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Post by munchydave on May 28, 2018 7:51:59 GMT
There is no best exit strategy. All investments are so late and overdue that they have been removed from the secondary market or the sales queue is so long with everyone desperate to get out that no one wants to buy. The only option is to sit tight and take funds out as they trickle in. Thanks Dave I was afraid of that. Are you sitting tight in the sale queue or still collecting interest ? Still collecting interest or so I am told by Lendy.
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Post by charliebrown on May 28, 2018 12:30:19 GMT
The best exit strategy is don’t enter.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808 
Likes: 3,242
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Post by jonno on May 28, 2018 12:34:40 GMT
It’s good to hear that Lendy isn’t a couple chelsea boys having a go. I'd say this is very unfair. We have no evidence that they're from Chelsea at all. In fact, digging through the archives, we find evidence that they may in fact be from further North.  This also explains why so many P2P loans are from Liverpool. In case you're wondering, that's Paul on the right. He used to be a bit more 'lairy' in his youth. This is the first ever Lendy promo shot; "Lendy!! 'cos we're not worth a carrot"
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
Likes: 416
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Post by brianlom1 on May 28, 2018 12:38:41 GMT
Fair enough:-) Is there any pressure we can apply? Can we change their behaviour? I would feel a lot better losing my investments if they - Made sale queue process transparent - Paid interest for funds stuck in the sale queue longer than 72 hours - Provided an account manager for larger investors - Were more transparent and approachable - Gave advice based on platform data (not investment advise) - Didn't repeatedly fob off any contacts with copy-paste statements about terms and capital-at-risk I mean regardless of "your capital is at risk" buyer beware etc. I can't help feeling they shouldn't be allowed to sit on our cash without providing at least a realistic plan of action or pay some interest or admit the funds are gone. Just keeping investors in limbo doesn't seem right... Of course bashing them doesn't actually help anyone, but I would sure feel better if they were 10% less cock-sure:-) Righto, bed-time! Suggest to carefully read the FAQs because you are very confused about a lot of points. The only viable strategy is to ride it out. A lot of people have invested when they are not happy with high risk. Another important thing is for you to come up with a long term investment strategy that is in keeping with your lower risk tolerance. Is there any way I can block this kind of drivel? Iainf made it quite clear it's platform inactivity he's concerned about (not the 'capital at risk' element). I'm beginning to suspect Hazellend may be on the Ly payroll.
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Post by charliebrown on May 28, 2018 12:46:02 GMT
Suggest to carefully read the FAQs because you are very confused about a lot of points. The only viable strategy is to ride it out. A lot of people have invested when they are not happy with high risk. Another important thing is for you to come up with a long term investment strategy that is in keeping with your lower risk tolerance. Is there any way I can block this kind of drivel? Iainf made it quite clear it's platform inactivity he's concerned about (not the 'capital at risk' element). I'm beginning to suspect Hazellend may be on the Ly payroll. I too am tired of the suggestion that all the lies, mistakes and disasters are ok because LY told us our capital is at risk.
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agent69
Member of DD Central
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Post by agent69 on May 28, 2018 12:47:49 GMT
Suggest to carefully read the FAQs because you are very confused about a lot of points. The only viable strategy is to ride it out. A lot of people have invested when they are not happy with high risk. Another important thing is for you to come up with a long term investment strategy that is in keeping with your lower risk tolerance. Is there any way I can block this kind of drivel? If you click on the offending user name, and then the little cog in the top right hand corner of the user page, there is an option to block member
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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 May 28, 2018 12:51:24 GMT
" I'm beginning to suspect Hazellend may be on the Ly payroll."Or "connected" in shome way shurely?!! 
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Post by samford71 on May 28, 2018 13:09:06 GMT
It's clearly difficult when an investment strategy goes wrong (or seems to go wrong, since you don't actually know the final outcome with these loans). It's especially difficult when you can't take a stop-loss. It's easier to think rationally when you don't have a position.
The problem is there is no exit strategy at this point. SS tend to deal in large, highly speculative (highly risky) development loans which most institutional lenders wouldn't touch with a bargepole. They are intrinsically illiquid assets. They will default with a high probabilty and recovery can take many years. In the absence of SS introducing variable pricing to allow the defaulted loans to find a suitable clearing price, the market will stay illiquid. So time is the only way out at a fundamental level. I'd just recommend taking a substantial reserve against your position (let's say mark it to 70% of it's notional par value, 50% is you want to be conservative). Mentally, book the loss now. Forget about it and just move on to the next investment strategy. There is nothing more you can do.
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Steerpike
Member of DD Central
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Post by Steerpike on May 28, 2018 13:09:10 GMT
" I'm beginning to suspect Hazellend may be on the Ly payroll."Or "connected" in shome way shurely?!! When did you first suspect that Hazellendy might be connected with LY?
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
Likes: 416
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Post by brianlom1 on May 28, 2018 13:11:27 GMT
Is there any way I can block this kind of drivel? If you click on the offending user name, and then the little cog in the top right hand corner of the user page, there is an option to block member Thank you agent69 ... done
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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 May 28, 2018 13:12:21 GMT
 [<- In answer to Steerpike]
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iainf
Posts: 16
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Post by iainf on May 28, 2018 14:48:50 GMT
Suggest to carefully read the FAQs because you are very confused about a lot of points. The only viable strategy is to ride it out. A lot of people have invested when they are not happy with high risk. Another important thing is for you to come up with a long term investment strategy that is in keeping with your lower risk tolerance. Is there any way I can block this kind of drivel? Iainf made it quite clear it's platform inactivity he's concerned about (not the 'capital at risk' element). I'm beginning to suspect Hazellend may be on the Ly payroll. Agree! enough already with the at-risk tut-tutting:-)
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Post by brightspark on May 28, 2018 15:49:16 GMT
As others have indicated sitting tight for the wheels to turn is pretty much the only option. However when large loans are repaid there are momentary ripples created in the secondary market. Astute sellers do anticipate this and position their selling to take advantage. Likewise at the beginning of the month when interest repayments are made that money may be withdrawn from the platform or end up on the secondary market. These are only small in the greater totality but every little bit helps.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400
Likes: 416
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Post by brianlom1 on May 28, 2018 22:42:45 GMT
It's clearly difficult when an investment strategy goes wrong (or seems to go wrong, since you don't actually know the final outcome with these loans). It's especially difficult when you can't take a stop-loss. It's easier to think rationally when you don't have a position. The problem is there is no exit strategy at this point. SS tend to deal in large, highly speculative (highly risky) development loans which most institutional lenders wouldn't touch with a bargepole. They are intrinsically illiquid assets. They will default with a high probabilty and recovery can take many years. In the absence of SS introducing variable pricing to allow the defaulted loans to find a suitable clearing price, the market will stay illiquid. So time is the only way out at a fundamental level. I'd just recommend taking a substantial reserve against your position (let's say mark it to 70% of it's notional par value, 50% is you want to be conservative). Mentally, book the loss now. Forget about it and just move on to the next investment strategy. There is nothing more you can do. The problem with sitting tight and waiting for recovery is we're totally dependent on Ly who don't appear to be as sharp in this area as many of us would have hoped. I still hold loans at ReBS (that haven't been declared as bad debt) where not a single penny has been recovered even though the last payment was in 2015, I can only hope this isn't a sign of things to come at Ly.
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Post by p2plender on May 29, 2018 1:10:49 GMT
Hazellendy!
Damn, coffee all down the front. Worth it though!
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[<- In answer to Steerpike]