ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
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Post by ozboy on Mar 5, 2020 14:59:43 GMT
The really, really BIG problem is the FCA, and their disinterest in, and refusal to clean up the sector.
They're only tinkering, and because they are commercial sector rejects they don't have a clue what they're doing, let alone what so obviously needs to be done.
The FCA could make VERY robust changes and easily jail a few people, and P2P would be FAR cleaner and "investible" virtually overnight.
But the FCA chooses to do FA.
Go figure.
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Post by Ace on Mar 5, 2020 15:04:37 GMT
At least you didn't lose your capital unlike some of the poor folk on funding circle. 99.5% of FC lenders with more than 2k invested have positive returns. The 1.5% club over on the FC forum are a vocal minority. The majority are not claiming to have made losses, just that the returns haven't been worth the risk.
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shimself
Member of DD Central
Posts: 2,563
Likes: 1,171
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Post by shimself on Mar 5, 2020 15:28:41 GMT
The really, really BIG problem is the FCA, and their disinterest in, and refusal to clean up the sector. They're only tinkering, and because they are commercial sector rejects they don't have a clue what they're doing, let alone what so obviously needs to be done. The FCA could make VERY robust changes and easily jail a few people, and P2P would be FAR cleaner and "investible" virtually overnight. But the FCA chooses to do FA. Go figure. Now THAT starts to make sense. Perhaps the folks at the FCA don't want their city pals to suffer, so they actually try to subvert the upstarts
(I don't actually believe this, I hope)
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Mar 5, 2020 15:50:42 GMT
"The City" is a very "interesting" place.  I worked there for five years and the vast majority of people (outside "The City") do not have a single clue what actually goes on there. Let's just say I have absolutely no scales on my eyes and only crystal clear glasses. NOTHING surprises me about "The City", including those bodies who are supposed to "protect" us. |
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Post by df on Mar 5, 2020 18:29:13 GMT
At least you didn't lose your capital unlike some of the poor folk on funding circle. 99.5% of FC lenders with more than 2k invested have positive returns. The 1.5% club over on the FC forum are a vocal minority. Very much depends on the length and pattern of investment. I've started with FC in Oct 2016, if I've decided to sell off at the end of 2017 I would've made around 9% (after selling fees and a couple of defaults). I didn't and carried on actively investing until early 2019 - my historical return is 2% (about 0.6% per annum). I guess that's positive, at least my capital was preserved 
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