elliotn
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Post by elliotn on Nov 8, 2018 14:14:35 GMT
Make sure you read the details carefully. It is not a P2P lending platform & it's loans are not regulated by the FCA, although the platform is FCA regulated itself. Losses are not eligible for loss relief as it is not P2P. What worries me most is that if the FCA take it upon themselves to decide the platform is operating without the "proper" approvals they might then shut it down overnight (as per COL although I think things there were murky). And as per what seems to be happening with COL the rundown operated by the FCA's city mates might cost investors dear. FCA were in negotiations with Coll, it was their directors that for some reason chose to close down overnight (except it would seem they had made some plans by having already vacated their offices, terminated their server contract, possibly withdrew client funds for ‘business profits’ and had pre-written T&Cs telling us we were then unsecured creditors). I think a more viable comparison would be LendInvest, when they discontinued their ‘p2p’ application they remained FCA authorised and investors continued under self-certification. At 5k a pop I reckon most BC investors should be certified .
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elliotn
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Post by elliotn on Nov 8, 2018 13:44:34 GMT
LendInvest, WiseAlpha are not p2p, the platform is the counterpart assigning the underlying receivable.
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elliotn
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Post by elliotn on Nov 8, 2018 12:15:44 GMT
I have always felt that Wisealpha has taken a conservative, steady approach to their business growth. All funding rounds have been incredibly popular with both private and institutional investors. They have always been open about their cost structure and have even quoted monthly costs to let investors decide. Accounts presented on the 18th of August with companies house shows a much healthier business. It still has a niche with no competition. I am happy with the way the business has presented themselves and built confidence with investors. Communication is strong. The platform is also improving all the time. In other words so far so good. The main concerns I have are concerning rising interest rates and a shake up in the bond market. This along with currency movements as they enter the Euro market is a potential risk factor. However, the fact investments and additions are relatively small and measured means this is somewhat mitigated. Due to the above I have increased my investment to 6 figures and intend to add more. Obviously DYODD Price movements in the bond markets don’t affect WA derivative note holders which are held at WA’s original cost (bar the occasional partial mark to market for company specific credit events). ‘Eurobonds’ are not necessarily non-GBP either, they are bonds in markets outside the home market/currency of the borrower: www.investopedia.com/terms/e/eurobond.aspAlso, WA may fix the price in GBP at the exchange rate they purchase to shield investors from ccy fluctuation just as investors are protected from daily price movements (although future interest and (in particular) redemption might be spot unless WA hedge the exchange rate exposure).
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elliotn
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Post by elliotn on Nov 8, 2018 12:02:19 GMT
Can this not be done by clicking the icon (3 dots, 3 lines) on the top right hand corner of the page. On another note, a bug bear of mine has been the way the pages are organised into main market and high yield as this is patently incorrect (9.5% on main market/ 5.7% on high interest) and it is actually a high risk/low risk or secured/unsecured break down. Are there plans to organise the ever growing number of bonds into a more appropriate format? That puts loans into list but doesn’t allow sorting. High Yield market refers to unsecured loans, not the coupon or yield. Main market is bread n butter secured debt. Edit - crossed with others. Wisealpha - possible suggestion might be Main Market (Secured), High Yield Market (Unsecured), Eurobonds Main Market (Secured), Eurobonds High Yield Market (Unsecured).
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elliotn
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Post by elliotn on Nov 8, 2018 11:48:26 GMT
Make sure you read the details carefully. It is not a P2P lending platform & it's loans are not regulated by the FCA, although the platform is FCA regulated itself. Losses are not eligible for loss relief as it is not P2P. Interesting point. How are the losses treated then from Self Assessment and HMRC perspective? Excluded from personal assessment, allowable trading loss for company. Of course, not tax advice
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elliotn
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Post by elliotn on Nov 8, 2018 8:37:42 GMT
Just to confuse matters Netflix do have a Eurobond in Euros, 1.3bn, senior, 3.65% . If they bring bonds over from Europe as suggested these are likely to be Eur so will be interesting to see how they they handle future payments, until now the platform has been very simple. I don’t mind a bit of ccy hedge although might reasonably expect some £ recovery if withdrawal agreement is agreed within the year (I certainly hope so as it’s cost me an extra grand a year post-Brexit to top up my annual visa requirements where I’m staying!).
