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Post by meledor on Sept 2, 2015 17:52:20 GMT
I was just glad to finally get a piece of a small loan. But I think the method used by SS today is clearly the fairest. SS is not going to succeed if it alienates the 'big hitters' by in effect restricting them to the large loans. It was probably brought home yesterday and today by the reaction to PBL54 and all this talk of not investing in the swamp. Which is fine - we each make the decisions we are comfortable with. But SS is clearly going to have to rely on the 'big hitters' here (and no I am not a 'big hitter').
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mack
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Post by mack on Sept 2, 2015 18:07:25 GMT
You read the same version but interpreted it totally differently (wrongly) to everyone else. SS it's just not on to change things and lack clarity as it looks unprofessional. Am not a small investor with SS so bit disappointed with the way things are developing. There was no warning at all loan was going live today where this has happened in the past in the updates. And there has not been an update as promised for yesterday?? I suggest that there are several individuals posting on this thread who consider themselves to be “small” investors when in actual fact they are throwing several thousands of pounds into prefunding and are now sulking because they didn’t read the prefunding model correctly and didn’t get what they expected. No serious investor can be bothered whether they get a slice or not. There are other investments out there with similar rates. Its about the company maintaining a professional attitude which means giving out correct information and following through on that. If you don't have strict protocols and procedures, what is the attitude going to be with regards to the company's due diligence? They can get to the size of a city fund manager but do you seriously think this approach would work in the city? SS reads this forum so am hoping they take notice as I like their product but they need to take their time and not rush to get too big too quick and alienate investors.
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sam i am
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PBL55
Sept 2, 2015 18:10:24 GMT
Post by sam i am on Sept 2, 2015 18:10:24 GMT
Whilst we appreciate the point, in reality it just wouldn't work. Remember this allocation system will only apply for loans below the amount in the PF pot and there are many loans coming through. You are missing the point...you have changed the rules WITHOUT letting us know. And at the risk of labouring the point - SS is still advertising the original allocation rules on the website. I suggest they change or remove this immediately. But for me the biggest issues here are (and again repeating others): - The proportional allocation model will have a bizarre effect on how investors will try to judge their pre-funding. - It's difficult to know how to pre-fund without any knowledge of which loan is coming up Maybe its a case of sticking in a huge amount of PF and then afterwards decide how much you want (if any), send a BACS for that amount and tell SS to take back the rest. In effect SS invited us to do that in a previous posting. This might have worked with the original allocation model (where most people would be sensible) but is unlikely to work if everyone ups their PF based on a proportional allocation. It would soon become a huge admin nightmare and I suspect SS would rapidly withdraw this facility.
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Steerpike
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Post by Steerpike on Sept 2, 2015 18:38:28 GMT
With this loan, as with previous recent loans, there was more cash than loan.
With this loan I got some, with previous recent loans I didn't.
I understand that the allocation algorithm was different to that advertised but I'm not feeling upset, slighted, or even significantly misled.
Pretty good change in my book, particularly while the SM still sucks up overdue loan parts in seconds...
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jonah
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PBL55
Sept 2, 2015 19:13:01 GMT
Post by jonah on Sept 2, 2015 19:13:01 GMT
I have no issues with the equal percentage approach. Personally I suspect I would be better off with the approach outlined previously but either model has positives.
i can't understand how SS don't see the loss of trust having this confusion is going to cause. Losing investors is easy... I suspect another platform is demonstrating that currently.
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Post by supernumerary on Sept 2, 2015 19:34:56 GMT
1: Did you get a portion of the loan? 2: Would you have got a portion of the loan if the PF was not in place? 3: Do you understand that this is just one single loan and that there is at least £10m coming through the pipeline in September, not all yet on the website. 4: We need the 'big hitters' as well as 'the smaller investors' in order to scale the business significantly. There are only 4300 investors so far and the pockets of the majority are small. The BH's will enable us to reach the £150m+ figure next year, we do not know the £ value of each individual small investor. 5: Everything we do, some are going to love or loath. We will do everything we can to make the majority happy, but sometimes expediency and simplicity wins the day. KISS. 6: Yes there are mistakes with the admin and tech and sometimes we change our minds when a better idea presents itself. We aim to keep you informed as much as possible but the model relies on providing quick funding to our borrowers. 7: We do not know which loans will come through next, they are in legals for a few weeks then all of a sudden the lawyers are ready to go. For instance, we have just been told Brent Farms wants to go live on Friday, so that will be released tomorrow probably. Thank you Saving Stream for providing some new interesting loans for lenders like myself to invest in and obtain 12% pa. I appreciate your efforts.
