ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330 
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GBBA
May 12, 2016 20:42:11 GMT
Post by ilmoro on May 12, 2016 20:42:11 GMT
Well, someone unleashed the tiger! I've a page a a half of buys from today and it still seems to be going. Even my GEIA has got in on the action and had some buying. Yep mine too, fully invested except for a bizarrely small amount that cant even be displayed in numbers. I think I understand how it works now & why it wont buy loans even if they are eligible and available. Should probably add Chris comments on three alogorithms to the useful info post I suppose.
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bababill
Member of DD Central
Posts: 529
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GBBA
May 13, 2016 0:08:19 GMT
Post by bababill on May 13, 2016 0:08:19 GMT
I am still 80% uninvested :-( System's not stuck for me though as some very small purchases were made overnight. ilmoro. I reread the algorithms and still don't really understand the same.. can you explain further? |
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jonah
Member of DD Central
Posts: 2,031
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GBBA
May 13, 2016 4:52:16 GMT
Post by jonah on May 13, 2016 4:52:16 GMT
Another 3 loans which are probably eligible targeting today, with a total of around 0.75m. If those do draw down today, I would hope for another nice buying day hopefully filling up GBBA accounts a little more.
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duck
Member of DD Central
Posts: 2,880
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GBBA
May 13, 2016 5:15:44 GMT
Post by duck on May 13, 2016 5:15:44 GMT
Yes, yesterday appears to have been a good GBBA day for my wife. I dumped £500 into her account (a totally unencumbered gift for tax purposes) and that was eaten along with the couple of hundred that resulted from the repayment .... fully invested 'which is nice'  Obviously I don't know how much others are trying to invest but she had 3 purchases over £50 and one over £100 which is a welcome relief from 1p purchases! |
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jonah
Member of DD Central
Posts: 2,031
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GBBA
May 13, 2016 17:54:38 GMT
Post by jonah on May 13, 2016 17:54:38 GMT
Mine is now also 100% again. GEIA was also hungry today.
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GBBA
May 16, 2016 19:57:27 GMT
Post by trevxe on May 16, 2016 19:57:27 GMT
Don't know what's going on with my account then. New AC user, dropped a couple of grand into GBBA account a few days back and so far it's invested 70p of it.
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nush
Member of DD Central
Posts: 396
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GBBA
May 17, 2016 12:42:06 GMT
Post by nush on May 17, 2016 12:42:06 GMT
nothing happening in my account either, cash is no longer getting reinvested.
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gnasher
Member of DD Central
Posts: 207
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GBBA
May 19, 2016 12:27:31 GMT
Post by gnasher on May 19, 2016 12:27:31 GMT
Added another £2000 yesterday, and £1500ish was invested within hours. Interested to see what it was in I had a look at the transactions - it was all M Care Home (165) - now that is a loan and indeed a sector that I am somewhat wary of. I have just a small slice in my MLIA. Now I know it is supposed to be a PF protected black box affair, but even so I would have expected more diversity.
So that prompts a question. If AC P2P lending heads south and the PF is used up and losses start to accrue, are these losses shared equally between all GBBA account holders, as would happen with say RS I understand, or do we each suffer the losses on the loans that happen to be sitting in our 'black box' at the time? i.e. loans that we have played no part in selecting. The former seems fair, the latter unfair and outwith the spirit of a black box investment.
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oldgrumpy
Member of DD Central
Posts: 5,087
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GBBA
May 19, 2016 12:40:20 GMT
Post by oldgrumpy on May 19, 2016 12:40:20 GMT
Added another £2000 yesterday, and £1500ish was invested within hours. Interested to see what it was in I had a look at the transactions - it was all M Care Home (165) - now that is a loan and indeed a sector that I am somewhat wary of. I have just a small slice in my MLIA. Now I know it is supposed to be a PF protected black box affair, but even so I would have expected more diversity. Ha!!! You can expect less diversity soon. #165 is due to pay back today or tomorrow Oh wot fun!
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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: 11,330
Likes: 11,549
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GBBA
May 19, 2016 12:42:41 GMT
Post by ilmoro on May 19, 2016 12:42:41 GMT
Added another £2000 yesterday, and £1500ish was invested within hours. Interested to see what it was in I had a look at the transactions - it was all M Care Home (165) - now that is a loan and indeed a sector that I am somewhat wary of. I have just a small slice in my MLIA. Now I know it is supposed to be a PF protected black box affair, but even so I would have expected more diversity. Well on the positive side #165 is due to payback imminently so in theory quite low risk. On the negative side #165 is due to payback imminently so your extra investment may prove short term 
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investibod
Member of DD Central
Posts: 288
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GBBA
May 19, 2016 14:42:35 GMT
Post by investibod on May 19, 2016 14:42:35 GMT
So that prompts a question. If AC P2P lending heads south and the PF is used up and losses start to accrue, are these losses shared equally between all GBBA account holders, as would happen with say RS I understand, or do we each suffer the losses on the loans that happen to be sitting in our 'black box' at the time? i.e. loans that we have played no part in selecting. The former seems fair, the latter unfair and outwith the spirit of a black box investment. My feeling is that accounts like GBBA should be black box. Risk of a default would be shared equally among all investors (RS style) and in fact there is no reason why you should know in which loans your slice of the pot is actually invested. (probably not a popular opinion here). However, what I think actually happens is that each individual sub-account is treated completely separately. If there is an issue with one of the loans in which your slice is invested, then you and other investors with a slice of that loan have to take the hit; and hope the PF will step in. So I feel it may be the worst parts of the 2 extremes. You have the risk without the control. Does this stop me investing in the GBBA and GEIA? No, but I would like to get confirmation regarding whether my beliefs are correct. I will not tag Chris as I think he should be allowed to enjoy the rest of his holiday, but maybe he will give us some information when he returns.
