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Post by gravitykillz on Apr 5, 2020 8:14:31 GMT
Not sure I am allowed to mention a P2P blog site on a gravitykillz thread  but The Obvious Investor describes the latest details of his own P2P portfolio, so a second opinion to the views discussed here. In summary: Still confidently invested in - ABL, CP, Kuflink, LP, UB & uOwn Successfully exited (he was quick off the mark) - LC, LW, OC, RS Trapped and not happy with recent platform policies - AC, FC, GS (same gripes as on their respective threads here) So broad agreement with what we have been saying. Also has the euro sites but I don't follow those. Had a look at his website. Interesting perspective and views. But not any new information that was not already covered in this forum. Strange how everyone used to say diversification is important and now we have various p2p platforms slowing withdrawals all in one go.
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starfished
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Post by starfished on Apr 5, 2020 9:32:11 GMT
Specific risks can be reduced by diversification.
Systemic risks cannot.
At the inception of P2P, it was a loan you were tied into for the term with no secondary market which you hoped the individual paid you back and the agent (the platform) did not defraud you from. Despite their various smoke and mirrors and growth in the market, P2P still fits that description...
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ceejay
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Post by ceejay on Apr 5, 2020 9:33:39 GMT
... Strange how everyone used to say diversification is important and now we have various p2p platforms slowing withdrawals all in one go. Why strange? Diversification was only ever protection against problems specific to a particular platform, such as COL. The sector has always been prone to systemic risk which would affect all of them together, which is why it was never a good idea to put too much of ones pot into P2P. edit: crossed with starfished
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Post by nooneere on Apr 5, 2020 18:41:54 GMT
I agree with all the above comments about diversification. I have had increasing doubts about the diversification paradigm since starting with P2P in 2017. The more platforms you invest in, the greater your chances of taking a hit. I have been pulling out of platforms faster than investing in new ones - out of FO, out of GS, both moves justified by subsequent events. Withdrawing as loans repay in FC, enough said. Initiated an account with AC only in Jan (when it was still the darling of this forum) as a trial run to opening an IFISA in the new tax year - which I will not now be doing. By now 79% of my P2P portfolio is in Loanpad, in truth the only platform I can't fault (yet). Still making money with UB, but even with them there is the minor irritation of the court case, and it's hard to put big sums in.
The reason I have been interested in this thread is for evidence on the most robust platforms, something that will inevitably be revealed by the current crisis.
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Nomad
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Post by Nomad on Apr 19, 2020 16:24:54 GMT
CapitalRise seems to be sailing serenely through the storm in its majestic manner. They filled a new loan in Chelsea very quickly, and another in Oxford is 71% subscribed. Three loans on their Resale Market have also just been snapped up - four remaining expire this June or October, so I will be gobsmacked if they are sold. I haven't invested in this platform yet but have been monitoring it because it seems to run so smoothly always. Feedback from anyone currently invested would be welcome as events unfold. New £1,000,000 loan (also in Chelsea) launched 9.30 a.m. today (Sunday) has already filled. 8% interest, 66% LTV.
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zlb
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Post by zlb on Apr 20, 2020 10:38:12 GMT
There was always a problem with diversification owing to so many platforms converging on the same type of security and lending purpose. As has been discussed elsewhere, in the end it came down to 'platform' reliability, including the personalities involved, transparency of who they were lending to and what for etc.. Isn't that partly what is being revealed here?
What's going to happen to the property market now? There were to be FTB major restrictions, on last reading.
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alanh
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Post by alanh on Apr 20, 2020 17:15:44 GMT
I agree with all the above comments about diversification. I have had increasing doubts about the diversification paradigm since starting with P2P in 2017. The more platforms you invest in, the greater your chances of taking a hit. I have been pulling out of platforms faster than investing in new ones - out of FO, out of GS, both moves justified by subsequent events. Withdrawing as loans repay in FC, enough said. Initiated an account with AC only in Jan (when it was still the darling of this forum) as a trial run to opening an IFISA in the new tax year - which I will not now be doing. By now 79% of my P2P portfolio is in Loanpad, in truth the only platform I can't fault (yet). Still making money with UB, but even with them there is the minor irritation of the court case, and it's hard to put big sums in. The reason I have been interested in this thread is for evidence on the most robust platforms, something that will inevitably be revealed by the current crisis. I wouldn't pay much attention to the ability of this forum to predict the robustness of platforms. Previous "darlings" have included Collateral and Lendy.
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Post by Badly Drawn Stickman on Apr 20, 2020 17:29:46 GMT
I agree with all the above comments about diversification. I have had increasing doubts about the diversification paradigm since starting with P2P in 2017. The more platforms you invest in, the greater your chances of taking a hit. I have been pulling out of platforms faster than investing in new ones - out of FO, out of GS, both moves justified by subsequent events. Withdrawing as loans repay in FC, enough said. Initiated an account with AC only in Jan (when it was still the darling of this forum) as a trial run to opening an IFISA in the new tax year - which I will not now be doing. By now 79% of my P2P portfolio is in Loanpad, in truth the only platform I can't fault (yet). Still making money with UB, but even with them there is the minor irritation of the court case, and it's hard to put big sums in. The reason I have been interested in this thread is for evidence on the most robust platforms, something that will inevitably be revealed by the current crisis. I wouldn't pay much attention to the ability of this forum to predict the robustness of platforms. Previous "darlings" have included Collateral and Lendy. Who were replaced with Moneything, truly the kiss of death.
