blender
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Post by blender on Mar 27, 2015 20:28:17 GMT
Alleged £40 loan parts.
I have reduced the premium, eight left.
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Post by ranjeb on Mar 27, 2015 20:37:43 GMT
I appreciate caveat emptor but blow by blow accounts of passing over potentially toxic debt is low imho.
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blender
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Post by blender on Mar 27, 2015 21:26:31 GMT
Yes, you probably have a point Ranjeb, but this is a loan which is fully paid up and was just late with a payment, not toxic. I suppose the South Wales location makes it more low not to identify 7289.
Edit: now there are better offers than mine!
I will start another general thread.
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Post by goldservice on Mar 27, 2015 21:41:26 GMT
low? more low?
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chrisf
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Post by chrisf on Apr 23, 2015 17:19:34 GMT
When I was at school (back in the stone age according to my kids), I always seemed to have all the lessons I didn't like on Thursdays. Later I became a teacher and always hated my Thursday timetable. Now I'm retired I thought the Thursday 'curse' was over - but no Fracking Cowboys seem to have a 'default Thursday' policy. 2 today - ok only £33 ish in total but.... far too many defaults with Frying Catapults - still moving money to AC and FK - transparency is the word! Yes I think this Thursday thing is true, usually late afternoon. 2 for me today, 132 quid total.
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min
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Post by min on May 7, 2015 18:40:07 GMT
...Fracking Cowboys seem to have a 'default Thursday' policy. 2 today - ok only £33 ish in total but.... far too many defaults with Frying Catapults - still moving money to AC and FK - transparency is the word! Yes I think this Thursday thing is true, usually late afternoon. 2 for me today, 132 quid total. Two more today. Both originally A. (8883 & (6521+2295). Is anyone keeping a record of Flying Carpets defaults compared with expectations based on rating?
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TitoPuente
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Post by TitoPuente on May 12, 2015 14:57:40 GMT
It is mildly alarming to learn that the five weekly failures are all A and B.
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registerme
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Post by registerme on May 12, 2015 16:32:02 GMT
How large a sample size is required for any results to be significant?
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am
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Post by am on May 12, 2015 17:01:47 GMT
To compare default rates with projections you have to
1) take account of the average age of the loan book for each grade (as the expected default rate is given as per annum).
2) (if repaid loans are not included in the loan book) compensate for defaulted loans hanging around after the date they were due for repayment.
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Post by GSV3MIaC on May 12, 2015 17:14:02 GMT
IIRC FC don't give a default rate in loans per year, but rather in terms of capital loss .. so you also have to take account of when they fail (100% capital loss on a loan that fails before one payment, but <2% on one which fails after 59/60 payments made). Remember, there are lies, damn lies, and statistics (Mark Twain, iirc). ALL FC loans could fail at the last payment stage (100% Loan failure) and they could still meet the goals for A,B, C and C-, as long as they were 5 year or longer loans.
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registerme
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Post by registerme on May 12, 2015 17:27:41 GMT
I'll fire the entire loan book at a friend of mine, who spent six or seven years in the credit quant group at a major IB, to see what he makes of it. FWIW they (the credit quant group) turned round to the business in 2007 and said "we don't have enough data to model this properly, and we're extremely uncomfortable....". The point being, really, that they had a hell of a lot more data to work with than we do.
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min
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Post by min on May 14, 2015 17:07:58 GMT
It's Thursday! 6 pm on the dot - 2 more Flaky Confectionery loans gone bad. 4323 and 7028 in my case. Only £29 but wiped out the gains for the last week.  |
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jonno
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nil satis nisi optimum
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Post by jonno on May 15, 2015 10:35:52 GMT
It's Thursday! 6 pm on the dot - 2 more Flaky Confectionery loans gone bad. 4323 and 7028 in my case. Only £29 but wiped out the gains for the last week. Ditto. Farting Capybaras really are the pits.
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chrisf
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Post by chrisf on May 15, 2015 12:47:58 GMT
Best Thursday for a while for me, only one default for a measly 16 quid, but several positive comments on old defaults. 5386 (the one where the directors don't talk to each other any more!) is expected to have a 50% recovery payment today. I'll believe it when I see it. It was an early closer at 14.2%, so it was an easy one to be overexposed to (I am 0.35% exposed which is a bit higher than I aim for). I've got some bread in the toaster ready for the expected jam.
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min
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Post by min on May 28, 2015 17:56:36 GMT
2 this Thursday.Only £23 but still another bad Thursday on Flatulant Cowboys.
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