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Post by Ton ⓉⓞⓃ on Mar 17, 2014 18:37:24 GMT
Ready for Pre-bidding
IN EDIT. Not immediately clear to me why they want this loan and didn't get it for the right length of time in the first place. I'll wait and see why when the full details come to hand. (It could be the recent bad weather?)
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j
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Post by j on Mar 17, 2014 21:33:49 GMT
Ready for Pre-bidding IN EDIT. Not immediately clear to me why they want this loan and didn't get it for the right length of time in the first place. I'll wait and see why when the full details come to hand. (It could be the recent bad weather?) I'm sure underwriting is the order of the day given loan size. Wonder how long till draw down?
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Post by Ton ⓉⓞⓃ on Mar 17, 2014 21:45:34 GMT
Ready for Pre-bidding IN EDIT. Not immediately clear to me why they want this loan and didn't get it for the right length of time in the first place. I'll wait and see why when the full details come to hand. (It could be the recent bad weather?) I'm sure underwriting is the order of the day given loan size. Wonder hoe long till draw down? How long's a piece of string?... I'm just being funny.
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j
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Post by j on Mar 17, 2014 21:52:07 GMT
I'm sure underwriting is the order of the day given loan size. Wonder hoe long till draw down? How long's a piece of string?... I'm just being funny. £6.6k worth of pre-bids already, but peanuts in the grand scheme of things
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Post by Ton ⓉⓞⓃ on Mar 17, 2014 22:03:17 GMT
How long's a piece of string?... I'm just being funny. £6.6k worth of pre-bids already, but peanuts in the grand scheme of things I was just wondering how you know the value of bids so far. Did you simply put in a bid and see what the total was lower than that bid, if that makes sense or is there some other way that I've not come across? IN EDIT. Or did you somehow manage to get your cursor onto the salami sliced tiny little bit of the Horseshoegraph so that it gave a tooltip with the value of pre-bids? Which is now at £6681
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j
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Post by j on Mar 17, 2014 22:24:15 GMT
£6.6k worth of pre-bids already, but peanuts in the grand scheme of things I was just wondering how you know the value of bids so far. Did you simply put in a bid and see what the total was lower than that bid, if that makes sense or is there some other way that I've not come across? IN EDIT. Or did you somehow manage to get your cursor onto the salami sliced tiny little bit of the Horseshoegraph so that it gave a tooltip with the value of pre-bids? Which is now at £6681 It was difficult given how thin the salami slice was but, yes, hovering the cursor will give you the current value of pre-bids 
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j
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Post by j on Mar 17, 2014 22:44:58 GMT
I was just wondering how you know the value of bids so far. Did you simply put in a bid and see what the total was lower than that bid, if that makes sense or is there some other way that I've not come across? IN EDIT. Or did you somehow manage to get your cursor onto the salami sliced tiny little bit of the Horseshoegraph so that it gave a tooltip with the value of pre-bids? Which is now at £6681 It was difficult given how thin the salami slice was but, yes, hovering the cursor will give you the current value of pre-bids ....and now over 9k in value
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j
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Post by j on Mar 19, 2014 11:44:48 GMT
Pledges now just over £25k!
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walktall7
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Post by walktall7 on Mar 19, 2014 12:31:29 GMT
Why does anyone need to pre-bid? In fact why would anyone bother to bid? This will need underwriting and the underwriters will need to sell on the secondary market to free their funds for next deal. I won't even bother to look at the deal until it goes on the secondary market. There will be plenty to go around as I fear the underwriters are getting a severe case of indigestion ... The Lender day might make a difference
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j
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Post by j on Mar 19, 2014 12:57:03 GMT
Why does anyone need to pre-bid? In fact why would anyone bother to bid? This will need underwriting and the underwriters will need to sell on the secondary market to free their funds for next deal. I won't even bother to look at the deal until it goes on the secondary market. There will be plenty to go around as I fear the underwriters are getting a severe case of indigestion ... The Lender day might make a difference We've all got high hopes for some of the announcements. Let's hope they don't disappoint.
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j
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Penguins are very misunderstood!
