mikes1531
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Post by mikes1531 on Apr 3, 2014 20:38:12 GMT
The question you pose is a very fair one and I guess that it was this, amongst other things, that caused the FCA to take an interest in P2P. There cannot be much doubt that a large number of the lenders on FC are drawn from the ranks of disgruntled Building Society investors so it is logical to expect it to be similar for AC.
Regarding the implementation of AI, I am concerned about the number of tweaks and twists that have already had to take place on this module that suggest to me that it has been implemented on the fly and not fully thought through before it was launched. Another factor is the lack of documentation as has been pointed out by another person on this thread. Not having full information of the main site completely defies my understanding. What worries me even more is that if they are about to add further layers of complexity as Chris suggests where will this take us?
I think we should give Chris and his team the time they need to develop their ideas into the finished product. You can argue that they should have worked to finish it before presenting it to us, but most of AC's investors are probably relishing the opportunity to help in its final development. With complex systems, you can test all you like and there still will be some combination of parameters that you didn't consider that doesn't work as it should. So it doesn't surprise me that some tweaking is required after release. (Look what happened with the Ts&Cs of the cashback offer!) What I see in this exercise that's very positive is the reaction from AC. We didn't get any "we don't think we have a problem" comments as have occurred with at least one other company with a presence on the P2PIF. What we did get was a "we'll fix it" reaction, and that's what everyone should appreciate. I also appreciate the feeling that the comments from the forum members are welcomed by AC, and that our opinions and suggestions will be considered by them and adopted if they're felt to be useful. That's a great attitude!
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markr
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Post by markr on Apr 4, 2014 9:54:30 GMT
I wonder whether AI will gain enough options that in future an investors will be able to instruct it that when parts of Loan X come onto the AM AI should sell parts of Loan Y to raise the funds needed to invest in Loan X? An even better (IMHO) extension to that would be to mark loans as "sell if required", so if any part I want to buy becomes available and I don't have funds, AI will search my list of "sell if required" loans to see if there's a buyer and, if so, sell that and buy the other in an atomic (Ahhh, your hair is beautiful, haha now it's your earworm, too) transaction. Maybe even have the option to put any loans with exposure >£X or >X% in the "sell as required" list automatically, making it a sort of "Auto Diversify" tool.
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mikes1531
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Post by mikes1531 on Apr 4, 2014 10:37:11 GMT
I wonder whether AI will gain enough options that in future an investors will be able to instruct it that when parts of Loan X come onto the AM AI should sell parts of Loan Y to raise the funds needed to invest in Loan X? An even better (IMHO) extension to that would be to mark loans as "sell if required", so if any part I want to buy becomes available and I don't have funds, AI will search my list of "sell if required" loans to see if there's a buyer and, if so, sell that and buy the other in an atomic (Ahhh, your hair is beautiful, haha now it's your earworm, too) transaction. It's an interesting idea, but I'd worry about the resulting chain reaction that could cause a system meltdown. (Was that the reason for the 'atomic' reference?)
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j
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Post by j on Apr 4, 2014 11:34:03 GMT
Having luckily had the opportunity over the last 48 hours or so, which I don't usually have, to monitor AM very closely, I cannot recall a single instant of seeing any units (barring the 3 big ones) coming up for sale. Of course, I might have blinked & missed it by all means. Before that, I still saw units ate least once or twice a day, if not more. Granted, they tended to be in loans I did not want to buy but, they still came up. It is early days as we all keep saying but my initial thoughts still remain that AI is great for normal buying & selling but not for AM. PS Just like you mikes1531, my AI commands still haven't yielded a single purchase from AM!  |
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Post by pepperpot on Apr 4, 2014 11:45:46 GMT
It's working, I picked up a batch of Stour****** yesterday, I managed to miss that one so it probably came to me because I had zero exposure to it.
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walktall7
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Post by walktall7 on Apr 4, 2014 12:43:21 GMT
There are five loans with underwriting to draw down. When they do put units on AM lenders might adjust there holdings so as to purchase the new units and then auto invest might be busy? But when will these loans like Y******re L*****re B draw down.
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j
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Post by j on Apr 4, 2014 13:36:58 GMT
It's working, I picked up a batch of Stour****** yesterday, I managed to miss that one so it probably came to me because I had zero exposure to it. I've got none in this one also (as yet) but obviously other members were before me in the queue as I had set up an AI on it. I'm still veering towards the old system when it comes to AM & AI, despite not having much luck catching what I wanted on it when it was first come, first serve, which whilst many of us, me included, mostly not always had time to monitor due to work/family commitments, at least had a defined basis to it that was down to human control . AI in relation to AM seems a bit idiosyncratic to me (imho only, others can disagree). Maybe I'll change my view if I ever pick a decent chunk of units in the loans I want to diversify in, but I doubt it.
