ali
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Post by ali on Sept 19, 2016 20:17:45 GMT
MoneyThing , any bid limits on the Birkenhead loans? Thanks None set on the pending loans page, so presumably not.
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SteveT
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Post by SteveT on Sept 19, 2016 20:24:52 GMT
I reckon there needs to be, at least on the 13% tranche
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ali
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Post by ali on Sept 19, 2016 20:34:22 GMT
I reckon there needs to be, at least on the 13% tranche My theory is that MT is wanting to encourage the ex-Cardiff money to say on the platform and this trumps their normal desire to support the smaller investor. Of course, I could easily be completely wrong.
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james
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Post by james on Sept 19, 2016 20:58:27 GMT
I reckon there needs to be, at least on the 13% tranche On both I'd say. Discouraging that there seems to be none, makes me doubtful whether it's worth me trying to get into this pair even though I certainly would if I thought there was a prospect of successfully managing it.
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Post by bengilbert on Sept 19, 2016 21:12:50 GMT
MoneyThing , any bid limits on the Birkenhead loans? Thanks Ed discussed this with me and we thought that, given the size of the loan and as we're not yet sure what the response will be to the tranches, we'd not have a bid limit. However, should there be strong demand and some people feel they have missed out, MT will be able to increase the portion of the loan it's funding, and launch a further drawdown in the next few days including a maximum bid size to give more investors a chance to invest.
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SteveT
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Post by SteveT on Sept 19, 2016 21:38:44 GMT
Well there are going to be a whole heap of complaints if 2 or 3 big hitters swoop in for the whole lot in minutes (we've seen 6 figure stakes on MT before and they are common on other platforms). I don't understand why an initial limit (even if only lasting a couple of hours) wouldn't make sense.
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sam i am
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Post by sam i am on Sept 19, 2016 21:42:39 GMT
I reckon there needs to be, at least on the 13% tranche My theory is that MT is wanting to encourage the ex-Cardiff money to say on the platform and this trumps their normal desire to support the smaller investor. Of course, I could easily be completely wrong. Will Cardiff be repaid in time? SS are launching it tomorrow, so that means the cash has got to be with MT within 24 hours. There's probably some legal stuff to be done in between. I'd say they're cutting it a bit fine.
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Post by Deleted on Sept 19, 2016 21:49:10 GMT
no limit + no captcha = 1 single big hitter with a bot could clean up in milliseconds if they wanted
not that i want to give them any ideas...
as above, even a large limit like 10k would prevent this
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treeman
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Post by treeman on Sept 19, 2016 21:51:43 GMT
My theory is that MT is wanting to encourage the ex-Cardiff money to say on the platform and this trumps their normal desire to support the smaller investor. Of course, I could easily be completely wrong. Will Cardiff be repaid in time? SS are launching it tomorrow, so that means the cash has got to be with MT within 24 hours. There's probably some legal stuff to be done in between. I'd say they're cutting it a bit fine. Couldn't agree more with the above concerns - this could easily get swallowed up PDQ. Long before the hopefully-soon-to-be-ex-Cardiff funds even get the chance to stay on the platform.
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ali
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Post by ali on Sept 19, 2016 21:52:14 GMT
My theory is that MT is wanting to encourage the ex-Cardiff money to say on the platform and this trumps their normal desire to support the smaller investor. Of course, I could easily be completely wrong. Will Cardiff be repaid in time? SS are launching it tomorrow, so that means the cash has got to be with MT within 24 hours. There's probably some legal stuff to be done in between. I'd say they're cutting it a bit fine. bengilbert has explained their thought process, so my theory was wrong. To answer your point however, there is already ex-Cardiff money on MT; quite sizeable amounts of Cardiff have been sold (which pretty much must mean that a number of people have moved money into MT short-term to take advantage of a few days of 13% low-risk loans). The money that has been released so far may be small compared with what is to come, but I'm sure MT would rather none of it went elsewhere. I haven't seen much non-Cardiff loans being bought.
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paulg
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Post by paulg on Sept 19, 2016 21:55:11 GMT
MoneyThing , any bid limits on the Birkenhead loans? Thanks Ed discussed this with me and we thought that, given the size of the loan and as we're not yet sure what the response will be to the tranches, we'd not have a bid limit. However, should there be strong demand and some people feel they have missed out, MT will be able to increase the portion of the loan it's funding, and launch a further drawdown in the next few days including a maximum bid size to give more investors a chance to invest. I think that is a reasonable and fair approach, especially with the promise of a second bite of the cherry with bid limits if the demand is found to be there. If it turns out that demand does outstrip supply too quickly I don't think having to wait an extra couple of days for the next tranche should be a cause for complaint. I also think it's important that once a bid limit (or no limit) has been set, that it isn't changed after investors have arranged their accounts for that limit.
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woodie
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Post by woodie on Sept 19, 2016 22:25:52 GMT
Sorry to disagree. Even at this late stage I think that bid limits should be applied.
I have a feeling that a lot of the Cardiff money will stay with the platform, and if not the BH can reapply 24hrs later.
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gt94sss2
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Post by gt94sss2 on Sept 19, 2016 22:27:41 GMT
I would add my voice to those who think MT should have some form of limit on these loans - especially where you are not sure of demand.
I appreciate Ben raises the option of a possible further tranche but this would also mean some investors being able to invest in both tranches. Much more equitable to have a limit of some sort on these loans - especially the 13% one
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Post by Deleted on Sept 19, 2016 22:38:20 GMT
ya, this does seem to encourage a fast-fingered free-for-all starting at 1 nanosecond after 4pm
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j
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Post by j on Sept 19, 2016 23:05:17 GMT
If no bid limit is coupled with repayment of Welsh loan coming in later than the L'pool loan launch, there will be a lot of miffed people!
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