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jfm
Member of DD Central
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PBL55
Sept 2, 2015 19:40:47 GMT
Post by jfm on Sept 2, 2015 19:40:47 GMT
For myself, I am not too disappointed. Everybody got some allocation which was one point of PF. It was always a possibility that the allocation would not be the maximum bid. So the gripe seems to be that some others got a better allocation than originally expected. The actual rules should be published officially as well as on this forum.
If the loan was published 24 hours before allocation to get a more orderly market (perhaps?), would that be an unacceptable delay for the borrowers who are not guaranteed instant fulfillment?
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registerme
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Post by registerme on Sept 2, 2015 19:46:11 GMT
I think the biggest gripe is not the change in methodology, but that it wasn't communicated (particularly after SS did communicate the previous proposed methodology so clearly, and got so much buy in for it).
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j
Member of DD Central
Penguins are very misunderstood!
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PBL55
Sept 2, 2015 20:03:06 GMT
Post by j on Sept 2, 2015 20:03:06 GMT
I think the biggest gripe is not the change in methodology, but that it wasn't communicated (particularly after SS did communicate the previous proposed methodology so clearly, and got so much buy in for it). That's what a few of us having shouting about in this thread but it just seems to be misinterpreted. And either having PF individually per loan or giving notice (24hrs?) of which loans will be released in order to be able to have selectivity in turning on/off PF if you want to pt out of certain loans.
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sam i am
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PBL55
Sept 2, 2015 20:05:28 GMT
Post by sam i am on Sept 2, 2015 20:05:28 GMT
I didn't participate in today's loan because it was not the one I was expecting. But on the other hand the Dow Jones has just closed up 1.83% so I can't grumble.
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ianj
Member of DD Central
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PBL55
Sept 2, 2015 20:38:05 GMT
Post by ianj on Sept 2, 2015 20:38:05 GMT
I fared better than I thought I would for a loan of this size, so this is not a gripe. And no, I'm not a BH (although I cleared the boundary three times in one over many moons ago)  It seems to me that SS have clearly failed to manage expectations. I've mentioned one possible solution elsewhere already, but in light of the 'interest' in PF generated by the first loan affected, I feel it bears repetition..... For every loan that appears in the list of Pipeline Loans, and at any given point in time, from inclusion through to 'going live', SS will be possession of the following data . Size (even if only initially approximate) of loan. . Each lenders PF setting, if any. . Total of PF currently set. . Knowledge of the PF algorithm which is current being applied. Armed with the above, it should be possible to calculate and display, for every loan in the Pipeline, how a lenders PF setting would translate into a loan allocation. Even allowing for the fact that the PF can be reset at will, we would have a better idea of where we stand than we currently do. A cynic might suggest that, perhaps, that savingstream don't want us to know! Perhaps they might like to comment. |
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sam i am
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PBL55
Sept 2, 2015 20:48:54 GMT
Post by sam i am on Sept 2, 2015 20:48:54 GMT
I fared better than I thought I would for a loan of this size, so this is not a gripe. And no, I'm not a BH (although I cleared the boundary three times in one over many moons ago) It seems to me that SS have clearly failed to manage expectations. I've mentioned one possible solution elsewhere already, but in light of the 'interest' in PF generated by the first loan affected, I feel it bears repetition..... For every loan that appears in the list of Pipeline Loans, and at any given point in time, from inclusion through to 'going live', SS will be possession of the following data . Size (even if only initially approximate) of loan. . Each lenders PF setting, if any. . Total of PF currently set. . Knowledge of the PF algorithm which is current being applied. Armed with the above, it should be possible to calculate and display, for every loan in the Pipeline, how a lenders PF setting would translate into a loan allocation. Even allowing for the fact that the PF can be reset at will, we would have a better idea of where we stand than we currently do. A cynic might suggest that, perhaps, that savingstream don't want us to know! Perhaps they might like to comment. I can't really see how this would help. As you said yourself we can reset our PF at will so everyone would just then alter their PF to get the allocation they wanted which would then just change the calculations in a never-ending cycle. i would be happy just knowing basic facts about each loan and knowing the order loans are going to be released.
