dorset
Member of DD Central
Posts: 281 
Likes: 187
|
Post by dorset on May 31, 2014 13:15:27 GMT
It’s certainly not easy getting started with AC.
I put in a few hundred a couple of months ago to try out the platform. Some of this went into the AM and some into bids. Clearly I cannot at this stage use the shadow bid system and therefore have had tied up funds sitting around for some weeks waiting for drawdown. I could of course put bigger chunks into each AM loan but would end up with no real diversification. The lack of bid opportunities is also of concern.
I will stay with the funds already in but will not be adding until I see how the new starter difficulties pan out. Either shadow bids need to be available for all new investors or AC must bring new loans to market only when drawdown is imminent. This may of course make funding without underwriting uncertain but that is what the underwriter is for.
As an aside, I have substantial investments in FC, and like most have mixed views about the platform, however the new secured property loans provide an example of how things should work. The rates are not brilliant but I have been investing – funded and drawn down within 24/48 hours and the 2% cashback in my account shortly thereafter.
|
|
|
|
Post by Ton ⓉⓞⓃ on May 31, 2014 14:05:07 GMT
It’s certainly not easy getting started with AC.
I put in a few hundred a couple of months ago to try out the platform. Some of this went into the AM and some into bids. Clearly I cannot at this stage use the shadow bid system and therefore have had tied up funds sitting around for some weeks waiting for drawdown. I could of course put bigger chunks into each AM loan but would end up with no real diversification. The lack of bid opportunities is also of concern.
I will stay with the funds already in but will not be adding until I see how the new starter difficulties pan out. Either shadow bids need to be available for all new investors or AC must bring new loans to market only when drawdown is imminent. This may of course make funding without underwriting uncertain but that is what the underwriter is for.
As an aside, I have substantial investments in FC, and like most have mixed views about the platform, however the new secured property loans provide an example of how things should work. The rates are not brilliant but I have been investing – funded and drawn down within 24/48 hours and the 2% cashback in my account shortly thereafter.
Do you use the AI (Auto Invest) function on AC. I understand it's of a different order than the similar on FC? I'm told by AC that millions of pounds are traded via this, and as I imagine a smaller investor I believe it's slanted towards you. (IN EDIT As you may know AI is really geared at trading in £100 units, tho' smaller parts exist, and this may change) For the moment I'm concentrating on one platform until I have it down.
|
|
|
|
Post by batchoy on May 31, 2014 14:19:59 GMT
It’s certainly not easy getting started with AC.
I put in a few hundred a couple of months ago to try out the platform. Some of this went into the AM and some into bids. Clearly I cannot at this stage use the shadow bid system and therefore have had tied up funds sitting around for some weeks waiting for drawdown. I could of course put bigger chunks into each AM loan but would end up with no real diversification. The lack of bid opportunities is also of concern.
I will stay with the funds already in but will not be adding until I see how the new starter difficulties pan out. Either shadow bids need to be available for all new investors or AC must bring new loans to market only when drawdown is imminent. This may of course make funding without underwriting uncertain but that is what the underwriter is for.
As an aside, I have substantial investments in FC, and like most have mixed views about the platform, however the new secured property loans provide an example of how things should work. The rates are not brilliant but I have been investing – funded and drawn down within 24/48 hours and the 2% cashback in my account shortly thereafter.
Do you use the AI (Auto Invest) function on AC. I understand it's of a different order than the similar on FC? I'm told by AC that millions of pounds are traded via this, and as I imagine a smaller investor I believe it's slanted towards you. (IN EDIT As you may know AI is really geared at trading in £100 units, tho' smaller parts exist, and this may change) For the moment I'm concentrating on one platform until I have it down. , I would go further than that, and say AC, despite having a minimum bid of £20, is really geared around £100 units.
|
|
dorset
Member of DD Central
Posts: 281
Likes: 187
|
Post by dorset on May 31, 2014 15:03:11 GMT
No I have not used the AI feature yet.
Reading the AI thread would suggest waiting until it is completely debugged.
|
|
|
|
Post by Ton ⓉⓞⓃ on May 31, 2014 15:40:23 GMT
No I have not used the AI feature yet.
