merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
Likes: 302
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Post by merlin on Oct 28, 2015 16:36:25 GMT
And another one bites the dust!
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Post by jackpease on Oct 29, 2015 6:46:47 GMT
Oh dear. Things brings my net returns down to 8.3%.
My experience with Assetz, Funding Knight and FC was that I found I couldn't spot the bad'uns at auction - as Rebs is relatively sedate to amuse myself I bung 30 or so on every auction - and i've ended up with that net 8.3%.
My question is - have those who picked and choosed between rebs loans *at auction* done any better?
When i look at the list of defaulting companies, there's nothing screaming out at me that they were more likely to default than anyone else?
Jack P
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Post by gaspilot on Oct 29, 2015 7:21:51 GMT
Oh dear. Things brings my net returns down to 8.3%. My experience with Assetz, Funding Knight and FC was that I found I couldn't spot the bad'uns at auction - as Rebs is relatively sedate to amuse myself I bung 30 or so on every auction - and i've ended up with that net 8.3%. My question is - have those who picked and choosed between rebs loans *at auction* done any better? When i look at the list of defaulting companies, there's nothing screaming out at me that they were more likely to default than anyone else? Jack P Well done Sir. Of the 49 businesses I've invested in at REBS, four have defaulted bringing my net down to 5.3%. I think the best way to make money is to do the opposite to me  .
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Oct 29, 2015 7:29:54 GMT
Jack P, I endorse your sentiments. However 8.3% is a lot better then putting you money in a building society.
The real test for REBS will be just how good they are at recovery. I have several "failures" with AC which if they were to go really bad would wipe out all my gains over the last three years and some. With FC I am looking at a little over 5% net after losses. With FS a few losses with good recovery so still around 10% net and with SS it is too early to judge. I fear some losses are the nature of the beast. High rates really do mean you must expect some losses. I will be happy if I average out at seven or eight percent net across the P2P domain.
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Post by jackpease on Oct 29, 2015 7:41:22 GMT
Jack P, I endorse your sentiments. However 8.3% is a lot better then putting you money in a building society.
Mean't to say i am happy with my 8.3% obtained by NOT picking and choosing - as opposed to my dismal net returns eg 4% on FC where i tried to pick and choose! Jack P
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Post by captainconfident on Oct 29, 2015 10:50:16 GMT
I've got 5.6k into Rebs and the scoreboard shows 15.7% net. However I've got a lot in Les Misrables and Le Dismal Investment Ltd. What is disturbing is that these fell over after a couple of payments, so I hadn't downsized.
From this, the obvious investment lesson is not to invest in businesses with French names.
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shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
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Post by shimself on Oct 29, 2015 14:04:11 GMT
Anybody understand what gave it an A rating?
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Post by captainconfident on Oct 30, 2015 11:27:37 GMT
To put the record straight, Le Dismal Investment Ltd have just paid their loan up to date.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
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Post by sqh on Oct 30, 2015 11:49:01 GMT
To put the record straight, Le Dismal Investment Ltd have just paid their loan up to date. I am fairly confident that this one will be OK after reading the update in the discussion tab - equitable charge. Just bought more at 22%. Edit: 21% still available.
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Post by captainconfident on Oct 30, 2015 12:13:00 GMT
Yes, I mopped up some parts at 22% too. In for a penny...
There is some security. I see why I took a position in this loan in the first place, which is not usually the case when I look at my Fancy Cakes loans in trouble.
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markr
Member of DD Central
Posts: 766
Likes: 426
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Post by markr on Nov 7, 2015 20:11:09 GMT
I'm doing something similar, getting a bit of each loan, the amount varies but always less than £50, and my rate is now 8.0% so quite similar to yours. I was stung though with a £100 part I bought very early to diversify that went bad when I had about £80 of capital remaining.
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Post by Financial Thing on Nov 24, 2015 15:47:38 GMT
My strategy was to stay away from new loans and only buy SM loans that had been paid on time for several months with zero late payments. You pay a premium but doesn't matter as interest rates are still high and the defaults are minimal. Working well so far, only experienced one default.
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