tjtl
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Post by tjtl on Jul 29, 2020 7:20:21 GMT
I find it fascinating that after several weeks of debate there still seems to be a split amongst most posters.
On the one hand are those that believe RS are fundamentally bad: “they are playing with our money’, “they have given up” “they are deliberately misleading’ are some of the kinder comments.
On the other are those that say they are facing a near impossible set of unpredictable circumstances, and all things considered so far aren’t making too bad a fist of it.
And I know which camp I fall in to.
Most of us on this board have made mistakes in our lending- for me it obvious- I had a high six figure sum spread over a number of platforms. What has surprised me is that, with the ignoble exemption of FundingCircle most of the platforms I have stuck cash on have behaved pretty well (Assetz, Relendex, even Wellesley, and particularly RateSetter). I know there will be some pain to come, and all the platforms have made some errors (that are only clear in hindsight), but all over I tip-my-hat to at least the management teams in Assetz and Ratesetter for blooming persevering in what must have been excessively stressful circumstances. Preserving the operation of the platforms is key to preserving capital.
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wapping35
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Post by wapping35 on Jul 29, 2020 8:52:03 GMT
Whilst entertaining to read, I am not sure there is much value in all the often heated debate.
At the end of this week RS are due to update the PF figures and confirm any changes (or not) to the interest rate hair cut. That for me is what I am looking at.
But do keep up the debating.
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chris1200
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Post by chris1200 on Jul 29, 2020 9:03:48 GMT
Whilst entertaining to read, I am not sure there is much value in all the often heated debate. At the end of this week RS are due to update the PF figures and confirm any changes (or not) to the interest rate hair cut. That for me is what I am looking at. But do keep up the debating. I actually agree; but, from my perspective at least (especially so long as I still have funds in RS), I don't like the idea of people posting mistaken/misleading/inaccurate etc. stuff on here about RS without challenge. Especially when there are so many new users on here, and no doubt many other lurkers not registering who've stumbled upon these parts since things went south. It's often so self-defeating for those of us trying to get our money out.
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chris1200
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Post by chris1200 on Jul 29, 2020 12:18:33 GMT
£230k appeared on new markets so assume this is todays or part of todays RYI Or its a decent size loan that I would normally expect to see on the 1 year Do you mean the c. £230k of 'Borrower' money on the market data screen for A/P/M, split across 13 orders? If so, see my post here and the subsequent discussion. This happens every day, and I'm still not sure whether I think it's RYI processing or not. This one is split across 13 orders, though, so I think my previous post (a single order of c. £140k) was probably better evidence that this could(!) be RYI money. [Edit: it's now 10 orders, so slightly better evidence ]
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robski
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Post by robski on Jul 29, 2020 12:43:36 GMT
£230k appeared on new markets so assume this is todays or part of todays RYI Or its a decent size loan that I would normally expect to see on the 1 year Do you mean the c. £230k of 'Borrower' money on the market data screen for A/P/M, split across 13 orders? If so, see my post here and the subsequent discussion. This happens every day, and I'm still not sure whether I think it's RYI processing or not. This one is split across 13 orders, though, so I think my previous post (a single order of c. £140k) was probably better evidence that this could(!) be RYI money. [Edit: it's now 10 orders, so slightly better evidence ] Yep thats it. I always treat number of orders as a bugged number, we have seen before hundreds of orders for £1 and other silly stuff I thought I would try to keep a more active look at the queue today Edit, i Am changing my mind, I dont think thats RYIs 5 year available is dropping with no listed borrower requests, steadily so I assume its some processing of RYI in 5 year, £100k went within 15 mins or so
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chris1200
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Post by chris1200 on Jul 29, 2020 12:47:28 GMT
Yep thats it. I always treat number of orders as a bugged number, we have seen before hundreds of orders for £1 and other silly stuff I thought I would try to keep a more active look at the queue today Oh is that so? Interesting... It would be a lot easier to work this out if we had those per-market breakdowns (in fact, we wouldn't even need to work it out then!) - so please do join me in requesting them of RS if you haven't already. Edit re your Edit: Yes, this is definitely an argument against...
