acorn
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Post by acorn on Apr 6, 2014 12:27:16 GMT
Very, very small newby investor, trying to get started on Assetz and needing to diversify in £20 chunks to spread risk. Time taken to drawdown on new loans offered and lack of "tiddler nibbles" available on AM is making it difficult to get started. Would very much appreciate better access to the AM for little folk like me. P2P lending is a great opportunity to watch, learn and take proper control of my finances. Escaping the frustration of being trapped by poor investment opportunities simply because of a lack of capital has been hugely enabling. So... pretty, please Assetz, help put some more YESSS! in my life  |
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spockie
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Post by spockie on Apr 6, 2014 12:32:21 GMT
Set your auto invest to pick up £20 units for various completed loans that take your fancy. Sooner or later you'll pick something up. I was looking for £50 more in a couple of loans than I already had and have been allocated some £20 units as well as a £50 one.
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oldgrumpy
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Post by oldgrumpy on Apr 6, 2014 12:42:27 GMT
Good point acorn.
Mega bidders can bid (say) £5000 on an auction. AC by default splits the actual purchase to 50 X £100 chunks which can be offered for sale later if required. The mechanics of letting an auto-investor nibble £20 off a £100 unit* on the aftermarket should be feasible. Currently, all sorts of "odd" remaining chunks from partly repaid loans could be made available, e.g. Kris C*****r £100 slices are now worth £87.99, but I bought one in February for £90.74 so prices are always changing anyway.
Any chance, Chris?
* if no smaller chunks are available. I always used to bid in multiple small amounts until I discovered that AC subdivided larger bids.
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acorn
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Post by acorn on Apr 6, 2014 12:49:56 GMT
Thanks Spockie, will probably do this as I have more capital available and more confidence in using this site. Prefer to place bids for now but see loans on the AM I would like to partake of that only have £100 chunks on offer.
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Post by jevans4949 on Apr 6, 2014 12:50:21 GMT
By default, investments are automatically chopped into units of £100. Most of what is on the aftermarket has been put there by underwriters, who have invested five-figure or six-figure sums. Some smaller investors have manually bid for multiple smaller units, with a view to easy selling, but mostly they are holding on to what they have - and anything they put on the aftermarket is being quickly gobbled up.
Apparently, Assetz have the technology to allow initial bids to be specified in smaller units, but this has not been enabled.
Thinking about it, since Assetz create new unit records when units are sold, they could probably allow for bids for parts of units on the aftermarket ...
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acorn
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Post by acorn on Apr 6, 2014 13:07:33 GMT
Yes OG, this would be useful, or even converting a sensible proportion of the £100 chunks into smaller chunks when they are put on the AM. Trying this a few times would identify demand, particularly as newbies (and others for whom placing the bid manually is part of the chase) are unlikely to choose to use AI.
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oldgrumpy
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Post by oldgrumpy on Apr 6, 2014 13:34:18 GMT
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Post by chris on Apr 6, 2014 13:48:24 GMT
By default, investments are automatically chopped into units of £100. Most of what is on the aftermarket has been put there by underwriters, who have invested five-figure or six-figure sums. Some smaller investors have manually bid for multiple smaller units, with a view to easy selling, but mostly they are holding on to what they have - and anything they put on the aftermarket is being quickly gobbled up. Apparently, Assetz have the technology to allow initial bids to be specified in smaller units, but this has not been enabled. Thinking about it, since Assetz create new unit records when units are sold, they could probably allow for bids for parts of units on the aftermarket ... As mentioned in the other thread, we have the technology to do it but not yet legal / compliance permission. This is fairly high on the agenda for me though so I'd like to resolve it in the next few weeks. We could drop the auto-split level to £20 but that could cause scalability issues down the road due to volume of data, so I'd rather not for now especially if we can do away with the split completely and allow people to split loan units further down the line.
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acorn
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Post by acorn on Apr 6, 2014 14:22:39 GMT
Thanks OG & Chris, glad to hear it's in the pipeline.
Another thing I love about P2P is realtime engagement with real people!!
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Post by Ton ⓉⓞⓃ on Apr 6, 2014 14:30:33 GMT
By default, investments are automatically chopped into units of £100. Most of what is on the aftermarket has been put there by underwriters, who have invested five-figure or six-figure sums. Some smaller investors have manually bid for multiple smaller units, with a view to easy selling, but mostly they are holding on to what they have - and anything they put on the aftermarket is being quickly gobbled up. Apparently, Assetz have the technology to allow initial bids to be specified in smaller units, but this has not been enabled. Thinking about it, since Assetz create new unit records when units are sold, they could probably allow for bids for parts of units on the aftermarket ... As mentioned in the other thread, we have the technology to do it but not yet legal / compliance permission. This is fairly high on the agenda for me though so I'd like to resolve it in the next few weeks. We could drop the auto-split level to £20 but that could cause scalability issues down the road due to volume of data, so I'd rather not for now especially if we can do away with the split completely and allow people to split loan units further down the line. Self splitting seems the way to go, I'm happy to trade in 100's but then I like to sell in 20's. Crumbs TC's minimum bid is in 1000's not 100's. As you say there's a lot 20's in multi-million pound deal.
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Post by Ton ⓉⓞⓃ on Apr 6, 2014 14:34:56 GMT
Thanks OG & Chris, glad to hear it's in the pipeline. Another thing I love about P2P is realtime engagement with real people!! I put bids in 20's and 100's and sell the bits I don't want or I'm heavy in. Or atleast that's my plan. There definitely are units in 20's going on the aftermarket (AM). I bought some then I check them out and keep or resell.
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acorn
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Post by acorn on Apr 6, 2014 14:58:10 GMT
Yes, ton, I do see some sometimes but they tend to go very quickly and I can only drip such a tiny amount into my account at a time that I can't always catch them. Having funds in the right place at the right time is all ATM  |
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spockie
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Post by spockie on Apr 16, 2014 13:10:45 GMT
Yes, ton, I do see some sometimes but they tend to go very quickly and I can only drip such a tiny amount into my account at a time that I can't always catch them. Having funds in the right place at the right time is all ATM I've just put two £20 units on the AM.
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mikes1531
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Post by mikes1531 on Apr 16, 2014 16:29:05 GMT
Yes, ton, I do see some sometimes but they tend to go very quickly and I can only drip such a tiny amount into my account at a time that I can't always catch them. Having funds in the right place at the right time is all ATM I've just put two £20 units on the AM. And no doubt AI sprang into action immediately and sold them instantly. Does anyone know whether AI is smart enough to try to transfer sub-£100 parts to lenders who have a target set less than £100 above their current holding? If not, then it's likely that any small parts will go to the majority of lenders who are happy to accept £100 parts, and those trying to acquire less than £100 will have very little luck buying at all.
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spockie
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Post by spockie on Apr 16, 2014 16:39:42 GMT
I've just put two £20 units on the AM. And no doubt AI sprang into action immediately and sold them instantly. Does anyone know whether AI is smart enough to try to transfer sub-£100 parts to lenders who have a target set less than £100 above their current holding? If not, then it's likely that any small parts will go to the majority of lenders who are happy to accept £100 parts, and those trying to acquire less than £100 will have very little luck buying at all. It's taken about an hour for them to sell. I think it probably does automatically send the twenties etc to people wanting a total investment where the last two figures aren't 00 if you understand what I'm saying. I wanting a sum ending in 50 and ended up with two £20 units in the mix. I saw a £50 unit this morning and bought it, and then sold the two £20 units, so I have now reached my target investment for Ep**** whereas I was never going to with the two twenties.
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