adrian77
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Post by adrian77 on Aug 4, 2019 13:24:03 GMT
Below is the top part of update 19 whilst I cut it down to size Well I guess the only recent good news is that the Park Homes fiasco is now closed. Thus I have updated my list with the below and am currently tidying up my top 40 9a) 2 Park Homes 7 x £33K loans = £231K lent as first/second/third charges. First charge 5 x 33K = 165K – recovered 13,840 viz 91.6% loss Second charge 1 x 33K – recovered – zero - 100% loss Third charge 1 x 33K – recovered – zero - 100% loss 9b) 5 park homes loans : 3 x £57K = £171K lent as first charge = recovery of £24,893.10 viz 85.4% loss! Overall FS lent £231 + £171 = £402K with overall return of £13,840 + £24,893,10
= 38,733.10/402,000 = 9.6% recovery or 90.4% loss! Adrian77 prediction: First charge league1 but actual was Premier league Other charges 100% loss as predicted for original top 40 listing please see mega updates 19 as you will need a scroll wheel whilst I am cutting it down to size p2pindependentforum.com/thread/15382/league-predicted-mega-failures-update?page=1&scrollTo=340967 |
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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 Aug 4, 2019 21:47:07 GMT
Below is the top part of update 19 whilst I cut it down to size Well I guess the only recent good news is that the Park Homes fiasco is now closed. Thus I have updated my list with the below and am currently tidying up my top 40 9a) 2 Park Homes 7 x £33K loans = £231K lent as first/second/third charges. First charge 5 x 33K = 165K – recovered 13,840 viz 91.6% loss Second charge 1 x 33K – recovered – zero - 100% loss Third charge 1 x 33K – recovered – zero - 100% loss 9b) 5 park homes loans : 3 x £57K = £171K lent as first charge = recovery of £24,893.10 viz 85.4% loss! Overall FS lent £231 + £171 = £402K with overall return of £13,840 + £24,893,10
= 38,733.10/402,000 = 9.6% recovery or 90.4% loss! Adrian77 prediction: First charge league1 but actual was Premier league Other charges 100% loss as predicted for original tip 40 listing please see mega updates 19 as you will need a scroll wheel whilst I am cutting it down to size p2pindependentforum.com/thread/15382/league-predicted-mega-failures-update?page=1&scrollTo=340967To give a balanced view of the loans put on your predicted loss list from the start that have now completed.
How many of the predicted losses actually paid in full and how many were losses ?? 
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adrian77
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Post by adrian77 on Aug 5, 2019 7:39:47 GMT
This is being done - as I have frequently said I called the cinema and Da**ds Green 100% wrong. That said both of these loans were flipped but a good result for the investors is a good result.
if my top 40 (actually it is 41 as I lumped together the endurance and speedboats) only 2 have repaid in full - all the others are going to be extremely late. If another 4 come good which I think is extremely unlikely then the failure rate will be 34/40 = 85%.
I will do a summary table when these loans are eventually finalised but as of today my list is performing much worse than I expected so glad I have not poured serious money into FS.
We already have 5 loans with 100% losses - Wimbledon (tbc), Knaresborough, South Wales Hotel and 2 x park homes.
I came to FS as I sold up with *unding *ircle which was clearly a good move but I was too quick to invest in FS - however I held back as I saw numerous warnings on this forum which I just love...
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bigfoot12
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Post by bigfoot12 on Aug 5, 2019 7:49:24 GMT
We already have 5 loans with 100% losses - Wimbledon (tbc), Knaresborough, South Wales Hotel and 2 x park homes. I don't think Knaresborough is a 100% loss - I have had a ~12% recovery so far. There is another BTL property which should provide more, but it is taking a long time, perhaps there is a problem. However, 75% loss is looking very likely. FS has made an appalling mess of many of its loans, there is no need to exaggerate to make them look bad, you call your own credibility into question, whatever your motivation.
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adrian77
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Post by adrian77 on Aug 5, 2019 8:38:35 GMT
As per my listing I was referring to the below i.e. 3rd charge
As I have said on numerous times I was simply validating my investment decision criteria - as I do with my day trading in gold and currencies - "fail to plan - plan to fail" as they say.
Given the atrocious returns with many of the Funding Secure (secure!) loans I am simply sticking to a few fun punts until I see a major turnaround as FS strikes me more like spread betting in junk bonds than secure asset based lending - just my opinion - I thank you.
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arby
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Post by arby on Aug 5, 2019 8:46:35 GMT
As per my listing I was referring to the below i.e. 3rd charge As I have said on numerous times I was simply validating my investment decision criteria - as I do with my day trading in gold and currencies - "fail to plan - plan to fail" as they say. Given the atrocious returns with many of the Funding Secure (secure!) loans I am simply sticking to a few fun punts until I see a major turnaround as FS strikes me more like spread betting in junk bonds than secure asset based lending - just my opinion - I thank you. A fun punt should never cause the degree of animosity you have! 😂
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gc
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Post by gc on Aug 5, 2019 9:07:38 GMT
Been doing this for a few years now, and the way I have seen FS perform over the past year or so, one would stand a better chance of return by betting your lot on number 37 on a roulette table!
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adrian77
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Post by adrian77 on Aug 5, 2019 9:09:04 GMT
ooh I don't know ! However I am not bothered about me - what I am bothered about is the people who have possibly lost loads in the art loans etc and the pensioners etc who can ill afford to lose money - have I any regrets - answers on a digital postcard...
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Doc
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Post by Doc on Aug 5, 2019 9:35:01 GMT
adrian77 , why a new thread for every update?, if I recall correctly didn't mrclondon ask you to stick to the one thread?
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