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Post by ablrateandy on Oct 3, 2015 10:44:57 GMT
That's being worked on at the moment! Should shortly have the current amount in escrow listed in there.
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james
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Post by james on Oct 3, 2015 10:46:49 GMT
Excellent. My spreadsheet data entry thanks you.
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blender
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Post by blender on Oct 3, 2015 11:00:16 GMT
I am aware of "random" and illogical price-based purchasing activity ( james commented to me earlier this week as well). We provide AERs primarily to stop people making the "wrong" investment decision.... But some choose to ignore it! I can lead a horse to water..... If you get good returns on Funding Circle, you probably rely on seemingly irrational purchasing. But often it is just the difference between good enough and optimal.
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webwiz
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Post by webwiz on Oct 3, 2015 11:03:35 GMT
Can someone write an guide for dummies and have it pinned? I did see one posted somewhere but I can't find it now.
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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
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Post by ilmoro on Oct 3, 2015 11:20:49 GMT
Can someone write an guide for dummies and have it pinned? I did see one posted somewhere but I can't find it now. I think this what youre after here
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james
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Post by james on Oct 3, 2015 12:30:28 GMT
Ah, my "favourite" secondary market offer so far: a person willing to sell £266.39 of the original containers loan at 104.000% for a yield to the buyer of -7.639%. As has been suggested for other platforms there seems little point in accepting offers that have negative yield. because they provide a guaranteed loss for the buyer.
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registerme
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Post by registerme on Oct 3, 2015 12:47:53 GMT
Agreed, there should be come kind of trap / block on being able to sell or buy anything on a negative yield.
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Post by ablrateandy on Oct 3, 2015 13:06:46 GMT
I'd actually cancel any trade on a negative yield anyway if I saw it (and I keep a pretty close eye)
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webwiz
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Post by webwiz on Oct 3, 2015 15:42:21 GMT
Can someone write an guide for dummies and have it pinned? I did see one posted somewhere but I can't find it now. I think this what youre after hereMods can the guide be pinned please?
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Post by bracknellboy on Oct 3, 2015 16:53:39 GMT
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james
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Post by james on Oct 3, 2015 17:01:38 GMT
I think this what youre after hereMods can the guide be pinned please? That post is part of a big discussion so I've created a new topic just for the instructions: Secondary market simple instructions .
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stevio
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Post by stevio on Oct 3, 2015 18:48:45 GMT
Ah, my "favourite" secondary market offer so far: a person willing to sell £266.39 of the original containers loan at 104.000% for a yield to the buyer of -7.639%. As has been suggested for other platforms there seems little point in accepting offers that have negative yield. because they provide a guaranteed loss for the buyer. But I see that no one else has a lower offer, so its a little bit supply and demand, no one else is willing to offer for less so that is what the market is dictating We are also assuming that person was an original investor - alternatively they may have purchased on the secondary market at say 2%, so a 4% mark up is not so unreasonable.
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james
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Post by james on Oct 3, 2015 21:47:34 GMT
Ah, my "favourite" secondary market offer so far: a person willing to sell £266.39 of the original containers loan at 104.000% for a yield to the buyer of -7.639%. As has been suggested for other platforms there seems little point in accepting offers that have negative yield. because they provide a guaranteed loss for the buyer. But I see that no one else has a lower offer, so its a little bit supply and demand, no one else is willing to offer for less so that is what the market is dictating We are also assuming that person was an original investor - alternatively they may have purchased on the secondary market at say 2%, so a 4% mark up is not so unreasonable. The price is unreasonable for anyone who was to buy from them because that buyer is guaranteed to lose money. The seller's margin doesn't really matter when the buyer is guaranteed to make a loss. Supply and demand is fine but when the buyer is guaranteed to make a loss all it means is that the seller managed to exploit a mistake by the buyer. Which is why ablrateandy would use the clause in the contracts that allows Ablrate to correct mistakes to cancel the transaction. He might also just cancel the offer to sell, something that is routinely done by the folks at mintos until their software blocks making such offers.
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registerme
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Post by registerme on Oct 3, 2015 21:54:21 GMT
james, in the abstract I agree with you, but there are examples, in maturer markets, of people buying negative yielding products. So, whilst I agree with you that there should be blocks in place to prevent this on ablrate (and any other p2p platform), I don't equate that with a blanket "it be wrong" position.
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Post by ablrateandy on Oct 3, 2015 22:02:06 GMT
I won't cancel a bid or offer at a negative yield (or unusually high yield). However if I saw a trade occur that I felt was at completely the wrong price I would almost certainly contact the buyer or seller to ensure that they were happy with what they have done. There can be reasons to buy at a negative rate or to sell at an unusually high yield in some cases. I don't want the secondary market to be a place where people prey upon those less experienced. Small arbitrages are fine, but that's about it.
We do have the right to cancel trades but it is for very extreme cases. As it is, I have spoken to three or four users where I think they were putting up a "bad price" and talked them through how things work.
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