ceejay
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Post by ceejay on Aug 13, 2020 9:34:55 GMT
Until it is clarified, I will leave things as they are so as to continue to get the dribbles of repayment and some interest. It really ought to be that you still get the pro-rata repayments. My other concern is that the more loans that are repaid while no new loans are written, the worse the overall loanbook becomes as defaulted and troubled loans take an ever greater share of the pot This point has been made often on these pages but I have to say I think it is overstated as an issue. Yes, the troubled loans become a larger share of the pot but, at the same time, if good loans are exiting at full value and not consuming any of the general PF or specific ring-fenced coverage for troubled loans then the cash coverage [NB - not talking about unallocated investor cash here] goes up accordingly. To put it another way, IF (big IF) AC have correctly allocated contingency funds, as they say they have, then the overall quality of the AAs stays good very deep into a run down process (if that's what's happening).
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 13, 2020 10:13:04 GMT
Apologies if this is explained previously/elsewhere .... but is the calc for pro-rata still based your total holdings, or just that sum(s) set for withdrawal. Total holdings p2pindependentforum.com/post/399129/thread
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dead-money
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Post by dead-money on Aug 13, 2020 10:30:49 GMT
I just had a match buying at 10% discount, then turned it around and sold it at 8% (went in about 2 minutes). Tagging dead-money for info Amounts bought at 8%, 9% & 10% discounts overnight, nothing at 11% or more.
To sell you'll need to offer 6.6% or more. 9% to clear £3K, 9.25% to clear £15K or more
Sellers now need to accept 7.6% for £1K rising to 8.2% to clear £10K or more
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badersleg
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Post by badersleg on Aug 13, 2020 12:00:50 GMT
Do you get an email sent to you when you sell at a discount?
regards, Tim
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dead-money
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Post by dead-money on Aug 13, 2020 12:10:30 GMT
Amounts bought at 8%, 9% & 10% discounts overnight, nothing at 11% or more.
To sell you'll need to offer 6.6% or more. 9% to clear £3K, 9.25% to clear £15K or more
Sellers now need to accept 7.6% for £1K rising to 8.2% to clear £10K or more
Sellers now need to accept 8.3% discount
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victors
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Post by victors on Aug 13, 2020 12:18:37 GMT
Too slow. By the time I got there it was down to 6.8%.
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dead-money
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Post by dead-money on Aug 13, 2020 12:27:09 GMT
Sanity check on my maths please
On purchases
Amount received = Amount offered x (1 / (1 - discount %) )
So
£10,000 bought with 10% discount gives £11,111.11 holding
On sales
Amount received = Amount offered x (1 - discount %)
So £11,111.11 holding sold with 7% discount gives £10,333.33 cash
Overall return on matched transactions £333.33
Similarly £10K bought at 9% and sold at 6% returns £329 if bought at 8% and sold at 7% returns £108.70
Overall each 1% of buy / sell spread yields £107 for £10K invested, a 1.09% return for each matched set of transactions. There are no trading costs, nor bid-offer spread, all trades are by live matchmaking.
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iRobot
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Post by iRobot on Aug 13, 2020 12:43:42 GMT
Sanity check on my maths please
On purchases
Amount received = Amount offered x (1 / (1 - discount %) )
So
£10,000 bought with 10% discount gives £11,111.11 holding
On sales
Amount received = Amount offered x (1 - discount %)
So £11,111.11 holding sold with 7% discount gives £10,333.33 cash
Overall return on matched transactions £777.78
I'd look at it differently ... £10,000 bought with 10% discount gives £10,000.00 holding costing £9,000.00 That £10,000.00 holding sold at 7% discount see an income of £9,300.00 The profit is £300 or 3.3% return on a £9,000 investment Edit: Just noticed you've revised your figures 
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dead-money
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Post by dead-money on Aug 13, 2020 13:20:36 GMT
Sanity check on my maths please
On purchases
Amount received = Amount offered x (1 / (1 - discount %) )
So
£10,000 bought with 10% discount gives £11,111.11 holding
On sales
Amount received = Amount offered x (1 - discount %)
So £11,111.11 holding sold with 7% discount gives £10,333.33 cash
Overall return on matched transactions £777.78
I'd look at it differently ... £10,000 bought with 10% discount gives £10,000.00 holding costing £9,000.00 That £10,000.00 holding sold at 7% discount see an income of £9,300.00 The profit is £300 or 3.3% return on a £9,000 investment Edit: Just noticed you've revised your figures iRobot I've gone with the way AC handles it. £10K buy gets you £11,1111 holding, sell that holding, gets you £10,333 back for £333 return on a 3% spread.
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dead-money
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Post by dead-money on Aug 13, 2020 17:21:46 GMT
Sellers now need to accept 7.6% for £1K rising to 8.2% to clear £10K or more
Sellers now need to accept 8.3% discount Currently 6.89% discount required to sell out £10K
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Aug 14, 2020 6:40:16 GMT
I'm sure some clever dev is writing an AA flipping bot as we speak ;-)
An arbitrage bot might be a good thing to stabilise the market. Maybe AC should have developed one. It could either make money for the PF or it could split the difference in the rates pleasing both buyer and seller.
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SteveT
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Post by SteveT on Aug 14, 2020 7:32:28 GMT
I'm sure some clever dev is writing an AA flipping bot as we speak ;-)
An arbitrage bot might be a good thing to stabilise the market. Maybe AC should have developed one. It could either make money for the PF or it could split the difference in the rates pleasing both buyer and seller. The system is auto-matching so there is no scope for arbitrage.
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dead-money
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Post by dead-money on Aug 14, 2020 8:07:31 GMT
Sellers now need to accept 8.3% discount Currently 6.89% discount required to sell out £10K This morning currently 7.3% discount required to sell out , no takers at 8% or 9% overnight.
Last 24 hours: 8%, 9%, 10%, 6.6%, 9.25% 7.6%, 8.2%, 8.3% 09:00 Thur 13/08 to Fri 14/08 09:00
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lobster
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Post by lobster on Aug 14, 2020 9:51:23 GMT
Could someone tell me the approx current % level of free cash in the access accounts , please ?
Am I correct in thinking that every time a repayment is made, AC retain some of the funds to add to the free cash level ?
Thanks.
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agent69
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Post by agent69 on Aug 14, 2020 10:05:34 GMT
I'd wait a week or two before selling. Let all the desperate people sell first at ridiculous discounts. Discounts should decline in a week or two. Great time to buy though! This is one possibility, but it is also possible that there is a finite amount of cash out there available for speculative investments. You may find that in a couple of weeks time all the free cash is gone and nobody is buying (certainly not at <5%).
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