cb25
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Post by cb25 on Sept 7, 2020 14:52:47 GMT
Not everyone invests to get a big growth in value. That's the problem with with investment in this country people looking for short term capital gain not long term return. Look at our airports sold out to a Spanish company. There are so many the same. As Stuart said many times and I believe him AC is trying to do the best for ALL parties. Are they perfect, no! If this current crisis had not happened even those most complaining about their actions affecting their LARGE investments wouldn't be complaining. For me I will continue to support the hard but not perfect work they are doing in unprecedented times. Naive? Maybe. Even the infamous Laird in Scotland's loan may yet not turn into a total disaster. Simplistic from a simple guy. I disagree with that. E.g. with the infamous Scottish loan that you mention, lenders were complaining about AC sitting passively on the sidelines literally for years before Covid19 came around.
The danger is that as the AAs fill up with bad loans, AC once again fail to demand repayment in order to protect the PF and/or their statistics.
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Post by samford71 on Sept 7, 2020 15:03:55 GMT
.... That's the problem with with investment in this country people looking for short term capital gain not long term return ... Wrong. The problem with retail investors in the UK is they are completely addicted to income and carry, and don't give a damn about growth or capital gains. The finance industry, as a service provider, gives those investors exactly what they desire. Even if it makes them very ill over the long haul.
Hence why the FTSE is down 21% YTD but the S&P500 is up 6%. Too many old obsolete business models in the FTSE, still paying 4% dividends out of balance sheet, with no hope of growth or capital gains. It means daft HYP share portfolios, Woodford's Equity Income Fund, toxic Mini-bonds paying 8% and, let me see, oh yes P2P lending. I know let's take a portfolio of micro-entrprises with crappy balances sheets and poor cashflow and let's lend to them. What could possibly go wrong in a cashflow recession? To make it a bit more spicy, lets tell people we can turn illiquid 5-year SME loans into an instant access/30day/90day deposit accounts and still price those loans all at par. God that P2P fairy must have pretty strong magical dust to conjur up that scenario. I'm sure nothing could possibly go wrong with all that.
I've put my avatar back. I used it for years on this forum from 13 through 16. It always encapsulated my view of UK retail investors: love to pick up pennies in front of steamrollers. Nothing changes.
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ian
Posts: 342
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Post by ian on Sept 7, 2020 15:04:56 GMT
They've just gone through a Seedrs equity raise. AC will not be going anywhere soon. £1m  £2m ?? It a drop in the ocean calling in the Scottish loan would account for that. 100 investors referring 20 individual complaints to the Dcc ombudsman sees thar capital raise go down the drain. I hope the company thrives .... but it will be touch and go.
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Mikeme
Member of DD Central
Posts: 428
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Post by Mikeme on Sept 7, 2020 15:06:04 GMT
Not everyone invests to get a big growth in value. That's the problem with with investment in this country people looking for short term capital gain not long term return. Look at our airports sold out to a Spanish company. There are so many the same. As Stuart said many times and I believe him AC is trying to do the best for ALL parties. Are they perfect, no! If this current crisis had not happened even those most complaining about their actions affecting their LARGE investments wouldn't be complaining. For me I will continue to support the hard but not perfect work they are doing in unprecedented times. Naive? Maybe. Even the infamous Laird in Scotland's loan may yet not turn into a total disaster. Simplistic from a simple guy. I disagree with that. E.g. with the infamous Scottish loan that you mention, lenders were complaining about AC sitting passively on the sidelines literally for years before Covid19 came around.
The danger is that as the AAs fill up with bad loans, AC once again fail to demand repayment in order to protect the PF and/or their statistics.
I know I'm being simplistic but we are still in crisis mode. It aint over till the fat lady sings. There will be a time after covid and we all have to wait and see. As to the Scottish loan I agree the Laird is taking the P*** but I have a sneaky feeling he will get his just deserts. I hope so.
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Post by bradley02 on Sept 7, 2020 15:06:18 GMT
They've just gone through a Seedrs equity raise. AC will not be going anywhere soon. Yep, that's the worry with most Seedrs startups... Seedrs has helped raise capital for over three hundred companies; but zero exits by IPO, acquisition, etc. , as far as I know.
Surely there's a limit on how many times you can go back to the investors asking for more funding?
