jonno
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nil satis nisi optimum
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Post by jonno on Dec 9, 2015 10:55:15 GMT
Well I've pledged the maximum £2000 that we were told would be taken account of. My judgement of the fairness (or otherwise) of this new process will hinge on what size of loan part that gets me. With 45 mins left, the auction is closing on 400% funded so, if the allocation process is fair, I'm expecting ball-park £500 ... But is that really "fair" if the 400% contains multi-thousand pledges which if funded will significantly reduce the proportion available to everyone else? If the £2000 pledge limit had been implemented as originally designed then it may well have reduced the pledge total to,say 200%, which would then have got you a "fairer" £1000.
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jonah
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Post by jonah on Dec 9, 2015 11:12:02 GMT
Getting closer to a 4:1 ratio. Which, personally, is perfect as that's what I've pledged assuming.
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pom
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Post by pom on Dec 9, 2015 11:15:49 GMT
Well I've pledged the maximum £2000 that we were told would be taken account of. My judgement of the fairness (or otherwise) of this new process will hinge on what size of loan part that gets me. With 45 mins left, the auction is closing on 400% funded so, if the allocation process is fair, I'm expecting ball-park £500 ... It ought to be more than that if those that have ignored the £2000 limit are pegged back they should be. Well I'm probably "stupid" in that I only pledged what came out of the maturing loan + extra repayments lying around rather than the full 2k as I really couldn't be bothered to transfer more in to make it up to 2k just to play games, so will probably end up with significantly less (depending on the possibly bias mentioned towards those of us in the previous loan). Will I bitch about what I receive tho? Nope. Whilst it might then be a bit of a pain to work out what to do with any excess as I'd have liked to get it re-invested it's still less hassle than fastest finger. Rome and a fully invested p2p portolio wasn't built in a day, so it can go somewhere else til the next ABL deal comes along.
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stevio
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Post by stevio on Dec 9, 2015 11:22:00 GMT
Well I've pledged the maximum £2000 that we were told would be taken account of. My judgement of the fairness (or otherwise) of this new process will hinge on what size of loan part that gets me. With 45 mins left, the auction is closing on 400% funded so, if the allocation process is fair, I'm expecting ball-park £500 ... It ought to be more than that if those that have ignored the £2000 limit are pegged back they should be. Well I'm probably "stupid" in that I only pledged what came out of the maturing loan + extra repayments lying around rather than the full 2k as I really couldn't be bothered to transfer more in to make it up to 2k just to play games, so will probably end up with significantly less (depending on the possibly bias mentioned towards those of us in the previous loan). Will I bitch about what I receive tho? Nope. Whilst it might then be a bit of a pain to work out what to do with any excess as I'd have liked to get it re-invested it's still less hassle than fastest finger. Rome and a fully invested p2p portolio wasn't built in a day, so it can go somewhere else til the next ABL deal comes along. Fastest finger didn't work, but this didn't either - so I don't see it as any better, still an unworkable system
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pom
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Post by pom on Dec 9, 2015 11:23:37 GMT
Well I'm probably "stupid" in that I only pledged what came out of the maturing loan + extra repayments lying around rather than the full 2k as I really couldn't be bothered to transfer more in to make it up to 2k just to play games, so will probably end up with significantly less (depending on the possibly bias mentioned towards those of us in the previous loan). Will I bitch about what I receive tho? Nope. Whilst it might then be a bit of a pain to work out what to do with any excess as I'd have liked to get it re-invested it's still less hassle than fastest finger. Rome and a fully invested p2p portolio wasn't built in a day, so it can go somewhere else til the next ABL deal comes along. Fastest finger didn't work, but this didn't either - so I don't see it as any better, still an unworkable system This only "didn't work" if you assume a right to be able to invest as much as you want in any loan that comes along. Sorry but supply/demand aint always going to allow that...and I don't think ANY platform has got anywhere near right first time Edit - not that ANY of us actually knows how this actually worked yet
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Steerpike
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Post by Steerpike on Dec 9, 2015 11:26:52 GMT
Well I've pledged the maximum £2000 that we were told would be taken account of. My judgement of the fairness (or otherwise) of this new process will hinge on what size of loan part that gets me. With 45 mins left, the auction is closing on 400% funded so, if the allocation process is fair, I'm expecting ball-park £500 ... It ought to be more than that if those that have ignored the £2000 limit are pegged back they should be. Well I'm probably "stupid" in that I only pledged what came out of the maturing loan + extra repayments lying around rather than the full 2k as I really couldn't be bothered to transfer more in to make it up to 2k just to play games, so will probably end up with significantly less (depending on the possibly bias mentioned towards those of us in the previous loan). Will I bitch about what I receive tho? Nope. Whilst it might then be a bit of a pain to work out what to do with any excess as I'd have liked to get it re-invested it's still less hassle than fastest finger. Rome and a fully invested p2p portolio wasn't built in a day, so it can go somewhere else til the next ABL deal comes along. Yep, I'm in the "stupid" category as well, I decided what I wanted (a bit less than the 2k max) and pledged that.
