ashtondav
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Post by ashtondav on Oct 11, 2019 15:58:38 GMT
Ironic really. They raised £300 million and their market capitalisation is now £340 million. Even allowing for cash burn the share price must be near bargain basement price if it has any future.
Am I tempted to buy? Hmmmm, think i’ll Await their next announcement.....
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ashtondav
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Post by ashtondav on Oct 11, 2019 13:12:50 GMT
I think I'll post it on Trust Pilot just to be sure. Do do that if you want the queue to lengthen. I am not selling and did not receive the email.
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ashtondav
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Post by ashtondav on Oct 9, 2019 18:25:54 GMT
Oh there are buyers. We just don’t want your cr*p. Why would I buy what you want to sell?
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ashtondav
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Post by ashtondav on Oct 9, 2019 18:23:44 GMT
It definitely looks like it will be on next weeks g**** d******. Will be interesting to see the cock ups that went into losing my money. Surprised more people are not more angry about this one. Total disaster. I think most of us have long ago gone past the “anger” stage (Kubler Ross five stages of grief) and have finally arrived at “acceptance” with FC. Hence the running down and selling out responses. Notice however that we have some forum posters still in stage one (denial) who believe that the 2019 loan book is packed with quality.Ah, but it is you bitter old sell out you.
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ashtondav
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Post by ashtondav on Oct 9, 2019 12:21:15 GMT
Preventing lenders selling would only achieve one result: a very rabid headline in The Daily Mail.
The problem will self correct after Christmas because, as seen on page 1 of this thread selling is slowing. The peak was May and June.
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ashtondav
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Post by ashtondav on Oct 8, 2019 14:53:23 GMT
Thanks for the feedback so far - apologies for today's website issues, we've had some temporary glitches relating to the new developments. To continue to receive the monthly print edition, you will need an annual subscription - www.p2pfinancenews.co.uk/subscribe/With regard to the content, we frequently break exclusives and certainly do not shy away from covering PR-unfriendly issues - if you take a look over articles from the past week, we've written about Lendy, defaults at The House Crowd and investor concerns at MoneyThing. As I previously mentioned, the revenues from subscriptions will be used to invest in our editorial team and improve the quality of our content. We do as much as we can as a small and growing business, but there are plenty more stones left unturned and campaigns we wish to launch, as well as information products. Again, happy to receive any feedback here or at suzie@p2pfinancenews.co.uk. Kind regards Suzie Oh well I guess thats one more document less to read, the latest one is still on the floor in my pile of catchup I guess the next one won;t come until I stump up which isn't likely to happen. Back to the times I guess. I'm not sure it was really for the likes of myself anyway as macq says it's just too much for so little gain, Sorry but thanks for the brief look at what was perhaps useful on small stage to my meagre 5 figure investment in peer to peer. Lets hope this site forum does not start charging as well but there are numerous online places to find info that I need on a daily/weekly basis. And that is the trouble with t’internet age. No one wants to pay for content, and yet someone has to be paid to generate content.
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ashtondav
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Post by ashtondav on Oct 8, 2019 12:23:26 GMT
I would imagine Funding Secure must be top of the list. They have “6 month loans” which have not redeemed after 1 year and they are still not classed as defaults. Assetz have ‘fessed up to a turbine blunder. FS has 30 or 40 loans in my account alone which have gone t1ts up due to no DD, no security held, borrower fraud and cr@p valuations. ashtondav , Unfounded speculation could get you into very serious trouble. Although FS has many problem loans it is not insolvent, and the new directors have deep pockets. Moreover the latest loans on the platform are performing well. The new directors are working hard to recover the problem loans and we should see significant recoveries in the next few months, as a result of their actions against some dodgy borrowers and valuers. Nonsense. There is a deafening silence on many of the problem loans. And as for not “defaulting” loans that are 3 years overdue...
