Godanubis
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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 Jul 22, 2019 21:57:14 GMT
I will once again post to remind investors that godanubis’ accounting is totally wrong. Not going to do a lesson on IRFS 9 but let’s just say recognising all the accrued interest and no capital loss on clearly defaulted loans is not correct. As he gets that wrong then his stated returns are meaningless. 15% return where you will likely never receive that interest or the capital returned is accounting with the fairies. I suspect we have somebody who knows they called this one wrong with head firmly in the sand. I fully agree. However, I would hope you would also agree that a large number of people have and continue to make significant returns through FS. Some win, some lose, that's unfortunately the outcome when playing this risky game. All returns are those paid into my account not accrued interest as I hold very little to completion. I do not by any means act as a static low input investor. I do take advantage of all preferential SM parts it takes time and a very large amount or very small amount of investment to make the best returns for least risk.
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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 Jul 22, 2019 21:59:01 GMT
Arby I have no access to such information. I can’t imagine that a large number of people make a profit from a site with such high levels of defaults. And platform risk for any flipping strategy is surely too high to risk. Those that can make profit do. Those that can’t just moan about it. 
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nw99
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Post by nw99 on Jul 23, 2019 6:29:03 GMT
Totally agreed too many defaults to make trading a success here .
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SteveT
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Post by SteveT on Jul 23, 2019 6:45:20 GMT
I fully agree. However, I would hope you would also agree that a large number of people have and continue to make significant returns through FS. Some win, some lose, that's unfortunately the outcome when playing this risky game. All returns are those paid into my account not accrued interest as I hold very little to completion. I do not by any means act as a static low input investor. I do take advantage of all preferential SM parts it takes time and a very large amount or very small amount of investment to make the best returns for least risk. Ermm, that doesn't tally with what you said 2 months ago (see here) when you admitted that 60% of your FS loan book already was untradeable (ie. overdue or <30 days remaining). With so few FS loan redemptions recently, my guess is that figure is now 70+% and rising. Do tell us what the actual figure is. You may not want to admit it to yourself, but you're in the same boat as everyone else: locked into FS zombie loans that you now cannot sell.
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coop
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Post by coop on Jul 23, 2019 11:20:13 GMT
All returns are those paid into my account not accrued interest as I hold very little to completion. I do not by any means act as a static low input investor. I do take advantage of all preferential SM parts it takes time and a very large amount or very small amount of investment to make the best returns for least risk. Ermm, that doesn't tally with what you said 2 months ago (see here) when you admitted that 60% of your FS loan book already was untradeable (ie. overdue or <30 days remaining). With so few FS loan redemptions recently, my guess is that figure is now 70+% and rising. Do tell us what the actual figure is. You may not want to admit it to yourself, but you're in the same boat as everyone else: locked into FS zombie loans that you now cannot sell. So 15-20% return on investment per annum; however 65% of that investment is now frozen and if you're lucky you'll get 75% of that 65% back - so maybe break even?
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09dolphin
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Post by 09dolphin on Jul 23, 2019 15:46:32 GMT
Guys be a bit more gentle with Godanubis. It must be the most awful shock to him to discover his expected 15% return is now possibly a negative figure when he has defended FS so staunchly for so long.
He is now in the same position a lot of FS investors are - facing a capital loss and it's not a pleasent position to be in.
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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 Jul 23, 2019 16:30:21 GMT
Guys be a bit more gentle with Godanubis. It must be the most awful shock to him to discover his expected 15% return is now possibly a negative figure when he has defended FS so staunchly for so long. He is now in the same position a lot of FS investors are - facing a capital loss and it's not a pleasent position to be in. Like Boris time will tell . In 6 months even if everything I’m currently invested was 100% loss I would still have made a profit overall
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james21
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Post by james21 on Jul 23, 2019 18:26:12 GMT
You are blocked but curious what you wrote; glad I did; hilarious, keep them coming
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adrian77
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Post by adrian77 on Jul 23, 2019 18:51:56 GMT
I don't understand the maths here could you possibly elaborate because I am clearly missing something. I liquidated 70% of my portfolio (at a small profit) but if the remaining stump lost 100% then I would take a hefty loss - as it is I may or may not just break even which considering the amount of DD and trading I have done has not been worthwhile but clearly I am a financial wazzock..
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arby
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Post by arby on Jul 23, 2019 19:02:04 GMT
I don't understand the maths here could you possibly elaborate because I am clearly missing something. I liquidated 70% of my portfolio (at a small profit) but if the remaining stump lost 100% then I would take a hefty loss - as it is I may or may not just break even which considering the amount of DD and trading I have done has not been worthwhile but clearly I am a financial wazzock.. His maths seems funny but so does yours at time. You said that if your outstanding loans recovered at 50% you'd make a small profit. Half of your outstanding subsequently did make a full recovery (plus interest). This means you could make a 100% loss on your remaining loans and still make a profit. Maybe you looked at it again in more detail, or maybe you just made a mistake, either way, it's no big deal. None of us have to sign a declaration that we have provided a full and complete overview of our position to the best of our knowledge. I'm sure there are inconsistencies or errors in most things people have written. Just move on. Some people want FS to succeed, others are just interested bystanders, and others take seem to derive joy from pointing out bad news. Each to their own.
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song
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Post by song on Jul 23, 2019 19:11:43 GMT
I don't understand the maths here could you possibly elaborate because I am clearly missing something. I liquidated 70% of my portfolio (at a small profit) but if the remaining stump lost 100% then I would take a hefty loss - as it is I may or may not just break even which considering the amount of DD and trading I have done has not been worthwhile but clearly I am a financial wazzock.. Should not bother yourself Adrian77 punters are generally deluded that they never lose apparently a common phenomenon.
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adrian77
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Post by adrian77 on Jul 23, 2019 19:35:00 GMT
fair point - I like a drink but am not alcoholic...
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adrian77
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Post by adrian77 on Jul 25, 2019 8:04:01 GMT
I am quite honest thank you - as I have said I have had a few fun punts. As to why anybody would try and find fault with my figures puzzles me but it was anticipated ! I am on track for making a very small profit but may hit a small loss. I guess my situation is typical? Apart from certain financial geniuses who post on this platform that is!
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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 Jul 25, 2019 23:42:05 GMT
I don't understand the maths here could you possibly elaborate because I am clearly missing something. I liquidated 70% of my portfolio (at a small profit) but if the remaining stump lost 100% then I would take a hefty loss - as it is I may or may not just break even which considering the amount of DD and trading I have done has not been worthwhile but clearly I am a financial wazzock.. Should not bother yourself Adrian77 punters are generally deluded that they never lose apparently a common phenomenon. Maths is simple say 500K invested 5 years ago. Profit from interest and sales etc 300K+ Withdraw 600k any loss of remainder is loss of previous profit. You will have consolidated some profit so can’t have a loss in that 5 year cycle. Consolidating throughout reduces the overall return due to no compounding effect but reduces risk of loss of original capital.
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adrian77
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Post by adrian77 on Jul 26, 2019 5:57:43 GMT
I don't think many of us have had 12% profit over 5 years especially considering the high level of defaults. I thought you quoted much higher returns? Mind you a lot of us have withdrawn 75% as you have which was a good move although not sure why you did it earning these stellar returns - interesting...
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