amwinv
Member of DD Central
Posts: 198
Likes: 282
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Post by amwinv on Apr 11, 2020 15:51:46 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge.
If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing.
I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again.
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warn
Member of DD Central
Curmudgeon
Posts: 637 
Likes: 658
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Post by warn on Apr 11, 2020 17:37:46 GMT
It would also help if they weren't fed.
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Post by jasonnewman on Apr 11, 2020 18:03:26 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge. If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing. I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again. This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again?
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SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
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Post by SteveT on Apr 11, 2020 18:16:54 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge. If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing. I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again. This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again? I presume you too were obliged to complete AC’s lender appropriateness test a few months back? If so, you already confirmed your full appreciation of the risks that you might NOT be able to access your cash in a “reasonable time frame” if normal market conditions ended. So why all the faux shock and outrage now? You’re making this forum unreadable for others and making yourself look a fool.
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Post by Harland Kearney on Apr 11, 2020 18:23:05 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge. If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing. I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again. This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again? Yes, in normal conditions. No, this is a global crash crisis again.
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Post by jasonnewman on Apr 11, 2020 18:36:20 GMT
First AC blamed the virus, then they blamed the lockdown and the stock market falls but when the virus is gone and the lockdown is lifted AC will have the same issues - the reason? because they have lost trust and did the opposite of what we expect. It is simple - I am telling you lot what will happen over the long term.
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Post by Harland Kearney on Apr 11, 2020 19:14:39 GMT
First AC blamed the virus, then they blamed the lockdown and the stock market falls but when the virus is gone and the lockdown is lifted AC will have the same issues - the reason? because they have lost trust and did the opposite of what we expect. It is simple - I am telling you lot what will happen over the long term. So by this logic, how do we explain the overwhelming votes for A (when counting only those who voted to make it fair) It seems a majority support AC's actions or at least have not voted against them? Assetz Capital locked liquidity due to the virus, as has every single other P2P platform with a portfilio aimed towards SME/Property? I believe ABL is the platform that is funding new loans right now. Many of the locked platforms are not paying out interest and are even forcing hair cuts on lenders via fees higher than what we have on AC.There will be some investors who go for the door and never come back, but I think a majority of those investors are individals who didnt' understand the asset class they invested in. I think we can tell who those people are on this board very easily, all due respect. Many are simply rebalancing asset allocation (as in my case) to reduce exposure where possible over the coming 12-18 months. What exactly did you want AC to do? You should of exited when the Virus hit the UK if you were not confident in the strengh of your investments. Please don't reply with a generic comment about releasing money that is for borrower commitments... We know it doesn't work that way!
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 11, 2020 19:36:06 GMT
First AC blamed the virus, then they blamed the lockdown and the stock market falls but when the virus is gone and the lockdown is lifted AC will have the same issues - the reason? because they have lost trust and did the opposite of what we expect. It is simple - I am telling you lot what will happen over the long term. So by this logic, how do we explain the overwhelming votes for A (when counting only those who voted to make it fair) It seems a majority support AC's actions or at least have not voted against them? Assetz Capital locked liquidity due to the virus, as has every single other P2P platform with a portfilio aimed towards SME/Property? I believe ABL is the platform that is funding new loans right now. Many of the locked platforms are not paying out interest and are even forcing hair cuts on lenders via fees higher than what we have on AC.There will be some investors who go for the door and never come back, but I think a majority of those investors are individals who didnt' understand the asset class they invested in. I think we can tell who those people are on this board very easily, all due respect. Many are simply rebalancing asset allocation (as in my case) to reduce exposure where possible over the coming 12-18 months. What exactly did you want AC to do? You should of exited when the Virus hit the UK if you were not confident in the strengh of your investments. Please don't reply with a generic comment about releasing money that is for borrower commitments... We know it doesn't work that way! I don't think (most of) the people going for the door fall into the category you described on this occasion. I've been investing in p2p and pretty much everything else for a very long time so I understand risk and am happy taking risks. I am going for the door for one simple reason and that is that AC have made it abundantly clear that I am no longer welcome on this platform. Nor is any other large investor. I think the majority of the people heading for the door are doing it because they no longer trust AC and have no wish to stick around on a platform which is bleeding money from them to pay out to others.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Apr 11, 2020 19:43:29 GMT
I agree the board is in danger of becoming unusable, which is a real pity as there have been some perceptive posts- it is just becoming too much of a chore to have to plough through tedious, often aggressive, and tediously repetitive posts to find those worth reading. What is really tedious are those that blame others for their own failings.
I am one of the "big" investors who is apparently disadvantaged by the pooling. I am also reconciled to probably taking a hit on the money I have with AC (as I probably will with my investments on other platforms)- and do you know whose fault this is? It is mine- totally mine.
I didn't plan for such a Black Swan event as Covid-19, and it is the mother of all Black Swans. There is no point crying over it, or looking for others to blame. The management of AC strike me as trying their darndest to navigate the company through this unpredicted tsunami- I may not agree with everything they are doing, but I respect their efforts.
First rule of investing :if you claim the rise you own the fall- don't blame others for your investment mistakes. We all signed up for this, we should have known what the risk was- albeit we were all flummoxed by something absolutely unforeseen- but that is life.
Be great if the Board could get back to sharing ideas, questions, and less of the playground shouting. But somehow i doubt it.
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amwinv
Member of DD Central
Posts: 198
Likes: 282
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Post by amwinv on Apr 11, 2020 19:47:36 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge. If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing. I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again. This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again? This is probably my one and only direct interaction with you Jason. Read my post again. If you have a complaint with AC, direct your rage at them. Please, please, please stop ruining this board that has no control over what AC do!!!!!Email them all your hourly posts and polls. You are clearly fighting a losing battle with the members of this forum, and even if 100% of us agreed with you, we are a tiny fraction of AC's lenders.. We are all in the same boat. We all have money with AC. You are understandably worried, as we all are, but your level of panic and frequent petty outbursts just show that you have clearly overstretched yourself, and for that, you have no one to blame but yourself. Now can we all please just go back to posting only what is actually relevant and helpful?