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oldgrumpy
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Post by oldgrumpy on Apr 4, 2014 14:23:46 GMT
OK. Having read all this, I shall switch my shopping list back on - making sure I keep enough new cash back in my bank to afford my March shadow bids as they draw down. It seems selling old units to pay for them will be to the detriment of new cash coming in when the cash back accumulator is calculated. Look out big boys - Grumps has £100+ to spend!  |
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markr
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Post by markr on Apr 4, 2014 14:50:06 GMT
Having luckily had the opportunity over the last 48 hours or so, which I don't usually have, to monitor AM very closely, I cannot recall a single instant of seeing any units (barring the 3 big ones) coming up for sale. Of course, I might have blinked & missed it by all means. Before that, I still saw units ate least once or twice a day, if not more. Granted, they tended to be in loans I did not want to buy but, they still came up. Bear in mind though, that there's also a cashback promotion on that penalises selling on the AM (for anyone who intends to make an investment in April, the AM effectively has at least a 0.5% fee for the duration of the offer).
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j
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Penguins are very misunderstood!
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Post by j on Apr 4, 2014 15:38:24 GMT
Having luckily had the opportunity over the last 48 hours or so, which I don't usually have, to monitor AM very closely, I cannot recall a single instant of seeing any units (barring the 3 big ones) coming up for sale. Of course, I might have blinked & missed it by all means. Before that, I still saw units ate least once or twice a day, if not more. Granted, they tended to be in loans I did not want to buy but, they still came up. Bear in mind though, that there's also a cashback promotion on that penalises selling on the AM (for anyone who intends to make an investment in April, the AM effectively has at least a 0.5% fee for the duration of the offer). My point exactly! I'm happy to take advantage of the promotion if I can get my hands in any units in the first place. AI has nor worked for me yet, but I'll wait & see. Also, if members who do not have free funds & would have to sell first to buy again will be disadvantaged but, I can understand AC taking precaution on this one by deducting the two first & it would be easily open to abuse otherwise just to get the bonus.
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mikeb
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Post by mikeb on Apr 4, 2014 17:26:28 GMT
An even better (IMHO) extension to that would be to mark loans as "sell if required", so if any part I want to buy becomes available and I don't have funds, AI will search my list of "sell if required" loans to see if there's a buyer and, if so, sell that and buy the other in an atomic (Ahhh, your hair is beautiful, haha now it's your earworm, too) transaction. It's an interesting idea, but I'd worry about the resulting chain reaction that could cause a system meltdown. (Was that the reason for the 'atomic' reference?) That wasn't the atomic reference, but a good coincidence. I dare not explain "atomic transaction" or the geek-police will descend again. Basically: "Do, or do not do, there is no try"  Instead of selling a loan part, and then finding there's nothing to buy with the released funds -- only sell my loan part IF a loan part can be purchased with that cash. That does however set up a bit of a chain reaction (earworm-2) with other lender's accounts.
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Post by Ton ⓉⓞⓃ on Apr 4, 2014 19:49:15 GMT
Having luckily had the opportunity over the last 48 hours or so, which I don't usually have, to monitor AM very closely, I cannot recall a single instant of seeing any units (barring the 3 big ones) coming up for sale. Of course, I might have blinked & missed it by all means. Before that, I still saw units ate least once or twice a day, if not more. Granted, they tended to be in loans I did not want to buy but, they still came up. It is early days as we all keep saying but my initial thoughts still remain that AI is great for normal buying & selling but not for AM. PS Just like you mikes1531, my AI commands still haven't yielded a single purchase from AM! I find that a useful observation j1 thanks for report it. I haven't spent much time refreshing the AM in the last few days but previously there definitely was a certain amount, sporadically that appeared. So in future I suppose we'll not get any warning signs from the AM, Such as E-T last weekend. I wasn't a holder of this so the only indication of a problem was when the stock just kept on appearing then I investigated. I've set my AIM's relatively low for this reason. Today at 9.30 money hit my account for the first time since AI, and I've not been to the front of the queue yet either.
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Post by oldnick on Apr 5, 2014 4:46:01 GMT
It appears I may have inadvertently offended chielamangus by making a couple of posts in this thread referring to unsophisticated investors. Here is a link to my reply on the Wellesley board. p2pindependentforum.com/post/9180
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walktall7
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Post by walktall7 on Apr 5, 2014 9:24:59 GMT
There has just been £200 of G*** D*** boi*** which I bought
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Post by Ton ⓉⓞⓃ on Apr 5, 2014 9:52:56 GMT
There has just been £200 of G*** D*** boi*** which I bought With your very own fingers or via AI?
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