ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 1, 2017 16:09:12 GMT
My trick is not to cancel loan parts for sale at the month end to recoup the lost interest. I forego the interest to maintain my position in the sales queue. Exiting with capital intact is more important to me than a bit of lost interest. I have made a few sales today but not as many as I was expecting. My rubbish loans are still not moving very fast, but they are crawling forward - like the gorilla man in the London marathon. He got to the finishing line eventually and I expect to do the same. Eventually.
The point of most note is that my 'rubbish loans' were not rubbish loans 2 months ago. The SM goalposts have moved. Maybe The Lemmings have learned? Or there's many more of 'em reading this site?!
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GeorgeT
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Post by GeorgeT on May 1, 2017 16:16:38 GMT
Another possibility I'm hanging my hat on is that people with interest to re-invest have looked at what's currently on offer and not been excited by it. They've mulled over the low to medium quality loans that are up for grabs and decided to hold fire until later in the day, with the hope some better quality offerings will have appeared on the SM when they look again.
When it gets near their bedtime they will feel a greater urge to get their interest re-invested so as not to lose a day's interest so we may see the less appealing loans starting to sell a bit faster as midnight approaches.
A spurt of activity between 9pm and midnight would not surprise me.
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ben
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Post by ben on May 1, 2017 16:18:18 GMT
My trick is not to cancel loan parts for sale at the month end to recoup the lost interest. I forego the interest to maintain my position in the sales queue. Exiting with capital intact is more important to me than a bit of lost interest. I have made a few sales today but not as many as I was expecting. My rubbish loans are still not moving very fast, but they are crawling forward - like the gorilla man in the London marathon. He got to the finishing line eventually and I expect to do the same. Eventually. The point of most note is that my 'rubbish loans' were not rubbish loans 2 months ago. The SM goalposts have moved. I bet they were rubbish loans two months ago.
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r1200gs
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Post by r1200gs on May 1, 2017 16:24:30 GMT
My trick is not to cancel loan parts for sale at the month end to recoup the lost interest. I forego the interest to maintain my position in the sales queue. Exiting with capital intact is more important to me than a bit of lost interest. I have made a few sales today but not as many as I was expecting. My rubbish loans are still not moving very fast, but they are crawling forward - like the gorilla man in the London marathon. He got to the finishing line eventually and I expect to do the same. Eventually. The point of most note is that my 'rubbish loans' were not rubbish loans 2 months ago. The SM goalposts have moved. I bet they were rubbish loans two months ago. It would depend on how you define a rubbish loan I suppose. For some, it's simply one with a few days left to run.
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r1200gs
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Post by r1200gs on May 1, 2017 16:25:11 GMT
Another possibility I'm hanging my hat on is that people with interest to re-invest have looked at what's currently on offer and not been excited by it. They've mulled over the low to medium quality loans that are up for grabs and decided to hold fire until later in the day, with the hope some better quality offerings will have appeared on the SM when they look again. When it gets near their bedtime they will feel a greater urge to get their interest re-invested so as not to lose a day's interest so we may see the less appealing loans starting to sell a bit faster as midnight approaches. A spurt of activity between 9pm and midnight would not surprise me. Probably because they just got back from the pub. :-)
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acky
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Post by acky on May 1, 2017 16:27:08 GMT
Another possibility I'm hanging my hat on is that people with interest to re-invest have looked at what's currently on offer and not been excited by it. They've mulled over the low to medium quality loans that are up for grabs and decided to hold fire until later in the day, with the hope some better quality offerings will have appeared on the SM when they look again. When it gets near their bedtime they will feel a greater urge to get their interest re-invested so as not to lose a day's interest so we may see the less appealing loans starting to sell a bit faster as midnight approaches. A spurt of activity between 9pm and midnight would not surprise me. Are you clutching at straws or a low-flying pig?
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Liz
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Post by Liz on May 1, 2017 17:05:16 GMT
There are basically 2 SMs now. Gold and dog t*rds. The gold is selling in seconds. Anything 11%+, 200+ days is going in milliseconds. The dog t*rds are sitting there festering for weeks, regardless of how many repayments/interest runs yield spare cash to invest. I don't think it that "Black and white" Even DFL with over £400K is selling, you just might have to wait a week for your parts to sell. Whereas some of the 12%ers with over 100 days are some of the worst security. People are buying for liquidity not based on return vs risk. You have: The good liquid The bad liquid The good illiquid The bad illiquid The very bad illiquid The dire illiquid The defaulted illiquid(  are people buying this unpolished turd?)
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Liz
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Post by Liz on May 1, 2017 17:10:35 GMT
There are basically 2 SMs now. Gold and dog t*rds. The gold is selling in seconds. Anything 11%+, 200+ days is going in milliseconds. The dog t*rds are sitting there festering for weeks, regardless of how many repayments/interest runs yield spare cash to invest. Wonder how those who manipulate rely on the SM are feeling now? As Dude says, you should always invest with a view to holding to term. You can afford not to do that here. I bet most on here do very little/no DD and then sell at 100+ days. Earn 12% with very little risk. I mean has anyone ever been locked into a loan with positive days ever? Even the 1P I bought on the defaulted PBL20 sold in a couple of weeks.