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robski
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Post by robski on Jul 29, 2020 12:56:26 GMT
Yep thats it. I always treat number of orders as a bugged number, we have seen before hundreds of orders for £1 and other silly stuff I thought I would try to keep a more active look at the queue today Oh is that so? Interesting... It would be a lot easier to work this out if we had those per-market breakdowns (in fact, we wouldn't even need to work it out then!) - so please do join me in requesting them of RS if you haven't already. Edit re your Edit: Yes, this is definitely an argument against... Just spent 10 mins refreshing and checking Anotehr £35k gone, no borrowers, and its constantly ticking down (or ticking up you could argue) against the investor funds Exactly the same behaviour you would see when a large borrower loan is matching, just there is no borrower. If RYIs are manual as RS have said then this would appear to be evidence they do not show as borrower requests
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robski
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Post by robski on Jul 29, 2020 13:03:45 GMT
INteresting the 5 year stopped the new markets suddenly matched about £220k then 5 year started again... Could be RS are displaying borrower on 5 year at all but its still there
Or someone is doing a matching "batch"
Of course 5 year and new markets may display differently
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robski
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Post by robski on Jul 29, 2020 13:30:53 GMT
Seems to have stopped now
5 year matched up to 5.9% I think around 200+K (i didnt remember exactly the number upto 6% which was what i thought they were doing)
The timing also matches quite well with when many report RYI funds coming, early/mid aftrenoon
So I expect we will see a RS number of something like 0.4M today. I cannto see 1 year though so if there ws a lot on there as well I could be well out
However I think if you take the morning 6% number from 5 year (after processing clearly complete). Wait till it drops significantly mid afternoon and calculate the diff you will have a pretty good estimate of 5 year RYI funds for the day.
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chris1200
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Post by chris1200 on Jul 29, 2020 13:35:18 GMT
So I expect we will see a RS number of something like 0.4M today. I cannto see 1 year though so if there ws a lot on there as well I could be well out However I think if you take the morning 6% number from 5 year (after processing clearly complete). Wait till it drops significantly mid afternoon and calculate the diff you will have a pretty good estimate of 5 year RYI funds for the day. Oh this is a very nice point. If you have the time and inclination, it would be wonderful if you could keep up these sorts of checks of what's going on in the 5 Year market for a few days, so you can estimate for us roughly how much is matched per day and then see how much of the daily RYI delivery figures this accounts for when RS tell us this. Obviously I would do it myself, but I no longer have access.
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robski
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Post by robski on Jul 29, 2020 13:53:51 GMT
So I expect we will see a RS number of something like 0.4M today. I cannto see 1 year though so if there ws a lot on there as well I could be well out However I think if you take the morning 6% number from 5 year (after processing clearly complete). Wait till it drops significantly mid afternoon and calculate the diff you will have a pretty good estimate of 5 year RYI funds for the day. Oh this is a very nice point. If you have the time and inclination, it would be wonderful if you could keep up these sorts of checks of what's going on in the 5 Year market for a few days, so you can estimate for us roughly how much is matched per day and then see how much of the daily RYI delivery figures this accounts for when RS tell us this. Obviously I would do it myself, but I no longer have access. Yeah I am tempted to do this cant hurt for a few days Actually after I posted another 30k or so matched at 5.9% to almost completely use that up. I am tempted to think this is pretty much what RS will do, match up to 5.9% funds roughly
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song
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Post by song on Jul 29, 2020 14:42:41 GMT
Whilst entertaining to read, I am not sure there is much value in all the often heated debate. At the end of this week RS are due to update the PF figures and confirm any changes (or not) to the interest rate hair cut. That for me is what I am looking at. But do keep up the debating. It's often so self-defeating for those of us trying to get our money out. Exactly what is self-defeating your either going to get your money back in time or the whole thing goes bad all statistics in the world will not change that so one can only assume that you are short of something more interesting to do.
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chris1200
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Post by chris1200 on Jul 29, 2020 14:52:05 GMT
Exactly what is self-defeating your either going to get your money back in time or the whole thing goes bad all statistics in the world will not change that so one can only assume that you are short of something more interesting to do. You're aware of how RYI processing is funded, yes? You're aware that what's caused the liquidity problem (and hence the queue) to begin with is negative sentiment, yes? Besides, I said nothing about statistics. I specified 'mistaken/misleading/inaccurate' information - which you conveniently deleted from your quote of my post. (And, as usual, I'll ignore the ad hominem - there's really no need for it, and this is what makes debates on here grim)
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song
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Post by song on Jul 29, 2020 15:04:38 GMT
Exactly what is self-defeating your either going to get your money back in time or the whole thing goes bad all statistics in the world will not change that so one can only assume that you are short of something more interesting to do. You're aware of how RYI processing is funded, yes? You're aware that what's caused the liquidity problem (and hence the queue) to begin with is negative sentiment, yes? Exactly thats all anybody needs to know, very simple really.
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chris1200
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Post by chris1200 on Jul 29, 2020 15:17:32 GMT
You're aware of how RYI processing is funded, yes? You're aware that what's caused the liquidity problem (and hence the queue) to begin with is negative sentiment, yes? Exactly thats all anybody needs to know, very simple really. Sorry? I'm not sure what you're trying to say here, but you appear to have made your first posts since April merely to start a fight about... fights. So that's great.
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