garfield
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Post by garfield on Sept 23, 2020 10:49:54 GMT
Overnight there was a payout of £3.28 per £10K in each AA
Loan #930 has been redeemed, £219K Hi cb25, may I ask why you reference all the AAs for these distributions? My understanding is they are related to the amount(s) in the QAA only. I calculate £3.28 for the amount in my/our QAAs.
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cb25
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Post by cb25 on Sept 23, 2020 11:08:36 GMT
Overnight there was a payout of £3.28 per £10K in each AA
Loan #930 has been redeemed, £219K Hi cb25, may I ask why you reference all the AAs for these distributions? My understanding is they are related to the amount(s) in the QAA only. I calculate £3.28 for the amount in my/our QAAs.
Because you get a payout for each AA where there is withdrawal past its due date, so for example I got a payout on my Standard 90DAA where I have withdrawals that are months past their 90-day limit.
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garfield
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Post by garfield on Sept 23, 2020 12:26:53 GMT
Hi cb25, may I ask why you reference all the AAs for these distributions? My understanding is they are related to the amount(s) in the QAA only. I calculate £3.28 for the amount in my/our QAAs.
Because you get a payout for each AA where there is withdrawal past its due date, so for example I got a payout on my Standard 90DAA where I have withdrawals that are months past their 90-day limit. So it depends not only where your money is, but on its withdrawal status, whether you're withdrawing directly to cash or via the QAA, and if Bob really is the name of your Uncle?
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cb25
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Post by cb25 on Sept 24, 2020 7:19:20 GMT
Overnight there was a payout of £20.04 per £10K in each AA
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blender
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Post by blender on Sept 24, 2020 8:50:19 GMT
Overnight there was a payout of £20.04 per £10K in each AA That's a bit more like it. The perceived value of the account depends to some extent on a decent stream of withdrawals being maintained. Yes, I know the percentage of repayments hasn't changed but that's not of any interest - it's withdrawals that matter. If we can withdraw our cash at a reasonable rate then we will be happy to leave our capital in and the discount rate will go down to a risk-based figure. We are further away from that point than we were a week after the SM went live.
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cb25
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Post by cb25 on Sept 24, 2020 8:58:07 GMT
Overnight there was a payout of £20.04 per £10K in each AA That's a bit more like it. The perceived value of the account depends to some extent on a decent stream of withdrawals being maintained. Yes, I know the percentage of repayments hasn't changed but that's not of any interest - it's withdrawals that matter. If we can withdraw our cash at a reasonable rate then we will be happy to leave our capital in and the discount rate will go down to a risk-based figure. We are further away from that point than we were a week after the SM went live. I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again. (Edit: alender pointed this out months ago)
I have no idea what the risk-based discount should be though.
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upperdeane
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Post by upperdeane on Sept 24, 2020 9:10:26 GMT
That's a bit more like it. The perceived value of the account depends to some extent on a decent stream of withdrawals being maintained. Yes, I know the percentage of repayments hasn't changed but that's not of any interest - it's withdrawals that matter. If we can withdraw our cash at a reasonable rate then we will be happy to leave our capital in and the discount rate will go down to a risk-based figure. We are further away from that point than we were a week after the SM went live. I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again.
I have no idea what the risk-based discount should be though.
" I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again." +1
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ian
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Post by ian on Sept 24, 2020 9:22:17 GMT
I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again.
I have no idea what the risk-based discount should be though.
" I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again." +1 The SM is an absolute sham it has created little or no liquidity. AC as organisation made great play of investors “Gaming the Market” - that’s exactly what you’ve created ! There is absolutely no reward for loyalty or being a larger investor.
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alender
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Post by alender on Sept 24, 2020 9:58:07 GMT
Unfortunately for reasons I stated earlier as a result of the SM the AA repayments have now become constipated.
