ashtondav
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Post by ashtondav on Mar 16, 2021 16:40:58 GMT
Comparing p2p with equities is comparing apples and oranges. If you’re comparing p2p with anything compare it to the credit and bond markets. Unfortunately the industry branded some of its accounts “access” when, of course they are five year accounts.
but, and it’s a big but, unlike in say the NASDAQ in year 2000 no one in the big 4 p2p companies lost 80% of their money and didn’t see it get back to break even for over 15 years. No, for the most part they continued to receive interest in excess of risk free rates for the duration of the pandemic. Yes, they may have received less than “expected” interest but flippin heck we’ve just had the worst recession ever and you’re in a lending product. OK access to capital hasn’t been up to expectations because of abnormal conditions, but in the meantime that capital has been earning a decent inflation adjusted return.
So, it will take some time for confidence to return and the market to rid itself of the deluded, the injured, the upset, the ill informed and the plain unlucky, but after that I would expect it to continue to deliver very attractive returns compared to cash savings.
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ashtondav
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Post by ashtondav on Mar 13, 2021 18:52:45 GMT
P2p is a very viable asset class. Equities go up and down like a whore’s drawers and still below 2000 levels. Yes if your timing is good returns are good. BS interest is zilch. Gold down 20% last few months. Coulda done well in bitcoin and Nasdaq I guess. But for getting 4% a year? Nothing to match p2p. And yes, the losers will whine - whatever asset they’re in.
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ashtondav
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Post by ashtondav on Mar 13, 2021 10:17:54 GMT
As can be seen from the URL, the above 'article' was released on the 8th. Toward the bottom there's a comment / link: " For example, Assetz Capital has received a huge spike in transfer ins from these lenders" which takes the reader to an article titled: "Assetz eyes £100m in new IFISA money" from February. I was going to comment on the mismatch between AC being willing and able to absorb £100m of new funds and P2PFN reporting it as a huge spike, but couldn't be bothered. Today, four days later, P2PFN actually do release an 'article' titled " Assetz Capital reports spike in IFISA transfers from RateSetter investors" and, sure enough, AC quote some facts and figures supporting that headline. I don't know how P2PFN think they can justify charging a subscription fee when the their content is regurgitated tweets and advertorials.... (Hint: Incognito / InPrivate browsing is your friend when accessing P2PFN) As for the 'spike' article advertorial itself, I've no doubt AC have run it through compliance but there's too strong an emphasis on engendering 'FOMO' for my liking. And I note that in today's email to existing members, AC has retained the 'Access' part of the Quick / 30 Day / 90 Day Access Account product labels - almost certainly solely to annoy one or two here. For Gawd’s sake. It’s £10 per £10,000 to get out INSTANTLY. If you want out, Get out!
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ashtondav
Member of DD Central
Posts: 1,812
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Post by ashtondav on Mar 12, 2021 11:52:01 GMT
Ah, yes. 0.00% to buy 0.1% to sell.
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ashtondav
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Post by ashtondav on Mar 12, 2021 9:44:27 GMT
Tried to buy at 09:42. Was told I could invest £500 at 0.00%.
The new normal...
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ashtondav
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Post by ashtondav on Mar 7, 2021 11:42:44 GMT
£10 to release £10,000?
That’s as near to instant access as makes no difference. It shows there is real solid demand for this product, if only AC could announce the new “normal”.
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ashtondav
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Post by ashtondav on Mar 6, 2021 12:21:00 GMT
No request it just came on email, and yes I’m in the 1% club. You did check spam?
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 4, 2021 10:49:36 GMT
Been with ‘em since the heady days of 2005 and the legendary “Dave”. I still dust off my free options sometimes in the hope they’ll 1 day IPO.
Received email Saturday...
We're getting in touch to let you know that due to our recent tech work, monthly bonus payments for February are going to be a bit delayed. Sorry about this.
Instead, you'll now get two bonus payments in one go on 27th March.
Just so you know, your total monthly bonus payment for February is £ (For those with more than one investment which qualifies for a bonus, this is the total amount across all your investments.) You'll receive this on 27th March, along with your normal bonus for that month. Thanks,
The Zopa team
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ashtondav
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Post by ashtondav on Feb 15, 2021 18:21:44 GMT
I kinda think £100 to sell £10,000 shows more demand than supply. But yes, you would be £100 better off on a £10,000 sale with no discount.
Pays for a meal out i guess...
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ashtondav
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Post by ashtondav on Feb 15, 2021 12:40:45 GMT
As one can sell for a 0.1% discount (usually) I can't see it as a screaming priority. Such a low discount shows there many more wanting to put more "in" than pull more "out".
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ashtondav
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Post by ashtondav on Feb 15, 2021 10:30:51 GMT
I have been steadily withdrawing from P2P for the last year, easily and without losses and much delay from my Euro platforms but with money trapped in what was my main UK platform. I reinvested these withdrawals in ETFs and a few funds and these are currently averaging gains of over 20% plus dividends. Oh dear. The same could be said for Bitcoin. The big p2p platforms offer very good, relatively smooth returns. You have to be either VERY unlucky or VERY stupid to “lose the whole of your pension pot”. A diversified portfolio of assets such as equities, bonds, p2p, private equity and gold should be the best mix.
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ashtondav
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Post by ashtondav on Feb 14, 2021 18:46:12 GMT
Yes has to be the answer. Getting very decent, inflation busting returns over the investment life from ZOPA, FC (yes, I know), AC and RS. At least 3 times the rate i can get in the BS. But then i'm not a forced seller who will only be left with a rump of bad debt, but a long term investor.
Got burned by one (FS) and luckily i only had a few grand in that one. Managed to exit LW before they went rogue.
As for the dodgy spiv sites. Well...
P2P remains a very good defensive asset class that has survived the worst crisis since WW2, and will be all the better once it shakes out all the poor peops who thought it an instant access savings account.
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ashtondav
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Post by ashtondav on Feb 14, 2021 9:56:58 GMT
In the midst of the worst crisis since WW2 we have enjoyed returns several times higher than the risk free rates. This is no time for sniping.
Take your winnings and move on.
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ashtondav
Member of DD Central
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Post by ashtondav on Feb 12, 2021 18:54:22 GMT
why?
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ashtondav
Member of DD Central
Posts: 1,812
Likes: 1,088
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Post by ashtondav on Feb 10, 2021 18:54:42 GMT
You don't have to be paranoid to post on the AC board.
But it sure helps if you believe in conspiracy theories, an international banking attack, and they're all out to get you...
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