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ashtondav
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Post by ashtondav on Oct 8, 2019 8:48:51 GMT
It could be worse. At least it’s not defaulted - 3 years into a 6 month loan!
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ashtondav
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Post by ashtondav on Oct 7, 2019 13:35:04 GMT
There's a big article about P2P on pages 44 and 45. 'A further platform is teetering on the brink of insolvency' apparently. Any ideas which one? I would imagine Funding Secure must be top of the list. They have “6 month loans” which have not redeemed after 1 year and they are still not classed as defaults. Assetz have ‘fessed up to a turbine blunder. FS has 30 or 40 loans in my account alone which have gone t1ts up due to no DD, no security held, borrower fraud and cr@p valuations.
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ashtondav
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Post by ashtondav on Oct 6, 2019 7:34:19 GMT
I deposited some money on the 3rd. Is early November realistic for matching?
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ashtondav
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Post by ashtondav on Oct 5, 2019 14:13:50 GMT
150% here. Conservatively invested 1% in each of 100 loans. 49 have been running for over 250 days with no sign of money. The good news? Only 16 of the 49 are classed as unredeemed
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ashtondav
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Post by ashtondav on Oct 3, 2019 15:50:33 GMT
Nothing new here. This content could all have been read ad nausea on this forum over the last 18 months. There are three scenarios: FC bring the 2019 loan book under control which means that there is slower growth which means continuing reported losses which when the penny drops wipes out the new IPO shareholders. FC goes for growth and hence continues to be beset by defaults in the 2019 loan book which leads to a fall in lenders plus increased lender withdrawals which when the penny drops wipes out the new IPO shareholders. IPO shareholders realise eventually that they might have been part of an IPO scam and go for a class action against the founders and reporting accountants. This takes forever and still means a wipe out for the IPO new shareholders. My only hope is that FC keep going as long as possible so as to keep in place the recovery team that are working so energetically on my 300+ defaults. As a plus I am now getting daily recoveries as some of my defaults over the last 20 months start to go into recovery – now 32.28% on 342 defaults. On the defaults, what is their fee structure, I read somewhere they take a 40% cut on any recoveries? Forget about IPO scam. Aston Martin’s share price is down about the same 80%. Sh1t happens in the equity markets. I’ve done better as a FC lender than a FC share holder. Anyone who invests in a loss making IPO IS BARMY. Luckily for those seeking a sale of a private company there is no shortage of barmy investors who believed in revenue growth of 40%pa.
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ashtondav
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Post by ashtondav on Oct 2, 2019 15:28:41 GMT
My ballpark for lending through RS is about 6%. I am prepared to have the money on the market for four or five weeks before withdrawing and lending through LW.
The rate on LW is 6.5%, but I consider it riskier than RS so would like to remain in the latter. In a blended RS LW portfolio to get my 6% I could lend at LW at 6.5% and RS at 5.5%.
So do you RS experts expert to see 5.5% on 5 year money in the future given the new products? I’m not talking about 5.5% being the “going rate”, but whether if I set my rate at 5.5% i’m Likely to get a nibble every month or two.
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ashtondav
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Post by ashtondav on Oct 1, 2019 13:22:11 GMT
Or you could just let the loans run out. It's surprising how quickly they self liquidate and there is a view that the longer the loan progresses the more likely defaults are to fall away. I had about £50k over 1650 loans in September 2017 and am now down to about £9k or so over 600 loans. Happy days apart from the fact that I am on a loss - interest and recoveries almost equalling new defaults. Cannot imagine why on earth anyone would lend through FC at the current stage in its development (or decline/demise/disintegration take your pick) Er, well of course your returns are dismal if you’re running down your loan book. Eventually you will only be left with defaults and late payers. On my still active account I’m getting about 4.2% in 2019
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ashtondav
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Post by ashtondav on Sept 30, 2019 13:09:03 GMT
Surely gbba lenders in the turbines should be covered by the PF?
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