sg
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Post by sg on Mar 20, 2017 15:32:20 GMT
Spread the money though as many platforms / asset classes / loans / individual borrowers as you can, but only select the loans that look ok to you. The 1% rule is difficult to apply as most of the P2P platforms don't have enough good loans with unique borrowers to do that.
It's horses for courses on different platforms. On SS I have 21 loans but there's only another 3 I would invest in if I could.
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Liz
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Post by Liz on Mar 20, 2017 15:57:11 GMT
I would aim for 2-3% in one loan that I invest in, but would go to 7-8% for the right lower risk loans. I would rather stick with 2 or 3 good platforms, than diversify into small higher risk platforms.
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dzo
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Post by dzo on Mar 20, 2017 18:29:16 GMT
I don't know why people think the number of loans in the default tab makes any difference. Under the old policy most of them wouldn't be there, but they'd be just as risky.
Whether a loan is more than 180 days overdue is a fairly arbitrary definition of default.
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Post by GSV3MIaC on Mar 20, 2017 20:12:23 GMT
/mod hat off
It's certainly a rather loose and flexible definition .. most people would say it's defaulted if the borrower has not been paying the interest due when they should have done so (or broken any of the other T&Cs on their loan agreements, which we are still waiting to see .. mystical how we can have a P2P agreement with a borrower without knowing what we've all agreed to).
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sg
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Post by sg on Mar 20, 2017 20:36:49 GMT
/mod hat off It's certainly a rather loose and flexible definition .. most people would say it's defaulted if the borrower has not been paying the interest due when they should have done so (or broken any of the other T&Cs on their loan agreements, which we are still waiting to see .. mystical how we can have a P2P agreement with a borrower without knowing what we've all agreed to). That's one of the things I don't understand about P2P. The loan agreement is between lenders (us) and borrowers, so how can the platform then arbitrarily decide what is a default & what is not. I can understand how they could write a default mechanism into a standard contract and then state that these were the terms both lender and borrower agree to, but what gives them the right to default an agreement at their own whim ? This applies to any platform, not just SS.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 20, 2017 20:40:45 GMT
/mod hat off It's certainly a rather loose and flexible definition .. most people would say it's defaulted if the borrower has not been paying the interest due when they should have done so (or broken any of the other T&Cs on their loan agreements, which we are still waiting to see .. mystical how we can have a P2P agreement with a borrower without knowing what we've all agreed to). You want to see somthing funny.... I refer you to the following from the SS T&Cs... Come on then Paul64... let's hear it... how on earth do we know if we are breaching the 'Loan Contract' if we can't bloody see it...
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Liz
Member of DD Central
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Post by Liz on Mar 20, 2017 20:55:11 GMT
Let's hope they don't bring in a clause saying we can be banned for criticising them on a public forum.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 20, 2017 21:21:44 GMT
/mod hat off It's certainly a rather loose and flexible definition .. most people would say it's defaulted if the borrower has not been paying the interest due when they should have done so (or broken any of the other T&Cs on their loan agreements, which we are still waiting to see .. mystical how we can have a P2P agreement with a borrower without knowing what we've all agreed to). You want to see somthing funny.... I refer you to the following from the SS T&Cs... Come on then Paul64 ... let's hear it... how on earth do we know if we are breaching the 'Loan Contract' if we can't bloody see it... Erm, I think that refers to borrowers, as do most of the following clauses. Think you might need a visit to Cyberdyne for a check up. Thats your second erroneous post today 
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 20, 2017 21:32:43 GMT
You want to see somthing funny.... I refer you to the following from the SS T&Cs... Come on then Paul64 ... let's hear it... how on earth do we know if we are breaching the 'Loan Contract' if we can't bloody see it... Erm, I think that refers to borrowers, as do most of the following clauses. Think you might need a visit to Cyberdyne for a check up. Thats your second erroneous post today I must be having problems with my memory chip as well, because I can't remember the first erroneous post In this case, I don't think so - it is the T&Cs for SS members, and I see no mention of that section being for borrowers... Section 14 - "Terminating your membership of Saving Stream"
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 20, 2017 21:52:06 GMT
Erm, I think that refers to borrowers, as do most of the following clauses. Think you might need a visit to Cyberdyne for a check up. Thats your second erroneous post today I must be having problems with my memory chip as well, because I can't remember the first erroneous post In this case, I don't think so - it is the T&Cs for SS members, and I see no mention of that section being for borrowers... Section 14 - "Terminating your membership of Saving Stream" I was assuming this was typo p2pindependentforum.com/post/176796/threadas youve jumped from SBL to DEF but maybe that was an SS error and I hadnt noticed it. In which case I apologise. Ok, I concede probably relates to lenders. I apologise for my blasphemy and suggesting you were fallable  I shall flagalate myself with a cooling element and sleep in the fridge in penance.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 20, 2017 21:57:03 GMT
I must be having problems with my memory chip as well, because I can't remember the first erroneous post In this case, I don't think so - it is the T&Cs for SS members, and I see no mention of that section being for borrowers... Section 14 - "Terminating your membership of Saving Stream" I was assuming this was typo p2pindependentforum.com/post/176796/threadas youve jumped from SBL to DEF but maybe that was an SS error and I hadnt noticed it. In which case I apologise. Ok, I concede probably relates to lenders. I apologise for my blasphemy and suggesting you were fallable I shall flagalate myself with a cooling element and bathe in ice cubes in penance.  Not a SS error - indeed a CD error (not even a typo - still getting used to the SBL & IA terminology... maybe I do need an upgrade  ) - now corrected Sounds cosy 
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 20, 2017 22:42:02 GMT
I wandered into the clutches of AC in order to "Diversify", and promptly got burned.