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Post by j on Mar 19, 2014 12:58:14 GMT
The Lender day might make a difference We've all got high hopes for some of the announcements. Let's hope they don't disappoint. PS within this last hour, another £3k was pre-bid, taking total to £28k+
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Post by jevans4949 on Mar 19, 2014 14:24:56 GMT
Why does anyone need to pre-bid? In fact why would anyone bother to bid? This will need underwriting and the underwriters will need to sell on the secondary market to free their funds for next deal. I won't even bother to look at the deal until it goes on the secondary market. There will be plenty to go around as I fear the underwriters are getting a severe case of indigestion ... You're probably right, but on the other hand pre-bidding costs you nothing. You don't have to deposit funds until 5 minutes before the auction starts, and you can pull out any time before then.
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Post by Ton ⓉⓞⓃ on Mar 19, 2014 15:17:37 GMT
This loan is so large there's little chance it won't go on the aftermarket if it ever gets that far so there no need to bother with it till then. Looking forward to seeing how AC can fix this. What prebidding for it now costs is opportunity to buy something else on AM if it takes too long to unprebid or even bigger opportunity cost if the auction starts without prewarning (which it does) I didn't twig that the auction can/will start without notice, so I'll be halving my pre-bids and buy the other half later. Also, as walktall7 said, we don't know what they're going to announce at Lenders Day...
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mikes1531
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Post by mikes1531 on Mar 19, 2014 22:11:48 GMT
What prebidding for it now costs is opportunity to buy something else on AM if it takes too long to unprebid ... I don't think this is the case. If you have cash available in your account, placing a pre-bid doesn't affect that. So if something appears in the AM the cash still is available to make a quick purchase. Unless... ...or even bigger opportunity cost if the auction starts without prewarning (which it does) This is the big risk I perceive. If I have cash in my account, either because I've deposited it or because I've received some repayments, then there's a chance that it could be put toward a pre-bid before I could stop the process by withdrawing the pre-bid. I would hope that AC wouldn't ever start an auction without giving us notice of when it was going to start well before the start time, but unless they've committed to a certain amount of such notice -- and AFAIK they haven't -- it is a risk. (I suppose it's a risk even if they have made such a commitment.) A lot more likely, however, is that I might be away from my PC or the internet for an extended period and not see -- or be able to react in time to -- the notice of the imminent auction start. [If I'm in an internet cafe, I'd happily look at the website to see what's happening, but I'd be reluctant to expose myself to potential fraudsters by signing in.] And even if I made unfunded pre-bids, there's a risk some money could come in unexpectedly and make the pre-bids funded without my knowledge. So I'd make pre-bids only when I'm worried that an offer might be filled by pre-bidders, or I know I won't be able to bid at the appropriate time myself. I don't think that's an issue with this loan.
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bugs4me
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Post by bugs4me on Mar 19, 2014 22:24:16 GMT
What prebidding for it now costs is opportunity to buy something else on AM if it takes too long to unprebid ... I don't think this is the case. If you have cash available in your account, placing a pre-bid doesn't affect that. So if something appears in the AM the cash still is available to make a quick purchase. Unless... ...or even bigger opportunity cost if the auction starts without prewarning (which it does) This is the big risk I perceive. If I have cash in my account, either because I've deposited it or because I've received some repayments, then there's a chance that it could be put toward a pre-bid before I could stop the process by withdrawing the pre-bid. I would hope that AC wouldn't ever start an auction without giving us notice of when it was going to start well before the start time, but unless they've committed to a certain amount of such notice -- and AFAIK they haven't -- it is a risk. (I suppose it's a risk even if they have made such a commitment.) A lot more likely, however, is that I might be away from my PC or the internet for an extended period and not see -- or be able to react in time to -- the notice of the imminent auction start. [If I'm in an internet cafe, I'd happily look at the website to see what's happening, but I'd be reluctant to expose myself to potential fraudsters by signing in.] And even if I made unfunded pre-bids, there's a risk some money could come in unexpectedly and make the pre-bids funded without my knowledge. So I'd make pre-bids only when I'm worried that an offer might be filled by pre-bidders, or I know I won't be able to bid at the appropriate time myself. I don't think that's an issue with this loan. The historical situation with this size of loan is that underwriters will be required at some stage. Assuming this will be the case, although I've been proved wrong more than one occasion in the past, I will be waiting for the aftermarket and avoiding any drawdown delays. I know AC compensate for these delays but never to the level of returns available in the aftermarket which is fairly active ATM.
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