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Post by rb5286 on Apr 27, 2017 21:38:57 GMT
That's what I'm waiting on - the next big crash in the markets (20% - 50%) then I'm ploughing into index funds. I still invest in index funds now, but when everyone is selling, I'll be buying :-) Shares have ALWAYS recovered past initial losses throughout history. If they don't then the world has went to hell in a hand basket, so money will be the least of my worries! Mmm, the main Japanese share Index , the Nikkei 225 was approx 37,000 at its high, fully 28 years ago in 1989. Now it's about half that level at 18,600. True, but someone who invested entirely (which a bad idea - you should diversify across the globe) in the Nikkei back then and left their money in would still have massively increased their wealth due to dividends paid out all those years. BTW the FTSE 100 was 427.50 in February of 1978 - now it's over 7,200...you do the math! and it's the same across most developed countries indices. People don't realise the compounding affect reinvesting your dividends has. The index number is not as important as the news channels would like you to believe. If you are looking at income from dividends, then who cares what the index is at?... unless you're a trader.
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GeorgeT
Member of DD Central
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Post by GeorgeT on Apr 27, 2017 23:20:30 GMT
I've been making daily withdrawals from LfSS this week as things have sold. I have just submitted my 4th withdrawal request of the week.
I'm not investing that money in a different sexier place, either.*** It's going to be sitting in my bank deposit account earning me no interest for a while. But at least I know the money is safe. I still have a few £000 in sale queues but I'm hoping to have downsized my total LfSS investment by about 30% by this time next week.
I'm taking advantage of the slightly improved liquidity this week to reduce my stake in LfSS and only remain in loans I feel happy with, and that are paying 12%.
The loan parts I'm having most difficulty shifting are the 2 Exeter loans. Those are both 12%ers and had about 60 days to run when I listed my parts for sale, but they are proving quite unpopular on the SM, despite the 12% and unexpired terms. The queues are moving - but very slowly. With an interest run in 3 days I'm confident of selling out of them but it's taking a while. It's making me realise that liquidity is worsening and I can't have so much locked in to this platform.
The glory days of this platform are in the past, in my opinion. I was determined to come out in profit. And with the interest I have received over the last 3 years, that is now a certainty.
*** Edit. I did use some of it to invest in the new MT loan today, but most is sitting idle.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 27, 2017 23:32:44 GMT
I've been making daily withdrawals from LfSS this week as things have sold. I have just submitted my 4th withdrawal request of the week. I'm not investing that money in a different sexier place, either.*** It's going to be sitting in my bank deposit account earning me no interest for a while. But at least I know the money is safe. I still have a few £000 in sale queues but I'm hoping to have downsized my total LfSS investment by about 30% by this time next week. I'm taking advantage of the slightly improved liquidity this week to reduce my stake in LfSS and only remain in loans I feel happy with, and that are paying 12%. The loan parts I'm having most difficulty shifting are the 2 Exeter loans. Those are both 12%ers and had about 60 days to run when I listed my parts for sale, but they are proving quite unpopular on the SM, despite the 12% and unexpired terms. The queues are moving - but very slowly. With an interest run in 3 days I'm confident of selling out of them but it's taking a while. It's making me realise that liquidity is worsening and I can't have so much locked in to this platform. The glory days of this platform are in the past, in my opinion. I was determined to come out in profit. And with the interest I have received over the last 3 years, that is now a certainty. *** Edit. I did use some of it to invest in the new MT loan today, but most is sitting idle. Can't argue with that strategy georget, VERY wise move! (I exited Exeter luckily several weeks back and am now down to low four figures before L finally sees the back of a clean pair of heels as I romp off into the distance with my swag in hand. And L should feel very lucky, I see that FC and Rebs are getting a good kicking on their boards!)
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GeorgeT
Member of DD Central
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Post by GeorgeT on Apr 27, 2017 23:37:05 GMT
Off topic I guess on here, but I exited ReBS a couple of years ago -just in time.
I was getting bad vibes from ReBS about their loans, borrowers and comms, and now I'm getting the same vibes from LfSS.
