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Post by earthbound on Jun 7, 2016 19:25:54 GMT
Well.. there has been a lot of speculation over the last week, wild accusations, law suits and now clear outs on the SM.. so..
SHOULD WE BE WORRIED?
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adrianc
Member of DD Central
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Post by adrianc on Jun 7, 2016 19:34:02 GMT
Whether we "should" or not, some will be.
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Post by trevxe on Jun 7, 2016 20:09:38 GMT
Well.. there has been a lot of speculation over the last week, wild accusations, law suits and now clear outs on the SM.. so.. SHOULD WE BE WORRIED? Probably not, but there is certainly a bit of a crisis of confidence going on amongst many. SS could help themselves a lot by communicating a lot more, and a lot more clearly, and by not listing junk loans like the graveyard in the midst of it all. Personally I'm cutting risk a little bit by offloading short dated loans rather than adding new cash, but other than that I'm holding firm.
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averageguy
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Post by averageguy on Jun 7, 2016 20:53:59 GMT
If people are worried with just the one current loan in default then I wonder if they should be investing through this medium...I'm keeping a cursory eye on events...but worried no.
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Post by Deleted on Jun 7, 2016 21:00:16 GMT
Well.. there has been a lot of speculation over the last week, wild accusations, law suits and now clear outs on the SM.. so.. SHOULD WE BE WORRIED? I think some people should get a bit more experienced before talking about worries. SS seems to me well managed and with a solid business model. I would suggest to everyone to stay calm and avoif stupid titles or senseless messages like the above. If you fell worried about your investments, sell them off. You will easily find buyers and sell in minutes any amount you want. (compare this with FC, where I have had loans for sale for MONTHS and still do not sell...).
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Post by earthbound on Jun 7, 2016 21:09:30 GMT
Well.. there has been a lot of speculation over the last week, wild accusations, law suits and now clear outs on the SM.. so.. SHOULD WE BE WORRIED? I think some people should get a bit more experienced before talking about worries. SS seems to me well managed and with a solid business model. I would suggest to everyone to stay calm and avoif stupid titles or senseless messages like the above. If you fell worried about your investments, sell them off. You will easily find buyers and sell in minutes any amount you want. (compare this with FC, where I have had loans for sale for MONTHS and still do not sell...).
To add further information to your insight, loans on the FS SM actually sell fairly quick if you know what you are buying and the advantages of buying them.
The fact that you are not worried, is good, however your presumption of 'all is ok' may not quite sit so well with others.
edit.. If you think the title is stupid..try ignore.. it works for me.
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Post by whatif on Jun 7, 2016 21:19:24 GMT
I worry about whether I'll wake up in the morning... it doesn't help. Anyone who IS worried should probably get out and dump their cash under the mattress. I'm not sure what SS can do to satisfy their members... do they answer every question and get bogged down in minutia, or do they concentrate on running their business. Until there is a catastrophic failure to pay I will give them the benefit of the doubt. If I'm wrong, and I lose my 'investment' it will hurt me, no doubt... but if we want these returns we have to accept the risk, and manage it appropriately. As long as there is no whiff of 'dodgy dealings' I'm sticking with them.  |
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Post by supernumerary on Jun 7, 2016 21:27:49 GMT
I think some people should get a bit more experienced before talking about worries. SS seems to me well managed and with a solid business model. I would suggest to everyone to stay calm and avoif stupid titles or senseless messages like the above. If you fell worried about your investments, sell them off. You will easily find buyers and sell in minutes any amount you want. (compare this with FC, where I have had loans for sale for MONTHS and still do not sell...).
To add further information to your insight, loans on the FS SM actually sell fairly quick if you know what you are buying and the advantages of buying them.
The fact that you are not worried, is good, however your presumption of 'all is ok' may not quite sit so well with others.
edit.. If you think the title is stupid..try ignore.. it works for me.
You asked a question and horr1997 replied to your thread.  If you asked a question, why are you complaining about the response?
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sam i am
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Post by sam i am on Jun 7, 2016 21:30:19 GMT
I really don't think there are any 'clearouts' on the SM. I put a significant amount on the SM on Monday morning. Does that worry you? How do you feel if I tell you that is because I created a significant negative balance on Friday and over the weekend? And I'm by no means the biggest hitter on SS.
The amount of turnover on the SM is tiny compared with the total loans and any large amounts are swallowed up relatively quickly with the exception of PBL020.
Get worried about other things if you so choose but I don't think clearouts are a concern right now.
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Post by earthbound on Jun 7, 2016 21:33:13 GMT
i can only assume from your first line that you know me, and how long i have been investing, maybe you even know how much.
To add further information to your insight, loans on the FS SM actually sell fairly quick if you know what you are buying and the advantages of buying them.
The fact that you are not worried, is good, however your presumption of 'all is ok' may not quite sit so well with others.
edit.. If you think the title is stupid..try ignore.. it works for me.
You asked a question and horr1997 replied to your thread. If you asked a question, why are you complaining about the response? The question is pretty specific 'should we be worried' the question did not ask about my experience as an investor nor did i ask for his opinion about my investments. if @horr1997 wish's to know my opinion or investment circumstances , he's free to ask, but if he wish's to insinuate my circumstances in a post then i will reply.
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adrianc
Member of DD Central
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Post by adrianc on Jun 7, 2016 21:35:40 GMT
Get worried about other things if you so choose but I don't think clearouts are a concern right now. Indeed. SS might not be perfect in many areas, but one thing they do NOT have to worry about currently is a shortage of money supply from lenders.
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Post by earthbound on Jun 7, 2016 21:48:19 GMT
I put a significant amount on the SM on Monday morning. Does that worry you? No... Why should it?
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jonbvn
Member of DD Central
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Post by jonbvn on Jun 7, 2016 22:03:58 GMT
To answer your question directly; no I am not worried.
Clearly, defaults are inevitable in this type of investment. It is one of the primary reasons for the 12% return on the platform.
So what can we do?
1. Diversify across loans, borrowers and platforms.
2. Some basic DD.
3. Did I say diversify?
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homes119
Member of DD Central
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Post by homes119 on Jun 7, 2016 22:13:03 GMT
If you've got 90% of your pension in SS, very worried  If you've got only a small part of assets in p2p with a partial allocation to SS... then not so much A bit too early to start rushing for the exits but if you have alot at stake I would definitely reduce my allocation starting with the loans that have the least maturity remaining and most sensitive to an RE recession. At least until after the Referendum and one or two loans have repaid without default. I mean what is one or two month's interest in this scenario? You'll then build back up once things calm down. |
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Post by harvey on Jun 7, 2016 22:21:01 GMT
Definitely the roughest and trickiest patch SS has been in since it's formation three or so years ago.
Changes in terms and conditions immediately before a major default , further changes today in terms of the advertised interest details on the website , unanswered questions in terms of the Lendy involvement and situation with the garden centre , several very dodgy looking new loans going up recently such as the coastal development site and the graveyard , and all backed by a quite deafening silence from saving stream for a week now.
Those events in a short space of time can do nothing to improve confidence and can only harm it.
My position is that I'm putting no new money here and as things mature I'm going to run down slightly and reduce my exposure to this platform. In all honesty it's for the best because I ended up liking saving stream so much in terms of the flat rate and simplicity that I'd ended up with a slightly bigger slice of my Investments on this platform in relation to others so a little bit of rebalancing prompted by recent events is no bad thing.
Worried is too strong a word but slightly concerned and watching events closely is closer to the mark.
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