alender
Member of DD Central
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Post by alender on Jan 24, 2021 10:40:44 GMT
It is true that "financial affairs of many people throughout the entire world have been thrown into disarray" but now is also it is also true that quite a few investments have normalised. In ACs case they have not done a single thing to normalise the AAs which will occur if/when access is returned, in fact their actions have exacerbated the issue.
AC
- Introduced flat rate of repayments which disadvantaged large investors, this caused a lot a of bad feeling (and lack of funds) making AC a place where large investors are second class and are clearly not welcome. There can be no better way if you wish to reduce funds/increase withdrawals than to isolate and disadvantage you largest investors.
- Rigged a vote on forbearance where any one who did not vote was deemed to have voted for ACs preferred option, no matter what the outcome of the vote handling a vote in this way will lose confidence in AC and with more people determined to get out.
Also the consent changing of the ways the accounts operate with no consultation or regard for the lenders except perhaps a rigged vote, these accounts are nothing like I signed up for. This can only further reduce confidence and therefore reluctance to stay or increase funds in the accounts.
It would be nice if AC could do something positive to increase access to the AAs or even just stop making the situation worse.
Wrong on block new money entering the accounts any new money entered but via a discount. This happened and is still happening. But you now have your wish AC have stopped recycling money meaning you will get out a lot slower. As people who get cash back now have to withdraw rather than reinvesting. Meaning the queues were reducing faster as those who wanted out left those that didn't but wanted reduced risk to stay put money back into accounts. Wrong on block new money entering the accounts any new money entered but via a discount. This happened and is still happening.
I struggle to understand your logic, there is no new money entering the accounts while SM operates, everyone investing in the AAs whether through reinvestments of interest or new deposits will buy from the SM, the total balance of the AAs will not increase. Before the SM they would buy directly into the AAs so the total balance of the AAs increases i.e. new money entering the accounts. While the SM operates the funds in the AAs can only reduce if there is a least one person getting capital withdraws. Or to put it another way it is the same as if you buy shares, bonds on an exchange or over the counter (which is what the SM is) no new money enters the company, on an IPO or RI you buy new shares which and new money enters the company. If you think I am wrong please explain how new money is being added to the accounts increasing the total balance as it certainly cannot be via the SM.
But you now have your wish AC have stopped recycling money meaning you will get out a lot slower. As people who get cash back now have to withdraw rather than reinvesting. Meaning the queues were reducing faster as those who wanted out left those that didn't but wanted reduced risk to stay put money back into accounts.
Please explain why you are stating this is my wish? it is news to me, this is a straw man argument it is certainly not in my post.
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ceejay
Posts: 975
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Post by ceejay on Jan 24, 2021 11:19:05 GMT
Not sure about the assertion that recycling has been wholly prevented ... certainly in QAA I'm still able to recycle. Just cancel the withdrawal order, invest spare cash, and restart withdrawal. I understand that things may be different in 30DAA.
And in case anyone is worried about losing their place in the queue - personally I think that's a non-issue: as things stand no par withdrawal request is getting to the front, however long you wait.
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dead-money
Rocket to the Moon
Posts: 746
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Post by dead-money on Jan 24, 2021 13:43:48 GMT
We seem to have stopped tracking discounts on this thread 
There's been no movement for me at 0.6% for two days (apart from a measly £20 yesterday). It looks like the best discount now for selling is 0.9%.
We're approaching month end, so expect people are sitting tight waiting for the interest payment day; auto-reinvestment of which for the silent majority pushes the discount down.
Will see what happens week on Monday.
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ian
Posts: 342
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Post by ian on Jan 25, 2021 10:50:50 GMT
Got £2k out at 0.5% on Friday ....
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mogish
Member of DD Central
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Post by mogish on Jan 25, 2021 11:11:21 GMT
Got £2k out at 0.5% on Friday .... Did you place that discount some time ago? Reason I ask is I have 0.5% sell still unsold, was wondering if the sell works on when you placed the order or volume of buyers.
