agent69
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Post by agent69 on Dec 5, 2019 13:08:39 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. I've been slowly exiting for a while, but tend to squander my returns on exotic holidays and loose women.
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Post by waryinvestor on Dec 5, 2019 13:16:49 GMT
For those who haven’t been around so long in P2P, it’s worth remembering that Wellesley & Co was once considered to be in this category of low risk P2P lenders. All loans secured on property, Wellesley taking a first stake in each loan that we were told would be used to cushion investor losses, and a provision fund in place, with near instant sales possible on a secondary market. What happened? The secondary market was closed, no details are available regarding any first losses taken by Wellesley, the provision fund evaporated, and investors have been left with mounting losses and no way to exit the market. Most recently, Wellesley’s replacement method of accessing funds to refinance P2P investments (which they no longer offer), via mini bonds, may have been closed through new FCA rules (a ban on the marketing of mini bonds to retail investors, effective 1 January 2020). Yes, Wellesley is one of the biggest disasters, but somehow escapes the radar. They simply wrote off parts of Capital and repeated the same a year or so later. I have quite a lor stuck there and no idea of what we can actually do.
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iren
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Post by iren on Dec 5, 2019 13:34:58 GMT
One of the worst aspects of the Wellesley fiasco is that our P2P investments are structured as blocks of funds with a fixed term, with the underlying funds apportioned between P2P loans. In spite of the removal of the secondary market and Wellesley’s withdrawal from new P2P business (meaning that they no longer engage with the FCA to seek full authorisation), instead of returning funds to investors as loans are repaid, they continue to lend them out over and over and to incur further losses. In addition to being bad behaviour by Wellesley, this is another appalling regulatory failure by the FCA.
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macq
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Post by macq on Dec 5, 2019 13:48:10 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. I've been slowly exiting for a while, but tend to squander my returns on exotic holidays and loose women. that's not squandering
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m2btj
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Post by m2btj on Dec 5, 2019 13:52:22 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. I've been slowly exiting for a while, but tend to squander my returns on exotic holidays and loose women. Now that's what I call a return....I suppose dividends would be out of the question!
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IFISAcava
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Post by IFISAcava on Dec 5, 2019 14:11:32 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. I've been slowly exiting for a while, but tend to squander my returns on exotic holidays and loose women. Where did it all go wrong?
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aju
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Post by aju on Dec 5, 2019 14:15:35 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. I've been slowly exiting for a while, but tend to squander my returns on exotic holidays and loose women. I sort of agree with your sentiments except that last thing I'd refer to Mrs aju is loose but none the less squander is a term that I can relate to!.
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Post by WestonKevTMP on Dec 5, 2019 15:10:25 GMT
I'm a dividend lover, combined with a more segmented preference for the energy sector. Of course on the day of ex-Div the share price drops by the dividend amount. But the prospective yield increases accordingly. So all else being equal by that time next year if the yield remains constant the share price will grow to the previous level. So the share price will remain flat, but you have the dividend. There are a multitude of studies that typically compare non-divi growth stocks against dividend payers (and of course there are combinations), but typically companies that pay a steady stream of dividends out perform as long as the cash is reinvested. Tax implications aside (I use ISAs), dividends also keep a company honest and imply true cash profitability. I also enjoy recieving them and choosing where to reinvest thereby naturally recalibration of portfolio with reduced dealing costs. Kevin.
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upperdeane
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Post by upperdeane on Dec 5, 2019 18:58:27 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. Unbolted will help you there if you wish exposure to secured loans on high end watches or gold and wish to remain in P2P.
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Post by gravitykillz on Dec 5, 2019 19:06:02 GMT
Maybe time to slowly exit p2p and invest in gold bars and some rolex watches. Unbolted will help you there if you wish exposure to secured loans on high end watches or gold and wish to remain in P2P. Funding secure was doing something similar to unbolted. I prefer having the actual physical product rather than investing via third parties.
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Post by gravitykillz on Dec 5, 2019 19:11:38 GMT
To say funding secure was badly run and managed was an understatement. When I read about some of their loans it was farcical.
In some cases clients were given loans against high value items without funding secure even taking the items from the client. In other cases the valuations were ridiculous and even the director's were giving themselves loans.
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iren
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Post by iren on Dec 5, 2019 19:37:59 GMT
Unbolted will help you there if you wish exposure to secured loans on high end watches or gold and wish to remain in P2P. Funding secure was doing something similar to unbolted. I prefer having the actual physical product rather than investing via third parties. So was Collateral. We've received hints that there the valuations were inflated, and have received not a penny back nearly two years since the firm collapsed.
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upperdeane
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Post by upperdeane on Dec 5, 2019 20:53:45 GMT
Funding secure was doing something similar to unbolted. I prefer having the actual physical product rather than investing via third parties. So was Collateral. We've received hints that there the valuations were inflated, and have received not a penny back nearly two years since the firm collapsed. I didn't use COL. Did they hold the physical watch or gold asset in their possession like Unbolted do?
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iren
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Post by iren on Dec 6, 2019 0:00:32 GMT
So was Collateral. We've received hints that there the valuations were inflated, and have received not a penny back nearly two years since the firm collapsed. I didn't use COL. Did they hold the physical watch or gold asset in their possession like Unbolted do? They were supposed to, but I recall that at least some of it was not actually there and the administrators were seeking to recover it. Not sure where the story ended up, except that it's resulted in nothing for investors to this point.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 6, 2019 13:12:18 GMT
Yes, at the time of the dividend, but I used the word generally to mean that investors will value a share with a steady dividend more so its price will be higher. Not some though, BT is a case in point their divi is/was/is/was good but it's not really improving the share price - not that I'm that bothered as its a good income year on year - unless Mr McD get his way perhaps ... The last 2 divi years have been steadily the same (almost). Not increasing but is their share price higher than it would have been if their dividends were lower or erratic?
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