|
Post by bracknellboy on Oct 25, 2015 10:58:33 GMT
Certainly doesn't make sense to try and invest big chunk quickly just to get diversification as you'll subsitutue quality for quantity. If you do want to get going, now's not a bad time as the SM has large choice on it due to TLCs liquiditating. Opportunities to get a varied portfolio quickly are rarely as good as this. However just make sure you do assess the loans as best you can.
I also don't entirely buy into the 'need a minimum of 75-100k on the platform. I think you should look at your p2p diversification in terms of your aggregate across all platforms you are involved in and be prepared to accept that as a consequence you may have one platform which appears to be worse peforming than others simply due to the fact that your duff loans had to fall somewhere. But nonetheless with minimum of £1k (on new loans: SM you can pick up smaller chunks than that on amortising loans) you certainly should be having that kind of value invested in toto across the platforms if you are staking £1k per position on TC.
I started out tentatively with TC and built my loan book up over time. Of course I was for some period under diversified as far as a TC only perspective goes.
And I've never taken on outsize positions just to snag bidding bonuses.
|
|
|
Post by chielamangus on Oct 27, 2015 12:49:35 GMT
Provided you have sufficient capital to have sufficient diversity - suggest £75,000 and you are prepared to put the time and have the skills to understand the loan descriptions I believe some loans on ThinCats has amongst the best risk reward ratios in P2B. Drawdown delays can normally be anticipated and where they occur because of the sponsors being unwilling to release the funds without the security being in place then that seems to be a strength rather than a weakness. There have been loans which have failed very early in their lives but there are also lenders who have avoided any defaults.
The current software is idiosyncratic but I have never found it to be materially wrong. Thanks to tybalt and the rest of you for your insights. I did try investing yesterday but ran into a number of problems: first, could not find any bank details to send my initial deposit to, nor any reference number to include. Emailed TC for this info but in the several hours before I got a reply I found an ancient email from nearly 2 years ago with the very details I was seeking. So made my deposit and expected to be able to bid within 2 hours (as stated on the website). Later, I get an email from TC with the bank details which are different from those I have used. TC explain that the old account is still open so the deposit will be picked up and Street will contact me with some questions just to make sure I am not a drugs baron. But I cannot invest until I have passed their test. I wait. And wait. And am still waiting. Meanwhile the loan I wanted to invest in has filled. The raison d'etre for the deposit has gone, so I requested my deposit be returned. And still I hear nothing, from anyone, TC nor Street. It's like an enormous black hole. All very frustrating. Cannot invest anything on TC or AC or SS, won't on FC, and all this cash is heading towards short term deposits with W or RS (because despite the fanfare over the cash account on AC, I've not yet been anywhere near getting any money into that account).
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Oct 27, 2015 13:53:38 GMT
The share prices of both P2PGI and VSL have fallen quite a bit in the last few days. Assuming the NAV hasn't fallen since the last announcement the premium has more or less gone. Of course they might have invested badly and the NAV is about to go down!
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Oct 28, 2015 3:36:17 GMT
chielamangus, I received the following advice from another forum a while back.. Thought I would just cut and paste the same with slight editing of content.
''If you send a payment, and then do a ‘Deposit Request’ TC credit your account within 2hrs, even though your payment may arrive as a BACS payment a couple of days later. .......
Just to set it out step by step You see a loan you like, you need to transfer funds in.
1 Log in to TC
2 Click on your name top right
3 select deposit request (boggle at the title but anyway)
4 type in the amount you intend to transfer in – taking care that you get the decimal point in the right place because there is some silly code which makes it so if you type 1 0 0 0 then instead of £1000 you actually write £10.00
5 change the date if you need to..
6 that’s it. A couple of hours later (weekends included I think, but not the small hours) somebody at TC will have added to your balance. You will be able to bid before the money actually lands in the account at Street/TC. I don’t know how much leeway TC will allow, if you make the deposit request on a Monday and say it will arrive Friday they might get sniffy, you could ask stuart@tincats what he can tolerate.
7 do not forget to actually tell your bank to make the transfer. You are able to remind yourself of the amount by clicking on the envelope symbol top right, then sent messages the message is entitled Make deposit"
|
|
|
Post by tybalt on Oct 28, 2015 7:07:16 GMT
The problem is that :
1. ThinCats had to switch to an Account dedicated as a Client Account which they did about 6 months ago. Hence Chielamagnus who used an old account reference at Street sent the money to the old account. 2. Chielamagnus may not have completed the registration process which would have given the new bank account details.
|
|
shimself
Member of DD Central
Posts: 2,560
Likes: 1,169
|
Post by shimself on Oct 29, 2015 13:51:04 GMT
chielamangus, I received the following advice from another forum a while back.. Thought I would just cut and paste the same with slight editing of content. That's ME!
|
|
|
Post by captainconfident on Jul 26, 2016 20:27:55 GMT
Credit where it is due - to my surprise a withdrawal I applied for yesterday afternoon is in my account lunchtime following day. Something has improved at TC/Streets. Well done there.
|
|