littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 4, 2019 15:14:56 GMT
Yes, I do try to do that, but keeping up with 26 platforms is pretty consuming. And not helped by the fact that the Recent-T list doesn't show which platform a comment relates to (phase can someone with some relevant programming knowledge have a go at fixing this?). I have fairly drastically reduced the number of platforms I use, partly because of more perceived risk and partly just because it does become too difficult to keep track of them properly. I have taken the opposite view and invest in as many platforms as possible for diversification. You are right about the time overhead - it helps if you are retired.
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Greenwood2
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Post by Greenwood2 on Jun 4, 2019 15:21:22 GMT
Some people reading this too-short list might wrongly construe that these six platforms are to be avoided, because they all currently face a very high risk of collapse.
Why, for example, is Kufflink (sic) named?
It should be a list of all the platforms (not a short list), but I assume it is showing the platforms the person who started the poll is familiar with or has some problem with. If it's meant to be a real short list of platforms likely to fail I would say it's way off, some that would be at the top of my list are not mentioned and some I think are unlikely to fail are included, rather unfair to single out a few platforms. If the poll was repeated with a full list of platforms I would also like to pick more than one!
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blender
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Post by blender on Jun 4, 2019 21:03:11 GMT
I think the whole thread is a bad idea. It's like turkeys voting for Xmas. (sorry ashtondav)
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Post by gravitykillz on Jun 4, 2019 21:16:00 GMT
This is a bad omen for funding secure.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2019 7:27:44 GMT
I think the whole thread is a bad idea. It's like turkeys voting for Xmas. (sorry ashtondav) It may be a bad idea for those with money stuck in the platform. It may be a good idea for newbies who are considering investing. As one of the former I am not happy with the idea that it would improve my chances of recovery if more suckers were enticed into the FS mire.
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blender
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Post by blender on Jun 5, 2019 8:14:55 GMT
I think the whole thread is a bad idea. It's like turkeys voting for Xmas. (sorry ashtondav) . It may be a good idea for newbies who are considering investing. As one of the former I am not happy with the idea that it would improve my chances of recovery if more suckers were enticed into the FS mire. Yes, quite. I agree that those in the platform should not encourage more Funding Suckers just to improve their liquidity, but the votes on this thread can be quite influential and could tend to cause the tragedy predicted, in the way of a self-fulfilling prophecy. Remember Ratners? I have no money in any of the named platforms, apart from residuals in FC, the Hotel California of p2p.
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bg
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Post by bg on Jun 5, 2019 8:55:44 GMT
It may be a bad idea for those with money stuck in the platform. It may be a good idea for newbies who are considering investing. As one of the former I am not happy with the idea that it would improve my chances of recovery if more suckers were enticed into the FS mire. Yes, quite. I agree that those in the platform should not encourage more Funding Suckers just to improve their liquidity, but the votes on this thread can be quite influential and could tend to cause the tragedy predicted, in the way of a self-fulfilling prophecy. Remember Ratners? I have no money in any of the named platforms, apart from residuals in FC, the Hotel California of p2p.
I really don't think its a good idea at all, it is merely speculation and scaremongering. Bear in mind that this is the same population of people that held Lendy and Col to be the gold standard of P2P lenders a very short time ago. 55 votes on 6 (random) platforms when there are hundreds of thousands of P2P investors and several dozen platforms really doesn't mean anything.
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zlb
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Post by zlb on Jun 5, 2019 13:15:07 GMT
The main thing about p2p is they should be profitable and independently audited with a healthy provision fund. That's what I am looking for in p2p. what if there was a healthy provision fund, which deteriorates or is never used, or is used as security, but you can't get your money out at that time?
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james21
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Post by james21 on Jun 5, 2019 17:03:34 GMT
FS I would think are vulnerable, their model derives most of their income when a loan is paid back, trouble is there is a large backlog of under performing over running loans, they had a massive expansion late 2017 to mid 2018 and put all their efforts into growing the business but they neglected managing the loan book, the new owners will have put money in and a loan against the security of their HQ will have bought time. Unfortunately their continued bad management of the loan book may be their downfall, I hope not but they have to get a grip on managing the book and there is not much evidence of that at present. The new boys dont seem to have made much of an impact. Jury is out they can pull it back but had better get a mover on
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m2btj
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Post by m2btj on Jun 6, 2019 7:10:52 GMT
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nummo
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Post by nummo on Jul 25, 2019 7:53:52 GMT
Interesting read - according to that the platforms improve the longer they stay alive. Not sure that is backed up by the facts!
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jo
Member of DD Central
dead
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Post by jo on Jul 25, 2019 15:09:47 GMT
Interesting read - according to that the platforms improve the longer they stay alive. Not sure that is backed up by the facts! Lindy effect! 
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Post by martin44 on Jul 31, 2019 21:22:56 GMT
FS cannot survive much longer based on their "offer" "fund" "forget" strategy..... so many lenders are going to get their fingers burned in the very near future...  |
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Post by martin44 on Jul 31, 2019 21:41:32 GMT
I think you should re-open this thread poll.. and let it evolve over time.. there could be some interesting changes based on lender confidence .
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p2pfan
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Full-Time Investor
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Post by p2pfan on Aug 8, 2019 23:50:31 GMT
I think you should re-open this thread poll.. and let it evolve over time.. there could be some interesting changes based on lender confidence . I'd second this. If a platform goes down there is a lot of pain for a lot of investors, so sharing our insights on which ones are most like to go the way of the dodo would be useful for all of us. Another poll would be terrific, with a lot more platforms to choose from. Thanks.
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