mary
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Post by mary on May 25, 2017 6:55:29 GMT
Think only a big repayment is going to get things back in balance!
All my spare went to MT.
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lobster
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Post by lobster on May 25, 2017 7:27:47 GMT
Think only a big repayment is going to get things back in balance! All my spare went to MT. There is also the end-of-month interest payment cycle to come within the next few days, which often results in freeing up the SM.
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IFISAcava
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Post by IFISAcava on May 25, 2017 8:08:54 GMT
Eye-opening to see large sums currently available in 12% loans with 300+ days to run But are people just freeing up for the big 12% er today, or something else at play? Perhaps the supply of 12/13%ers with long terms has been good just recently so can diversify between them a bit more?
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mrflush
Member of DD Central
This is not me
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Post by mrflush on May 25, 2017 8:13:12 GMT
There is also the end-of-month interest payment cycle to come within the next few days, which often results in freeing up the SM. Bit pedantic I know, but it's actually a week away.
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elliotn
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Post by elliotn on May 25, 2017 10:13:13 GMT
Eye-opening to see large sums currently available in 12% loans with 300+ days to run This will be my criteria for changing tack (only holding 12%, 299D+). Monitoring closely.
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vmail
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Post by vmail on May 25, 2017 10:15:47 GMT
I'm swapping my 200days to 300days
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elliotn
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Post by elliotn on May 25, 2017 10:18:48 GMT
I'm swapping my 200days to 300days Yes, completed that exercise Sat/Mon.
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TonyL
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Post by TonyL on May 25, 2017 11:13:45 GMT
100 days to 200 days...200 days to 300 days...you guys are funny. I doubt you'll be able to outrun the situation forever. What next 300 days to 400 days, 500 days... Eventually you'll have just one big pile in the only 1000 day loan on the platform and nowhere to dump it except the same SM with everyone else.
Many investments have a certain 'pyramid'-scheme likeness...i.e. as long as there are more buyers coming in underneath then all is well. But sooner or later you're going to be left holding your investment. To quote Buffet "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes."
My advice would be - Either don't lend to it if you don't have confidence it will pay back or don't lend more than you're willing to risk losing.
Incidentally, I don't know how many of you check the investor numbers on Lendy, but it's really slowed down since early April...just saying.
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mary
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Post by mary on May 25, 2017 11:31:39 GMT
100 days to 200 days...200 days to 300 days...you guys are funny. I doubt you'll be able to outrun the situation forever. What next 300 days to 400 days, 500 days... Eventually you'll have just one big pile in the only 1000 day loan on the platform and nowhere to dump it except the same SM with everyone else. Many investments have a certain 'pyramid'-scheme likeness...i.e. as long as there are more buyers coming in underneath then all is well. But sooner or later you're going to be left holding your investment. To quote Buffet "If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes." My advice would be - Either don't lend to it if you don't have confidence it will pay back or don't lend more than you're willing to risk losing. Incidentally, I don't know how many of you check the investor numbers on Lendy, but it's really slowed down since early April...just saying. Good point, if confidence disappears the SM will be swamped and nothing will move.
Therefore, I have changed my strategy and am only focusing on quality that I think will repay, and I intend to hold to the end. This means mainly DFL or low LTV PBL. It does make it harder, but hopefully lower risk.
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GeorgeT
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Post by GeorgeT on May 25, 2017 12:09:29 GMT
Gone live.
Asked for £2k. Got 2k.
1,599 investors at live.
£14k on SM.
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twoheads
Member of DD Central
Programming
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Post by twoheads on May 25, 2017 12:12:32 GMT
Max prefund allocation was £4400.
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vmail
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Post by vmail on May 25, 2017 12:13:33 GMT
Asked for £60k, got £4,400.00. £3,503 on SM
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GeorgeT
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Post by GeorgeT on May 25, 2017 12:16:06 GMT
SM surplus wiped clean in 5 minutes.
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Post by robberbaron on May 25, 2017 13:10:30 GMT
As regards my strategy being reckless I would remind you that I have never lost a penny. Not everybody can say that. Therefore the evidence does not bear out your assertion. That doesn't prove anything. Pretty sure Madoff's clients and Dotcom bubble investors were patting themselves on the back for never losing any money until they did.
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GeorgeT
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Post by GeorgeT on May 25, 2017 13:33:55 GMT
As regards my strategy being reckless I would remind you that I have never lost a penny. Not everybody can say that. Therefore the evidence does not bear out your assertion. That doesn't prove anything. Pretty sure Madoff's clients and Dotcom bubble investors were patting themselves on the back for never losing any money until they did. My comment was a wider one, not just related to LY where I know that nobody has lost a penny, not even those invested in defaulted loans. I am a cautious person by nature and have been investing/saving money for nearly 40 years through a variety of means. I have been very careful and cautious, and been successful. I bought all my properties at the bottom of the market and sold at the top, and with other investments I have been cautious enough to quit while ahead and in good profit. I am monitoring this platform on a daily basis and was considering a total exit around Dec/Jan. However I decided that with more intensive daily portfolio management I could stay for another 6 months or so. I have had to adjust what I invest in and when I sell accordingly, as have many others. However I am finding this platform is now becoming too labour intensive in order to stay one step ahead of the curve. I am having too many very late nights doing buying at 1am and 2am when the juiciest fruits sometimes appear. In just 2 months, 60 days changed to 100 days and now it is 200 days. It would appear 300 days will soon become the new 200 days which means I will only feel confident enough to use this platform for short term cash dumps in new long dated, 12% loans. Particularly as there are younger platforms which are pretty much where LY was 2 years ago, with better rates and better liquidity. I am continuing to reduce my exposure here and am now up to 15% of my total in sale queues again - all (with 1 exception) in potentially very saleable loans that I am hopeful of being shot of by this time next week. That cash will be returning to the safety of my bank account awaiting new opportunities, either here or elsewhere. I am determined that I will not be here when the bubble bursts.
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