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Post by Ace on Jan 25, 2021 11:23:37 GMT
Got £2k out at 0.5% on Friday .... Did you place that discount some time ago? Reason I ask is I have 0.5% sell still unsold, was wondering if the sell works on when you placed the order or volume of buyers. AIUI there's a strict FIFO queue within each 0.1% discount level. Higher discounts are always sold before lower ones. Had you cancelled your sale and created a new sale at 0.6% discount you would have been in front of Ian. Unfortunately AC don't publish the discount queues, so you're selling blind other than the very useful regular postings on this forum.
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cb25
Posts: 3,528
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Post by cb25 on Jan 25, 2021 11:28:12 GMT
Did you place that discount some time ago? Reason I ask is I have 0.5% sell still unsold, was wondering if the sell works on when you placed the order or volume of buyers. . Higher discounts are always sold before lower ones. Had you cancelled your sale and created a new sale at 0.6% discount you would have been in front of Ian. Unfortunately AC don't publish the discount queues, so you're selling blind other than the very useful regular postings on this forum.
"How does the discounting work?
In its simplest form, the marketplace will automatically connect those looking to invest and withdraw who have matched discounting instructions.
For example, if an investor wanted to sell £5,000 of their QAA loan holdings at a discount of 2%, and another investor was happy to invest £5,000 at the same discount level, these instructions would be matched, and the requests would be fulfilled. If there are a number of investors with the same discount, the system will operate on a first come, first served basis."
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mogish
Member of DD Central
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Post by mogish on Jan 25, 2021 11:45:05 GMT
Thanks for the explanation. Investing with AC certainly requires patience 😁
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Post by oppsididitagain on Jan 25, 2021 12:00:35 GMT
1.00 / 1.40 in 2K now
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ian
Posts: 342
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Post by ian on Jan 25, 2021 12:09:42 GMT
Did you place that discount some time ago? Reason I ask is I have 0.5% sell still unsold, was wondering if the sell works on when you placed the order or volume of buyers. AIUI there's a strict FIFO queue within each 0.1% discount level. Higher discounts are always sold before lower ones. Had you cancelled your sale and created a new sale at 0.6% discount you would have been in front of Ian. Unfortunately AC don't publish the discount queues, so you're selling blind other than the very useful regular postings on this forum. Yes I think it’s been there 4 months that said I would imagine there were very few queued below 0.5% prior to January
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blender
Member of DD Central
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Post by blender on Jan 25, 2021 15:00:29 GMT
AIUI there's a strict FIFO queue within each 0.1% discount level. Higher discounts are always sold before lower ones. Had you cancelled your sale and created a new sale at 0.6% discount you would have been in front of Ian. Unfortunately AC don't publish the discount queues, so you're selling blind other than the very useful regular postings on this forum. Yes I think it’s been there 4 months that said I would imagine there were very few queued below 0.5% prior to January 0.5% will be a popular number. Selling at 0.6%, or (1.1% etc at earlier times) can put you ahead of the crowd for a small amount, I think
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Post by Ace on Jan 25, 2021 15:06:06 GMT
Yes I think it’s been there 4 months that said I would imagine there were very few queued below 0.5% prior to January 0.5% will be a popular number. Selling at 0.6%, or (1.1% etc at earlier times) can put you ahead of the crowd for a small amount, I think Damn you blender, you've just cost me another 0.1% 🤪
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Post by oppsididitagain on Jan 25, 2021 17:03:09 GMT
SHM moving a bit again today.. I managed to Invest 1K at 1.20%. this afternoon
Seems to have settled back to 0.7 /0.9 in 2K now.
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Post by oppsididitagain on Jan 26, 2021 16:42:00 GMT
managed to invest at 1% overnight, now its
0.6 / 0.8 in 10k / 20K.
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Post by oppsididitagain on Jan 26, 2021 16:51:26 GMT
Sold out a decent chunk at 0.6%.
Edit: this was between 10am and 4pm today... lots of chunks large and small. It doesn't seem like people would be buying in such small amounts, so perhaps this is something else? I spoke to AC about the smaller amounts, and I got the impression the MLA is somehow linked to the SHM. They hinted that certain transactions going through the MLA can have an affect and end up on the SHM. There definitely is a few 10K's going through the SHM on a daily basis, which is why I am trying to 'nick' a few % here and there on my balances
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