Why is that a concern if you are not an equity investor in AC. AC have raised £8million on Seedrs from over 2300 equity investors. Why should there be a limit when there is clearly equity investor appetite to invest in AC and those investors do so confident in the future growth and success of Assetz Capital. The dung covered glasses that some retail investors view AC through just because of their own Access Account issue is ridiculous. Like all past and present p2p companies, I am sure the board must have discussed the pros and cons of retaining retail investors in the current conditions. I am pleased and appreciate that they have continued with retail investment and so should the disgruntled on this board. If you feel hard done by the way things are now then you have no understanding of how bad it could be if an alternative decision was made.
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johni
Member of DD Central
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Post by johni on Sept 7, 2020 15:06:39 GMT
The imposition of extra fees on lenders has kept them from going under in the short term but I am not sure what the long term strategy is. The access accounts are effectively in wind down mode. Sure, there's a few £ being traded at a 10% odd discount in the SM but there is no new money going in - nobody is going to pay anything close to par for an account that consists of a bunch of defaulted loans, suspended loans, loans with forebearance applied (implying they are struggling to make repayments?) and a balance of loans supposedly covered by a woefully inadequate (possibly exhausted - who knows) provision fund. Oh, and lets not forget the email forewarning that things are going to get worse as certain access loans become untradeable. That leaves them with the MLA, which may or may not be a viable long term proposition. I don't see them being able to launch any other accounts given the ever increasing backlog of failures and tendency to make blanket changes to account mechanics unilaterally and overnight. Risk vs reward is bad enough in p2p in general at the moment without the added complications that AC come with. I really don't understand why you have not sold it is either you don't believe what your saying or is it lets talk the market down so I can keep buying at a big discount and possibly flip later. If you are waiting for a return at par your posts actually doing the opposite to what you want as anyone looking at this board with you and Ian would run a mile. Stuart has said but you don't care to listen as it doesn't fit your narrative that if investors want the AA they will be here for the long term with new loans coming.
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cb25
Posts: 3,528
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Post by cb25 on Sept 7, 2020 15:20:42 GMT
The imposition of extra fees on lenders has kept them from going under in the short term but I am not sure what the long term strategy is. The access accounts are effectively in wind down mode. Sure, there's a few £ being traded at a 10% odd discount in the SM but there is no new money going in - nobody is going to pay anything close to par for an account that consists of a bunch of defaulted loans, suspended loans, loans with forebearance applied (implying they are struggling to make repayments?) and a balance of loans supposedly covered by a woefully inadequate (possibly exhausted - who knows) provision fund. Oh, and lets not forget the email forewarning that things are going to get worse as certain access loans become untradeable. That leaves them with the MLA, which may or may not be a viable long term proposition. I don't see them being able to launch any other accounts given the ever increasing backlog of failures and tendency to make blanket changes to account mechanics unilaterally and overnight. Risk vs reward is bad enough in p2p in general at the moment without the added complications that AC come with. it is either you don't believe what your saying or is it lets talk the market down so I can keep buying at a big discount and possibly flip later. If you are waiting for a return at par your posts actually doing the opposite to what you want as anyone looking at this board with you and Ian would run a mile. Stuart has said but you don't care to listen as it doesn't fit your narrative that if investors want the AA they will be here for the long term with new loans coming. said here (referring to the SM) "When it was first launched I managed to sell several hundred £k at the rate of £25k - £75k per day at discounts between 5% and 7%"?
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alanh
Posts: 556
Likes: 560
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Post by alanh on Sept 7, 2020 15:32:28 GMT
The imposition of extra fees on lenders has kept them from going under in the short term but I am not sure what the long term strategy is. The access accounts are effectively in wind down mode. Sure, there's a few £ being traded at a 10% odd discount in the SM but there is no new money going in - nobody is going to pay anything close to par for an account that consists of a bunch of defaulted loans, suspended loans, loans with forebearance applied (implying they are struggling to make repayments?) and a balance of loans supposedly covered by a woefully inadequate (possibly exhausted - who knows) provision fund. Oh, and lets not forget the email forewarning that things are going to get worse as certain access loans become untradeable. That leaves them with the MLA, which may or may not be a viable long term proposition. I don't see them being able to launch any other accounts given the ever increasing backlog of failures and tendency to make blanket changes to account mechanics unilaterally and overnight. Risk vs reward is bad enough in p2p in general at the moment without the added complications that AC come with. I really don't understand why you have not sold it is either you don't believe what your saying or is it lets talk the market down so I can keep buying at a big discount and possibly flip later. If you are waiting for a return at par your posts actually doing the opposite to what you want as anyone looking at this board with you and Ian would run a mile. Stuart has said but you don't care to listen as it doesn't fit your narrative that if investors want the AA they will be here for the long term with new loans coming. The post was an assessment of the current situation of the access accounts and the platform overall. It seems that you would rather just listen to what Stuart says - fine if it works for you but I would urge you to have a look around you and give it a reality check or you could be in for a nasty surprise.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Sept 7, 2020 15:39:24 GMT
They've just gone through a Seedrs equity raise. AC will not be going anywhere soon. Yep, that's the worry with most Seedrs startups... Seedrs has helped raise capital for over three hundred companies; but zero exits by IPO, acquisition, etc. , as far as I know.
