|
|
Post by solicitorious on Feb 17, 2016 20:25:32 GMT
Same old scaremongering and straw man arguments.
No-one is suggesting abolishing the SM or significantly altering it even.
Just a slight tweak, that in itself can easily be tweaked again, if necessary, to address a manifest problem that - judging by the poll - over half of users are experiencing.
|
|
registerme
Member of DD Central
Posts: 6,624 
Likes: 6,437
|
Post by registerme on Feb 17, 2016 20:30:24 GMT
As a seller you will only have "easy access to your money" if there are willing and able buyers out there. To assume that this will always be the case is.... unwise. Personally I would like to be increasing my exposure on SS. Not because I count on SM liquidity for an exit, but because I am mainly a "buy and hold" investor. As it happens my SS investments are actually decreasing because a) I am unwilling to game the primary market system and b) I can't get enough invested via the secondary market - as it stands trying to invest via the SM simply isn't worth my time. It's a shame. I have truckloads of cash to invest in p2p, it will have to head in other directions. Hopefully this will change if the primary pipeline picks up, but given the increasing number of investors I don't necessarily expect this to be the case. EDIT: Note that I am not necessarily disagreeing with the likes of cooling_dude and highlandtiger etc, just pointing out that there are other valid perspectives as well. |
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 17, 2016 20:33:05 GMT
Same old scaremongering and straw man arguments. No-one is suggesting abolishing the SM or significantly altering it even. Just a slight tweak, that in itself can easily be tweaked again, if necessary, to address a manifest problem that - judging by the poll - over half of users are experiencing. Implementing a queuing system would not be a small tweak; it would require a lot of programming, and quite simply from Lendy Ltd point of view it is completely unnecessary Lendy Ltd is current easily getting the money for all its loans; so how does changing the SM help them?
|
|
|
|
Post by GSV3MIaC on Feb 17, 2016 20:33:27 GMT
Plus if the 'mad rush fastest finger first' is the best way to proceed, why did we decide to have an orderly queue for the initial auction?
|
|
|
|
Post by highlandtiger on Feb 17, 2016 20:33:54 GMT
I really think you misunderstand the primary reason the SM is there; it is there so that we have easy access to our money. Changing the SM in any way could risk that, and could also risk the platform if larger investors get spooked. I can't see how forming an orderly line for the next parts in any loan to become available, versus a mad riot whenever they're waved about, would jeopardise the SM's liquidity, tbh. If anything, the opposite. If you wanted out of a loan, and could see that there was £x unmet demand for that loan, but £0 for that, wouldn't you sell the one with demand? OK, so the thought of £0 demand for a loan - bungalow and yacht included - is, currently, laughable - but, as we keep being reminded, that may not always be the case. You start tinkering with the SM, putting in queues, or heaven forbid prefunding the SM, then it'll be a slippery slope to people wanting discounts before they will buy some of the older loans. Why are people determined to fix something that is not only not broken, but is working at a super efficient rate. Someone is obviously buying all the parts on the SM, it just isn't any of the people currently getting their proverbials in a twist. That I'm afraid is not SS's problem. They have a business model where they have a pool of people who can fund loans they give out within seconds, and the same pool of people can get out of these loans within seconds. ................................And people want SS to change that? Really? Just because people can't be bothered to build up their holdings slowly via prefunding, or putting some effort in hanging around the SM to pick up bits and pieces. This says a lot more about these people than it does about SS.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 17, 2016 20:39:24 GMT
People still don't get it. I despair, I really do.......  1. The SM is NOT primarily designed for people to up their investments. It is there solely to allow people to exit loans fast and whenever they want. In that respect it is working superbly and should never be changed. This is the description given by SS, and if you don't like it, well tough. Life's a bitch 2. No-one, and I mean no-one has the god given right to be able to invest as much as they want whenever they want. There is such thing as supply and demand, and yes some will try and game the system, and the odd one might be able to automate the system somewhat. But generally the system is as fair as it could be, first come first served. Its no different to people wanting to buy the latest gadget. If you turn up and the shop has sold out, are you really going to complain to the manager, "but I couldn't get here before you sold out, that's not fair, I want you to wait for me next time, wah wah"..... etc. Note to SS, Ignore