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 Mar 8, 2016 10:13:28 GMT
Yes the interest might get reversed later in the process, we don't really know exactly what we are looking at. But the loans I was referring to were sold within two days of being acquired so there is no doubt in my mind that they were not paid for and were sold to clear the negative balance. It is hard to imagine someone transferring the funds to pay for a loan acquired on INPL and then selling it immediately. It's very easy to imagine this. They invest (say) £1000 in the first loan they see, and pay for it. The next day, they see another loan they like, and buy £500 of this, selling £500 of the first loan to pay for that. The day after that, they see yet another loan they like, and buy (say) £300 of this, selling £150 of each of the first 2 loans. In the history, for the first loan, you'll see 3 loan parts - the original now appears to be for only £350, and the other two are for £500 and £150, and sold within 2 days of being acquired. Isnt this exactly what we have been suggesting new investors to do in times of limited SM activity. Fund one loan then redistribute. Doesnt really require much imagination.
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Post by pepperpot on Mar 8, 2016 10:28:29 GMT
I got to the right page, but it's the links within that page that don't work... Well they do, but you'd need the log-in details of the account that holds the part you're attempting to sell, which kinda scuppered my dastardly plan a bit.   (for the avoidance of doubt, I'm glad that's the case, my own parts are precious and I didn't want someone flogging them for me, so I tested the possibility)
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webwiz
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Post by webwiz on Mar 8, 2016 10:43:56 GMT
It's very easy to imagine this. They invest (say) £1000 in the first loan they see, and pay for it. The next day, they see another loan they like, and buy £500 of this, selling £500 of the first loan to pay for that. The day after that, they see yet another loan they like, and buy (say) £300 of this, selling £150 of each of the first 2 loans. In the history, for the first loan, you'll see 3 loan parts - the original now appears to be for only £350, and the other two are for £500 and £150, and sold within 2 days of being acquired. Isnt this exactly what we have been suggesting new investors to do in times of limited SM activity. Fund one loan then redistribute. Doesnt really require much imagination. All within 48 hours? Might happen occasionally but if you look at the sold lists you will see many examples.
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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 Mar 8, 2016 10:56:47 GMT
Isnt this exactly what we have been suggesting new investors to do in times of limited SM activity. Fund one loan then redistribute. Doesnt really require much imagination. All within 48 hours? Might happen occasionally but if you look at the sold lists you will see many examples. Currently or historically? Wouldnt surprise me in times of scarcity on SM that people werent grabbing stuff when they could and then dumping it if something better subsequently appeared later. Is it particularly focussed around interest payments? I have been known to grab a loan part to invest interest then move it on quickly when a better permanent home appeared. How much is related to PF gaming? I can envisage many scenarios for short term churn. One of the attractive things about SS is how reactive to circumstances you can be but obviously leaves it more open to abuse. SS seem to be addressing this but hopefully not with a detrimental effect.
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sl75
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Post by sl75 on Mar 8, 2016 10:57:45 GMT
Maybe we should ask @shanectheman if he kept his interest  ( see here) I didnt. So, in essence, it's a user interface problem - the way the data is presented to end users makes them THINK they're getting credited with interest to which they're not entitled... ... and some subset of users intentionally trigger it. ISTM that the best way to discourage this would be to fix the UI (and if necessary add a database field or table to support it) - explicitly show users which loans they have not yet paid for, and DON'T show interest as accruing on those loans. At any moment, the total value of all loans that are shown as being paid for cannot exceed the account balance.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 11:29:05 GMT
Sorry, but have I missed something. Have we got a self confessed cheater commenting on these boards....... 
@shanectheman made an innocent mistake and it resulted in his account showing £1.64 instead of pennies (he is only practicing with £100 in his account). I recommend you read the link in my post before accusing a member......
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beechside
Member of DD Central
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Post by beechside on Mar 8, 2016 11:45:29 GMT
Like many others, I think INPL is a real USP of the SS platform. Being able to grab PF or dip into the SM is flexible and a real advantage, especially given the desire to hold loose funds in the best place.
However, I wouldn't be upset in the least were SS to pay interest only from the moment the purchase was funded. Sure, I might lose a few pence here and there but that's a small price to pay for the extra trust it gives to the platform.
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 11:48:55 GMT
Sorry, but have I missed something. Have we got a self confessed cheater commenting on these boards.......
@shanectheman made an innocent mistake and it resulted in his account showing £1.64 instead of pennies (he is only practicing with £100 in his account). I recommend you read the link in my post before accusing a member...... And I thought it was going to be this... p2pindependentforum.com/post/81344/thread
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Post by GSV3MIaC on Mar 8, 2016 12:47:31 GMT
When I get a moment I'll trawl through the live parts data to see how much of the various loans were sold within 5 days (seems reasonable compromise) of the initial offering .. that should give an interesting picture of how much 'gaming' of the prefunding allocations is causing parts to go to people who didn't really want them after all (and maybe also the users who had prefunding set, and forgot they had).
I guess the other interesting stat might be how much of a loan (% wise) is =ever= sold on the SM (add up the sold parts, so if summat gets sold twice it gets counted twice). Some loans seem to be much more closely held than others. I guess we could look at the BH size over time too (biggest loan part bought on day1 and still held). Ah, the joys of data mining..
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treeman
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Post by treeman on Mar 8, 2016 15:18:28 GMT
Tomorrow will be very interesting .......
Not only will we see how the DFLs get received (in the current state of confusion / uncertainty) but the investor appetite will be tested with the biggest daily offerings total yet - over £13M at current PF figs.
Short notice again too - less time to juggle funds.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 15:21:05 GMT
Tomorrow will be very interesting ....... Not only will we see how the DFLs get received (in the current state of confusion / uncertainty) but the investor appetite will be tested with the biggest daily offerings total yet - over £13M at current PF figs. Short notice again too - less time to juggle funds.
more complicated than that treeman The two DFLs will only be partly released (we think, maybe )
PBL50 is to "roll" into one of those DFLs (not sure what this means.....)
Also is PBL4 (A and/or B) set to be repaid, as part of the new DFL (we think, maybe)
WHERE THE HELL ARE YOU savingstream ........ 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 8, 2016 15:27:12 GMT
Well, I've prefunded them for a lot more than actually I want, based on the premise that I will only get a moderate unknown allocation from a very moderate unknown first tranche. ... to boldy go .... and stuff  |
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 8, 2016 15:28:48 GMT
" " Careful! You had your tablets today, Dude? Cup of tea time, methinks ... |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 15:30:11 GMT
You had your tablets today, Dude? Cup of tea time, methinks ... Brandy I'm sure you mean Brandy.... ..... Looks at watch..... Oh OK.... tea it is. With a splash of brandy.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 8, 2016 15:36:27 GMT
You had your tablets today, Dude? Cup of tea time, methinks ... Brandy I'm sure you mean Brandy.... ..... Looks at watch..... Oh OK.... tea it is. With a splash of brandy.B****r that! Waste of Brandy! Pah! (Unless you've got some basic cooking brandy in the kitchen). Ah! Seen other thread ... bouncing up and down seems to have woken SS up to the revolting masses.
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