baz657
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Post by baz657 on Jun 16, 2015 17:47:42 GMT
Autobid picked up a piece of Cu****n A*****bic D*****ion P***t today...
which indicates an interest rate of 10% yet on the loan pages the rate of return is stated as 13%.
I've left this open buying solely because of the indicated return on the loan web page and I'll be a tad naffed orf if it's 3% less than advertised.
Edited to add:
Looks like it's been indicating this for a while and shame on me for not noticing earlier.
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Post by mrclondon on Jun 16, 2015 17:50:27 GMT
Autobid picked up a piece of Cu****n A*****bic D*****ion P***t today... which indicates an interest rate of 10% yet on the loan pages the rate of return is stated as 13%. I've left this open buying solely because of the indicated return on the loan web page and I'll be a tad naffed orf if it's 3% less than advertised. The yield has been raised temporarily on this one by 3% to 13% until the additonal legal charges are finalised when it will revert to the 10% .
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baz657
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Post by baz657 on Jun 16, 2015 18:10:26 GMT
Thank you mrclondon - it's been so long I totally forgot about that. That ^^^ was posted on 11th March. How much of an interim period was initially expected? Is this another one that's slipping out of control or is already a long way down the slippery slope? |
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tonyr
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Post by tonyr on Jun 16, 2015 22:24:07 GMT
Thank you mrclondon - it's been so long I totally forgot about that. That ^^^ was posted on 11th March. How much of an interim period was initially expected? Is this another one that's slipping out of control or is already a long way down the slippery slope? I made a fat-fingered mistake and quite a lot of people got £611.63 of this loan today (or less if that's what they set targets to be). To console myself about not properly checking the silly way AC set up the numbers, at least I have: 1) the reduction from 13% to 10% is long overdue, there may be family tensions or just legal delays but normally the paperwork doesn't take this long 2) when the reduction happens it'll be less desirable than a wind turbine loan as the AD plant has a less reliable income 3) the GEIA is so broken that it sold me a good proportion back immediately I do get the impression that AC should hire someone who knows both finance and computers.
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Post by chielamangus on Jun 17, 2015 12:28:10 GMT
3) the MLIA is so broken that it sold me a good proportion back immediately Cannot see how you came to this conclusion. However, you are fortunate to get back your "good proportion" immediately. I have just sold some of this and 143 different people managed to get a little bit at £1 or less. I doubt that the demand will be so strong when the interest rate does fall which surely must be soon even by the dilatory standards of the average solicitor.
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tonyr
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Post by tonyr on Jun 17, 2015 18:40:57 GMT
3) the MLIA is so broken that it sold me a good proportion back immediately Cannot see how you came to this conclusion. Easy - I just looked at my transaction history. What happens is that when the GEIA buys something like the AD loan it goes and sells it again and then buys it back again and then sells it again ad nauseum. So if other people want the loan then GEIA investments evaporate - I call this "Hawking Radiation" as the GEIA is supposed to suck everything in but in fact by selling and buying back (which you might expect to be zero sum) it infact distributes the parts to others instead. Unfortunately AC don't seem to care so the GEIA remains broken.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jun 17, 2015 18:57:27 GMT
Cannot see how you came to this conclusion. Easy - I just looked at my transaction history. What happens is that when the MLIA buys something like the AD loan it goes and sells it again and then buys it back again and then sells it again ad nauseum. So if other people want the loan then MLIA investments evaporate - I call this "Hawking Radiation" as the MLIA is supposed to suck everything in but in fact by selling and buying back (which you might expect to be zero sum) it infact distributes the parts to others instead. Unfortunately AC don't seem to care so the MLIA remains broken. ?? I'm confused by what you're saying here too. My MLIA doesn't behave like this - surely it only sells if you've got lower targets set than your holdings? - that's how mine behaves anyway, and I haven't heard anyone else complain about it since it first got brought in last Autumn. You wouldn't be talking about the GEIA instead would you? That would make sense of what you're saying to me - because I know people do complain about that behaving the way you suggest.
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Post by Ton ⓉⓞⓃ on Jun 17, 2015 23:31:59 GMT
Cannot see how you came to this conclusion. Easy - I just looked at my transaction history. What happens is that when the MLIA buys something like the AD loan it goes and sells it again and then buys it back again and then sells it again ad nauseum. So if other people want the loan then MLIA investments evaporate - I call this "Hawking Radiation" as the MLIA is supposed to suck everything in but in fact by selling and buying back (which you might expect to be zero sum) it infact distributes the parts to others instead. Unfortunately AC don't seem to care so the MLIA remains broken. Very funny about "Hawking Radiation", I think several Users, including me, have had this ramblin rose, I think Tony is saying where the system is constantly buying and then selling a very small amount of of one loan, for me it was only ever a penny or something. I just disabled the loan. I think Chris is aware but he's still frying bigger fish... but I see it may affect some peoples confidence in the whole thing.
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tonyr
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Post by tonyr on Jun 18, 2015 7:12:07 GMT
Easy - I just looked at my transaction history. What happens is that when the MLIA buys something like the AD loan it goes and sells it again and then buys it back again and then sells it again ad nauseum. So if other people want the loan then MLIA investments evaporate - I call this "Hawking Radiation" as the MLIA is supposed to suck everything in but in fact by selling and buying back (which you might expect to be zero sum) it infact distributes the parts to others instead. Unfortunately AC don't seem to care so the MLIA remains broken. ?? I'm confused by what you're saying here too. My MLIA doesn't behave like this - surely it only sells if you've got lower targets set than your holdings? - that's how mine behaves anyway, and I haven't heard anyone else complain about it since it first got brought in last Autumn. You wouldn't be talking about the GEIA instead would you? That would make sense of what you're saying to me - because I know people do complain about that behaving the way you suggest. Oh no - yes I messed up. I meant the GEIA. Now I wonder if editing the original post will cause more or less confusion....
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bugs4me
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Post by bugs4me on Jun 18, 2015 7:37:12 GMT
?? I'm confused by what you're saying here too. My MLIA doesn't behave like this - surely it only sells if you've got lower targets set than your holdings? - that's how mine behaves anyway, and I haven't heard anyone else complain about it since it first got brought in last Autumn. You wouldn't be talking about the GEIA instead would you? That would make sense of what you're saying to me - because I know people do complain about that behaving the way you suggest. Oh no - yes I messed up. I meant the GEIA. Now I wonder if editing the original post will cause more or less confusion.... That makes sense or more accurately it doesn't. The GEIA IMO is a weird critter and whilst I was dabbling in in it was always selling, buying, selling, etc the same penny part loans like mad. The whole thing was confusing to say the least and I never achieved 100% investment due to the 20% max holding rule. Even that self imposed GEIA rule though was broken and I finished up with 29% of a loan part which never balanced itself back to 20% even though it was frantically buying and selling mini parts of that particular loan. Eventually I cashed out - there were no opportunities available on the horizon unless someone suddenly decided to sell their holding of a green loan. Must confess I did find the whole thing confusing and never got to fathom things out. A few full moons ago there was possibly going to be a mk2 of the GEIA but nothing materialised.
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