agent69
Member of DD Central
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Post by agent69 on Apr 3, 2020 14:15:13 GMT
If there are any investors on this board who have more than 250k invested who are in the *will leave in droves* I'd like to hear from them. Your speculating again, clearly there are people wishing to withdraw; but thats normal in this climate. Stocks down 30%, people sell for 30% less, AC you can't sell for 30% less (unless your a MLA which some have), thats the liquidty issue. It isn't solely that everybody is running; its just a handful of investors want out knowing the risk level has risen OR over exposed themselves. (Just like you can in shares and leads to panic selling) How do you know that?
If the numbers were small you would imagine that they would all have been paid by now
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alanh
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Post by alanh on Apr 3, 2020 14:35:27 GMT
If there are any investors on this board who have more than 250k invested who are in the *will leave in droves* I'd like to hear from them. Your speculating again, clearly there are people wishing to withdraw; but thats normal in this climate. Stocks down 30%, people sell for 30% less, AC you can't sell for 30% less (unless your a MLA which some have), thats the liquidty issue. It isn't solely that everybody is running; its just a handful of investors want out knowing the risk level has risen OR over exposed themselves. (Just like you can in shares and leads to panic selling) How do you know that?
If the numbers were small you would imagine that they would all have been paid by now
"a handful of investors"? 40% of the loan book is up for sale at a hefty discount access account disbursements have been minimal all large investors are being forced to bail out small investors - doesn't seem unreasonable to think they might leave? Or do you think they are happy? rule changes leaving investors confused leading to lack of trust lender fees being slapped onto locked in accounts causing further anger As a result of all of the above you think a "handful" of investors are leaving? I would be surprised if more than a "handful" are staying.
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alender
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Post by alender on Apr 3, 2020 14:50:49 GMT
Why would lenders need support when we are expecting to continue paying full or nearly full interest for at least the next 3 months? We have communicated that. Borrowers are still liable for their monthly payments too, even on a holiday, and will need to pay eventually. This FCA guidance appears to purely relate to consumer lenders BTW, and yes likely P2P. I have had to borrow money in my company for Salary, Expenses and HMRC. I requested the funds from 30d account in early Feb tried to take it out before the lock down, you would not make the payment to my bank account because you said it was not verified (I believe this had already done, all my other bank accounts in different AC accounts were verified and I remember doing these all at the same time), sent proof in immediately but you took so long doing this the funds were caught by your lock down because of an option I did not know existed and had never used.
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cb25
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Post by cb25 on Apr 3, 2020 14:56:21 GMT
If you dont think people are leaving in droves then maybe you could explain why 40% of the entire MLA is up for sale, much a double digit %age discounts? 40% of the loan book is up for sale at a hefty discount Some facts. Of the order of £60m has always been available on the SM. Currently it is of the order of £80m. A £20m elevation. Hard to say how much is available at hefty, let’s define that as double digit, discounts. If I had to guesstimate I’d say it’s less than £2m. From this thread entry (Mar 28, 2020 in p2pindependentforum.com/thread/13411/loans-available-discount), totalling the Discounted (£) column for those loans showing 10%+ discounts gives £1.43m, and that's an over-estimate as the figure given is the maximum discount and does not imply the whole Discounted amount is at that discount.
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Post by Harland Kearney on Apr 3, 2020 15:01:37 GMT
Using the term handful is more accurate than using the term *90% loss of capital*. My view is a pretty large handful, but it is not ALL investors. Within the context that I've put in the post, if the Access Accounts could correctly discount, then people who want to sell at a 30-40% capital loss can do so. Same as in any market, P2P is lacking this, albeit a few platforms.
People qoute me on speculation, yet making majorly sweeping statements, that can't be countered by facts since they are not accurate. Clearly the situation is dire, but is that a surprise? I guess we will be remined every 25 mintues by the normal posters how bad things are anyway.
Everybody throws around speculation like mad on this site.