Reading the AI thread would suggest waiting until it is completely debugged. I don't see any bugs to be honest, I've had it freeze that's about the worst for me. I set up my AI mandates as soon as it was possible and now I've got most (75%?) of what I want. It's fairly intuitive, in that it's reasonably obvious how it works. I've read up on each of the loans, then worked what I'd be happy to invest & pumped that figure in. That tends to be a couple of hundred, some more some less. But it has been said you need to think in hundreds atleast and not tens. Start small if you want to be safe and when you can see better how it works... I think it's the 'least invested' who are first in the queue, that statement can be read several ways. If you can tell us how things work out and what you learn. It's often by people who are learning saying something that I understand something better or I realize that I didn't understand it in the first place.
|
|
dorset
Member of DD Central
Posts: 281
Likes: 187
|
Post by dorset on May 31, 2014 16:08:05 GMT
Thanks for the advice - will consider giving it a go sooner rather than later.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on May 31, 2014 16:14:22 GMT
I started with AC at the end of April to find that everyone else seemed to be enjoying some kind of cash-back and there was very little to invest in. I bid a fair amount in one loan (for lack of anything else to do) this then spent the month tied up and was finally released back to me yesterday as it unravelled. Lesson learned I will stick to the AM unless there is anything small and really juicy coming up. I went through completed loans and set up AIs fairly early on. Over the month I have picked up a 17 different units and have a further bid in (which should drawdown quickly). About five of the 17 units were picked up by the AI, the rest were a question of being in the right place at the right time, some were picked up manually even though I had set up an AI. Fridays seem to be a good day for the AM for me. ......................I think it's the 'least invested' who are first in the queue, that statement can be read several ways.................... This one I don't agree with, unless there's a really big Q I'm not aware of, I have 7 AIs that have completely failed to buy me anything over the month despite having nil in the first place. - or perhaps I'm reading it the wrong way? Anyway, still finding how it goes, and if more comes up I will put more money in, but I want to keep as diversified as possible. I've also had the dubious pleasure of a bid unwind, and a likely default, so the more different units the better in my book. Dorset I would advise you to set the AI, I'm sure it'll pick at least something up for you, the only downside is needing to leave cash in your account doing nothing until you have the units you want. |
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on May 31, 2014 16:16:13 GMT
Thanks for the advice - will consider giving it a go sooner rather than later. Sorry I posted a bit too late, hadn't seen this, yes I agree.
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on May 31, 2014 17:15:35 GMT
I heard on the grapevine on Friday that there are some new and potentially very interesting loans due to be launched in the very near future. One I understand is a big one so is not fill quickly and would give you a chance to get on the ladder.
Assetz can be a bit slow at time but the after market is rapidly becoming the place to do business and it really is a case of being persistent.
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on May 31, 2014 18:07:39 GMT
I heard on the grapevine on Friday that there are some new and potentially very interesting loans due to be launched in the very near future. One I understand is a big one so is not fill quickly and would give you a chance to get on the ladder.
Assetz can be a bit slow at time but the after market is rapidly becoming the place to do business and it really is a case of being persistent. , I take it that was intimated from a direct conversation you had with AC, if so, can you elaborate further. I doubt though if they gave further info as I tend to be given very brief & bullet point info whenever I've spoken to them. Understandably so until loans go on the site
|
|
|
|
Post by Ton ⓉⓞⓃ on May 31, 2014 18:48:12 GMT
Perhaps you're well aware, another thing to bear in mind is that there tends to be a rush, even a flood on the AM when shadbids or shadowbids are called in, this is Lenders trying to diversify or simply looking for cash to pay for them. Those bids are called in a 'little' time before the loan is drawn. So I make a point of have money in my a/c at these times. But as OG has said sometimes the shadowbids are called in and nothing seems to happens. star dust was saying about the queue, they also said that nothing is decided completely (open for change & debate) and that they will monitor. I was going to ask about how the queue works again after the new "Loan Book Portal" comes in, when chris & team hopefully will be fully around and answering questions about that; I'll just slip the queue question in again and see if anything's changed. I've saved a quote from chris about queuing somewhere when I find it I'll stick it here: link |
|
|
|
Post by chris on May 31, 2014 21:43:05 GMT
Do you use the AI (Auto Invest) function on AC. I understand it's of a different order than the similar on FC? I'm told by AC that millions of pounds are traded via this, and as I imagine a smaller investor I believe it's slanted towards you. (IN EDIT As you may know AI is really geared at trading in £100 units, tho' smaller parts exist, and this may change) For the moment I'm concentrating on one platform until I have it down. , I would go further than that, and say AC, despite having a minimum bid of £20, is really geared around £100 units. That will be changing sooner rather than later. I have permission to split loan units from our compliance officer and legal dept, just needs coding. Many other changes in the pipeline geared around helping people get started with the platform.