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sam i am
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PBL55
Sept 2, 2015 20:54:42 GMT
Post by sam i am on Sept 2, 2015 20:54:42 GMT
7: We do not know which loans will come through next, they are in legals for a few weeks then all of a sudden the lawyers are ready to go. For instance, we have just been told Brent Farms wants to go live on Friday, so that will be released tomorrow probably. The generous me says, thank you SS for the advanced notice. The sneaky me says, this is a small loan, stick in £100k PF to ensure a reasonable allocation. The cynical me says Land with planning, Scotland £2.54m will be sneaked in first.
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beechside
Member of DD Central
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Post by beechside on Sept 2, 2015 21:32:50 GMT
1: Did you get a portion of the loan? 2: Would you have got a portion of the loan if the PF was not in place? 3: Do you understand that this is just one single loan and that there is at least £10m coming through the pipeline in September, not all yet on the website. 4: We need the 'big hitters' as well as 'the smaller investors' in order to scale the business significantly. There are only 4300 investors so far and the pockets of the majority are small. The BH's will enable us to reach the £150m+ figure next year, we do not know the £ value of each individual small investor. 5: Everything we do, some are going to love or loath. We will do everything we can to make the majority happy, but sometimes expediency and simplicity wins the day. KISS. 6: Yes there are mistakes with the admin and tech and sometimes we change our minds when a better idea presents itself. We aim to keep you informed as much as possible but the model relies on providing quick funding to our borrowers. 7: We do not know which loans will come through next, they are in legals for a few weeks then all of a sudden the lawyers are ready to go. For instance, we have just been told Brent Farms wants to go live on Friday, so that will be released tomorrow probably. Thank you Saving Stream for providing some new interesting loans for lenders like myself to invest in and obtain 12% pa. I appreciate your efforts. I'm with Supernumerary here. I missed out on the other recent offerings but we have plenty coming down the tracks. I got some this time around and I'm hugely grateful that I did. We are exploring new ways of doing business and I think SavingStream are honourable people trying to please us all in a dynamic market. As investors, we are gaining hugely by the efforts of SavingStream and, sure, there are risks but analyse, diversify and invest wisely. If the teething problems of PF are not to your liking, please don't play but let's not kill off the golden goose. I'm guessing that there are a lot of people with sore heads tonight on the SS team. They don't deserve the vitriol that some are dishing out. Of course, your mileage may vary, as our American cousins say  )
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ianj
Member of DD Central
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Post by ianj on Sept 2, 2015 21:40:49 GMT
I fared better than I thought I would for a loan of this size, so this is not a gripe. And no, I'm not a BH (although I cleared the boundary three times in one over many moons ago) It seems to me that SS have clearly failed to manage expectations. I've mentioned one possible solution elsewhere already, but in light of the 'interest' in PF generated by the first loan affected, I feel it bears repetition..... For every loan that appears in the list of Pipeline Loans, and at any given point in time, from inclusion through to 'going live', SS will be possession of the following data . Size (even if only initially approximate) of loan. . Each lenders PF setting, if any. . Total of PF currently set. . Knowledge of the PF algorithm which is current being applied. Armed with the above, it should be possible to calculate and display, for every loan in the Pipeline, how a lenders PF setting would translate into a loan allocation. Even allowing for the fact that the PF can be reset at will, we would have a better idea of where we stand than we currently do. A cynic might suggest that, perhaps, that savingstream don't want us to know! Perhaps they might like to comment. I can't really see how this would help. As you said yourself we can reset our PF at will so everyone would just then alter their PF to get the allocation they wanted which would then just change the calculations in a never-ending cycle. i would be happy just knowing basic facts about each loan and knowing the order loans are going to be released. Well, at least we'd know were we stood when we've all set out PF to £100k! 
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