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happy
Member of DD Central
Posts: 397
Likes: 497
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Post by happy on Apr 11, 2020 19:51:08 GMT
This AC board is completely unusable now. The whole point of this forum was the sharing of useful information and knowledge. If you have a complaint with AC, direct your rage at them, don't bombard the 1% of AC's investors who use this forum with endless arguing. I wish a Mod would just delete all those useless, repetitive, pointless bickering threads, and set a user limit of one new thread - per user - per week, until people learn how to be a responsible human again. This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again? I'm sorry, but are you really being serious.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 11, 2020 19:56:40 GMT
I agree the board is in danger of becoming unusable, which is a real pity as there have been some perceptive posts- it is just becoming too much of a chore to have to plough through tedious, often aggressive, and tediously repetitive posts to find those worth reading. What is really tedious are those that blame others for their own failings. I am one of the "big" investors who is apparently disadvantaged by the pooling. I am also reconciled to probably taking a hit on the money I have with AC (as I probably will with my investments on other platforms)- and do you know whose fault this is? It is mine- totally mine. I didn't plan for such a Black Swan event as Covid-19, and it is the mother of all Black Swans. There is no point crying over it, or looking for others to blame. The management of AC strike me as trying their darndest to navigate the company through this unpredicted tsunami- I may not agree with everything they are doing, but I respect their efforts. First rule of investing :if you claim the rise you own the fall- don't blame others for your investment mistakes. We all signed up for this, we should have known what the risk was- albeit we were all flummoxed by something absolutely unforeseen- but that is life. Be great if the Board could get back to sharing ideas, questions, and less of the playground shouting. But somehow i doubt it. We all took risks with our investments and are now facing losses across many asset classes. Thats how the cycle goes. The situation is made considerably worse on AC for large investors as they are now being forced to bail out all the smaller investors. AC management have decided that if you are a small investor on this platform you should not be allowed to suffer any losses like everyone else - you should get them reimbursed by one of the bigger investors on the platform. Personally I think the management of AC have made a series of spectacularly shortsighted decisions that have placed the future of their platform in doubt.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 11, 2020 19:58:26 GMT
This problem has been caused by AC - I am an investor that invested in the access account on the basis that I would be able to access my cash in a reasonable time frame. It feels I have been mis-sold a product, is this the PPI crisis again? This is probably my one and only direct interaction with you Jason. Read my post again. If you have a complaint with AC, direct your rage at them. Please, please, please stop ruining this board that has no control over what AC do!!!!!Email them all your hourly posts and polls. You are clearly fighting a losing battle with the members of this forum, and even if 100% of us agreed with you, we are a tiny fraction of AC's lenders.. We are all in the same boat. We all have money with AC. You are understandably worried, as we all are, but your level of panic and frequent petty outbursts just show that you have clearly overstretched yourself, and for that, you have no one to blame but yourself. Now can we all please just go back to posting only what is actually relevant and helpful? One thing that I can tell you for certain is that we are not all in the same boat
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Apr 11, 2020 20:04:17 GMT
Alanh- we perhaps just need to agree to disagree on the competence of ACs management. I know, running the firm I am boss of with 400 people, and all sorts of Covid-19 issues with banks/ shareholders/ employees/ customers- getting 75% of decisions right facing something as potentially lethal (both individually and corporately) as the pandemic is more luck than judgement. I am sure AC management have made mistakes, but would suggest on balance they are trying flipping hard to deal with the crisis. Agree others will have a differnt interpretation.
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bg
Member of DD Central
Posts: 1,368
Likes: 1,929
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Post by bg on Apr 11, 2020 20:56:42 GMT
I agree the board is in danger of becoming unusable, which is a real pity as there have been some perceptive posts- it is just becoming too much of a chore to have to plough through tedious, often aggressive, and tediously repetitive posts to find those worth reading. What is really tedious are those that blame others for their own failings. I am one of the "big" investors who is apparently disadvantaged by the pooling. I am also reconciled to probably taking a hit on the money I have with AC (as I probably will with my investments on other platforms)- and do you know whose fault this is? It is mine- totally mine. I didn't plan for such a Black Swan event as Covid-19, and it is the mother of all Black Swans. There is no point crying over it, or looking for others to blame. The management of AC strike me as trying their darndest to navigate the company through this unpredicted tsunami- I may not agree with everything they are doing, but I respect their efforts. First rule of investing :if you claim the rise you own the fall- don't blame others for your investment mistakes. We all signed up for this, we should have known what the risk was- albeit we were all flummoxed by something absolutely unforeseen- but that is life. Be great if the Board could get back to sharing ideas, questions, and less of the playground shouting. But somehow i doubt it. We all took risks with our investments and are now facing losses across many asset classes. Thats how the cycle goes. The situation is made considerably worse on AC for large investors as they are now being forced to bail out all the smaller investors. AC management have decided that if you are a small investor on this platform you should not be allowed to suffer any losses like everyone else - you should get them reimbursed by one of the bigger investors on the platform. Personally I think the management of AC have made a series of spectacularly shortsighted decisions that have placed the future of their platform in doubt. I have sympathy with your position but given the vast majority of repayments are currently being withheld by AC and they have stated they are intending to move back to a proper queue system then surely the numbers involved are really negligible for a larger investor? Also, when we do move back to a queue by withdrawal date, won't we have the same argument that those at the front of the queue are are being bailed out by those behind them despite everyone having a withdrawal request in?
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