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Post by wiseclerk on Apr 16, 2016 9:44:07 GMT
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Post by Deleted on Apr 16, 2016 10:04:11 GMT
Well, the article should be improved with some very basics like:
- who can sign up? (uk residents? eu residents? everyone?)
- what currency do Finbee support (only euros? will the lender take the exchange risk? Do they suggest the use of smart forex companies?)
- tax implications on investing abroad
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Post by wiseclerk on Apr 16, 2016 10:39:05 GMT
Hi @hor1997
it was not my first article (and an older one is linked), so my readers already knew these basics, but here you are:
- open to investors in the European Union & Switzerland - Lithuania is in the Eurozone. All loans are in Euro - taxation usually takes place at the place of residency of the investor according to the rules there (nothing Finbee specific) As P2P-Banking.com has a global readership, it is next to impossible to give details on taxation
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Post by Financial Thing on Apr 17, 2016 2:49:07 GMT
wiseclerk Thanks for posting the article. To me the risk levels of these Euro p2p sites offering mouth watering returns seems in the ultra high red flag range...31% returns are going to fall foul at some point. There have been some very interesting economic situations arising recently that have some investment pro's warning of an dire economic disaster much worse than in 2008. If (many believe more of a case of when) this happens, platforms offering ultra high rates will be the first to fall. I would say buyer beware.
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Post by wiseclerk on Apr 17, 2016 8:14:07 GMT
Yes, this comes with a very high risk level. Both platform risk, as well as effects of changes in economical environment.
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crypt
New Member
Posts: 2
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Post by crypt on Sept 7, 2016 10:32:14 GMT
Yes, this comes with a very high risk level. Both platform risk, as well as effects of changes in economical environment. Bondora – its getting difficult to invest bigger amounts if you don’t want to scarifies diversification. It took me more than month to invest 5k eur split by 10 eur loans. Lately they introduce the possibility of investments in the secondary market using their portfolio manager it helped a bit to speed up investments. If anyone interested you can see my results across different European platforms. {link removed by mod} When calculating IRR I take into account how long it takes to move money to platform and how long it takes to be fully invested.
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shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
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Post by shimself on Sept 11, 2016 9:42:39 GMT
Yes, this comes with a very high risk level. Both platform risk, as well as effects of changes in economical environment. Bondora – its getting difficult to invest bigger amounts if you don’t want to scarifies diversification. It took me more than month to invest 5k eur split by 10 eur loans. Lately they introduce the possibility of investments in the secondary market using their portfolio manager it helped a bit to speed up investments. If anyone interested you can see my results across different European platforms. {link removed by mod} When calculating IRR I take into account how long it takes to move money to platform and how long it takes to be fully invested. I'm interested - sent PM
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Post by buttchopf23 on Nov 24, 2016 19:51:34 GMT
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Post by kilozulu on Nov 26, 2016 22:03:27 GMT
Two concerns about Finbee: 1) they have pretty small scale and the growth is not accelerating, thus I suspect they are operating at loss and the prospect of turning to profit is not evident. In such a case the team may decide to call it a day, when run out of initial equity. 2) the defaulted principal is 100k, the compensation fund is 22.7k. If compensation fund is fed only by a 1-2% contribution when a new loan is signed, it is pretty front-loaded, whilst the payments out to cover defaults are drawn out over time. Thus with weak growth the outpayments may overtake, if not already overtaken, incoming payments, and eventually drain the compensation fund.
Happy to hear other views on these two items!
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Post by buttchopf23 on Nov 27, 2016 19:38:38 GMT
nice thaughts, I will add mine
1) I tried to calculate a prognosis for the csf, thus I have calculated the monthly gain in volume, I do not have the figures on hand, will post them tomorrow, but they were increasing at a nice pace. I guess 3 Million Euro lent out in lithunia is as good as 10 mio in Estonia (given the weak economy compared to the other 2 baltics.
2) We know that 100k is in status default, but we do not know how much is recovered from that and we also dont know how many are paying although they are declared in default. I have one loan which was in default and the csf took over the payments, then the borrower paid one tranche and that went to the csf, loan was still in default status
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Post by petebutt43 on Jan 30, 2017 0:56:17 GMT
Just registering, but I am aspecial case as I reside outside the EU. Let's see what happens!
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Post by buttchopf23 on Feb 14, 2017 10:15:52 GMT
now with sme loans as well
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Post by wiseclerk on Apr 12, 2017 8:44:59 GMT
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Post by yoica on Apr 14, 2017 6:35:09 GMT
Wiseclerk, where did you find the amount in the compensation fund? Is it somewhere on their site or do you ask them each month?
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p2pmaster
investment is life.
Posts: 128
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Post by p2pmaster on Apr 14, 2017 6:38:05 GMT
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