Surely there's a limit on how many times you can go back to the investors asking for more funding?
Quite a few exits, 14 so far at premium. There have been 5 this year goodmoneyguide.com/seedrs-investors-2020-exits/Crowdcube has had 5 at premium
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dead-money
Rocket to the Moon
Posts: 746
Likes: 654
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Post by dead-money on Sept 7, 2020 15:51:17 GMT
Yep, that's the worry with most Seedrs startups... Seedrs has helped raise capital for over three hundred companies; but zero exits by IPO, acquisition, etc. , as far as I know.
Surely there's a limit on how many times you can go back to the investors asking for more funding?
. AC have raised £8million on Seedrs from over 2300 equity investors. Why should there be a limit when there is clearly equity investor appetite to invest in AC and those investors do so confident in the future growth and success of Assetz Capital. The dung covered glasses that some retail investors view AC through just because of their own Access Account issue is ridiculous. Like all past and present p2p companies, I am sure the board must have discussed the pros and cons of retaining retail investors in the current conditions. I am pleased and appreciate that they have continued with retail investment and so should the disgruntled on this board. If you feel hard done by the way things are now then you have no understanding of how bad it could be if an alternative decision was made. I do hold AC shares and convertibles. That holding should soon, fingers crossed, be larger than my AA holdings.
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dead-money
Rocket to the Moon
Posts: 746
Likes: 654
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Post by dead-money on Sept 7, 2020 16:07:18 GMT
Yep, that's the worry with most Seedrs startups... Seedrs has helped raise capital for over three hundred companies; but zero exits by IPO, acquisition, etc. , as far as I know.
Surely there's a limit on how many times you can go back to the investors asking for more funding?
Quite a few exits, 14 so far at premium. There have been 5 this year goodmoneyguide.com/seedrs-investors-2020-exits/Crowdcube has had 5 at premium Thanks ilmoro informative article.
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Post by davee39 on Sept 7, 2020 17:16:32 GMT
One day someone will start an informative thread, perhaps called discount tracker, or forthcoming redemptions and it will not immediately be throttled to total unreadability by the same tired old complaints. Perhaps.
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Mikeme
Member of DD Central
Posts: 428
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Post by Mikeme on Sept 7, 2020 17:33:54 GMT
I really don't understand why you have not sold it is either you don't believe what your saying or is it lets talk the market down so I can keep buying at a big discount and possibly flip later. If you are waiting for a return at par your posts actually doing the opposite to what you want as anyone looking at this board with you and Ian would run a mile. Stuart has said but you don't care to listen as it doesn't fit your narrative that if investors want the AA they will be here for the long term with new loans coming. said here (referring to the SM) "When it was first launched I managed to sell several hundred £k at the rate of £25k - £75k per day at discounts between 5% and 7%"? One has to wonder if those parking large sums of money short term in AA's including 30 and 90 day and wanting to withdraw were the cause of AC having to stop a run and protect the smaller investors that NEEDED the money for living costs not just to make more money.
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alanh
Posts: 556
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Post by alanh on Sept 7, 2020 17:58:10 GMT
alanh said here (referring to the SM) "When it was first launched I managed to sell several hundred £k at the rate of £25k - £75k per day at discounts between 5% and 7%"? One has to wonder if those parking large sums of money short term in AA's including 30 and 90 day and wanting to withdraw were the cause of AC having to stop a run and protect the smaller investors that NEEDED the money for living costs not just to make more money. I know. Its just preposterous isn't it? People that had deposited money in an investment account actually submitting a request to withdraw their investment??? Good god, whatever next? They must be stopped at all costs.  I'm not sure you have fully understood the purpose of these accounts.
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Post by stuartassetzcapital on Sept 7, 2020 18:33:49 GMT
Zero redundancies. Everyone back this month after some were furloughed due to no work to do in loan origination for a bit. Cash up and profits looking good for the year. Retail and CBILS lending now restarted and we have £150m of capacity for CBILS being worked through at pace.
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£2m ?? It a drop in the ocean calling in the Scottish loan would account for that. 100 investors referring 20 individual complaints to the Dcc ombudsman sees thar capital raise go down the drain.