|
|
|
|
Post by chris on May 31, 2014 21:47:39 GMT
Perhaps you're well aware, another thing to bear in mind is that there tends to be a rush, even a flood on the AM when shadbids or shadowbids are called in, this is Lenders trying to diversify or simply looking for cash to pay for them. Those bids are called in a 'little' time before the loan is drawn. So I make a point of have money in my a/c at these times. But as OG has said sometimes the shadowbids are called in and nothing seems to happens. star dust was saying about the queue, they also said that nothing is decided completely (open for change & debate) and that they will monitor. I was going to ask about how the queue works again after the new "Loan Book Portal" comes in, when chris & team hopefully will be fully around and answering questions about that; I'll just slip the queue question in again and see if anything's changed. I've saved a quote from chris about queuing somewhere when I find it I'll stick it here: linkThe queue system hasn't changed yet but a new spec has been agreed internally and will be implemented shortly. It'll see fairer and more complete sharing of the loan units to try and give equal opportunity to all. The sales team are also working on greater flow of loans in order to help diversification and to balance supply and demand.
|
|
|
|
Post by Ton ⓉⓞⓃ on Jun 1, 2014 8:29:31 GMT
Auto invest does appear to be working but I cannot for the life of me make any sense of the "Your Auto-Invest Activity" section. Has there been an explanation of it anywhere? Perhaps chris will jump in here and do the honours as an AC update is always nice. I'm fairly sure the topic is gone thru' in the AI thread but then they changed how it works as a result of what was said there. In my activity I can see statements where it seems to be saying that it about to buy, "Buying units in..." for me; mostly nothing happens, in that it doesn't buy, and others maybe different, it's because AI trying to buy for example another £20 in London Law as AI is trying to get to my mandate total, which is now about £20 less than it was as the Borrower has paid me back £20 capital, but as most units are £100's it can't actually do that at least not until AC is allowed /and coded to do it. With Loan 47 AI is constantly trying to buy 1.6500000000000057, similarly for several others. Other Lenders maybe seeing something different? I take it to me that I was/am at the front of the queue for that stock, and I seem to stay there for a while...
|
|
|
|
Post by chris on Jun 1, 2014 9:57:15 GMT
Auto invest does appear to be working but I cannot for the life of me make any sense of the "Your Auto-Invest Activity" section. Has there been an explanation of it anywhere? Perhaps chris will jump in here and do the honours as an AC update is always nice. I'm fairly sure the topic is gone thru' in the AI thread but then they changed how it works as a result of what was said there. In my activity I can see statements where it seems to be saying that it about to buy, "Buying units in..." for me; mostly nothing happens, in that it doesn't buy, and others maybe different, it's because AI trying to buy for example another £20 in London Law as AI is trying to get to my mandate total, which is now about £20 less than it was as the Borrower has paid me back £20 capital, but as most units are £100's it can't actually do that at least not until AC is allowed /and coded to do it. With Loan 47 AI is constantly trying to buy 1.6500000000000057, similarly for several others. Other Lenders maybe seeing something different? I take it to me that I was/am at the front of the queue for that stock, and I seem to stay there for a while... AI is pretty primitive in the way it handles the aftermarket at the moment, if there's a loan part that fits then it'll buy it but there is a certain amount of parallelism so it's possible for others to buy the unit before your request gets fulfilled. Equally there are conditions after the system indicates it wants to buy that can stop it from doing so, and those aren't clear in the logs which is adding to the confusion. In roughly 1 months time there will be a complete re-release of AI and in particular the way it handles the aftermarket. It will be able to break apart loan units into smaller chunks, allowing any size of request to be fulfilled should there be sufficient loan units available for sale, and it will also be able to merge loan units back together to minimise the number of "chunks" the system needs to keep track of. The latter isn't so important at this stage, so there's a high chance its introduction will be delayed if we're under time pressure (when aren't we?!), but will be a nice to have in the future as the volumes and therefore size of the database increase. At the same time we'll be releasing our more balanced approach to the aftermarket queue which will be based upon a weighted random factor, so your current investment in a loan, level of diversification amongst our loans, length of time you've been waiting in the queue, and percentage of your capital that is waiting to be deployed will all be taken into account in a weighted lottery. In addition large sales of loan units, such as when an underwriter releases their units, will be distributed amongst all those in the queue rather than concentrated at the head of the queue albeit with the possibility of some weighting. As we'll be able to divide loan units we'll no longer need to work in £100 chunks which should help smaller investors significantly. This will all be part of a large package of upgrades that we'll be formally announcing in due course, so please bear with us whilst we pull it all together.
|
|