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GeorgeT
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Post by GeorgeT on May 1, 2017 17:42:39 GMT
Wonder how those who manipulate rely on the SM are feeling now? As Dude says, you should always invest with a view to holding to term. You can afford not to do that here. I bet most on here do very little/no DD and then sell at 100+ days. Earn 12% with very little risk. I mean has anyone ever been locked into a loan with positive days ever? Even the 1P I bought on the defaulted PBL20 sold in a couple of weeks. I've never held a loan to within a month of term end, never had any intention to, and never will. And that's in over 3 years of SS/Ly investing. The loans I am selling slowly at the moment and I described as rubbish are all at 12% and all have circa 50 days to run. e.g. the London flats and new houses in a Devon town. I'm not trying to offload stuff at sub 12% or at sub 1 month to run. I did buy into a couple of 11%ers but won't again. Keep at 12% and well into +day territory and risk is minimised. The security / borrower is secondary and can be largely ignored if you manage your investments on a daily basis. IMO the only people who need to bother with a lot of DD are 'savers' who like to invest their money and then go away and forget about it for a year - a bit like bank savers would.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 1, 2017 17:55:48 GMT
You can afford not to do that here. I bet most on here do very little/no DD and then sell at 100+ days. Earn 12% with very little risk. I mean has anyone ever been locked into a loan with positive days ever? Even the 1P I bought on the defaulted PBL20 sold in a couple of weeks. I've never held a loan to within a month of term end, never had any intention to, and never will. And that's in over 3 years of SS/Ly investing. The loans I am selling slowly at the moment and I described as rubbish are all at 12% and all have circa 50 days to run. e.g. the London flats and new houses in a Devon town. I'm not trying to offload stuff at sub 12% or at sub 1 month to run. I did buy into a couple of 11%ers but won't again. Keep at 12% and well into +day territory and risk is minimised. The security / borrower is secondary and can be largely ignored if you manage your investments on a daily basis. IMO the only people who need to bother with a lot of DD are 'savers' who like to invest their money and then go away and forget about it for a year - a bit like bank savers would. on here who would disagree with that, including moi!
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GeorgeT
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Post by GeorgeT on May 1, 2017 19:13:32 GMT
I've never held a loan to within a month of term end, never had any intention to, and never will. And that's in over 3 years of SS/Ly investing. The loans I am selling slowly at the moment and I described as rubbish are all at 12% and all have circa 50 days to run. e.g. the London flats and new houses in a Devon town. I'm not trying to offload stuff at sub 12% or at sub 1 month to run. I did buy into a couple of 11%ers but won't again. Keep at 12% and well into +day territory and risk is minimised. The security / borrower is secondary and can be largely ignored if you manage your investments on a daily basis. IMO the only people who need to bother with a lot of DD are 'savers' who like to invest their money and then go away and forget about it for a year - a bit like bank savers would. on here who would disagree with that, including moi! From a moral perspective, I agree. From an investment strategy perspective, I am having to adjust my strategy like many others - in the sense that 100 days is the new 60 days. However my strategy has served me well to date and giving how diversified I am across many different loans remain of the opinion that my strategy that has served me well is still the right one. Yes it is pass the parcel, but I have over 3 years experience at the game and I am getting good at it. I do think some people over complicate and over analyse things. It's a bit like when you hear football experts and pundits going on for long periods of time talking about formations and the exact positioning of players and tactics. That keeps them busy and employed but when you strip it down to the basics it is just 22 people chasing a ball around a field.
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Post by bracknellboy on May 1, 2017 20:00:47 GMT
Many on here who would disagree with that, including moi! Surely only 20 are doing the chasing ? The other 2 are waiting for it to arrive are they not ?
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ben
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Post by ben on May 1, 2017 20:01:16 GMT
Many on here who would disagree with that, including moi! From a moral perspective, I agree. From an investment strategy perspective, I am having to adjust my strategy like many others - in the sense that 100 days is the new 60 days. However my strategy has served me well to date and giving how diversified I am across many different loans remain of the opinion that my strategy that has served me well is still the right one. Yes it is pass the parcel, but I have over 3 years experience at the game and I am getting good at it. I do think some people over complicate and over analyse things. It's a bit like when you hear football experts and pundits going on for long periods of time talking about formations and the exact positioning of players and tactics. That keeps them busy and employed but when you strip it down to the basics it is just 22 people chasing a ball around a field. For a small investor then yes that strategy can work however for the larger investors that strategy can never really work. So for myself and many others on here we have to do the DD which gives you the oppotinity to play the play the secondary market. I personally could not be bothered to invest in a loan that I had no intention of holding and then keep on playing pass the parcel.
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Post by df on May 1, 2017 20:07:48 GMT
I am moving my repayments and interest to FSISA and MT. I will invest in 12% ers but not the DFL additional tranches where I am already fully invested. Consequently in the last month or so my overall investment in Ly has reduced. This will continue until Ly have an IFISA account. Looking at what's become available on the SM in the last few weeks and the increase in the SM today after April's interest has been credited I suspect I'm not the only one. Similar here. One of my particular concerns is whether Lendy will devote adequate resource to manage the growing list of defaults, or adopt the "low cost airline" mentality we have already seen hints of, and do the least possible. Exactly! In the past 3 months or so defaults increased from 1 to 14, this doesn't give much confidence to current and potential future investors. Poor communication doesn't help either, they are very reserved in releasing detailed reports on overdue loans. Updates like "Our agents are visiting the site shortly to confirm it is being cleaned up and the lease is being adhered to. Selling agents have been appointed and there are a couple of interested parties. In the event that no interest is confirmed prior to the completion of the clean up it will be placed in auction." on 10 months overdue loan is not impressive. 7% loans are just not right for a very high risk platform. AC has far more to offer at that rate - better loan flow and much lower risk.
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GeorgeT
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Post by GeorgeT on May 1, 2017 21:30:02 GMT
I wonder if the fans of due diligence and checking out the security and veracity of the valuation report would put their money where their mouths are and invest in a defaulted loan over and above one with say 200 days to run if the security looked sounder on the defaulted loan than on the 200 day to run loan. Personally I doubt it.
Activity on the secondary market suggests that the majority of investors operate like I do and that only fools or the very brave willingly hold loans to term end.
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are people buying this unpolished turd?)
