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Post by scepticalinvestor on Apr 5, 2020 9:04:23 GMT
Why remove the transparency? What are they hiding? Well I find it rather odd that as soon as people on here start discussing/logging access account balances and trying to do calculations to determine where their money is going the shutters come down in order to prevent that from happening. I doubt that even the fantasy brigade on here could come up with any valid justification for this. They have shown the full account balances for at least the last 4 years.
Definitely a step backward by AC. I don't envy the task they have on their hands but it seems like they are determined to chip away at the residual confidence that investors have in them, especially the ones with large amounts invested who have been the backbone of the growth that AC has seen and are now being repaid in dribs and drabs, entirely unfair. Stuart has indicated that change in imminent on this front, let's hope it's in the right direction.
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alender
Member of DD Central
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Post by alender on Apr 5, 2020 9:08:48 GMT
Over on the beta site, the balances aren't shown at all... so I guess the loss of displayed precision is just trying to break us in gently for taking the figures away completely when the redesigned site eventually comes out of beta? Think they didn't take too kindly to our tracking the total balance accounts thread. It is a shame, but maybe it will be replaced by something else in the future builds. As of right now, I can't see it moving alot. I think AC will be trying to keep it fairly stagnant, only advancing it with new desposits to be paid out to those in the pool. I don't agree with its removal, but I also not entirely that fussed. Seemed to conjour alot of mis-information about how much cash was really free or how much was in rentention and so so. Think AC didn't like the misinformation/speculation on the board. If AC do not like the so called misinformation/speculation on the board then they should give us the figures, what some people seem to forget is this is our money and especially in these times this information is important, if it is good then confidence will increase, if not we have the right to know, being told to just trust AC is not good enough.
The size a lender needs to be to worse off under the pool system of payments was given by AC as 85k, they did not give any figures to back this up, I stated it is around 23k based on calculation from my loan book and the repayments of two loans. I may be right AC may be right or it could be a entirely different figure, mine is backed up with the limited set figures that AC provided after all what else do I have to calculate this.
AC have all the figures but refuse to give them to us treating lenders with contempt, some will say they are too busy, however not to busy to keep changing T&Cs with the weather, make videos, change websites to hide figures previously supplied, add fees and to look for new business streams as quoted on this board.
Some people say AC will be fine when normal market condition return, that is of course if they survive. Under normal market conditions I think they will find they have some serious questions to answer once the legal system is fully functioning with courts open and the FCA are processing complaints.
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mrsb
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Post by mrsb on Apr 5, 2020 11:21:02 GMT
If AC survive this, and NMC's return - all the unhappy people will check-out and peace will be restored.
I think AC have done a wonderful job, and I'm sure full liquidity will return. I - and many others - will simply adjust their %age wealth exposed to AC.
In the aftermath, savings rates will be nil - so as Stuart's cheesey video alludes to - people will have to put their money somewhere.
Trouble is gonna be volatility, one case of pyrexia and liquidity will vanish again!
In the mean time, and I'm encouraged by people saying that losing a bit of interest is neither here nor there - I say again that I think that queued withdrawals should earn 0%
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mrsb
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Post by mrsb on Apr 5, 2020 11:47:15 GMT
Keep guessing! Like monkeys with typewriters - you’ll be right eventually.
but to save you getting sore fingers. I have no connection with AC - other than being up to my Bollocks in QAA.
I don’t think you come across as a sensible person (I’ve seen some of your other posts). I’d never suggest you be quiet, particularly with the lack of amusement elsewhere just now.
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Post by Harland Kearney on Apr 5, 2020 11:48:08 GMT
If AC survive this, and NMC's return - all the unhappy people will check-out and peace will be restored. I think AC have done a wonderful job, and I'm sure full liquidity will return. I - and many others - will simply adjust their %age wealth exposed to AC. In the aftermath, savings rates will be nil - so as Stuart's cheesey video alludes to - people will have to put their money somewhere. Trouble is gonna be volatility, one case of pyrexia and liquidity will vanish again! In the mean time, and I'm encouraged by people saying that losing a bit of interest is neither here nor there - I say again that I think that queued withdrawals should earn 0% I agre with all the post, but queued withdrawals as long as they are investments should still earn. That only make matters far worse for no reason. Bare in mind not all in the queue are heading for the exit, many were caught up in the QAA swept or people trying to move from the QAA direct to the 90 DAA in the current circumstances.
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r00lish67
Member of DD Central
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Post by r00lish67 on Apr 5, 2020 11:52:23 GMT
Keep guessing! Like monkeys with typewriters - you’ll be right eventually. but to save you getting sore fingers. I have no connection with AC - other than being up to my Bollocks in QAA. I don’t think you come across as a sensible person (I’ve seen some of your other posts). I’d never suggest you be quiet, particularly with the lack of amusement elsewhere just now. Ah, I was wondering what the 'b' stood for!
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mrsb
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Post by mrsb on Apr 5, 2020 11:53:05 GMT
Harland. I take your point about withdrawals headed for 90/30 etc.
