ashtondav
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Post by ashtondav on Jul 30, 2019 10:56:49 GMT
I’ve had a few wedges loaned out at 6% in the last week or so.
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ashtondav
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Post by ashtondav on Jul 29, 2019 13:09:18 GMT
The Investment Trust is also a forced seller. Are they in this queue or are their loans sold off in bulk? And what about the IT’s “unsellable loans”?
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ashtondav
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Post by ashtondav on Jul 29, 2019 7:29:02 GMT
So, did only one poster on this forum get to attend?
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ashtondav
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Post by ashtondav on Jul 24, 2019 20:03:48 GMT
A new low today. The dead cat has been run over by a steam roller. Yes, that’s why they exited that market. The risks of equity investment are far higher. Compare and contrast holders of Woodford Equity Income Fund with FC moaners who complain of a 2 month delay in selling. WEIF holders would love to sell out in 2 months. And they’re nursing losses far higher than any FC investor. Risk investments are, errr, risky. You no like risk? Go to the BS..,,
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ashtondav
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Post by ashtondav on Jul 24, 2019 16:44:13 GMT
Well RS bests my return at FC! So far...
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ashtondav
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Post by ashtondav on Jul 24, 2019 16:40:03 GMT
It's not a 5 year product its a rolling product which you can exit by winding down loans naturally (over 6 months to 5 years) or sell as a lump sump to other investors. Now the marketing on the latter is highly misleading because selling times do not depend primarily on investor demand but on Funding Circle itself. It still doesn't even say on the front page that FC has unusually long sell times, that they are increasing and what their ultimate target is. This should be transparent. Exactly, the two who responded to my original comment maybe have ego issues and need to be seen as sophisticated lol. Almost 3 months withdrawal is ridiculous and i am not earning interest while it sits in the selling status. It’s a 5 year product, if you are in wind down it will take, Er, 5 years. There is no automatic right to sell early especially if that offloads your cr@p loans to new borrowers. You have made an investment mistake not realising that there is downside risk in loans.
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ashtondav
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Post by ashtondav on Jul 23, 2019 10:40:58 GMT
Its crazy thats its been over 70 days to sort this mess. I dont know how anyone can justify keeping money in when it takes this long to withdraw. The whole incentive was that it was slightly more lucrative returns than a savings account and yet still as liquid. Nationwide offer 5% on £2500, which is about the same as my returns % now at 4.9% which used to be 7-8% when i started FC in 2016. Nope. FC never made any claim that the investment was liquid. It was a 5 year product with a secondary market. Your comments illustrate why the FCA ought to have restricted this p2p to sophisticated investors.
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ashtondav
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Post by ashtondav on Jul 19, 2019 16:44:50 GMT
We’ll blow me down, if big Z haven’t just emailed to say they have matched loans to give an estimated 6.6% in plus.
Lets hope that’s a better estimate than that which gave the missus her 2.6%, eh Zopa.
We wait with baited breath and wallets held tightly closed against a heaving chest.
So, 2.6% or 6.6%? Do ya feel lucky, punk?
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ashtondav
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Post by ashtondav on Jul 19, 2019 16:01:21 GMT
Yep, a very large number. Even that didn’t stop the missus achieving 2.6% in plus - lower than a BS 5 year fix!
zopa, like FC, dropped their underwriting standards a year or so back so defaults on both platforms have increased.
From a commercial perspective I would imagine Zopa look at the FC share price with horror: “there but for the grace of god...”
Zopa won’t float until it’s a bona fide bank. No one will touch p2p shares after the 80% hair cut FC backers received. Which is a shame ‘cos as an early adopter I still have some share options rotting in the attic.
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ashtondav
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Post by ashtondav on Jul 17, 2019 12:03:47 GMT
But Assetz has the provision fund...
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ashtondav
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Post by ashtondav on Jul 17, 2019 8:09:01 GMT
From a personal perspective I am reassured by lengthy testing of a financial product. The answer to “when?” Should be: after it has been robustly tested.
Sometimes you can’t put a timescale on such things, and if you’re in a hurry go to the already tried and test RS or AC products.
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ashtondav
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Post by ashtondav on Jul 16, 2019 17:23:47 GMT
Winners: new lenders and re-investors.
Losers: those selling out.
Didn’t you read the risk warnings? Vodafone share price lost over 80% c2000 2001. Still in business, still pumping out dividends. You lot are why the FCA is right to plan limiting p2p to “sophisticated” investors.
My average return from p2p platforms canes my FTSE100 tracker in the last 12 months.
But I reiterate, I may well be wrong. Cat food vs caviar report come new year..
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ashtondav
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Post by ashtondav on Jul 15, 2019 17:07:17 GMT
Good afternoon B Thank you for your email. We are aware that this information has been removed from the website and have raised your feedback with the relevant team. Kind Regards Leighton RateSetter Customer Service Er, what information? I can’t find your previous post, B, that references the loss.
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ashtondav
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Post by ashtondav on Jul 15, 2019 17:01:25 GMT
116.69 GBX −5.51 (4.51%) Heading for new lows. The dead cat has well and truly bounced. I have 2/3/4 weeks before my next sale goes through, if I get my cash out I'll be very happy. You mistake the misfortunes of the shareholder with the better fortunes of the lender. This is easy to do if you take a simplistic approach. The shareholder is suffering because FC have lowered revenue guidance because they are targeting better quality borrowers. The lenders (those who aren’t flogging their cr@p) are benefitting by exposure to this new policy and not being diluted by the sale of the cr@p - which is why sales are taking too long. So FC are quite rightly prioritising the new lenders, and reinvesting lenders, over the short term sellers and shareholders. Seems very sensible to me. I do maintain a healthy scepticism and have previously said I will report at year end whether i feast on cat food or caviar....
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ashtondav
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Post by ashtondav on Jul 15, 2019 16:55:13 GMT
30m apparently just gone in from the Merseyside Pension Fund. Hopefully speed things up a bit. That's good, though I expect that will not be used to buy the underperforming cohort of loans on the SM. It will help funding of shiny new loans which should allow our rubbish to be offloaded onto a new bunch of unsuspecting suckers. I'm next on the list, yippee!
Yep, they will mix your rubbish in with the n ew stuff to deliver the new expectations. It’s why I’m not bothering to sell. And why I’m confident my reinvestment will be buying an appropriately low level of your stuff...
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