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paulgul
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Post by paulgul on Dec 9, 2015 11:31:43 GMT
Fastest finger didn't work, but this didn't either - so I don't see it as any better, still an unworkable system I don't understand what all the griping is about, as far as I'm concerned, if I get anything then its better than it was before. I only pledged what I want (£500) but if I get £100 then its an improvement on the last couple of loans.
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jonno
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nil satis nisi optimum
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Post by jonno on Dec 9, 2015 11:33:46 GMT
Look pom / Steerpike ; as you well know your behaviour is far from stupid;it is a rational decision and sensible decision based on your circumstances and perceptions. What IS stupid however is announcing a reasonably well balanced compromise to the hated fastest finger, and then half way through the process "changing one's mind" to something far less so, for a reason that has,thus far, not been forthcoming.
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stevio
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Post by stevio on Dec 9, 2015 11:35:06 GMT
Fastest finger didn't work, but this didn't either - so I don't see it as any better, still an unworkable system This only "didn't work" if you assume a right to be able to invest as much as you want in any loan that comes along. Sorry but supply/demand aint always going to allow that...and I don't think ANY platform has got anywhere near right first time Edit - not that ANY of us actually knows how this actually worked yet FS and MT limit initial investment for 24hrs - this is what we thought was happening here, limited to £2k As you said, no one but ablrateandy is sure how this worked out, yet. But there was a definite lack of clarity, which is not good
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pom
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Post by pom on Dec 9, 2015 11:38:53 GMT
This only "didn't work" if you assume a right to be able to invest as much as you want in any loan that comes along. Sorry but supply/demand aint always going to allow that...and I don't think ANY platform has got anywhere near right first time Edit - not that ANY of us actually knows how this actually worked yet FS and MT limit initial investment for 24hrs - this is what we thought was happening here, limited to £2k As you said, no one but ablrateandy is sure how this worked out, yet. But there was a definite lack of clarity, which is not good If you think anyone will actually GET more than 2k then your understanding is very different from mine.....the only grey area as far as I'm concerned is whether people could bid OVER 2k to try and get UP to 2k when scaled down. As for lack of clarity, yeah things can be tricky to clarify when new processes are tried, in the scheme of things its a minor irritant....lets not forget that ablrateandy is actually trying to make things fairer here!!
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alanp
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Post by alanp on Dec 9, 2015 11:40:46 GMT
It's an evolving process - Continuous Improvement in action you might say.
I agree there was definite confusion around the process and the reasons for the change but there is no "best way" that a platform can implement to keep everyone happy all of the time.
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stevio
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Post by stevio on Dec 9, 2015 11:41:32 GMT
Fastest finger didn't work, but this didn't either - so I don't see it as any better, still an unworkable system I don't understand what all the griping is about, as far as I'm concerned, if I get anything then its better than it was before. I only pledged what I want (£500) but if I get £100 then its an improvement on the last couple of loans. I am sure you would be happy with 20% of your pledge, but the concern has been that depending on how much people have pledged more than £2k, could reduce your pledge down to say 5%, would you be so happy with £25? Particularly knowing that others might have got 5% of £50k pledged and got £2500?
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pom
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Post by pom on Dec 9, 2015 11:42:24 GMT
Look pom / Steerpike ; as you well know your behaviour is far from stupid;it is a rational decision and sensible decision based on your circumstances and perceptions. What IS stupid however is announcing a reasonably well balanced compromise to the hated fastest finger, and then half way through the process "changing one's mind" to something far less so, for a reason that has,thus far, not been forthcoming. Circumstances and perceptions? No not really... more a weigh up of effort/hassle/benefit of trying to game the system. A portfolio can be built quite easily over time without fixating too much on any one loan.
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stevio
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Post by stevio on Dec 9, 2015 11:45:35 GMT
FS and MT limit initial investment for 24hrs - this is what we thought was happening here, limited to £2k As you said, no one but ablrateandy is sure how this worked out, yet. But there was a definite lack of clarity, which is not good If you think anyone will actually GET more than 2k then your understanding is very different from mine.....the only grey area as far as I'm concerned is whether people could BID over 2k to try and get up to the max when scaled down. As for lack of clarity, yeah things can be tricky to clarify when new processes are tried, in the scheme of things its a minor irritant....lets not forget that ablrateandy is actually trying to make things fairer here!! This is the problem, no one but ablrateandy seems to understand the 'new' process that was implemented A fair system was proposed, everyone was happy - the irritant is when it's changed last minute and non one understands what it has been changed too
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jonah
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Post by jonah on Dec 9, 2015 11:48:13 GMT
Well, 396.256% is a really nice complement for Abl... it suggests people really rate this loan and want in. I'm sure that ablrateandy will be beavering away to work out the numbers. Personally I'm intrigued if we get a simple 1/4 or any other pledges get thrown out and the ratio gets higher. Thank you to the ablrate team for trying to improve on their offerings after the challenges of last week. This hasn't (so far!) been a perfect success but as long as the suggested review and evolution process takes place, hopefully next time will be a little closer etc etc.
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