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Post by nesako on Jan 20, 2019 14:21:51 GMT
I really like GS and how easy it is to manage the account. Recent hit to PF did make me stop adding any new contributions (below 5% coverage is not great for business lending to me). I did not, however, remove any current funds from the platform, mainly because the company is very responsive and good to deal with. Here is the snipped from my conversation with the support:
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Post by p2plender on Jan 20, 2019 23:16:34 GMT
I think they need to boost the PF pretty quickly before funds start walking. They are a fairly new platform and an early haircut for investors would see them fail before they've even got started. Would be a shame as it's a nice lend and forget platform. Agree there customer support is excellent.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 21, 2019 3:40:57 GMT
Isn't hands off same as if you were to invest some ££ in every lendy loans? Like buying lendy wealth new offer? As they have over 50% default you'd have as well 50% of your loans in default. What would be the difference? I don't know how Lendy Wealth works in practice, but I see a big difference between investing via Ly and GS. With GS I'm earning my promised 5.x%. I don't need to do anything except occasional deposit or withdrawal. With Lendy I'm looking at substantial loss when (and if) the recoveries are complete. I've spent enormous amount of time on maintenance over past 2+ years. I know you have dislike of Lendy but there are still no demonstrable overall losses for you to make the assumptions you will make a substantial overall loss. What enormous amount of time in maintenance? You buy you then re invest or withdraw interest and repaid capital. What are your overall losses in Lendy to date after 2 Years + . Give us a Idea of what to expect by telling us of your actual experience. I egarly await your figures of your return/losses in those 2+ years. I and others do like real case studies to help our decisions. Update just checked my return over last 2 years in Lendy on over £200k was 11.7% on compleatd loans.
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Post by df on Jan 21, 2019 14:35:47 GMT
I don't know how Lendy Wealth works in practice, but I see a big difference between investing via Ly and GS. With GS I'm earning my promised 5.x%. I don't need to do anything except occasional deposit or withdrawal. With Lendy I'm looking at substantial loss when (and if) the recoveries are complete. I've spent enormous amount of time on maintenance over past 2+ years. I know you have dislike of Lendy but there are still no demonstrable overall losses for you to make the assumptions you will make a substantial overall loss. What enormous amount of time in maintenance? You buy you then re invest or withdraw interest and repaid capital. What are your overall losses in Lendy to date after 2 Years + . Give us a Idea of what to expect by telling us of your actual experience. I egarly await your figures of your return/losses in those 2+ years. I and others do like real case studies to help our decisions. Update just checked my return over last 2 years in Lendy on over £200k was 11.7% on compleatd loans. Maintenance. It wasn't easy to buy on SM. I recall staying up until 2am in order to get some scraps to build some portfolio at the beginning. Also spent time reading VR's, assessing the risk, making decisions what and when to sell etc. Generally, I've spent much more time on platforms like Ly as opposed to GS. Losses. I don't know what they are because I can't predict the results and timeframe of recoveries (neither I can predict the outcome of "London" case). ATM my portfolio consists of non-performing loans only, totalling twice the amount of my historical earnings. So if I get back half of my invested capital I should break even, but I'll still loose interest I could've potentially earned if I invested this money elsewhere with more stable returns. I'll be happy to post figures when all losses are crystallised. Until then, my "substantial loss" is no more than guess/speculation.
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Jan 22, 2019 0:38:41 GMT
I know you have dislike of Lendy but there are still no demonstrable overall losses for you to make the assumptions you will make a substantial overall loss. What enormous amount of time in maintenance? You buy you then re invest or withdraw interest and repaid capital. What are your overall losses in Lendy to date after 2 Years + . Give us a Idea of what to expect by telling us of your actual experience. I egarly await your figures of your return/losses in those 2+ years. I and others do like real case studies to help our decisions. Update just checked my return over last 2 years in Lendy on over £200k was 11.7% on compleatd loans. Maintenance. It wasn't easy to buy on SM. I recall staying up until 2am in order to get some scraps to build some portfolio at the beginning. Also spent time reading VR's, assessing the risk, making decisions what and when to sell etc. Generally, I've spent much more time on platforms like Ly as opposed to GS. Losses. I don't know what they are because I can't predict the results and timeframe of recoveries (neither I can predict the outcome of "London" case). ATM my portfolio consists of non-performing loans only, totalling twice the amount of my historical earnings. So if I get back half of my invested capital I should break even, but I'll still loose interest I could've potentially earned if I invested this money elsewhere with more stable returns. I'll be happy to post figures when all losses are crystallised. Until then, my "substantial loss" is no more than guess/speculation. Thank you for your reply. We all hope defaults (on all platforms) don't materalize as loss. In Lendy loans that fully are recovered should have a bonus that helps even out returns,
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cwah
Member of DD Central
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Post by cwah on Jan 22, 2019 21:57:45 GMT
I also have a very substantial amount of non performing loan with lendy. I may as well have a 5 figures loss... Who knows...
But I don't think you get my point. I'm not defending lendy here, and I'm not trying to sell lendy wealth either.
My point is "you don't know who is swimming naked until the tides go out" (buffett quote).
2 years ago when lendy was at its peak, everybody was making money and people were buying immediately any available loan. It was working so well that some were using lendy like their bank account and lendy was gradually lowering interest rate.
And then... I still remember this date. It was on brexit vote. There suddently was a spike where everybody wanted to sell. And we all had our loan locked cos no one could sell.
It degraded really quickly. No one could have anticipated. It went from a super fluid market to an impossibility to sell one.
I also remember I needed to take my cash out because I needed it for my mortgage deposit. It suddenly became impossible.
Then... Things became worse.. loan started to become suspended. So I became locked to the loans from a single trigger event that changed everything in a blink of an eye.
So my warning for GS investors... Is that as long as the tide is high you'll be happy with your funds back + interest. But the day it goes out, you may loose much more than what you earned over the years.
I can't understand how on earth people can say this is one of the best platform because it's hiding any information necessary to value the solidity of the borrower ability to repay.
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Post by gravitykillz on Jan 23, 2019 0:48:36 GMT
I also have a very substantial amount of non performing loan with lendy. I may as well have a 5 figures loss... Who knows... But I don't think you get my point. I'm not defending lendy here, and I'm not trying to sell lendy wealth either. My point is "you don't know who is swimming naked until the tides go out" (buffett quote). 2 years ago when lendy was at its peak, everybody was making money and people were buying immediately any available loan. It was working so well that some were using lendy like their bank account and lendy was gradually lowering interest rate. And then... I still remember this date. It was on brexit vote. There suddently was a spike where everybody wanted to sell. And we all had our loan locked cos no one could sell. It degraded really quickly. No one could have anticipated. It went from a super fluid market to an impossibility to sell one. I also remember I needed to take my cash out because I needed it for my mortgage deposit. It suddenly became impossible. Then... Things became worse.. loan started to become suspended. So I became locked to the loans from a single trigger event that changed everything in a blink of an eye. So my warning for GS investors... Is that as long as the tide is high you'll be happy with your funds back + interest. But the day it goes out, you may loose much more than what you earned over the years. I can't understand how on earth people can say this is one of the best platform because it's hiding any information necessary to value the solidity of the borrower ability to repay. I think the morale of the story is 'dont put all your eggs into one basket'
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ceejay
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Post by ceejay on Jan 23, 2019 14:09:29 GMT
I think the moral e of the story is 'dont put all your eggs into one basket' Yes, that. And also "don't use P2P investments for funds you might need in the short term."
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