AC Lender Day March 22nd!

Very much appreciate the three videos, thanks!

Regarding the sneak-preview of Auto-Invest: When this is switched on, how do lenders find out what it's been doing while they weren't looking?

Will there be a separate log of "I sold X because of rule Y to buy this loan part Z" as chris would say, or will it purely be a case of :- stare at your statement and work out the transactions

[If so, can you flag these transactions as Auto-Invest based, not manual?]

For those of us who keep an eye on what loan parts we have etc. independently of the website, this would be helpful. As it is, if something moves, it's usually easy enough to see what happened. (Prebid->Bid->Accepted changes, loan parts bought/sold are only as a result of a manual intervention currently). But Auto-invest would change that.

I'm also thinking that numerous people have had the early experience with Funding Circle, that ends with the phrase "... and Funding Circle lent all my money to one borrower/to only C grade/at the wrong rate/wrong lump size" because they had no idea what Auto-bid was quietly wreaking behind their back. Some kind of feedback of what happened and why might be helpful.

If Autoinvest can be told to sell excess exposure in one loan to fund purchases of others, does this lead to dead money in the holding account (due to the list-and-sale part happening, and then no purchase of other parts possible for days/weeks due to them not being available), or is there a clever trick in place so that a sale only happens IF everything aligns to allow the "chain" of transactions to complete.

I realize this chain may well cover multiple users trying to buy and sell, is that too hard to think about ?

Watching the videos, it's good to see there are still finance people out there with some ethics & integrity. It brings back some credibility & hope into the system & society in general. I couldn't count a single incident where a question was dodged or giving a direct answer was avoided, which was refreshing.

PS Any chance we could have the next one somewhere central in the country?! Does it make it logistically easier for more members to make it or is London the preferred location of the majority?

mikeb - There is a log of each change in state and action that takes place, although we've yet to put a screen together to show that to users.  I'll try and get something pieced together for Monday when the system finally launches (wasn't quite ready yesterday and would never launch a major change on a Friday!).  

I have thought about chaining but was worried about over engineering the system, especially as a first release, and didn't want manual bidders to miss out.  So at the moment the system will sell as fast as it can and buy as fast as it can, and whilst one can lead to the other in terms of freeing funds they are otherwise unlinked.  Hopefully as we grow there will be more overall activity on the aftermarket so those dead periods will be minimised.

Sounds like there will be no delay on the auto aftermarket sales, so small parts will be auto buy only.

Hey, next year, Manchester could become the new Edinburgh. Provided no more Balloons go up!

I hadn't watched them all either, perhaps have them behind the Login if they are already becoming out-of-date.

IN EDIT. I know this is the busiest day for the year, so not immediately.