all these people who do nothing but moan and whinge because they feel they have been slighted, because you havn't put them ahead of of everyone else. Carry on with what you are doing. You are doing a superb job, and hopefully all the complainers will disappear to another P2P company. After all, today's loan launches have showed that there are plenty of people more than happy getting what they can. I got a third of what I prefunded which tells me the loans were oversubscribed more than three times. If we can get rid of the whingers then you'll have even more happy customers getting a larger slice of the pie. I couldn't agree more with your second point. I think people with a lump sum of money think they have found the holy grail; "12%; what button do I press?". You can't expect an instant return; you've got to be patient and work at it. If you can't; then find a better platform. How about instead of SS you invest in Ratesetter? What's that you say; they only offer 6%, and you have to pay to get your money back early......... BTW highlandtiger I like your new avatar 
|
|
adrianc
Member of DD Central
Posts: 10,006
Likes: 5,139
Member is Online
|
Post by adrianc on Feb 17, 2016 20:42:47 GMT
Someone is obviously buying all the parts on the SM, it just isn't any of the people currently getting their proverbials in a twist. That I'm afraid is not SS's problem. *ding* Not quite... If fastest-finger is good for the SM, then why isn't it good for the PM? What was wrong with the way loans were launched before? <thinks back> p2pindependentforum.com/thread/3132/pbls-51-52-53
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 17, 2016 20:46:47 GMT
Someone is obviously buying all the parts on the SM, it just isn't any of the people currently getting their proverbials in a twist. That I'm afraid is not SS's problem. *ding* Not quite... If fastest-finger is good for the SM, then why isn't it good for the PM? What was wrong with the way loans were launched before? <thinks back> p2pindependentforum.com/thread/3132/pbls-51-52-53But we're not talking about the PM, we're talking about the SM  ! Where's that bottle of brandy.....
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Feb 17, 2016 20:50:38 GMT
Fractions of pennies in overdue loans which I already own? I think you are confusing platforms. This is SS not AC. No fractions of pennies here. Sorry. Make that either pennies, or fractions of pounds,
|
|
adrianc
Member of DD Central
Posts: 10,006
Likes: 5,139
Member is Online
|
Post by adrianc on Feb 17, 2016 20:54:38 GMT
But we're not talking about the PM, we're talking about the SM ! Oh, absolutely. They're so completely and utterly different. No relationship at all...
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 17, 2016 20:59:43 GMT
But we're not talking about the PM, we're talking about the SM ! Oh, absolutely. They're so completely and utterly different. No relationship at all... Who said that they're so completely and utterly different, and have no relationship at all...? You seem to be trying to shift the argument to include the PM, but it and the SM serve two different purposes PM is where we pick up our investments SM is where we get rid of our investments
|
|
spyrogyra
Member of DD Central
Posts: 386
Likes: 148
|
Post by spyrogyra on Feb 17, 2016 21:00:39 GMT
Demand is not driven by the SM itself but by the money lenders wish to invest. The SM could not become more or less liquid if there are queues for loan parts. It would affect the distribution only and the SM parts will go into the hands of those that have put money into their SS account in advance and patiently subscribed to the queue. Queues will show the level of liquidity at every moment, something beneficial for sellers as well.
|
|
|
|
Post by Deleted on Feb 17, 2016 21:03:14 GMT
|
|
adrianc
Member of DD Central
Posts: 10,006
Likes: 5,139
Member is Online
|
Post by adrianc on Feb 17, 2016 21:04:12 GMT
Oh, absolutely. They're so completely and utterly different. No relationship at all... Who said that they're so completely and utterly different, and have no relationship at all...? You seem to be trying to shift the argument to include the PM, but it and the SM serve two different purposes PM is where we pick up our investments SM is where we get rid of our investments Unless we also pick up investments on the SM, we can't get rid of them on the SM.
|
|
cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
|
Post by cooling_dude on Feb 17, 2016 21:04:33 GMT
Demand is not driven by the SM itself but by the money lenders wish to invest. The SM could not become more or less liquid if there are queues for loan parts. It would affect the distribution only and the SM parts will go into the hands of those that have put money into their SS account in advance and patiently subscribed to the queue. Queues will show the level of liquidity at every moment, something beneficial for sellers as well. Again you're confusing the SM for an easy way to invest your money. There is no reason for Lendy Ltd to change the system; so don't expect them to go and actually risk changing the bloody system 
|
|
!
