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Post by geraldine1210 on Jun 6, 2016 4:36:40 GMT
Anyone thoughts as to why we suddenly have such a large secondary market?
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Post by jackpease on Jun 6, 2016 4:47:17 GMT
A long overdue injection of realism that lending at 12% carries risk - and so people are not just blindly grabbing what they can?
Jack P
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Post by dodgeydave on Jun 6, 2016 4:51:41 GMT
Maybe a few investors are now running scared ?
Its mainly the older stuff that is up for sale
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Post by geraldine1210 on Jun 6, 2016 5:13:39 GMT
Sadly I suspect as the amount on sale grows, the more people will be desperate to sell.
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Post by geraldine1210 on Jun 6, 2016 5:15:17 GMT
It might be a good time for a positive announcement about the defaulted loan, in order to restore confidence.
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Post by geraldine1210 on Jun 6, 2016 5:21:04 GMT
Some of the more sort after lots now seem to be moving.
The old faithfuls like Symbio, Belrose, Stockpot hanging around at usual.
Edit -
Movement had started, with balance dropping to around 97K. Now back IP to around 114k
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lofty
Posts: 101 
Likes: 104
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Post by lofty on Jun 6, 2016 6:34:14 GMT
I wonder if a couple of hit hitters have over-ordered on the two recent loans, and now don't have the funds to clear. Hence a dump of their older loans to cover their positions?
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
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Post by sqh on Jun 6, 2016 6:39:52 GMT
Anyone thoughts as to why we suddenly have such a large secondary market? Loan PBL020 may have awoken some nervous nellies. But I think the main reason is, it's the first time we have had "the cancel sale" mechanism after substantial new loans (103 & 104) have gone live. In the past I didn't sell a loan if someone already offered it for sale, now I'm offering lots of loans for sale after buying loads on the SM early this morning. When by balance is back to zero, I will cancel my other sales.
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sl75
Posts: 2,092
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Post by sl75 on Jun 6, 2016 7:36:59 GMT
Anyone thoughts as to why we suddenly have such a large secondary market? Loan PBL020 may have awoken some nervous nellies. But I think the main reason is, it's the first time we have had "the cancel sale" mechanism after substantial new loans (103 & 104) have gone live. In the past I didn't sell a loan if someone already offered it for sale, now I'm offering lots of loans for sale after buying loads on the SM early this morning. When by balance is back to zero, I will cancel my other sales. So if someone wants to buy as many as possible of your loan parts, they'd better get their purchases lined up ready in order to complete in rapid succession before you have time to cancel the others...?
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Post by Deleted on Jun 6, 2016 8:56:42 GMT
I do not see at all anything 'large' or unusual happening.
Any working secondary market should have sales going on all the time from people diversifying and rebalancing their portfolios against newer people entering new/other loans.
Besides PBL20 (which is a separate matter), the size of the available market is tiny as ever, compared to the money out on loan on the network, so definitely no panic visible.
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treeman
Member of DD Central
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Post by treeman on Jun 6, 2016 9:39:22 GMT
Yes, nothing surprising - Sunday night / Monday morning after a reasonable amount goes live on Friday afternoon.
People leaving it to the last minute to clear the -ve balance, for whatever reasons.
No longer able to list a chunk of over-bidding holdings which would shift immediately.
Not wanting to list much long-time remaining stuff.
Recent events make -ve or short-time remaining stuff less attractive ........
New dynamics.
Just maybe the 7 day rule will rein in the over-bidding a bit.
No panic.
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Post by geraldine1210 on Jun 6, 2016 10:31:51 GMT
It all seems to have settled.
I want worried, just curious.
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nush
Member of DD Central
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Post by nush on Jun 6, 2016 10:53:21 GMT
nothing to do with the brexit polls then. i think some are getting the jitters.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Jun 6, 2016 12:34:02 GMT
Loan PBL020 may have awoken some nervous nellies. But I think the main reason is, it's the first time we have had "the cancel sale" mechanism after substantial new loans (103 & 104) have gone live. In the past I didn't sell a loan if someone already offered it for sale, now I'm offering lots of loans for sale after buying loads on the SM early this morning. When by balance is back to zero, I will cancel my other sales. So if someone wants to buy as many as possible of your loan parts, they'd better get their purchases lined up ready in order to complete in rapid succession before you have time to cancel the others...? Yep, I only had time to cancel 2 of them because some were part sold. Ended up with a cash surplus, which has been added to, by repayment of PBL53. I might think twice next time.
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jimbob
Member of DD Central
Posts: 317
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Post by jimbob on Jun 6, 2016 12:50:33 GMT
Picked up some PBL72  |
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