oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 24, 2014 10:35:33 GMT
Whatever Z-Mat says he is open about who he is.
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Post by wibble on Dec 24, 2014 11:00:40 GMT
Whatever Z-Mat says he is open about who he is. Fair comment, can't dispute that.
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pikestaff
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Post by pikestaff on Dec 24, 2014 11:11:06 GMT
For me personally, it's a non-issue as it currently stands today. Presumably the risk has already been correctly assessed by RS and factored into that loan's particular contribution the the Provision Fund?... ...Have to say, though, if nothing else, I find ZopaMat's thinly-veiled attacks very interesting and cements my decision to leave Zopa just over a year ago. If they were completely innocent and originated from a genuine personal curiosity, then why not post from a personal non-branded account? Treading on dangerous ground, IMHO. I'm not so confident, for a number of reasons: - RS has less experience with business and property loans - Just having individually larger loans makes the portfolio more granular and hence the fund is less robust - I suspect default rates on business and property loans are more highly correlated than are default rates on personal loans so the risk of a large number of hits in a short period is much bigger. In addition I chose RS partly for the provision fund and partly as a diversification from my p2b lending on other platforms. I'm now less diversified, which is bad. On your second point I'd much rather they posted from a Zopa account than hide behind the cloak of anonymity. But it still (rightly or wrongly) makes me less likely to invest on Zopa.
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Post by Deleted on Dec 24, 2014 12:17:38 GMT
Hi Wibble, Pikestaff,
The rules of this independent forum make clear that representatives or anyone associated with a P2P platform must be transparent with their identity, hence why I have maintained the same user name as per the Zopa forum, rather than set up a company profile for Zopa. This avoids anonymity and is in the spirit of openness and transparency which was the intention of this thread as per my original post.
As an industry we are aiming to become a mainstream service to millions of everyday people over the coming 12 months and part of this transition is having a national awareness level built around trust as an alternative to the traditional banks. Therefore, it is important we build on the trust we have worked hard to secure from consumers over the past 10 years and from businesses over the past 4 since FC launched by being more open and transparent as an industry. That way you know where your money is being lent and what for. That means as an lender/investor/consumer/customer you can make an informed decision based on the risk/reward of lending to either an individual or a business or both through whatever platform you use.
I hope that makes sense and for even greater openness I have updated my avatar with my photo so you all know who I am.
It's past midday on Christmas Eve, so time for me to put down the laptop and wish you all a good Christmas.
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Post by goldservice on Dec 24, 2014 14:35:42 GMT
If zopamat had used a private alias, and it had become known who he was, he might have been criticised for subterfuge.
The reason I gave up Zopa, a year ago, was the extraordinarily roundabout way in which lending was made, and the length of time it took for me to lend a significant amount. It may have improved since then but I'm settled now with RS and FC, and my brain can't cope with managing more than two P2x investments, so I'm letting my 25K in ZP dwindle.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 24, 2014 15:19:51 GMT
"...even greater openness I have updated my avatar with my photo so you all know who I am".
Safe. No competition for me then on the P2P avatar matwalk ... I mean catwalk!
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Post by wibble on Dec 29, 2014 9:27:46 GMT
I hope that makes sense and for even greater openness I have updated my avatar with my photo so you all know who I am. On reflection, my original comment was poorly worded. Your reply and actions are more than I was expecting to convince me your intentions weren't perhaps as dark as I originally thought. Kudos to you, and a Happy New Year :-)
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