|
|
Post by 2wolfbag2 on Jun 4, 2016 13:40:39 GMT
I wonder how many investors were regularly 'guilty' of investing without funds, then selling immediately the next day to collar the 'free' interest. The email said some investors. I wonder if it was closer to most investors. In the current environment, excepting the red loan, where there is so much activity and it seems to be for the most part a sellers market, I would have thought that SS would have been aware that people would game the system - the only down part being that they are actually paying the interest rather than the borrower or the seller. Its a nice system being able to borrow to remain fully funded and personally I quite enjoy being "fully funded" for the most part. Its the only platform I am aware of that provides this service. I do however query exactly what action SS make if someone manages to maintain a negative balance for a prolonged period - snappy emails to the lender aside demanding payment and threats to close the account etc - or would they enforce random sales or holdings until equity is restored or what?? Has anybody actually experienced the retribution - Just curious
|
|
SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Jun 4, 2016 13:56:22 GMT
They have said that simply cancel the most recent purchases (no interest paid)
|
|
sam i am
Member of DD Central
Posts: 697
Likes: 555
|
Post by sam i am on Jun 4, 2016 14:43:46 GMT
I didn't get a chasing email today. I'm sure in the past they have been sent out on a Saturday.
Anyway, I'll be back on Monday at 00:01. I predict a riot.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jun 4, 2016 14:47:39 GMT
I wonder how many investors were regularly 'guilty' of investing without funds, then selling immediately the next day to collar the 'free' interest. The email said some investors. I wonder if it was closer to most investors. In the current environment, excepting the red loan, where there is so much activity and it seems to be for the most part a sellers market, I would have thought that SS would have been aware that people would game the system - the only down part being that they are actually paying the interest rather than the borrower or the seller. Its a nice system being able to borrow to remain fully funded and personally I quite enjoy being "fully funded" for the most part. Its the only platform I am aware of that provides this service. I do however query exactly what action SS make if someone manages to maintain a negative balance for a prolonged period - snappy emails to the lender aside demanding payment and threats to close the account etc - or would they enforce random sales or holdings until equity is restored or what?? Has anybody actually experienced the retribution A be a bit of a balancing act for SS as ones with no money in the account there be able to shut easily but it be the medium investors who were gaming the system that they would have to be careful over as yes they were cheating but they still probably had a significant investment into SS and they would not want to lose that.
|
|
|
|
Post by portlandbill on Jun 5, 2016 8:44:36 GMT
I wonder how many investors were regularly 'guilty' of investing without funds, then selling immediately the next day to collar the 'free' interest. The email said some investors. I wonder if it was closer to most investors. not me, i always pay up straight away, or sell something else immediately.
|
|
|
|
Post by geraldine1210 on Jun 16, 2016 14:37:16 GMT
It seems a long time since I posted this thread.
If the seven day rule hadn't come in, I suspect a number of investors would have been caught out with loans they couldn't fund.
|
|
