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Post by harvey on Jun 6, 2016 21:36:07 GMT
Perhaps this has been covered before on this forum but professional valuers always make it clear in their reports that their valuations are for their clients internal /personal use only and must not be published or handed out to third parties without their permission and must not be relied upon by third parties.
On saving stream they publish on their website the valuations which include these terms and disclaimers and the effect of that is that hundreds maybe thousands of unknown investors all over the place are reading the reports and relying on them and making investment decisions based on them.
Plus these valuers are having their reports and opinions scrutinised on a public forum like this - which is not something I would imagine many professional people would like.
Are we to assume that saving stream get special permission from the valuers to put their valuation reports on the internet and if so do we know if they pay a premium fee above the normal valuation fee for this privilege?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 6, 2016 21:40:50 GMT
It is a discussion that has come up in the past, but the concern is taken with a pinch of salt...
Savingstream does now require we log in, so the valuation reports aren't in the public domain. I do also note that some of the recent valuation reports are made out to Lendy Ltd & Saving Security Holdings Ltd; the later is us investors.
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Post by brianac on Jun 6, 2016 21:41:58 GMT
Perhaps this has been covered before on this forum but professional valuers always make it clear in their reports that their valuations are for their clients internal /personal use only and must not be published or handed out to third parties without their permission and must not be relied upon by third parties. On saving stream they publish on their website the valuations which include these terms and disclaimers and the effect of that is that hundreds maybe thousands of unknown investors all over the place are reading the reports and relying on them and making investment decisions based on them. Plus these valuers are having their reports and opinions scrutinised on a public forum like this - which is not something I would imagine many professional people would like. Are we to assume that saving stream get special permission from the valuers to put their valuation reports on the internet and if so do we know if they pay a premium fee above the normal valuation fee for this privilege? Whilst I don't know, I would imagine/have thought, that Lendy would give a "spec" when they commisiion a valuation, and that spec would include the valuations purpose and scope. Brian
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Post by harvey on Jun 6, 2016 21:47:43 GMT
It is a discussion that has come up in the past, but the concern is taken with a pinch of salt... Savingstream does now require we log in, so the valuation reports aren't in the public domain. I do also note that some of the recent valuation reports are made out to Lendy Ltd & Saving Security Holdings Ltd; the later is us investors. That's interesting, so in some cases the reports are basically addressed to all of us.
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Post by earthbound on Jun 6, 2016 22:26:41 GMT
Savingstream does now require we log in, so the valuation reports aren't in the public domain. I would dispute this.. signing up to SS does not require anything more than a email address and a password, and SS's simple checks, i would say that the valuation reports are available to anyone who wants to spend a few minutes signing up to SS. edit..it only takes one person to sign up and its then in the public domain.
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Post by dualinvestor on Jun 7, 2016 7:10:26 GMT
Perhaps this has been covered before on this forum but professional valuers always make it clear in their reports that their valuations are for their clients internal /personal use only and must not be published or handed out to third parties without their permission and must not be relied upon by third parties. On saving stream they publish on their website the valuations which include these terms and disclaimers and the effect of that is that hundreds maybe thousands of unknown investors all over the place are reading the reports and relying on them and making investment decisions based on them. Plus these valuers are having their reports and opinions scrutinised on a public forum like this - which is not something I would imagine many professional people would like. Are we to assume that saving stream get special permission from the valuers to put their valuation reports on the internet and if so do we know if they pay a premium fee above the normal valuation fee for this privilege? The disclosure is a rule more breeched than observed, I think all valuers know their reports will be widely distributed whether they give permission on not. The important thing to them is the disclaimer usually something along the lines of "we are not responsible to any third party who acts upon this report" or similar i.e. we don't really mind you seeing this but you can't sue us if we are wrong and you lose out because of it.
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geoff
Member of DD Central
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Post by geoff on Jun 7, 2016 8:37:54 GMT
It is a discussion that has come up in the past, but the concern is taken with a pinch of salt... Savingstream does now require we log in, so the valuation reports aren't in the public domain. I do also note that some of the recent valuation reports are made out to Lendy Ltd & Saving Security Holdings Ltd; the later is us investors. Not so. Valuation document 1 (val_81.pdf) of A******** G******* C******** is indexed in Google (Page 3 for the search term as asterisked). There may be others but I haven't looked.
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sl75
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Post by sl75 on Jun 7, 2016 12:03:53 GMT
Savingstream does now require we log in, so the valuation reports aren't in the public domain. At present, no login is required in order to download the PDF of the valuations, only to have a clickable link to the (highly predictable) URL at which they are publicly viewable.
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boundah
Member of DD Central
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Post by boundah on Jun 7, 2016 14:18:04 GMT
It is a discussion that has come up in the past, but the concern is taken with a pinch of salt... Savingstream does now require we log in, so the valuation reports aren't in the public domain. I do also note that some of the recent valuation reports are made out to Lendy Ltd & Saving Security Holdings Ltd; the later is us investors. That's interesting, so in some cases the reports are basically addressed to all of us. In law, I don't think so. We are neither directors nor shareholders of either company so we are not entitled to see the reports. However, the client (Lendy/SSHL) has presumably paid for them and I guess the valuers would be unwise to try and constrain their publication on the site.
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Post by goldservice on Jun 8, 2016 9:31:40 GMT
" not something I would imagine many professional people would like."
Personally, having suffered from shoddy work by many professionals, perhaps mainly associated with property and finance, I am delighted if their often well paid work receives public scrutiny.
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