paulg
Member of DD Central
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Post by paulg on Aug 18, 2015 20:07:49 GMT
To err is human but p2p platforms are responsible for other people’s money and this is a recurring problem with SS. I remember a competition many years ago to come up with some modern variations on old proverbs. I think the winner was "To err is human, but isn't it divine?"  One of the runners-up was "To err is human, but to really foul things up you need a computer." savingstream seem intent on moving that one to its rightful position at the top of the table. I had 22 years experience in IT infrastructure support when I retired a year ago; I prepared thoroughly for this weeks new loans and spent most of yesterday and today glued to the SS website, only to be booted out as soon as the loans went live. After a frantic hour of trying to get back in I finally got a small bite of PBL053 - only to have it taken back off me when SS tidied up the over subscriptions! Am I P*****d off? I can't tell you how much! Some of you might think that I need to get out more, and after today I'd agree with every one of you. One thing's for sure, I won't ever look at investing though savingstream the same way again - but it was nice while it lasted. 
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Post by bollidear on Aug 18, 2015 20:12:36 GMT
Disgusting - took a 15 minutes break from trying to break in and everything gone (again - lost out on last one 50 (?) too). Why oh why send out the bloody email so all the rich b***ds can throw in their >£50k wads? Full marks to sites like FS who put a 24 hour limit on new bids and have servers that can cope. I would add MT to that who do exactly the same thing. Makes life so much easier...... Exactly what I suggested to SS today. MT got it right and it works......SS bought a new memory stick to cope with the demand on the server and it didn't work.... They took on my suggestion by ignoring it completely in their generic mass email response.....hey ho..... Just an interesting thought that's crossed my mind for people to consider. In the early days of RS, we had emails back within minutes from Rhydian for minor issues on small investments. We had emails at all hours from James at FC to queries and moans and even a response from Giles at Zopa. Daniel (CEO) at RBS called me directly at the weekend to apologise personally for issues on a bad loan and spent a great deal of time to explain challenges and what they are doing to address issues. Chandra at Yes-Secure ignored all communication as did Danesfield P2P and they both went bust..........I feel Deja-Vu with the approach of SS when faced with a cluster f*** and the stench of anecdote is in the air tonight.
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Post by ravado on Aug 18, 2015 20:30:12 GMT
I would add MT to that who do exactly the same thing. Makes life so much easier...... Just an interesting thought that's crossed my mind for people to consider. In the early days of RS, we had emails back within minutes from Rhydian for minor issues on small investments. We had emails at all hours from James at FC to queries and moans and even a response from Giles at Zopa. Daniel (CEO) at RBS called me directly at the weekend to apologise personally for issues on a bad loan and spent a great deal of time to explain challenges and what they are doing to address issues. Chandra at Yes-Secure ignored all communication as did Danesfield P2P and they both went bust..........I feel Deja-Vu with the approach of SS when faced with a cluster f*** and the stench of anecdote is in the air tonight. Yes I think SS need to start listening to their customers and responding positively with actions. I put my thoughts on Twitter. At least that made me feel better!
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Steerpike
Member of DD Central
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Post by Steerpike on Aug 18, 2015 20:46:25 GMT
I'm really going to hurt myself if SS don't stop shifting £1.3m worth of loans in minutes and letting people invest £50k or more in one lump instead of letting me bid what I want. They have been warned.
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Post by supernumerary on Aug 18, 2015 20:52:40 GMT
I'm really going to hurt myself if SS don't stop shifting £1.3m worth of loans in minutes and letting people invest £50k or more in one lump instead of letting me bid what I want. They have been warned. £3m in total coming soon, with two more loans in the pipe line. So more fun ahead for you!
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Post by Financial Thing on Aug 18, 2015 21:05:14 GMT
A waft of greed is lingering. It's only money.
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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 Aug 18, 2015 21:11:39 GMT
A waft of greed is lingering. It's only money. Aernt you a trifle warm?  Thought you turned up in full plate to do battle as an investors champion but on closer inspection it appears to be unseasonal knitwear.
