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Post by chris on Sept 17, 2015 14:02:08 GMT
Yes they have a weighted buying algorithm but that's irrelevant if that doesn't affect you in real world usage. Trying to buy into harder to get loans over a longer period of time is where you'll lose out a little, so instead of a 50/50 split with the GBBA in that instance you'll end up with a roughly 2/1 split.. We will just have to agree to disagree - I see that as grossly unfair & inequitable but AC clearly don't - I can accept that is a corporate choice. If all trades ended up being 2/1 in favour of the accounts vs the MLIA then I'd agree with you that it would be grossly unfair. That seems to be where you're starting and finishing your thinking though. In the real world a lot of loans will be 100% MLIA, or 80/20 in favour of the MLIA, or 75/25. I don't see those kinds of ratios as being unfair.
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Post by chris on Sept 17, 2015 14:05:49 GMT
... In the current market perhaps that'll slow your investment a little bit if that's your primary method of investing funds. Well, that was my investment strategy. But if selling at a premium is coming then it's probably not going to be worthwhile for much longer, and I'll have to wait in the DrawDown queue for new loans. Still think it's best to see what happens in the real world, I don't think the impact will be anything like that being predicted.
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Post by Butch Cassidy on Sept 17, 2015 14:12:27 GMT
Well, that was my investment strategy. But if selling at a premium is coming then it's probably not going to be worthwhile for much longer, and I'll have to wait in the DrawDown queue for new loans. Still think it's best to see what happens in the real world, I don't think the impact will be anything like that being predicted. It already is impacting on those of us who rarely bought a new drawdown, this is the real world!
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Post by chris on Sept 17, 2015 14:13:43 GMT
Still think it's best to see what happens in the real world, I don't think the impact will be anything like that being predicted. It already is impacting on those of us who rarely bought a new drawdown, this is the real world!Give me an example. The only example you have given me so far was on a loan where there had been no trading at all.
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niceguy37
Member of DD Central
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Post by niceguy37 on Sept 17, 2015 14:16:05 GMT
Chris said: ... I don't think the impact will be anything like that being predicted. No, that's true. It might mean the departure of lenders, if they perceive that they are no longer treated fairly. But time will tell.
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Post by geoffrey on Sept 17, 2015 14:28:19 GMT
Folks, could we give Chris a break, please? He's on holiday, but you wouldn't know it from the way he's forced to answer hysterical-sounding questions about pyramid schemes, etc., and attempt to update code "remotely".
FWIW, most of my investments are in GBBA and GEIA, and like the MIA, it's currently very hard to invest money in these accounts. Over half of my money (topped up in recent days) in GEIA, and a third in GBBA is "awaiting investment", and only about a third of the uninvested funds have been swept into the QAA. It certainly doesn't feel like I'm being given priority over MIA investors in any of these accounts. The simple fact is that the entire site is saturated with funds waiting for a loan to come along.
So, while we're waiting, could we just let Chris have his holiday in peace? The IT systems seem to be working fine, and minor issues that don't affect people's funds can wait.
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Post by Butch Cassidy on Sept 17, 2015 14:34:02 GMT
It already is impacting on those of us who rarely bought a new drawdown, this is the real world!Give me an example. The only example you have given me so far was on a loan where there had been no trading at all. In general any platform that can't treat it's lenders fairly/equally is on a hiding to nothing IMO, but from my own portfolio I only hold 17 loans, of which only 10 are above shrapnel levels & 3 are significant. Until the last few weeks I have had no problem reinvesting my monthly income in topping up across those 17, often with regular shrapnel but infrequently chunky purchases; now a regular flow has become no more than a trickle & previously regular loans are infrequent or absent all together. I rarely buy new loans partly due to the poor drawdown forecasts & a lack of recent supply, so which accounts get preference or not is no great interest to me. I have recently withdrawn a 5 figure sum to invest in a competitor as the lack of investor focus & poor recent rates broke my resolve to support this platform as my priority investment vehicle. I believe in the platforms future & am soon to be a shareholder but I see no prospect of increasing or possibly even maintaining my current level of investment. What you refer to as "doom & gloom" predictions is my vision for the platform development & in 5 years time I will be interested to see who's idea is nearer the mark.
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Post by chris on Sept 17, 2015 14:40:21 GMT
Give me an example. The only example you have given me so far was on a loan where there had been no trading at all. In general any platform that can't treat it's lenders fairly/equally is on a hiding to nothing IMO, but from my own portfolio I only hold 17 loans, of which only 10 are above shrapnel levels & 3 are significant. Until the last few weeks I have had no problem reinvesting my monthly income in topping up across those 17, often with regular shrapnel but infrequently chunky purchases; now a regular flow has become no more than a trickle & previously regular loans are infrequent or absent all together. I rarely buy new loans partly due to the poor drawdown forecasts & a lack of recent supply, so which accounts get preference or not is no great interest to me. I have recently withdrawn a 5 figure sum to invest in a competitor as the lack of investor focus & poor recent rates broke my resolve to support this platform as my priority investment vehicle. I believe in the platforms future & am soon to be a shareholder but I see no prospect of increasing or possibly even maintaining my current level of investment. What you refer to as "doom & gloom" predictions is my vision for the platform development & in 5 years time I will be interested to see who's idea is nearer the mark. So these issues predate the algorithm changes. What you are describing is entirely down to the lack of loans available and nothing to do with the algorithmic changes you are maligning.
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mikes1531
Member of DD Central
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Post by mikes1531 on Sept 17, 2015 14:49:18 GMT
Until these developments it was possible to reinvest monthly income in existing loans no problem, albeit with random allocations, but now only the odd £1 of shrapnel every few days is invested. I don't seem to have this problem. I have a number of open 'Buy' orders and I'm picking up parts a lot faster than just "the odd £1 of shrapnel every few days". So far today, for instance, I've picked up 25 parts. Yes, I do get £1 parts, but I get enough of them, plus occasional larger parts, to keep my uninvested balance from growing significantly. Quite the contrary, actually, as every so often I have to top up my available cash. (The 25 parts my MLIA bought today come to a total of £78.19, which is more than enough to reinvest an average account's daily repayments.) Perhaps Butch Cassidy has a huge account with a very large amount of repayments to reinvest. Or perhaps they are a lot more selective than I when deciding which loans to put buy orders in for.
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mikes1531
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Post by mikes1531 on Sept 17, 2015 15:17:45 GMT
... In the current market perhaps that'll slow your investment a little bit if that's your primary method of investing funds. Well, that was my investment strategy. But if selling at a premium is coming then it's probably not going to be worthwhile for much longer, and I'll have to wait in the DrawDown queue for new loans. In the current situation, with lots of money in all accounts -- MLIA/GEIA/GBBA -- looking for a loan to invest in, I expect that the experience of Loan #174, which was absorbed completely at drawdown by buy orders entered before drawdown, will be typical for a while. An exception to this might be a huge loan drawing down or a loan that AC investors don't like the look of. I have no view on the latter, but with respect to the former, the list of upcoming loans suggests this is unlikely. Only two of the 12 loans listed are significantly larger than #174, and neither is as much as 50% larger than #174. I expect new money is still coming in to AC, and there are a few existing AC loans that might be redeemed in the near future, so I expect there to continue to be a bit of a supply shortage for a while longer. And even if there were to be an end to the supply shortage, I'd expect AC's response to be to unleash the marketers to sing the praises of the GBBA more widely. And that probably would bring in enough new money to create a new supply shortage. In short, if anyone wants to invest in new loans, IMHO it's going to be necessary to do it via pre-drawdown buy orders.
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