Stuart I believe said that the SM has very little effect on the money coming into the accounts but after being asked will not give us the data, the amount of money added to AAs, the amount of money used for loan tranches financed since the lock down and future loan tranche commitments would be useful so we can make up our own mind. While it is good that Stuart engages with us on this forum I would prefer Facts Not Opinions (as it says above the door).
Also I would like to know why the potion of cash in the AAs is so high, if the answer is to restart lending then in IMO this does not seem the right as it extends the AA lock in period and if this happens is it AC intention to keep the AA investors lockedin in perpetuity. If so these accounts should be renamed to something AKA P2PPIBs. If some of this cash was paid out to the AA holders the interest rate on the AAs could be increased (less money in the accounts but same interest being paid by borrowers) which should reduce the discounts on the SM.
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ian
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Post by ian on Sept 24, 2020 12:24:44 GMT
Where is the best place to get the amount invested in each of the AAs and what level of cash is in there
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blender
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Post by blender on Sept 24, 2020 13:11:46 GMT
That's a bit more like it. The perceived value of the account depends to some extent on a decent stream of withdrawals being maintained. Yes, I know the percentage of repayments hasn't changed but that's not of any interest - it's withdrawals that matter. If we can withdraw our cash at a reasonable rate then we will be happy to leave our capital in and the discount rate will go down to a risk-based figure. We are further away from that point than we were a week after the SM went live. I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again. (Edit: alender pointed this out months ago)
I have no idea what the risk-based discount should be though.
I have no problem with that. The more that's withdrawn, the more that will be recycled as trading and the faster the discount will go down. Imo, the level of a risk-based discount is a matter of individual opinion which is found by the market. It is reached individually when you decide that the discount is too low to tie your cash up with making offers to buy, or use the cash elsewhere, and you decide not to withdraw any more until you need to.
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Steerpike
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Post by Steerpike on Sept 24, 2020 15:10:01 GMT
I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again.
I have no idea what the risk-based discount should be though.
" I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again." +1 I have only a couple of £k in QAA and so I haven't taken too much notice of the detail, but if you keep reinvesting aren't you buying more and more of the defaulted loans?
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upperdeane
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Post by upperdeane on Sept 24, 2020 16:19:07 GMT
" I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again." +1 I have only a couple of £k in QAA and so I haven't taken too much notice of the detail, but if you keep reinvesting aren't you buying more and more of the defaulted loans? Yes, but you are buying the good loans also. For me it is simple - i think things will normalise as some point in the near future (maybe next year) then buying at these discount levels seems worthwhile to me. Even if I cash out at the same level of discount in 6 months time, ill get 6 months interest plus the extra distribution withdrawals paid out every few days as my loan holdings are higher than if didn't re-invest anything. Of course if AC goes belly up, or lots of loans get ringfenced as unable to be sold, then i will be wrong. As with all P2P lending, I see it as a investment (gamble) i'm prepared to take at these discount levels.
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sl75
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Post by sl75 on Sept 24, 2020 17:55:43 GMT
" I re-invested my payouts at 8.1% discount. Odd consequence of the SM that the best way to stay invested is to put one's money on withdrawal, get the payout, re-invest at discount, put the money on withdrawal again." +1 I have only a couple of £k in QAA and so I haven't taken too much notice of the detail, but if you keep reinvesting aren't you buying more and more of the defaulted loans? Assuming that AC are operating the accounts in the way they've said they are:
When investing in the Access Accounts, you're only buying loans where any expected losses are already 100% covered by ringfenced funds in the provision fund.
The potential losses are from losses in excess of this expected level, or which deteriorate (and are unable to be covered by the PF) *after* you bought them.
Similarly, the potential future liquidity issues (i.e. loans which cannot be liquidated on the market at all or at any discount) are from loans which would require more funds to be ringfenced than are immediately available.
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dead-money
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Post by dead-money on Sept 28, 2020 14:44:40 GMT
Loan #745 has been redeemed, £235K
Loan #1055 has repaid £226K
#745 has paid out to MLA holders.
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