What's on the SM? (L)

I only have one loan for sale, and there has been a significant up-tick in sales this morning. I do accept that many will withdraw though. We really do have a confidence crisis more than anything else. A few big payments, some defaults brought to a conclusion and I still think it's possible we can go back to famine on SM.

Edit: Actually, quite a large increase in sales this morning, and I presume more to come when people get back from work.

Not sure what evidence you have for that but I'd be delighted were it true!  Both Jonah's graphs and the scripts report very little change in outstanding SM.

In any case I, like many others, am sitting on large quantities that I want to put on the market.  However, this latent demand is not worth triggering with so much already on the SM.  For the first time in my history with Lendy, I have negative day loans because I've been unable to diversify fast enough.

Am getting very twitchy about Lendy but there's no way out at the moment...

MIght cheer up the optimists. The pessimists are long out of the door. It may cause the realists to pause on the threshold.

Even the queue for PBL101 has dipped...

By a whole £15. Only another ton, and I'm starting to sell...

Being pedantic, it has fallen today, very slightly. Availability currently around £6.8 million - down from a peak of £8m about a month ago.

I try and maintain a similar amount of my LY total up for sale. So if I sell £1k, I go through my loanbook and list the next £1k I want shot of. So my sales don't affect the availability stats. But they still happen.

I'm on a carefully managed LY reduction strategy - which will continue until I reach my LY baseline figure which will amount to about half the total interest I have earned off the platform over the last 3 to 4 years. The amount I have invested on the LY platform reduces every week. But I hold some quality which very rarely even appears on the SM and therefore which I wish to hang onto and if possible get more of.

I'm a bit surprised you have decided to exit. You are famous for being the King of Due Diligence and I rather got the impression you only invested in loans which ticked all the DD boxes and which you were happy to hold to term end or beyond, because you had done a belt and braces investigative job on your loans and were confident they were bomb proof.  I assume your reason for exiting is a combination of 1. the fear of a messy, long drawn out platform failure/wind down procedure as a result of the defaults situation and 2. Because, currently, you can get better returns on your money elsewhere for no greater or, arguably, lower risk. Depending on the quality of your portfolio, a full exit could take some time, or even be unachievable.

My position is that I remain in reduction mode and not exit mode. It's a sticky patch but I'm holding my nerve and I hope others act similarly in our collective interests. LY are listening and changes are afoot which will help a lot. Also, if the massive PBL143 does repay within the next 6 weeks as advised, that could be a total game changer and some early exiters might regret making a knee jerk decision and having to start from scratch again.

I'm surprised a near £5m loan against a troublesome cement site passed your checks but you avoided the later PBL178, PBL179, DFL022, DFL027, DFL028 and DFL029. All much smaller and longer dated 12% loans and consequently very rare, high quality, sought after and liquid in minutes on the SM.

As your active investment involvement is a barometer of the health of the platform, I hope we see you back and will be able to ask you if you prefer your humble pie served with custard or ice cream.

Good luck with selling your loan parts and rest assured if you put any quality on offer, I am still buying the good stuff.