Learned my lesson, hunkered down and licked my wounds, and haven't been back to AC since.
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GeorgeT
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Post by GeorgeT on Mar 20, 2017 23:47:44 GMT
Good topic that has prompted me to do some investigations into my own position. (I don't run spreadsheets or anything like that).
I have money invested with 3 platforms - SS, AC and MT. As follows:
SS - 55%
AC - 24%
MT - 21%
The reason I stick to 3 is because I don't feel able to manage more than 3 platforms at once. If I was in multiple platforms I would get in a muddle. This way I know in my head what I've got where and what portfolio management I need to do. I feel that is safer than being in umpteen platforms and not having the time to keep a daily beady eye on them all, and the latest developments. I would like to up my % in MT and reduce my % in SS and get towards platform parity but owing to shortage of new opportunities on MT compared with SS, this is proving difficult.
I am invested across 34 different loans on SS. As follows (sorry if this list makes for a very long post, mods feel free to delete my list of which loans I'm currently in):
DFL001
DFL002
DFL003
DFL004
DFL005
DFL006
DFL007
DFL008
DFL009
DFL012
DFL013 (Selling down)
DFL017
DFL019
PBL098 (Selling down)
PBL103 (Selling down)
PBL107
PBL108
PBL120
PBL122
PBL126
PBL130
PBL132
PBL133
PBL140 (Selling down)
PBL142 (Selling down)
PBL143
PBL147 (Selling down)
PBL150
PBL151
PBL155 (Selling down)
PBL156
PBL158
PBL160
PBL162
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c702
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Post by c702 on Mar 20, 2017 23:53:41 GMT
Good topic that has prompted me to do some investigations into my own position. (I don't run spreadsheets or anything like that). I have money invested with 3 platforms - SS, AC and MT. As follows: SS - 55% AC - 24% MT - 21% The reason I stick to 3 is because I don't feel able to manage more than 3 platforms at once. If I was in multiple platforms I would get in a muddle. This way I know in my head what I've got where and what portfolio management I need to do. I feel that is safer than being in umpteen platforms and not having the time to keep a daily beady eye on them all, and the latest developments. I would like to up my % in MT and reduce my % in SS and get towards platform parity but owing to shortage of new opportunities on MT compared with SS, this is proving difficult. I am invested across 34 different loans on SS. As follows (sorry if this list makes for a very long post, mods feel free to delete my list of which loans I'm currently in): DFL001 DFL002 DFL003 DFL004 DFL005 DFL006 DFL007 DFL008 DFL009 DFL012 DFL013 (Selling down) DFL017 DFL019 PBL098 (Selling down) PBL103 (Selling down) PBL107 PBL108 PBL120 PBL122 PBL126 PBL130 PBL132 PBL133 PBL140 (Selling down) PBL142 (Selling down) PBL143 PBL147 (Selling down) PBL150 PBL151 PBL155 (Selling down) PBL156 PBL158 PBL160 PBL162 That is interesting, I personally decided to invest in 3 for the same reasons. Currently I'm with SS and Ratesetter and I'm considering ABLrate as they seem to have a good reputation so far, SS has made me a tad nervous of late though. Did you do due diligence on every single one of those loans out of curiosity? At this point I'm with the fella who previously posted that it might be better to pick a small number of loans you can be more certain of.
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GeorgeT
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Post by GeorgeT on Mar 21, 2017 0:18:01 GMT
I do a max of 5 or 10 mins DD on Google for each new loan (googling basic details that are provided), and I check this forum daily so benefit from the comments of others. If anything looks very iffy I avoid - like the Ch**et. Although, I did have a small punt on the Rivie** (same borrower). My reasoning there was that it was a smaller loan and if the brown stuff hit the fan I would have more chance of bailing out.
All my investments are in loans between 11% and 13% (with exception of AC where I have some cash in their 30 day and QAA accounts).
I won't even consider any loans on SS or MT below 11%. Not worth the risk IMO.
Also, I never hold a loan to the notional term end date on SS. Once it gets to 60 days or so I'm in sell down mode with a view to total exit by 30 days to run.
My position on MT is more relaxed and I monitor loan end dates less vigorously on MT than on SS, and have held some to repayment or end/roll over. Don't ask me why but I feel greater trust in MT's DD and updates than I do with SS's where I feel there is a greater onus on the investor. Perhaps my extra confidence in MT is misplaced and influenced by their superior communication style/transparency and I will get burnt.
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I shall flagalate myself with a cooling element and sleep in the fridge in penance.
) - now corrected