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Post by Financial Thing on Aug 18, 2015 21:19:45 GMT
A waft of greed is lingering. It's only money. Aernt you a trifle warm? Thought you turned up in full plate to do battle as an investors champion but on closer inspection it appears to be unseasonal knitwear. Must admit, it's a bit balmy (and barmy) in this garb but looking cool is the #1 priority.
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Post by Financial Thing on Aug 18, 2015 21:21:42 GMT
a good scare like this mintos.lv/en/ might entice people to cool their jets with all this frantic race-investing. |
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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 Aug 18, 2015 21:53:52 GMT
Aernt you a trifle warm? Thought you turned up in full plate to do battle as an investors champion but on closer inspection it appears to be unseasonal knitwear. Must admit, it's a bit balmy (and barmy) in this garb but looking cool is the #1 priority. Ah, that explains the shades then 
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max
Posts: 75
Likes: 47
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Post by max on Aug 18, 2015 22:30:47 GMT
I read the full thread. I don't share most of the feelings. I'm really happy with savingstreamI guess their investment proposition is really good as compared with other p2p that explains so much want for their loans: 1) Instant accruing of interests upon investment 2) payment of interests on defaulted loan (on one occasion) 3) instant money transfer 4) discretionary buffer fund 5) segregated trust (coming soon) 6) 12% apr I cannot find any p2p offering all of the above. Or we are all here because of their sophisticated and hypnotic ads? No, I didn't get a bite this time, so what it's not the end of the world. They will give another gig soon. |
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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 Aug 18, 2015 23:42:44 GMT
Not impressed. Having actually managed to grab a small piece of one of the loans I now find my purchase has been reversed. Fair enough as the loan was overfunded, except the purchase made after mine hasnt been reversed & is actually larger than mine. Made a point of calculating the overfundng and it was entirely made up of purchases made after mine. Asked SS for an explanation, see if I get a response. No doubt another illogical function in their system.  |
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star dust
Member of DD Central
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Post by star dust on Aug 19, 2015 0:45:32 GMT
They will give another gig soon. The trouble with this approach is that if they don't fix the sever issues and institute loan caps and the economic dynamic doesn't change any time soon you'll be lucky to get in on the next one either, or the one after that or the one after that........ The imminent advent of the trust structure means I'll be wanting to be much more selective about which loans I hold longer term, but I still want to be able to get good diversification, with many of my existing ones repaying, a more intractable SM, and recent multiple failures to get into anything else, SS will effectively be de-investing me. I'm hoping it isn't the case, and six months ago I'd've come out in defence of SS when it was mooted, but whether it's deliberate or not it appears to me that longer term SS may not be a place for a smaller scale investor. Which is a great shame 'cause I believe it has been and could still be without too much effort, but they don't appear to be listening.
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Post by supernumerary on Aug 19, 2015 6:12:37 GMT
I read the full thread. I don't share most of the feelings. I'm really happy with savingstreamI guess their investment proposition is really good as compared with other p2p that explains so much want for their loans: 1) Instant accruing of interests upon investment 2) payment of interests on defaulted loan (on one occasion) 3) instant money transfer 4) discretionary buffer fund 5) segregated trust (coming soon) 6) 12% apr I cannot find any p2p offering all of the above. Or we are all here because of their sophisticated and hypnotic ads? No, I didn't get a bite this time, so what it's not the end of the world. They will give another gig soon. IMHO I think you are spot on with those comments. I agree with you.
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Aug 19, 2015 6:50:12 GMT
They will give another gig soon. I'm hoping it isn't the case, and six months ago I'd've come out in defence of SS when it was mooted, but whether it's deliberate or not it appears to me that longer term SS may not be a place for a smaller scale investor. Which is a great shame 'cause I believe it has been and could still be without too much effort, but they don't appear to be listening. The average amount invested is about £10K, but there may be some inactive investors in which case the average for active investors will be higher. Certainly I have seen individual bids of £50K so there are a few deep pockets.
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Thought you turned up in full plate to do battle as an investors champion but on closer inspection it appears to be unseasonal knitwear.