But headed for cash means that investor no longer investing- therefore 0%.
perhaps a direct pipe to the 30/90 would have a sufficient unblocking effect. Hopefully AC will provide the means for this to be tested ...
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Post by jasonnewman on Apr 5, 2020 11:53:38 GMT
Keep guessing! Like monkeys with typewriters - you’ll be right eventually. but to save you getting sore fingers. I have no connection with AC - other than being up to my Bollocks in QAA. I don’t think you come across as a sensible person (I’ve seen some of your other posts). I’d never suggest you be quiet, particularly with the lack of amusement elsewhere just now. " I say again that I think that queued withdrawals should earn 0%" One of the most stupidest things you can say - where would the accrued interest from borrowers go? Should it go to AC in fees? or fill your pocket coz you don't need to withdraw your cash and are supposedly 'loyal' Maybe you should think about what you are saying before typing.
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mrsb
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Post by mrsb on Apr 5, 2020 11:53:57 GMT
Keep guessing! Like monkeys with typewriters - you’ll be right eventually. but to save you getting sore fingers. I have no connection with AC - other than being up to my Bollocks in QAA. I don’t think you come across as a sensible person (I’ve seen some of your other posts). I’d never suggest you be quiet, particularly with the lack of amusement elsewhere just now. Ah, I was wondering what the 'b' stood for! B-littleing?!
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Post by Harland Kearney on Apr 5, 2020 11:56:19 GMT
Yeah, cash does earn zero on AC as it is not a bank and so cant' generate that. Swept QAA no longer exists ofc too.
I have some funds in the queue pool (some going for 90 daa some going for other investments outside AC), whilst they are holding onto risk I want to earn the target rate.
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Post by jasonnewman on Apr 5, 2020 11:57:29 GMT
At the moment this platform feels like Ponzi capital, someone needs to put cash in to get your cash out.
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alender
Member of DD Central
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Post by alender on Apr 5, 2020 11:59:18 GMT
If AC survive this, and NMC's return - all the unhappy people will check-out and peace will be restored. I think AC have done a wonderful job, and I'm sure full liquidity will return. I - and many others - will simply adjust their %age wealth exposed to AC. In the aftermath, savings rates will be nil - so as Stuart's cheesey video alludes to - people will have to put their money somewhere. Trouble is gonna be volatility, one case of pyrexia and liquidity will vanish again! In the mean time, and I'm encouraged by people saying that losing a bit of interest is neither here nor there - I say again that I think that queued withdrawals should earn 0% There is no guarantee if AC survive they will unlock (or even be able to) the AA accounts and larger investors will be stuck with non performing loans, also that interest rates on these accounts will not be reduced and perhaps Stuart is trying to soften us up to accept zero or near to zero on investments that are locked, I say accept but of course we have no choice.
Given AC contempt for it's current larger investors AC know these will go (if they can get out) so it is no surprise they are looking at alternate business areas. The new investors (including the government) will be in a brand new product and the current investors left in will take huge loses. I notice AC say (Series 1) on all AA accounts, are AC thinking of Series 2 accounts.
Saving rates may be nil and P2P will struggle as the banks will loan money backed by the government at very low rates to the best borrowers, only the high risk borrowers will be left for P2P. Dividends in some equities will be kept and in others they will return, you will be able to effectively buy in at below assets values on a number of well run companies and investment trusts where P2P you will be very lucky even in new loans that the value of the loan will have an NPV close to what you invested. If inflation rises due to the huge rise in money supply equities with tangle assets will be even more attractive.
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Post by Harland Kearney on Apr 5, 2020 12:00:23 GMT
At the moment this platform feels like Ponzi capital, someone needs to put cash in to get your cash out. Can you like stop posting? Yes, in order to sell something, you need a buyer. That can be another investors or the underlying holding repaying itself? Well done! 
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Post by jasonnewman on Apr 5, 2020 12:02:01 GMT
At the moment this platform feels like Ponzi capital, someone needs to put cash in to get your cash out. Can you like stop posting? Yes, in order to sell something, you need a buyer. That can be another investors or the underlying holding repaying itself? Well done! You should take your own advice, you keep saying your not going to post but keep coming back. The gift that keeps on giving....
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Post by Harland Kearney on Apr 5, 2020 12:06:57 GMT
Can you like stop posting? Yes, in order to sell something, you need a buyer. That can be another investors or the underlying holding repaying itself? Well done! You should take your own advice, you keep saying your not going to post but keep coming back. The gift that keeps on giving.... Yes I really should, the crying brigade will only get louder from here on out on this board. Its really unreal, it wasn't like this even 21 days ago; suddenly users like yourself came out of the wood works to cry on every thread. You made a bad investment (we all did if it turns out the way you flapping your hands around on this board), suck it up and move on; or contribute to the discussion correctly (which means not making extreme accusations like Ponzi). Lets hope at the very least you didnt' invest anymore than 10% by your logic. If you did you just make youself look silly and stupid for over investing into a product that clearly caught you out, a Ponzi if you will. As well as ignoring FCA guidelines. What discussion at this point. Bravo
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