ali
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Post by ali on Aug 30, 2017 15:30:08 GMT
Not sure if this is a bug or a missing MT feature. When I press the withdraw button, the form is already pre-filled and I cannot change the amount (so if I have 119 GBP I cannot withdrwa only 50 GBP and leave the rest on site). Is this a bug? The amount to withdraw is one line lower than you are looking. It's probably pre-filled with your username (which is a known bug).
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ali
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Post by ali on Aug 30, 2017 10:25:16 GMT
Is it the reverse though? Given that an announcement regarding a P2P loan is most unlikely to herald an upside, surely selling on the rumour (of a downside) is similar to buying a stock on the rumour of a potential upside. I suppose it depends on what you would review as an upside When i think of most of the MT announcements they are extensions or repayments Assuming you have correctly identified the risk underlying then the repayments would have to be seen as upsides Extensions could be seen as ups, depending on if you are happy to carry on lending, I particularly have the AE loans in my mind when I think of repeatedly extended that came to a conclusion I can only put yesterday down to panic, people automatically assumed bad things, probably due to the recent issues. I think characterising people's actions as panic is unwarranted. I considered carefully the plausible updates that MT might be issuing, their likelihood, and how they might affect my view of the loan's value. I came to the conclusion that my view of the value had decreased, but not below par and therefore I didn't sell. It seems quite plausible to me that others might have gone through a similar exercise and reached a slightly different conclusion.
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ali
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Post by ali on Aug 29, 2017 20:07:01 GMT
If a CEO has a news of interest for investor, he has the moral duty to publish it to the public ASAP, not 10 hours later... (Selective quoting because I have no desire to quote what I consider to be libellous comments.) No, he doesn't. He has an duty (moral and quite possibly legal as well) to publish it to all his lenders at the same time. That may well involve a delay.
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ali
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Post by ali on Aug 28, 2017 15:06:04 GMT
Are Unbolted at work on this fine summer bank holiday afternoon, or has their autolend autoloaned? I acquired a bit of a loan on a Rolex earlier today apparently, although the transactions on site are dated Friday 25th. Indeed. The loan wasn't included in Friday's summary either and the cash balance given at that point didn't include the amount in this loan. Does it matter? We're getting paid interest from Friday so it makes no odds to me if they did it after hours on Friday or today.
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ali
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Post by ali on Aug 26, 2017 16:37:21 GMT
I'd be very sorry to lose your input. Yes, there's a danger that you leave yourself open to being knocked when things don't go as people think they should and emotions are always going to run high when people lose money. Overall however, I think your presence here does the platform a great service. On the topic of people apparently doing one thing and saying another, I would be very careful about ascribing motives without being much more certain than I think you can be. It's human nature to make a decision one day and then change you mind the next on more careful reflection or based on what others have said. I don't recall declaring in public that I wasn't going to go into a particular MT loan (although there are a number that I have declined), but if I have I certainly reserve the right to change my mind
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ali
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Post by ali on Aug 25, 2017 11:41:19 GMT
Having to trust a black box is not ideal - especially when the performance statistics are so limited. Hi, second time this week I read someone referring to a black box on this forum, what is it, where is it and what is it for? Many thanks, Phil See wikipedia
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ali
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FundingSecure (FS) in Administration
Loan book data
Aug 25, 2017 10:19:19 GMT
Post by ali on Aug 25, 2017 10:19:19 GMT
You can download your Account Movements (ie., journal) from the Account Information tab in csv or xlsx format and you can save the My Investments tab to scrap your portfolio from using libtidy or something similar. I can work out from that my net yield on closed loans, my weighted average rate for open loans and my total exposure which are the things I take care to track.
The loan book is available under All active and past loans.
What FS don't publish is the SM data (ie., what loan parts were sold at what discounts/premiums) which would be very useful. Can't have everything.
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ali
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Post by ali on Aug 25, 2017 9:18:48 GMT
On the Available Loans page, BL00046 is shown as "Fully Funded - Secondary Market Active". However, drilling down to the Loan Details page it says 86.819% funded, Available amount £138,400.46. What is the correct state of things? Am I missing something obvious? The wording on the details page is a bit clumsy when the secondary market is active. It would be better if it said: £138,400.46 available on the secondary market (13.181%)
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ali
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Post by ali on Aug 24, 2017 21:04:22 GMT
MoneyThing : Support updates flag seems to have been broken by the "General Update". At least, I can't get it to go down (ie., the red exclamation mark is now permanently displayed). That is despite reading all today's updates again. Thanks. It could be because I am currently drafting a new update which is set to go live at 10pm. Will see if the flag disappears after 10pm, if not I will investigate further. Regards, Ed. IN EDIT: Now that the updates have been posted, the flag should disappear once you have clicked on the updates section. Yup. Has now indeed disappeared. Thanks Ed.