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Post by nooneere on Apr 20, 2020 19:31:45 GMT
I wouldn't pay much attention to the ability of this forum to predict the robustness of platforms. Previous "darlings" have included Collateral and Lendy. Who were replaced with Moneything, truly the kiss of death. Understood, but I was thinking from the opposite direction. I only discovered this forum just before Collateral imploded, and since then the vast majority of posts on all threads have been negative. I use this forum more as an early warning system - the smallest glitches on any platform tend to be highlighted vociferously. Rarely have I seen any platform praised without qualification.
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Post by nooneere on Apr 28, 2020 20:54:48 GMT
From www.altfi.com/article/6504_surviving-coronavirus-will-bring-huge-confidence-to-p2p-asset-class-says-ratesetter-chief'RateSetter CEO Rhydian Lewis believes coronavirus could herald the emergence of “huge confidence” in alternative lending platforms, as long as the industry gets through the next few months. “Surviving this cycle of total economic turmoil will bring huge confidence to this asset class, I’m sure of that,” Lewis told listeners at Innovate Finance’s webinar Profit or Purpose in FinTech as part of UK Fintech Week 2020.' I know RS has critics on this forum, but it does seem to have performed relatively well in the crisis. It would help if the company started making a profit, but we can hope for them. Disclaimer: I currently do not have funds in RS due to the website colour scheme (really). |
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ceejay
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Post by ceejay on Apr 29, 2020 14:59:02 GMT
From www.altfi.com/article/6504_surviving-coronavirus-will-bring-huge-confidence-to-p2p-asset-class-says-ratesetter-chief'RateSetter CEO Rhydian Lewis believes coronavirus could herald the emergence of “huge confidence” in alternative lending platforms, as long as the industry gets through the next few months. “Surviving this cycle of total economic turmoil will bring huge confidence to this asset class, I’m sure of that,” Lewis told listeners at Innovate Finance’s webinar Profit or Purpose in FinTech as part of UK Fintech Week 2020.' I know RS has critics on this forum, but it does seem to have performed relatively well in the crisis. It would help if the company started making a profit, but we can hope for them. Disclaimer: I currently do not have funds in RS due to the website colour scheme (really). I've noticed a tendency for headline writers to use "will" when they mean "would". If you change that quote to say "would" then I would agree with it 100%. I'm a lot less confident that this will happen, though.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 29, 2020 15:49:02 GMT
From www.altfi.com/article/6504_surviving-coronavirus-will-bring-huge-confidence-to-p2p-asset-class-says-ratesetter-chief'RateSetter CEO Rhydian Lewis believes coronavirus could herald the emergence of “huge confidence” in alternative lending platforms, as long as the industry gets through the next few months. “Surviving this cycle of total economic turmoil will bring huge confidence to this asset class, I’m sure of that,” Lewis told listeners at Innovate Finance’s webinar Profit or Purpose in FinTech as part of UK Fintech Week 2020.' I know RS has critics on this forum, but it does seem to have performed relatively well in the crisis. It would help if the company started making a profit, but we can hope for them. Disclaimer: I currently do not have funds in RS due to the website colour scheme (really). I've noticed a tendency for headline writers to use "will" when they mean "would". If you change that quote to say "would" then I would agree with it 100%. I'm a lot less confident that this will happen, though. Personally Id change it to "should" or even "could"
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benaj
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Post by benaj on May 1, 2020 13:07:43 GMT
Since the lock down, these are the platforms unaffected by COVID-19 so far
"Almost" normal condition:
Ablrate
Lendinvest
Loanpad
Proplend
Relendex
Unbolted
Lending Crowd
Zopa
Other platforms paying out interest outside "normal" conditions
Growth Street - R/W
Funding Circle - Sec
Ratesetter - Sec
Note:
R - re-lend settings affected
W - withdrawal affected
Sec - secondary markets / release investment affected
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Post by Ace on May 1, 2020 14:25:07 GMT
Since the lock down, these are the platforms unaffected by COVID-19 so far "Almost" normal condition: Ablrate Lendinvest Loanpad Proplend Unbolted Lending Crowd Zopa Other platforms paying out interest outside "normal" conditions Growth Street - R/W Funding Circle - Sec Ratesetter - Sec Note: R - re-lend settings affected W - withdrawal affected Sec - secondary markets / release investment affected Perhaps I'm misunderstanding but: Zopa has been affected. No longer lending to D or E loans (and weren't to C for a while). Lending has been cut significantly, withdrawals via SM are taking much longer. Relending is also taking longer.
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Post by Badly Drawn Stickman on May 1, 2020 15:14:41 GMT
Since the lock down, these are the platforms unaffected by COVID-19 so far "Almost" normal condition: Ablrate Lendinvest Loanpad Proplend Unbolted Lending Crowd Zopa Other platforms paying out interest outside "normal" conditions Growth Street - R/W Funding Circle - Sec Ratesetter - Sec Note: R - re-lend settings affected W - withdrawal affected Sec - secondary markets / release investment affected Perhaps I'm misunderstanding but: Zopa has been affected. No longer lending to D or E loans (and weren't to C for a while). Lending has been cut significantly, withdrawals via SM are taking much longer. Relending is also taking longer. No idea about Zopa. Generally though how are we defining 'Almost'? Arguably the underlying status of Ablrate loans has altered negatively, whilst the platform functions as usual it is not really business as usual. Maybe a mid point category is needed.
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but The Obvious Investor describes the latest details of his own P2P portfolio, so a second opinion to the views discussed here. In summary:
