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Post by westonkev on Dec 11, 2016 9:31:15 GMT
This encapsulates my views very nicely. Add in the likelihood of supporters throwing in 'save our club' legal challenges and I don't see any prospect of getting planning permission or quick sales. As a football fan, I find this loan a worry. The football world is full of property developers trying to close or relocate historic football clubs, which due to the working class history is usually central on prime land. It always ends in tears, either of the fans or the developer. It's acrimonious and bitter. I think the reputational risk to the P2P sector and MoneyThing will be damaged by this loan. I personally wouldn't want to be one of the lenders pursuing foreclosure. And reading the financial travails of B*** FC in the papers (and latest results), this is where this loan is heading... Kevin.
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woodie
Member of DD Central
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Post by woodie on Dec 11, 2016 10:46:16 GMT
A bit premature Kev, MoneyThing will only be damaged by this loan if things go badly wrong. Only time will tell. Anyway, in a previous life, I thought you said you weren't keen on 12% platforms, but its nice to have you back 
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elliotn
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Post by elliotn on Dec 11, 2016 12:00:46 GMT
AFAICS Wk is warning vs precisely this kind of 12% chimera.
Far better a historically modelled batch of c5% consumer loans.
IWKHO.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 12, 2016 10:11:49 GMT
Anyone who expects to get 12% without any losses is very optimistic. IMO the sensible strategy is widespread diversification and hope that the interest on loans that perform will compensate for any losses. Hoping to avoid losses by DD and cherry picking is tantamount to gambling - and just like gambling some people will make it work and will then think their success is due to their skill and not to luck.
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oldgrumpy
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Post by oldgrumpy on Dec 12, 2016 10:29:38 GMT
Anyone who expects to get 12% without any losses is very optimistic. IMO the sensible strategy is widespread diversification and hope that the interest on loans that perform will compensate for any losses. Hoping to avoid losses by DD and cherry picking is tantamount to gambling - and just like gambling some people will make it work and will then think their success is due to their skill and not to luck. I might be inclined to gamble on this football club if the team could actually win games and push for promotion. Being in the next division up would increase income considerably. Going down to Division 2 would decrease it (IMHO) to bankruptcyville, which is the way that team is heading now. ( 13 losses and two draws in all competitions since the last win on Sept 27 - before that there were six consecutive wins, so something has gone wrong with the management of the team) I have sold all my investments in this loan.
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parisingoc
Member of DD Central
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Post by parisingoc on Dec 12, 2016 11:07:25 GMT
Tranche 2 being released later today is stated as being towards funding the application for planning permission.
Does anyone have any experience of how long the gaining of such permissions may take? I realise that it is not a simple task so if anyone does have some ideas, a wide range of min/most likely/max timescales is more than acceptable.
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ben
Posts: 2,020
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Post by ben on Dec 13, 2016 0:58:08 GMT
Anyone who expects to get 12% without any losses is very optimistic. IMO the sensible strategy is widespread diversification and hope that the interest on loans that perform will compensate for any losses. Hoping to avoid losses by DD and cherry picking is tantamount to gambling - and just like gambling some people will make it work and will then think their success is due to their skill and not to luck. At the end of the day investment is gambling. You do not know the outcome you only know the odds and you pick the ones you like. So personally I will carry on cherry picking.
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Post by Deleted on Dec 13, 2016 8:58:54 GMT
Blind faith in 'diversification' played a big role in the last financial crisis
If you pick a wide variety of 'diversified' dog turds and put them in a pile, what you have is still a pile of dog turds
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 13, 2016 10:45:53 GMT
If you cherry pick dog turds you will still have dog turds, but if you are successful maybe a better class of turd.
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boundah
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Post by boundah on Dec 13, 2016 10:51:22 GMT
Blind faith in 'diversification' played a big role in the last financial crisis If you pick a wide variety of 'diversified' dog turds and put them in a pile, what you have is still a pile of dog turds With you on that @eurasian69 . I prefer to have larger sums in a smaller number of loans I feel comfortable with than to diversify just for the sake of it.
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archie
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Post by archie on Dec 13, 2016 10:51:59 GMT
My best advice is don't take advice. Pick a strategy that you are comfortable with and stick to it. I use different strategies on different platforms. |
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Post by Deleted on Dec 13, 2016 11:30:22 GMT
Anyone who expects to get 12% without any losses is very optimistic. IMO the sensible strategy is widespread diversification and hope that the interest on loans that perform will compensate for any losses. Hoping to avoid losses by DD and cherry picking is tantamount to gambling - and just like gambling some people will make it work and will then think their success is due to their skill and not to luck. Widespread diversification without DD is a risky strategy and will mean lenders picking up poor quality loans of which they no nothing about.
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Steerpike
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Post by Steerpike on Dec 13, 2016 12:01:41 GMT
Various emporia purvey varying quantities of turd and chocolate and from a distance the different products look very similar.
Some establishments allow you to get up close and inspect their wares. If you want to purchase large quantities of chocolate and you believe that you know poo when you see it, you may wish to choose one of these platforms, however, this may mean that you spend a significant amount of time sifting excrement.
If you can't tell which is chocolate and which isn't then you may wish to select an outlet that has a history for selling mostly confectionery and a policy for giving you your money back if you select a cow pat, alternatively you can go to a market that allows you to resell your purchases before the smell becomes too obvious.
Unfortunately, of course, the past is no guarantee of the future and even good quality chocolate may be contaminated when purchased from a source that also supplies doo doo.
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Post by Deleted on Dec 13, 2016 12:11:35 GMT
A most excellent scatological analysis of the current state of P2P lending
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littleoldlady
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Post by littleoldlady on Dec 13, 2016 13:24:12 GMT
It is obvious that most users of this forum are by definition active investors and so will believe in the merits of DD and cherry picking. Each to their own, good luck with whatever strategy appeals to you.
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