star dust
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Post by star dust on Sept 15, 2014 23:06:38 GMT
I am fairly certain that it is at least some of the time because I've had large amounts come in after mine on a couple of occasions, and mine's gone out first. I've also been checking when mine are only partially purchased too and those seem to follow the FIFO rule. I did have some inexplicable glitches on a couple of separate sales of a particular PBL loan the other week though which SS were 'looking into' so maybe it doesn't work the same all the time? Couldn't be a case of near simultaneous purchase could it?
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star dust
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Post by star dust on Sept 15, 2014 23:11:22 GMT
How certain are people that the queue is indeed first in - first out ? I've had the situation described by Liz happen to me a few times now. I put it down to a coding "feature" which means the queue is actually last in - first out. Good question. This has implications for anyone wanting to buy back their own units. Is anyone brave enough to offer a unit up for sale in a loan where there's a fair amount already offered for sale? (Other than PBL005, of course.) What, and then try and buy it back? Needs to be a shared controlled experiment I think, maybe at this time of night might be good when there's not too much happening. Unless you secretly want extra amounts of a particular loan  . On second thoughts, you could try it now with an odd amount on PBL 10 (assuming you've bought some already that is!), still enough around at the moment, but you might have to wait 'till tomorrow to get your 'for sale' bit sold!
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Liz
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Post by Liz on Sept 15, 2014 23:12:42 GMT
How certain are people that the queue is indeed first in - first out ?
I've had the situation described by Liz happen to me a few times now. I put it down to a coding "feature" which means the queue is actually last in - first out. EDIT: Whether the buyer of the extra £150 was the seller or someone else, that could onlyhappen if the queue was last in - first out.
Strange but I put 3 loan parts up and im sure they didn't sell in the order I put them up! Im sure they sold 2,1,3. So neither LIFO or FIFO .
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Sept 15, 2014 23:14:19 GMT
Somebody just did it! I had 58.09 left on 08, no other sellers, that went upto 208.09, ie another seller of 150. A buy of 150 went through, but mine didn't sell, instead the new 150 was sold. You are absolutely correct. I put up the £150 after your £58.09 and was surprised that my loan part was 100% sold, but your £58.09 remained.
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star dust
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Post by star dust on Sept 15, 2014 23:18:37 GMT
In that case some clarification from savingstream wouldn't go amis, or better still a de-list my 'for sale' unit factility. |
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star dust
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Post by star dust on Sept 15, 2014 23:21:50 GMT
I see a load of PBL parts have just gone up for sale, that isn't you trying this out is it mikes1531?  |
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mikes1531
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Post by mikes1531 on Sept 16, 2014 1:32:24 GMT
I see a load of PBL parts have just gone up for sale, that isn't you trying this out is it mikes1531? In fact, those little bits of PBL001-4 were mine, though I didn't intend for it to be test. I suppose, however, if they're still for sale in the morning and the recent activity shows activity then someone else's units would have been sold before mine. One reason I offered them was I was considering buying more PBL010 and don't have any cash available. If they sell and there's still some PBL010 available I'd probably buy more. If the sales come too late for that, which seems rather likely at the moment, I'll use the proceeds to top up the cash supplies that I've run down with PBL008, PBL009, and PBL010.
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Post by yorkshireman on Sept 16, 2014 8:16:33 GMT
This all seems unnecessarily complicated, the simple answer is to think about what you are doing before putting a part up for sale.
Unlike some investments where you would sell with a view to buying back at a cheaper price, I cannot see why you would put something up for sale only to buy it back at the same price in such a short space of time as to be able to identify a specific part.
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mikes1531
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Post by mikes1531 on Sept 16, 2014 13:52:42 GMT
This all seems unnecessarily complicated, the simple answer is to think about what you are doing before putting a part up for sale.
Unlike some investments where you would sell with a view to buying back at a cheaper price, I cannot see why you would put something up for sale only to buy it back at the same price in such a short space of time as to be able to identify a specific part.
I think the problem is caused by SS's decision to stop paying the interest when a part is put up for sale. I expect people are putting parts up for sale because they really do want to sell them -- for whatever reason. But if they aren't sold quickly, then as pumpkin time approaches the lenders want to buy them back before midnight, see the interest accrue, and then put the parts up for sale again immediately afterwards. Is it really worth the 3p of interest per £100 loan part? Probably not, but it's all part of the SS experience.
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star dust
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Post by star dust on Sept 18, 2014 14:16:35 GMT
In terms of the FIFO discussion - I've just had another example of it working that way. Someone had a grand for sale on PBL 08, and I put up £100. Theirs went first, and I might have to shift some more soon (or hope someone else does) as I still have 2p unsold, and no money returned to me. I did wonder whether the apparent lack of operation of FIFO was anything to do with system timings in updating screens as there were so many people buying and selling at that time. It seems SS haven't enlightened us either way. In edit: BIG THANKS to whoever put me out of my 2p misery . |
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Liz
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Post by Liz on Sept 18, 2014 15:43:14 GMT
Dam! was just about to take out 1p best o keep £1 in your account in case of this senario. |
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