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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: 11,330
Likes: 11,549
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GBBA
May 19, 2016 14:45:38 GMT
Post by ilmoro on May 19, 2016 14:45:38 GMT
So that prompts a question. If AC P2P lending heads south and the PF is used up and losses start to accrue, are these losses shared equally between all GBBA account holders, as would happen with say RS I understand, or do we each suffer the losses on the loans that happen to be sitting in our 'black box' at the time? i.e. loans that we have played no part in selecting. The former seems fair, the latter unfair and outwith the spirit of a black box investment. My feeling is that accounts like GBBA should be black box. Risk of a default would be shared equally among all investors (RS style) and in fact there is no reason why you should know in which loans your slice of the pot is actually invested. (probably not a popular opinion here). However, what I think actually happens is that each individual sub-account is treated completely separately. If there is an issue with one of the loans in which your slice is invested, then you and other investors with a slice of that loan have to take the hit; and hope the PF will step in. So I feel it may be the worst parts of the 2 extremes. You have the risk without the control. Does this stop me investing in the GBBA and GEIA? No, but I would like to get confirmation regarding whether my beliefs are correct. I will not tag Chris as I think he should be allowed to enjoy the rest of his holiday, but maybe he will give us some information when he returns. IRC chris has previously stated that the these accounts cant be black box because of regulatory requirements.
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Post by crabbyoldgit on May 19, 2016 16:34:47 GMT
And as at present the trading between members of the geia and gbba to enable proper diversification does not yet work and if losses are not shared equally between members, if you were over heavy, ie over 20% of your portfolio in one bad loan your losses could be heavy and you would not even know your exposure. It is the reason i am out of the gbba and 80% out of the geia so far. Sorry to winge on about this again but the schemes at present i think do not operate in the manner discribed in the proposal document provided by AC. I know Chris has program changes in the fire to correct this but it needs to be implemented soon as possible.
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mikes1531
Member of DD Central
Posts: 6,453
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GBBA
May 20, 2016 1:47:55 GMT
Post by mikes1531 on May 20, 2016 1:47:55 GMT
Added another £2000 yesterday, and £1500ish was invested within hours. Interested to see what it was in I had a look at the transactions - it was all M Care Home (165) - now that is a loan and indeed a sector that I am somewhat wary of. I have just a small slice in my MLIA. Now I know it is supposed to be a PF protected black box affair, but even so I would have expected more diversity. I expect this was the result of a lot of #165 investors doing what I did this week. When I learned that repayment was imminent, I decided not to wait for it but to try to sell my parts if I could. I was successful and, as I and others reported here in the forum, my statement ended up with literally thousands of sale transactions, many of which were parts that only could be described as micro-shrapnel (such as 0.00000000000000000000199999999999...). I expect those tiny parts were going into GBBAs. I did what I did because I expected that when the £3.3M repaid from #165 arrived in investors' accounts it would end up being redeployed into any loan that had units available and that there'd be very few parts available afterwards. If I wanted to redeploy my #165 proceeds, I thought I'd be better off trying to do so before the hordes had funds to redeploy. So far that hasn't happened, so perhaps I needn't have done this.
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ianj
Member of DD Central
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GBBA
Jun 13, 2016 7:15:56 GMT
Post by ianj on Jun 13, 2016 7:15:56 GMT
Yesterday the GBBA made four seperate (small) sales of my holding in #154. As I have made no withdrawal request, and the repayment scheduled for yesterday is delayed, my presumption is that this is a consequence of the interest rate dropping to 0, contavening eligibility rules. Should this be happening chris ? As my current holding in #154 represents over 8% of my current GBBA investment, and with another 6% already stitting idle following repayment of #165, I'd rather this didn't continue. I'm not sure how much longer my withdrawal instinct can be suppressed! EDIT: The interest rate on #154 has now reverted to 13%. On positive note, the GBBA has made a purchase in said lone. Unfortunately, the purchase was for <1% of yesterday's sales, and the £133+k that was available earlier has all gone!  |
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