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Post by chris on Aug 26, 2020 9:09:36 GMT
chris If we have set a withdrawal instruction, does this mean we cannot have our monthly interest re-invested? Wouldn't the system need to create a buy order to re-invest the interest? That should be allowed
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Post by jasonnewman on Aug 26, 2020 9:11:20 GMT
Any chance you can hit the 'Cash release' button ? I believe you have £30m sat on your books. why are you sitting on my cash?
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iRobot
Member of DD Central
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Post by iRobot on Aug 26, 2020 9:32:37 GMT
Any chance you can hit the 'Cash release' button ? I believe you have £30m sat on your books. why are you sitting on my cash? Please DO NOT hit the so-called 'Cash release' button. I'd rather that so-called 'cash' be used for making further Tranche payments on developments loans so that they can complete and I can be better assured of receiving a larger amount of my overall investment back. I also appreciate that interest is being earned on that so-called cash, so I regard it as "invested-awaiting-apportionment" as opposed to sitting idly as "cash".
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Post by jasonnewman on Aug 26, 2020 9:34:23 GMT
Any chance you can hit the 'Cash release' button ? I believe you have £30m sat on your books. why are you sitting on my cash? Please DO NOT hit the so-called 'Cash release' button. I'd rather that so-called 'cash' be used for making further Tranche payments on developments loans so that they can complete and I can be better assured of receiving a larger amount of my overall investment back. I also appreciate that interest is being earned on that so-called cash, so I regard it as "invested-awaiting-apportionment" as opposed to sitting idly as "cash". Robot have you considered selling your house and piling into AC loans as you seem so keen?
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iRobot
Member of DD Central
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Post by iRobot on Aug 26, 2020 9:37:13 GMT
Please DO NOT hit the so-called 'Cash release' button. I'd rather that so-called 'cash' be used for making further Tranche payments on developments loans so that they can complete and I can be better assured of receiving a larger amount of my overall investment back. I also appreciate that interest is being earned on that so-called cash, so I regard it as "invested-awaiting-apportionment" as opposed to sitting idly as "cash". Robot have you considered selling your house and piling into AC loans as you seem so keen? Asonnewman - why would I over-expose myself to a high risk investment class? Just because you may have done - and now regret it - doesn't mean you should encourage others to potentially do the same.
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garfield
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Post by garfield on Aug 26, 2020 9:38:02 GMT
Bring back the Bug !
Seriously why should we not be able to have withdrawals at par or a modest discount and also simultaneously be able to invest at a greater discount?
Perhaps it'll change in the future, but that's one of the rules in the current specification. Hi Chris, firstly it's clear you and your tecchie guys have been working flat out! So a big thanks from me!! (been there, done that...) This rule conflicts with setting interest to be re-invested at a discount. Such an instruction may not be able to be fulfilled immediately and thus will sit there as an invest instruction, even though there may be a withdrawal request in place.
I think this is concerning a few of us at the moment, at least those of us who are trying to keep track of all the logic!
I'm also concerned about interest being re-invested at "the highest available discount" as that does not provide a level playing field.
EDIT: from the e-mail of August 21: "Following the recent launch of the Access Account Marketplace, all new investment including the reinvestment of interest and principal repayments will automatically take advantage of any discounted loan holdings available."
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Post by jasonnewman on Aug 26, 2020 9:40:15 GMT
Robot have you considered selling your house and piling into AC loans as you seem so keen? Asonnewman - why would I over-expose myself to a high risk investment class? Just because you may have done - and now regret it - doesn't mean you should encourage others to potentially do the same. People selling at significant loss when AC are holding RECORD large amounts of cash on their books. That is a disgrace.
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bg
Member of DD Central
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Post by bg on Aug 26, 2020 9:43:46 GMT
Asonnewman - why would I over-expose myself to a high risk investment class? Just because you may have done - and now regret it - doesn't mean you should encourage others to potentially do the same. People selling at significant loss when AC are holding RECORD large amounts of cash on their books. That is a disgrace. It's hardly a record. The cash balance was higher in February and back in June last year it was almost double the current level.
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Post by jasonnewman on Aug 26, 2020 9:46:47 GMT
Who says AC have to pay interest on the £24m sat on the books?
It earns 0, the access account interest are TARGET rates, effectively that means interest can be lower than the target. So you earn nothing on the cash sitting in place. That is how I have read it.
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Mikeme
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Post by Mikeme on Aug 26, 2020 9:48:22 GMT
Any chance you can hit the 'Cash release' button ? I believe you have £30m sat on your books. why are you sitting on my cash? When children are annoying they are put to the back of the class. Can AC put him to the back of the queue? Oh! No! We are all in this together.
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johni
Member of DD Central
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Post by johni on Aug 26, 2020 10:25:01 GMT
Who says AC have to pay interest on the £24m sat on the books? It earns 0, the access account interest are TARGET rates, effectively that means interest can be lower than the target. So you earn nothing on the cash sitting in place. That is how I have read it. Well you read it wrong
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 26, 2020 10:26:07 GMT
Any chance you can hit the 'Cash release' button ? I believe you have £30m sat on your books. why are you sitting on my cash? When children are annoying they are put to the back of the class. Can AC put him to the back of the queue? Oh! No! We are all in this together. Could the Forum Admins at least put him in the cooler for a while?
NB He still hasn't answered the question as to whether he's still invested in AC and why? He could have left this week or last week.
FYI, Exiting at 6% discount would not have been a loss for anyone who'd earned eighteen months of interest on QAA.
And in any case, surely accepting a modest capital loss would be a small price to pay to escape a company he pathological despises?
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dead-money
Rocket to the Moon
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Post by dead-money on Aug 26, 2020 10:27:39 GMT
Oh goody! another 'Are You Sure' Confirmation box has appeared, after you've read the page and a half warning for selling at a discount. Just what we didn't need...
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agent69
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Post by agent69 on Aug 26, 2020 11:53:57 GMT
When children are annoying they are put to the back of the class. Can AC put him to the back of the queue? Oh! No! We are all in this together. Could the Forum Admins at least put him in the cooler for a while?
NB He still hasn't answered the question as to whether he's still invested in AC and why? He could have left this week or last week.
FYI, Exiting at 6% discount would not have been a loss for anyone who'd earned eighteen months of interest on QAA.
And in any case, surely accepting a modest capital loss would be a small price to pay to escape a company he pathological despises?
If you don't like what he is saying, why not just block his posts?
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blender
Member of DD Central
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Post by blender on Aug 26, 2020 12:20:01 GMT
No forum rules have been broken. The grumpy posts serve the function of making the rest of us look reasonable.
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