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Post by p2plender on Apr 28, 2017 3:30:51 GMT
Nice to see some good honest posts on this thread against the many rose tinted posts I've become accustomed to. I've said before, a liquid sm is what attracts most investors to ss. I don't really understand those saying you should only invest in loans you are comfortable with. Surely the word 'loan' attracts caution! A liquid sm is partly an escape clause given ones dd and initial reason for investing can change through the course of a loan. Passing the problem onto the next person by selling? Well p2p is investing and so is trading equities, and I sell a stock when I think my investment has run its course. I don't really use SS to purchase a loan to hold to full term though I'm not necessarily against this, nor do I use it as 'instant access'. Like many here, I've reduced significantly of late, well into 5 figs. So with so many reducing, this answers the question further up as to why several million has left the platform since last 2 repayments. I've lost no money (yet) with ss, and if they can get through all those defaults unscathed then I'll be happy to start adding again to my 'investment' especially as I've made an awful lot of interest this last 18 months from investing with ss. Interesting times ahead and still quite enjoying the ducking and diving of p2p investing.
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Post by supernumerary on Apr 30, 2017 9:00:56 GMT
£50,005 of DFL024 has just arrived on the secondary market.  I take it that this loan has just 'appeared' out of the pipeline...  |
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Apr 30, 2017 9:13:55 GMT
£50,005 of DFL024 has just arrived on the secondary market. I take it that this loan has just 'appeared' out of the pipeline... Something tells me that is LY feeding the SM with a loan that didn't fill Let's hope that MT Investor's the borrower doesn't need the funds soon...
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Apr 30, 2017 9:14:24 GMT
£50,005 of DFL024 has just arrived on the secondary market. I take it that this loan has just 'appeared' out of the pipeline... And paying just 9% int. it can "disappear" back up the pipeline AFAIAC 
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Post by supernumerary on Apr 30, 2017 9:30:19 GMT
£50,005 of DFL024 has just arrived on the secondary market. I take it that this loan has just 'appeared' out of the pipeline... And paying just 9% int. it can "disappear" back up the pipeline AFAIAC Well in half an hour, since 'launch', it was 'down' to £50,000... Now it is really picking up sales, at £49,990 left to go...
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Post by supernumerary on Apr 30, 2017 9:32:32 GMT
£50,005 of DFL024 has just arrived on the secondary market. I take it that this loan has just 'appeared' out of the pipeline... Something tells me that is LY feeding the SM with a loan that didn't fill Let's hope that MT Investor's the borrower doesn't need the funds soon... I didn't know that DUDE. That would be borrow to lend, wouldn't it?
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Post by GSV3MIaC on Apr 30, 2017 9:58:27 GMT
/mod hat off
AIUI L are not allowed to fund the loan with their own platform cash (FCA rules, to avoid risk of platform sinking itself), but no reason why a 'very closely associated' underwriter could not do so, and then release onto the SM as and when. Not sure if L still have official underwriters (out of my league), but I'm sure they know folks with the odd spare £1m or two.
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mikeh
Member of DD Central
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Post by mikeh on Apr 30, 2017 10:19:17 GMT
There is no sale queue to talk of so it must come from Lendy/Underwriters. Presumably there is nothing to stop it drawing down as soon as negative balances are settled.
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elliotn
Member of DD Central
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Post by elliotn on Apr 30, 2017 11:42:46 GMT
/mod hat off AIUI L are not allowed to fund the loan with their own platform cash (FCA rules, to avoid risk of platform sinking itself), but no reason why a 'very closely associated' underwriter could not do so, and then release onto the SM as and when. Not sure if L still have official underwriters (out of my league), but I'm sure they know folks with the odd spare £1m or two. Yes, 50k here and c75k on another lower rate loan recently. Spin aside - that even the lower rate loans are many multiples over-subscribed - I wonder if, say, a director could take this on their personal account and the platform remain FCA compliant? (The mysterious m**l certainly helped SM liquidity in some of its recent log-jams.)
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dzo
Member of DD Central
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Post by dzo on Apr 30, 2017 20:03:40 GMT
/mod hat off AIUI L are not allowed to fund the loan with their own platform cash (FCA rules, to avoid risk of platform sinking itself), but no reason why a 'very closely associated' underwriter could not do so, and then release onto the SM as and when. Not sure if L still have official underwriters (out of my league), but I'm sure they know folks with the odd spare £1m or two. Yes, 50k here and c75k on another lower rate loan recently. Spin aside - that even the lower rate loans are many multiples over-subscribed - I wonder if, say, a director could take this on their personal account and the platform remain FCA compliant? (The mysterious m**l certainly helped SM liquidity in some of its recent log-jams.) If something like that is happening then it's surely not sustainable. Maybe Lendy need to accept that recent rates have been slightly too low.
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treeman
Member of DD Central
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Post by treeman on May 1, 2017 9:16:34 GMT
Maybe a glitch? No DFL024 showing on SM but loan page says £23,741 available ?  |
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