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alanh
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Post by alanh on Apr 3, 2020 16:00:32 GMT
Using the term handful is more accurate than using the term *90% loss of capital*. My view is a pretty large handful, but it is not ALL investors. Within the context that I've put in the post, if the Access Accounts could correctly discount, then people who want to sell at a 30-40% capital loss can do so. Same as in any market, P2P is lacking this, albeit a few platforms. People qoute me on speculation, yet making majorly sweeping statements, that can't be countered by facts since they are not accurate. Clearly the situation is dire, but is that a surprise? I guess we will be remined every 25 mintues by the normal posters how bad things are anyway. Everybody throws around speculation like mad on this site. Well thats true, and I suppose we will be reminded by the normal posters every 25 minutes that everything is fine and Assetz are doing a fantastic job. Do try and occasionally look at the facts though. Its all very well being cheerful and optimistic about things but maybe not when you are a passenger in car that is currently heading towards the edge of a cliff.
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ian
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Post by ian on Apr 3, 2020 21:22:47 GMT
Using the term handful is more accurate than using the term *90% loss of capital*. My view is a pretty large handful, but it is not ALL investors. Within the context that I've put in the post, if the Access Accounts could correctly discount, then people who want to sell at a 30-40% capital loss can do so. Same as in any market, P2P is lacking this, albeit a few platforms. People qoute me on speculation, yet making majorly sweeping statements, that can't be countered by facts since they are not accurate. Clearly the situation is dire, but is that a surprise? I guess we will be remined every 25 mintues by the normal posters how bad things are anyway. Everybody throws around speculation like mad on this site. Well thats true, and I suppose we will be reminded by the normal posters every 25 minutes that everything is fine and Assetz are doing a fantastic job. Do try and occasionally look at the facts though. Its all very well being cheerful and optimistic about things but maybe not when you are a passenger in car that is currently heading towards the edge of a cliff. Can’t educate pork pal ... if he’s got less tan £20k invested he will probably be ok others will get severely burned if AC don’t address the fundamental issues in their repositioned stance.
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Post by Harland Kearney on Apr 3, 2020 22:13:26 GMT
Educated enough not to ignore FCA guidelines on investment diversfication clearly. Ironic. I have more than 20k, but just enough that the pool is in my favour.
Oh well;
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alanh
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Post by alanh on Apr 4, 2020 9:28:24 GMT
Educated enough not to ignore FCA guidelines on investment diversfication clearly. Ironic. I have more than 20k, but just enough that the pool is in my favour. Oh well; You are saying that Assetz have deliberately targeted large investors because they think they have invested more than the FCA guidelines? I suppose anything is possible, but fairly unlikely. First of all they don't have a clue what percentage of individual investors net worth they have invested in Assetz or p2p. Secondly, even if someone has got more than the FCA recommended proportion it hardly gives Assetz the right to take it away from them and give it to someone else.
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Post by Harland Kearney on Apr 4, 2020 11:49:40 GMT
No I didn't say that.  |
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alanh
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Post by alanh on Apr 4, 2020 12:49:32 GMT
No I didn't say that. Its a good point. If you look at the way Assetz have targeted large investors then the 2 undeniable points are: 1. All small investors get bailed out and walk away with all their money, the effect of which is that it leaves less people to complain/sue 2. Some of the larger investors might have overextended themselves and gone above FCA guidelines which potentially gives them less ammo to complain if they lose their money It looks more like a damage limitation exercise rather than a well thought out business plan for a going concern. Its also completely flawed. The big investors that haven't overextended themselves will come down on AC like a ton of bricks.
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Mikeme
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Post by Mikeme on Apr 4, 2020 13:16:57 GMT
No I didn't say that. Its a good point. If you look at the way Assetz have targeted large investors then the 2 undeniable points are: 1. All small investors get bailed out and walk away with all their money, the effect of which is that it leaves less people to complain/sue Great as it should be2. Some of the larger investors might have overextended themselves and gone above FCA guidelines which potentially gives them less ammo to complain if they lose their money It looks more like a damage limitation exercise rather than a well thought out business plan for a going concern. Its also completely flawed. The big investors that haven't overextended themselves will come down on AC like a ton of bricks. I won't be leaving.
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