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ali
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Post by ali on Aug 24, 2017 20:49:02 GMT
MoneyThing: Support updates flag seems to have been broken by the "General Update". At least, I can't get it to go down (ie., the red exclamation mark is now permanently displayed). That is despite reading all today's updates again.
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ali
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Post by ali on Aug 24, 2017 15:57:53 GMT
You may well be right. However I think an important principal is at stake. If we say investors are too careless/ignorant/whatever to understand that investing in a defaulted loan needs careful consideration, then that leads inevitably to the conclusion that only sophisticated investors should be allowed to use platforms like MoneyThing (and the rest are consigned to "simpler" platforms like RS, (soon to be) FC, etc.). I think that would be a great shame and different solutions to the problem need to be found. I agree, and that's essentially what I said in Butch Cassidy 's poll below. It's also what I've discussed with Ed in a PM conversation. There's a real, inherent conflict here, and resolving it will not be to everybody's satisfaction. The best I have come up with so far is some variant on AC's "fund" approaches whereby a platform like MT could have two types of investment opportunity - one a fund with a stable interest rate and no premium / discount on the SM, perhaps with a provision fund in place, the other individual investment opportunities much akin to AC's MLIA, where higher rates are achievable, where there's no provision fund, and where premiums and discounts can be employed on a secondary market. I fully expect many people to disagree with the above, and I would welcome their thoughts and suggestions . EDIT: The specific point about Ts&Cs and the recent default is very well made, my comments here are about the wider issue..... You may think you agree with me, but I very much disagree with you! I have no problem with AC's funds, but I have a major problem with saying that people who don't meet the FCA's criteria of a high net worth individual or a sophisticated investor shouldn't be allowed to invest in loans directly, which appears to be what you are suggesting (disclaimer: I meet those requirements). The kind of solutions I was thinking about was: 1) Create a new tab for "Defaulted Loans" next to "Live Loans" and don't list defaulted loans on the summary page (following Lendy). 2) Create a quiz that must be passed before a user is allowed to invest in a defaulted loan for the first time, triggered by clicking "Invest" (following Blend's quiz on joining the platform).
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ali
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Post by ali on Aug 24, 2017 15:33:06 GMT
Other - without being able to offer discounts or ask for premiums this is moot. You may well be right. However I think an important principal is at stake. If we say investors are too careless/ignorant/whatever to understand that investing in a defaulted loan needs careful consideration, then that leads inevitably to the conclusion that only sophisticated investors should be allowed to use platforms like MoneyThing (and the rest are consigned to "simpler" platforms like RS, (soon to be) FC, etc.). I think that would be a great shame and different solutions to the problem need to be found.
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ali
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Post by ali on Aug 24, 2017 10:43:01 GMT
Loan states limit of £250, not the £25 stated in the email. It originally stated £25 also, but this was later changed to £250.
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ali
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Post by ali on Aug 16, 2017 17:07:21 GMT
Tiered makes sense to me. Others have discussed the differences between smaller and larger investors, but it also affects how much I invest as an individual. I normally aim to lend a maximum of 1% of my P2P pot to any one borrower and if there are no tiers then I wouldn't often go above this (occasionally to 2% for a particularly attractive loan). But because of tiers, I have been known to go up to 20% on a single good quality loan to qualify for the higher tiers. Interesting... good to know. Thanks ali . So you're saying that the higher interest was a sufficient incentive for you to forgo your diversification discipline? Perhaps not forgo entirely, but certainly I will weigh up whether the return from a higher tier is worth the risk of the decreased diversification, yes.
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ali
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Post by ali on Aug 16, 2017 15:31:12 GMT
Tiered makes sense to me. Others have discussed the differences between smaller and larger investors, but it also affects how much I invest as an individual.
I normally aim to lend a maximum of 1% of my P2P pot to any one borrower and if there are no tiers then I wouldn't often go above this (occasionally to 2% for a particularly attractive loan). But because of tiers, I have been known to go up to 20% on a single good quality loan to qualify for the higher tiers.
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