blender
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Post by blender on Nov 13, 2014 8:53:09 GMT
My you've got it easy. "There are comments for 169 loans you are currently exposed to. 85 are downgraded." Put me away now! There are comments for 190 loans you are currently exposed to. 92 are downgraded. ..........Is this a record? That could be a record, but I think there would have to be separate categories for males and females - whatever the species, pig or plaice.
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markr
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Post by markr on Nov 13, 2014 9:32:25 GMT
valerieb I need counselling but I have no money, only property loan parts that I can't sell. I think I've got a pair of ladies J**ns round here somewhere that might fit you better than they do me, will they do?
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blender
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Post by blender on Nov 13, 2014 10:15:40 GMT
Valerie b careful. It is a well known fact that all FC Zombies wear ladies designer jeans, from a legendary stock supposed to be worth £2 million.
I see that the notes were updated yesterday, announcing another 10 week process which will approach the second anniversary of the last payment made. (I don't have it - sold it when it first came back from late, those were the days.)
ps Good to see an ex Spice Girl on the forum.
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min
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Post by min on Nov 13, 2014 12:35:09 GMT
Ah, so you're the one diversified to 0.05% in any one loan then? 8>. You might think that- I couldn't possibly comment. Mainly because FC reckon my max exposure to any one business is 0.4% but I have no idea where they get that figure from. I cannot see a way of working out where I may have multiple loans to the same company.
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Post by GSV3MIaC on Nov 13, 2014 12:44:23 GMT
The only way to do it is to download the loanbook.csv from the stats page, and unravel the .csv file column which lists the other loans which tie up with each loan, then you need to add up your exposure to all of those .. not exactly an easy exercise, unless you are well into databases, spreadsheets, et. al.
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oldgrumpy
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Post by oldgrumpy on Nov 13, 2014 13:03:35 GMT
699 businesses, 70 comments, 24 downgraded ..... a bit "middle-of-the-road" really.  |
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fasty
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Post by fasty on Nov 13, 2014 20:13:23 GMT
646 businesses, 49 comments, 13 downgraded ..... I'm not feeling quite so paranoid now.
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Post by bracknellboy on Nov 13, 2014 21:10:23 GMT
646 businesses, 49 comments, 13 downgraded ..... I'm not feeling quite so paranoid now. Well I reckon that's pretty damn good: unless of course your portfolio is all pretty fresh out the wrapper. I'm currently at a count of 301/54/21 But I do think you are all missing the point some what. Its not the QUANTITY of loans for which you have comments, its the QUALITY of the comments. I am - unfortunately - still the proud owner of a tranche of Arthur Daley's Very Dodgy Motors. An absolute premium A+ rated loan that went belly up by 3rd payment (not including the late first payment). About 30 months later, it is still grinding on. Only now 156 days late but not defaulted (fine by me: the partial payments aren't being made even more partial by recovery fees). I can't be a*****d bothered to work out how many screens these comments cover -esp. since FC increased its white space utilisation - but I'm sure its not doing much good for the loading time on my Summary page.
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Post by p2perrr on Nov 13, 2014 21:45:53 GMT
495/31/1, but I'm only a baby at this: started end-ish of July. ... it can't last  |
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fasty
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Post by fasty on Nov 13, 2014 21:49:43 GMT
The quality of some of my loan comments is excellent. Indeed, the fascinating Adventures of Crappy Scrappy almost made it worth the investment in the first place. More imaginative than The Archers. As for the others, I've been lurking on FC for a couple of years now so the portfolio is not entirely fresh, although it has ramped up a bit as I have gained more confidence. I attribute the tolerably low losses largely to ideas gleaned from this forum, plus a few simplistic ideas of my own. Any loan that's even a moment late without a damn good excuse is summarily executed on the altar of the secondary market. Older, low performing loan parts are routinely culled and replaced (although I'm not yet fully signed up to the 8 month deadline; it would take too much work). Only loans better than about MBR+1% survive. Credit rating steady=potentially OK, bid. Steady slope up=good, buy more. Slope down=bad, buy none.
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markr
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Post by markr on Nov 13, 2014 23:22:27 GMT
"There are comments for 87 loans you are currently exposed to. 55 are downgraded." Oddly enough, today it is "There are comments for 85 loans you are currently exposed to. 52 are downgraded." I have no idea where the 3 downgraded loans have gone!
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fasty
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Post by fasty on Nov 13, 2014 23:33:35 GMT
"There are comments for 87 loans you are currently exposed to. 55 are downgraded." Oddly enough, today it is "There are comments for 85 loans you are currently exposed to. 52 are downgraded." I have no idea where the 3 downgraded loans have gone! On a couple of occasions I was puzzled by a diminishing number of downgraded loans. In each case, they turned out to be loans that had been downgraded because they were about to be paid off in full (typically because the borrower was taking a new loan, or else FC had discovered an admin cock-up and intended to re-launch the loan)
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blender
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Post by blender on Nov 13, 2014 23:57:09 GMT
The quality of some of my loan comments is excellent. Indeed, the fascinating Adventures of Crappy Scrappy almost made it worth the investment in the first place. More imaginative than The Archers. As for the others, I've been lurking on FC for a couple of years now so the portfolio is not entirely fresh, although it has ramped up a bit as I have gained more confidence. I attribute the tolerably low losses largely to ideas gleaned from this forum, plus a few simplistic ideas of my own. Any loan that's even a moment late without a damn good excuse is summarily executed on the altar of the secondary market. Older, low performing loan parts are routinely culled and replaced (although I'm not yet fully signed up to the 8 month deadline; it would take too much work). Only loans better than about MBR+1% survive. Credit rating steady=potentially OK, bid. Steady slope up=good, buy more. Slope down=bad, buy none.
That's also my selling practice. Sell anything that comes back from late or RBR. All C- gone, the last Cs going - because the risk profile is un-necessarily high. Any loan number starting with a 4 or less up for sale at reasonable rates (except the car supermarket). Trying to maintain MBR +2% as the standard to keep. Only buy high marginal interest rate loans preferably with cashback (mostly property) and don't worry about diversity if secured. Do not trust FC's banding - check credit rating, current ratio and net worth excluding intangibles. (This is not advice, but six loans downgraded after 27 months means it works for me!)
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mikeb
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Post by mikeb on Nov 14, 2014 19:44:37 GMT
Oddly enough, today it is "There are comments for 85 loans you are currently exposed to. 52 are downgraded." I have no idea where the 3 downgraded loans have gone! If you had a bit of 649 (I think), that finally coughed up its last payment today-ish, and fell off the downgraded list. Two other 8XXX recent ones that were "listed in error and due to be settled and relisted" also popped off. It does take some hunting to find them.
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dorset
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Post by dorset on Nov 16, 2014 21:45:26 GMT
As of today I have 1004 businesses with 94 comments and 30 downgrades. Been investing since mid 2012 and bad debts are running at less than 1% per year. As a retired FTSE plc FD with time on my hands I have developed a series of metrics which seem (so far) to be filtering out some of the rubbish.
Without giving away too much detail there are some obvious filters:
I only invest in loans of up to 36 months I avoid all small businesses that are sole trader type enterprises (for example nothing under £200k t/o) I avoid any loan where reasonable questions are unanswered I used to flip as soon as an adverse comment appeared (now difficult) I avoid any business with negative equity I generally concentrate on businesses that are seeking capital deepening finance rather than capital widening finance
Clearly lots of business fall outside my criteria and are very successful - but I just seek to reduce the risk.
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