warn
Member of DD Central
Curmudgeon
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Post by warn on Nov 5, 2016 15:42:26 GMT
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DeafEater
Member of DD Central
Extremely Moderate
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Post by DeafEater on Nov 5, 2016 16:00:05 GMT
...also please can you forsake any notion of marketing and rename the QAA as the PQAUTSHTFA (Probably Quick Access Unless The S**t Hits The Fan Account). It's not quite as catchy but it might make him go away. Oh yes and vi123 do you remember saying: edit: This is my last message and I abide by the wishes of this board. What part of what you said didn't you understand?
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Post by valueinvestor123 on Nov 5, 2016 16:13:28 GMT
"What part of what you said didn't you understand?"
The part which was Chris' message addressed to me. You don't need to read my posts or reply unless you have something constructive and less insulting to say.
Unless my posts are deemed off-topic, I couldn't care less what you think.
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star dust
Member of DD Central
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Post by star dust on Nov 5, 2016 16:33:41 GMT
In case anyone had/has any doubt - mod hat firmly attached.
I think this 'conversation' has gone far enough, even spilling over into the RateSetter board. The points appear to have been made by all parties, it's time for everybody to return to polite and constructive discourse. If anything inflammatory or impolite is posted by anyone else, the thread will be locked.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Nov 5, 2016 16:42:08 GMT
...also please can you forsake any notion of marketing and rename the QAA as the PQAUTSHTFA (Probably Quick Access Unless The S**t Hits The Fan Account). It's not quite as catchy but it might make him go away. OoooooooooHHh! I get it!!!  So that's the salt that Chris was talking about. 
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Post by valueinvestor123 on Nov 5, 2016 17:28:11 GMT
I would like answers to these questions at some point to help me with the research: "Also: "Any excess cash or other assets held above this level may be drawn to Assetz SME Capital Limited from time to time and will not be repaid to APFL." Where will the cash be going at Assetz SME?? and Has there been a thread on the main difference between Ratesetter's and AC's PFs? I need to study the former in more detail although I have much less money with RS." I am not discussing the PQAUTSHTFA (formerly known as the QAA) anymore  |
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Post by andrewholgate on Nov 7, 2016 10:49:58 GMT
A general comment to everyone.
AC makes clear there is a chance of loss in P2P lending. There are 3 references to this on the home page and throughout the website and investment system. In our terms and conditions, right at the top is a general statement about investing the last part of which says if you don't understand, go and get help from an IFA.
This forum is used to promote discussion and I am keen to continue to do so even under varying levels of prevarication provocation. There are some that would make random statements about levels of losses etc that could be construed that AC is a bad place to put your money. It's not really for me to say because I am biased towards the company that we have built over the last 4 years. What I can say is we have given all the information about or products that should give you enough to make a decision, if not more so that any other P2P lender out there.
If you are still unsure, take financial advice. Don't take my word for it although I fully believe in the methods we employ, or the words of strangers brought together through the medium of a message board. Stay safe, invest wisely and take financial advice.
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dandy
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Post by dandy on Nov 7, 2016 11:15:29 GMT
Are there any plans to provide more info on the QAA to show the loans it holds?
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Post by pepperpot on Nov 7, 2016 11:37:10 GMT
Are there any plans to provide more info on the QAA to show the loans it holds? I highly doubt it. Black box. The less info AC give out about it's habits the longer they can hold onto the valuable Intellectual Property. Don't want every Tom, Dick and Zopa copying it now do we.
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Post by andrewholgate on Nov 7, 2016 11:58:50 GMT
We promote transparency and it is being discussed. The "black box" phenomena is one I don't like personally.
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elsee
Member of DD Central
Retired:D
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Post by elsee on Nov 7, 2016 12:31:44 GMT
andrewholgateCan I ask a stupid question here? If people don't like investing in the QAA can't they just "park" money in the MLIA or cash account and have the QAA set to sweep unused funds? This way the funds are immediately available through either MLIA or cash account? It seems a no-brainer to me.
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Post by chris on Nov 7, 2016 13:30:45 GMT
andrewholgate Can I ask a stupid question here? If people don't like investing in the QAA can't they just "park" money in the MLIA or cash account and have the QAA set to sweep unused funds? This way the funds are immediately available through either MLIA or cash account? It seems a no-brainer to me. If you do that then the funds are still being invested into the QAA, so there is still risk involved. You're just telling the system to automatically withdraw those funds once they can be put to use elsewhere. However this is an opt-in facility and people don't have to use it. If they choose lenders can leave their funds sat idle in the cash account or MLIA and those funds won't touch the QAA or any account other than the one they explicitly transfer them into. QAA sweeping is a convenience function for those that are happy with the account and would rather their funds weren't left idle if there is opportunity for them to earn some interest, albeit at a lower rate than they are targeting in the longer term.
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elsee
Member of DD Central
Retired:D
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Post by elsee on Nov 7, 2016 13:51:05 GMT
chrisEven though your QAA says you have nothing invested? I'm using the scenario quoted with the proceeds of a bond while I decide what exactly to do with it. My QAA balance is <0.01 but everything is swept into it.
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Post by chris on Nov 7, 2016 13:53:13 GMT
chris Even though your QAA says you have nothing invested? I'm using the scenario quoted with the proceeds of a bond while I decide what exactly to do with it. My QAA balance is <0.01 but everything is swept into it. If you're earning interest then the funds are invested into Article 36H loans (the only type of loan we're authorised to offer). When you sweep idle funds into the QAA behind the scenes those funds are being transferred back and forth between the account they're invest in and the QAA. If you check your statement on that account you'll see transfers being made to the QAA.
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Post by valueinvestor123 on Nov 7, 2016 15:13:21 GMT
Are there any plans to provide more info on the QAA to show the loans it holds? I highly doubt it. Black box. The less info AC give out about it's habits the longer they can hold onto the valuable Intellectual Property. Don't want every Tom, Dick and Zopa copying it now do we. One thing I am trying to understand better: why is there an automatic assumption that the less you know about the workings of this account, the better it must be for the investor? Is it simply a case of taking the company by its word because of the <insert a long list of experience and money that has been entrusted to them> or some other specific information that I may have missed? "We promote transparency and it is being discussed. The "black box" phenomena is one I don't like personally."This is most certainly a very welcome change of tune. It is entirely up to the company whether it needs to be a phenomena.
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