in the pod cast were hardly dynamic in my view and furthered my no more investment view.
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