elliotn
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Post by elliotn on Jul 21, 2018 14:53:50 GMT
They seem to be trying to occupy some of the space vacated by FC, when it removed self-select. At a first glance, the projected returns, say 2% above FC, would not be worth the increased platform risk, reduced liquidity, and the effort involved. But I wish them well. Self-select, steady loan flow (for July anyway!) and variable SM - quite a lot of effort to catch up on the profitable co’s (including one marathon 6.30 am sesh!) and PM at 10% TC loan part value allowing more diversification. Oh, and half a day for the 1st rec today (variable SMs always cause me bother; except for abl once they included the variable element in the download which quite simply changed my life 😁). LC also has plenty of profitable co’s from 20 quid a pop. Has filled the time in the Summer drought anyway 😊 .
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elliotn
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Post by elliotn on Jul 21, 2018 16:26:41 GMT
Its an interesting point and its not Abl fault that their loans are popular but the last few posts were something i was thinking about earlier as in comparison (hopefully i can post this) C2F have a loan from yesterday which i have not looked into that close but on paper it is for a profitable West End hair saloon owned by a celebrity stylist and is offering 11%.While that may not mean much after looking deeper into the details - it has still only raised under 20% of its modest target after a day for a business that seems to have proved its self This is one loan where I hope there is a haircut. And many of them.
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agent69
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Post by agent69 on Jul 21, 2018 16:40:26 GMT
a profitable West End hair saloon owned by a celebrity stylist The very last person that I am going to lend my money to
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Post by samford71 on Jul 21, 2018 19:41:25 GMT
Stage 1 we price to credit risk, worrying about the businesses cashflow position and security in a default. Stage 2 we price to liquidity given a SM where demand easily outstrips supply. Stage 3 the defaults roll in, the SM goes illiquid. We can’t price to anything. We lose money. We develop conspiracy theories that allow us to shift the blame to someone else. And the (P2P) world keeps turning ...
Seems Abl is at stage 2. So how many months/years to stage 3?
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elliotn
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Post by elliotn on Jul 22, 2018 6:52:08 GMT
a profitable West End hair saloon owned by a celebrity stylist The very last person that I am going to lend my money to A cutting remark. If I may be so bald - do you mean as an individual or his business? Not gone over it with a fine-tooth comb yet but the head-line results suggest plenty of bounce to his bottom line and a quick visit to trim my cash balance may be the order of the day. Edit - although slightly hair raising the Confirmation Statement was overdue when listed.
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elliotn
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Post by elliotn on Jul 22, 2018 6:57:58 GMT
Stage 1 we price to credit risk, worrying about the businesses cashflow position and security in a default. Stage 2 we price to liquidity given a SM where demand easily outstrips supply. Stage 3 the defaults roll in, the SM goes illiquid. We can’t price to anything. We lose money. We develop conspiracy theories that allow us to shift the blame to someone else. And the (P2P) world keeps turning ... Seems Abl is at stage 2. So how many months/years to stage 3? A good result for the amortised anaerobic digesters, B&W being taken off the books, the grounded plane being redeemed and nearly all the loans without security registered to abl being repaid, just the singular nature of the container loans to deal with. The abl empire may rise and fall with that of Axxxxs and its web of associated director loans (their shared p2p platform looks too small for that at the moment).
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macq
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Post by macq on Jul 22, 2018 7:35:36 GMT
The very last person that I am going to lend my money to A cutting remark. If I may be so bald - do you mean as an individual or his business? Not gone over it with a fine-tooth comb yet but the head-line results suggest plenty of bounce to his bottom line and a quick visit to trim my cash balance may be the order of the day. Edit - although slightly hair raising the Confirmation Statement was overdue when listed. Well done on some of the best/worst puns since the fishing boat loan (may help or not but the confirmation statement was raised & answered in the ask the business a question section with a couple of other cutting questions)
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Post by fatbritabroad on Jul 22, 2018 8:14:36 GMT
Hair today gone tomorrow. There's no point dressing it up 😉
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Post by fatbritabroad on Jul 22, 2018 8:21:39 GMT
But then, Ablrate seems to let almost anyone register now. [/p] Thanks Archie.
[/quote] Apparently so 😉
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blender
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Post by blender on Jul 22, 2018 9:09:09 GMT
Stage 1 we price to credit risk, worrying about the businesses cashflow position and security in a default. Stage 2 we price to liquidity given a SM where demand easily outstrips supply. Stage 3 the defaults roll in, the SM goes illiquid. We can’t price to anything. We lose money. We develop conspiracy theories that allow us to shift the blame to someone else. And the (P2P) world keeps turning ... Seems Abl is at stage 2. So how many months/years to stage 3? Yes, Ablrate has been in stage 2 for some time, but platform performance elsewhere, Coll, Lendy, FS, is driving more cash to look for better homes. The move to stage 2 was driven by demand, that is the lenders demand for new loan opportunities. The platform cannot control that. The move to stage 3 is not just a matter of time, it is a matter of choice for the platform and its decisions on volume and quality in the supply of loan opportunities. The platform is in control of which loans it offers and how much of that excess cash it lets through to borrowers. The calculation must be, how many defaults can be afforded through increased origination, without taking the platform to stage 3, which would be is killing the goose that lays the golden eggs? Unfortunately, on Ablrate, individual loan failures could cause serious harm. This loan worries me. Why were they allowed to borrow £1M, when they needed only £200k? How will they service it at £30k pm it without cannibalising the loan? I just hope this is not a ticket to stage 3.
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blender
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Post by blender on Jul 22, 2018 9:13:35 GMT
But then, Ablrate seems to let almost anyone register now.
I'm just jealous. I would love to be a fat brit abroad and to be able to retain my EU citizenship. But it is not possible.
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agent69
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Post by agent69 on Jul 22, 2018 13:22:38 GMT
The very last person that I am going to lend my money to A cutting remark. If I may be so bald - do you mean as an individual or his business?
- Profitable
- West end
- Celebrity
- Stylist
They all set my alarm bells ringing.
Mr Teasy-Weasy it isnt
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Post by stevel on Aug 14, 2018 12:37:22 GMT
In case anyone's wondering, it looks like the patent was published ok (8th August)
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IFISAcava
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Post by IFISAcava on Aug 14, 2018 12:45:07 GMT
In case anyone's wondering, it looks like the patent was published ok (8th August) Does that mean it has been granted?
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blender
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Post by blender on Aug 14, 2018 13:27:25 GMT
In case anyone's wondering, it looks like the patent was published ok (8th August) Does that mean it has been granted? No. The application was published on 8 August, after filing on 3 February. A decision is not imminent. No cause for rejoicing nor despair.
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