pip
Posts: 542 
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Post by pip on Oct 23, 2019 15:03:53 GMT
A wholly unscientific way to compare wounds. Poll ends tomorrow.
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Post by mrclondon on Oct 23, 2019 15:28:12 GMT
Twice my exposure on L, four times my exposure on COL ... but thankfully less than half of my exposure on FS of 12 months ago.
Co-incidentally (and before todays news was known) I have been asked today about my opinion on another p2p platform, one that as it happens doesn't have a SM or pay any interest during the term of the loan. Setting aside the obvious benefit of a SM at the individual loan level (stripping off accrued/retained interest and allowing others to shoulder the capital maturity risk), I have managed to reduce my exposure at each of FS, L and COL in the months leading up to their demise.
Food for thought perhaps when assessing the appropriateness of platforms. Yes, I know the argument is that not everyone can benefit from a SM centric strategy as the supply of 'greater fools' is finite, but I tend to the view that people read this forum in part to gain an "edge".
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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 Oct 23, 2019 15:44:11 GMT
Twice my exposure on L, four times my exposure on COL ... but thankfully less than half of my exposure on FS of 12 months ago.
Co-incidentally (and before todays news was known) I have been asked today about my opinion on another p2p platform, one that as it happens doesn't have a SM or pay any interest during the term of the loan. Setting aside the obvious benefit of a SM at the individual loan level (stripping off accrued/retained interest and allowing others to shoulder the capital maturity risk), I have managed to reduce my exposure at each of FS, L and COL in the months leading up to their demise.
Food for thought perhaps when assessing the appropriateness of platforms. Yes, I know the argument is that not everyone can benefit from a SM centric strategy as the supply of 'greater fools' is finite, but I tend to the view that people read this forum in part to gain an "edge".
4 times COL , 5 Times Lendy took 23k out last month. If 50% recovery from them all would still be ok due to past profits. We will all be experts on P2P insolvency by the end of all this  . I feel for those for that require access to their funds more quickly than will be the case, I would imagine there will be a good few people in dire straits. Hopfully this will be the poster boy on how to wind up a company quickly. Promised Payments from Lendy may make for a sloghltly less crappy Christmas.
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rogedavi
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Post by rogedavi on Oct 23, 2019 15:55:58 GMT
Guess I'm one of the lucky ones. Managed down all my exposure to the junk P2P'ers. Just defaulted sticky loan in each one left which I never expect to recover anyway...
£0 Col
£20 Lendy
£11.03 FS
Now I'm just trying to re-evaluate if the better P2P companies are actually alright or just wearing the emperors new clothes.
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r1200gs
Member of DD Central
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Post by r1200gs on Oct 23, 2019 16:09:31 GMT
30k.
£25,000 is in the first charge of the council tower block which should complete within days with full capital and interest.
I feel sick.
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Post by df on Oct 23, 2019 16:21:10 GMT
Twice my exposure on L, four times my exposure on COL ... but thankfully less than half of my exposure on FS of 12 months ago.
Out of my current p2p investment: Col - 7% Ly - 2% FS - 4% A year ago: Col - 6% Ly - 3% FS - 7%
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pip
Posts: 542
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Post by pip on Oct 23, 2019 16:24:31 GMT
Twice my exposure on L, four times my exposure on COL ... but thankfully less than half of my exposure on FS of 12 months ago.
Out of my current p2p investment: Col - 7% Ly - 2% FS - 4% A year ago: Col - 6% Ly - 3% FS - 7% For the record I had £2,500 but had mentally fully written it off as a loss about 6-8 months ago. Feels a bit like when I was stupid enough to invest in Carillion, knew it was coming for a long time, knew I would never see that money again, still a bit galling to have it confirmed. Never know may get something out of Administration, but maybe that is tomorrow's poll question.
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sundown
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Post by sundown on Oct 23, 2019 16:47:27 GMT
A more meaningful [and potentially painful] poll would be “What % of your total assets [savings, investments, property, pension, cars etc] do you have exposed in FS?”
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Post by df on Oct 23, 2019 17:15:25 GMT
Out of my current p2p investment: Col - 7% Ly - 2% FS - 4% A year ago: Col - 6% Ly - 3% FS - 7% For the record I had £2,500 but had mentally fully written it off as a loss about 6-8 months ago. Feels a bit like when I was stupid enough to invest in Carillion, knew it was coming for a long time, knew I would never see that money again, still a bit galling to have it confirmed. Never know may get something out of Administration, but maybe that is tomorrow's poll question. Might get something back depending on what loans you're exposed to and Admin cost. Certain loans on FS will be a total loss, I'm sure. About 9-12 months ago I've stopped investing in property loans, but kept renew button green for pawn. Recently invested in "large collection of gold" loan - this one was partially (16%) repaid today. In the past 10 days or so I've sold a small proportion of pawn and was about to put more for sale... this was triggered by sudden disappearance of all loans listed in "Available investments". As it is stated, "The administrators are working closely with the FCA who consented to their appointment over the Companies." - gives me some hope that the process won't be as complicated as with Col.
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benaj
Member of DD Central
N/A
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Post by benaj on Oct 23, 2019 17:20:41 GMT
3 x Col exposure and 1.5 x Lendy
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cwah
Member of DD Central
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Post by cwah on Oct 23, 2019 18:20:16 GMT
Gonna cry... Everything I invest in bankrupt  |
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Post by mikeyb999 on Oct 23, 2019 18:53:02 GMT
Feel a bit stupid now - saw the writing on the wall at Lendy and managed to get 20K out leaving 4 left in.
FS - had 25K in but only managed to get that down to 21K
Still have a small amount in ablerate - not decided yet if its worth sticking with them
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tommo
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Post by tommo on Oct 23, 2019 18:58:02 GMT
3k + change. Small profit; the kind it's not worth writing home about.
Got most out a long time ago, but the rest has been stuck there for over 1yr with no progress.
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IFISAcava
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Post by IFISAcava on Oct 23, 2019 19:47:01 GMT
FS - x 0.1% of P2P
Lendy - 0.15% of P2P.
Collateral - 1.5% of P2P.
But I'd be screwed if Assetz, Proplend, HNWL or ABL went down - 10-20% of P2P in each, and 65% in the four combined. Would ideally get them down to max 10% each as platform risk proving to be a larger component of risk than I had previously estimated. But then that would mean increasing exposure elsewhere, begging the question where (all others 5% max currently)?
So it might be more of a "reduce overall P2P exposure as part of investment portfolio" rather than "reduce individual platform exposure as proportion of P2P".
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registerme
Member of DD Central
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Post by registerme on Oct 23, 2019 20:32:20 GMT
£0.
Never liked the smell of it so never put a penny on it.
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