IFISAcava
Member of DD Central
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Post by IFISAcava on Dec 12, 2018 10:25:06 GMT
Not really, no. £120k of #544 is currently offered for sale, so your other PSA / GBBA2 loans with no (or low) availability were always likely to sell much faster. Which is what annoys me about these automated accounts, dumping large amounts of loans nobody would choose to invest in into one's account, then you seemingly cannot get rid of them. Which is why the MLA is better, as you can always sell at a discount if you need to.
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JamesFrance
Member of DD Central
Port Grimaud 1974
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Post by JamesFrance on Dec 12, 2018 10:53:18 GMT
I would not have invested in that loan, with only one month to go, now extended as unable to repay on time and certainly not a much larger sum than other loans in the portfolio. Just because a loan is large ls no reason to invest more into it. Otherwise manual is too time consuming for larger amounts when you want to be well diversified with say 1% per loan.
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Post by hammertime on Dec 12, 2018 13:17:42 GMT
If you want to be well diversified with out the risk then you need to put the time in . If you want to be well diversified and not check what you are getting then you could get any loan thrown at you that no one else wants .The choice is yours.
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travolta
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Post by travolta on Dec 12, 2018 17:59:16 GMT
If you want to be well diversified with out the risk then you need to put the time in . If you want to be well diversified and not check what you are getting then you could get any loan thrown at you that no one else wants .The choice is yours. A smart answer. GBBA misled early clients with their homespun assurances of diversification and then shafted many with the percentage of investment pot get out when they had large loan books to match . Its caused many investors to doubt the credence of the site and leave . It must give you a warm glow to be so astute.
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rscal
Posts: 985
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Post by rscal on Dec 13, 2018 9:17:10 GMT
Manual selection of accounts IS slower of course but so would be an algorithmic allocation of funds limited to only 'safely performing' loans. These loans are more in demand and less in supply. Their 'price' (interest rate) is somewhat fixed so even if you could put in an order instantly for 100 loans the time to invest would be protracted. Thus, when AC dips you into the poisoned well of near term iffy loans seemly 'instantly' you ARE accruing interest @6.25% /5.50% without any 'cash drag' aren't you? It is in that sense a 'benefit' to investors and the site alike.
Interesting discussion. Now, how to find 'the door'. Thoughts?
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alibaba
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Post by alibaba on Dec 13, 2018 9:34:27 GMT
If you want to be well diversified with out the risk then you need to put the time in . If you want to be well diversified and not check what you are getting then you could get any loan thrown at you that no one else wants .The choice is yours. A smart answer. GBBA misled early clients with their homespun assurances of diversification and then shafted many with the percentage of investment pot get out when they had large loan books to match . Its caused many investors to doubt the credence of the site and leave . It must give you a warm glow to be so astute.
Well said, since I was shafted by AC (19k in one loan ) I have been trying to remove funds and re invest in more credible and transparent p2p sites, unfortunately this is going to take years with possibly substantial losses. I agree with hammertimes comments but in my naivety I expected a more professional approach from AC. As they say, an old fool etc. .
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Post by hammertime on Dec 13, 2018 10:40:35 GMT
We all live and learn from out experiences.
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Post by bikeman on Dec 17, 2018 22:30:13 GMT
A smart answer. GBBA misled early clients with their homespun assurances of diversification and then shafted many with the percentage of investment pot get out when they had large loan books to match . Its caused many investors to doubt the credence of the site and leave . It must give you a warm glow to be so astute.
Well said, since I was shafted by AC (19k in one loan ) I have been trying to remove funds and re invest in more credible and transparent p2p sites, unfortunately this is going to take years with possibly substantial losses. I agree with hammertimes comments but in my naivety I expected a more professional approach from AC. As they say, an old fool etc. .
AC have a track record of repeatedly fking up diversification and you would be wise to avoid them. Hammertime is the only person here who has anything good to say about AC - one wonders if he is an employee.
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Post by brightspark on Dec 18, 2018 9:05:56 GMT
I would say your criticism is unduly harsh. I too am caught up in an underperforming GBBA1 loan and am waiting for resolution. Fortunately only a small sum is involved as it was a toe in the water experience. Since then I have stuck to MLIA and have had no disasters in particular avoiding a series of ill judged wind turbine loans. I would opine that AC's due diligence is on an upward trend though things can always go wrong. My mantra remains diversify diversify not only within platform but also between platforms and do not risk in any loans more than you can afford to lose. On this basis AC is a reasonable performer - not perfect but reasonable. The more serious issue is where is the property market as a whole heading with Brexit so close. If it is a financial disaster attention will undoubtedly switch from quality of investment to skill in recoveries.
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Post by hammertime on Dec 18, 2018 10:23:51 GMT
No i'm not a employee of A/C.Its just that i've had no real problems and i'm getting a very good 11% interest .After being at F/C for a number of years A/C is a breath of fresh air .Maybe you have just been unlucky Bikeman.
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Post by bikeman on Jan 12, 2019 19:32:54 GMT
I would say your criticism is unduly harsh. .... My mantra remains diversify diversify A shame that AC don't share your mantra with the GBBA and GEIA accounts. In respect of these accounts Assetz Capital were woefully incompetent. I stand by my criticism of them.
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Post by brightspark on Jan 12, 2019 20:33:18 GMT
I agree re the GBBA accounts and with respect to some of their early loans generally. They have learnt from their experiences unlike some other platforms that currently limp from one disaster to the next. I used to invest on 6 platforms but now have only active loans via AC. Where too next is the imponderable as after the Collateral debacle I am reluctant to over-commit on any platform.
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alibaba
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Post by alibaba on Jan 12, 2019 21:06:55 GMT
I would say your criticism is unduly harsh. .... My mantra remains diversify diversify A shame that AC don't share your mantra with the GBBA and GEIA accounts. In respect of these accounts Assetz Capital were woefully incompetent. I stand by my criticism of them.
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alibaba
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Post by alibaba on Jan 12, 2019 21:14:59 GMT
A shame that AC don't share your mantra with the GBBA and GEIA accounts. In respect of these accounts Assetz Capital were woefully incompetent. I stand by my criticism of them. I entirely agree with you criticism of AC, the handling of these accounts has been shameful,they have lost a tremendous amount of credibility and it will cost them dearly, I have been removing my six figure sum and in my opinion a number of others will be winding down there investments, albeit more quietly.
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Post by captainconfident on Jan 13, 2019 11:38:14 GMT
I agree re the GBBA accounts and with respect to some of their early loans generally. They have learnt from their experiences unlike some other platforms ....... That's very nice for AC, but I for one am not grateful to have been part of helping them in their learning experience. All very nice for new investors but for the ones who trusted this platform in its early days and offered the financing they needed to build the platform they have today, well we were sold down the river. They preached the word 'diversify', while offering us their then "black box" investment accounts saying "Trust us to invest for you". When we were shown the truth as to what they had done, 20% of the money was in the largest single loans they had taken on at that time. Which then of course defaulted. Nice fees for them, never a word of apology or contrition to us.
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