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elliotn
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Post by elliotn on Nov 8, 2018 3:52:15 GMT
Eurobonds being added to market.First 500 ro register interest initially get 0% fees. Some decent looking offerings in the pipeline: Burger King/ Netflix But assume the exchange rate would have to be taken into account for good or bad? Depends, Eurobonds are also issued in London. (These are bonds issued outside the company's home country/currency, not necessarily 'European' or 'Euro' bonds, the name originating from bonds issued by European companies tapping London's markets). Q - when the Register Interest banner is used for bonds fully funded on the Market, is there a notification sent when these become available? Similarly, if you have buy orders but not enough balance when a bond becomes available, is that notified? Thanks! Edit - the derivative notes are passed to us at WA’s initial cost so wouldn’t be surprised if they list any foreign currency bonds at a fixed GBP equivalent and remove currency volatility as they do for market price (although there would still be forward coupon and redemption payments).
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elliotn
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Post by elliotn on Nov 7, 2018 11:21:10 GMT
Email options including notification of sales.
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elliotn
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Post by elliotn on Nov 7, 2018 1:59:36 GMT
For the 2017 accounts filed this year, turnover was 28k with losses of over 150k leaving the balance sheet with net liabilities for the same amount as the first proper year of trading.
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elliotn
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Post by elliotn on Nov 6, 2018 2:43:54 GMT
Not sure what you mean by the new loans don't have to fill with P2P money as i assume that is the only way they are funded(but could be wrong ) the equity offerings that they do are different options i believe I was referring to the loans that don't fill. I thought there was wording, implies the gap is filled with other money. However, I've made a mistake in not reading it properly. "Business keeps the raised amount even if target is not met" (Wonder what the point of that is if it's much less). Sorry to confuse the issue. this is the kind of equity raise I meant. I suppose there may be FCA restrictions on their topping up un-filled loans when this money... www.google.co.uk/amp/s/www.forbes.com/sites/davidprosser/2018/01/09/crowd2fund-plots-path-to-1bn-valuation/amp/The unfilled portion normally comes back round as tranche 2 and 3 etc, not sure they have institutional investors (unlike LC where each loan fills regardless of the ‘p2p’ %).
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elliotn
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Post by elliotn on Nov 3, 2018 15:49:30 GMT
Once again, you insinuate that I'm hiding something by sarcastically saying that I didn't answer your question, as you expected. Are you forgetting that you didn't actually ask me anything other than 'tell me about yourself as your motivations seems suspicious'. I took that, as most people would, as a hostile request for me to defend who I am and therefore didn't jump at the chance to tell you all about myself. I also said that if I interpreted that incorrectly then I was sorry. I can certainly understand why people who are either favourable towards FS or hold a balanced opinion would all be new members; quite simply they give up posting after a while because it feels like negativity garners the strongest support. So, like most contrarian posters, the inevitable result will be that I simply stop posting, thereby reinforcing the view that most of these people are new members who quickly disappear and there is something therefore suspicious about their actions. You're barking up the wrong tree matey, nothing suspicious about me. There are far too many very sharp cookies on here who have excellent astounding forensic abilities and probably even know what time I go for my morning constitutional. They'd have had my panties down by now if I wasn't genuine. I'll leave it at that. The sharpest investor should as part of their daily routine consider leaving her/his pants down for any unexpected, secondary morning movements.
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elliotn
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Post by elliotn on Nov 2, 2018 9:16:50 GMT
It seems both could be a hassle to try to get your money back - either from borrower or loan originator Mintos have step in rights and can colllect or (more likely) appoint a third party. I’d fancy paying collection fees rather than take a punt on anything being left in the bankruptcy pot (judging by U.K. statement of affairs anyway). I’m jumping between threads as a potential newby, my 1st question is making sure Eurocent was “indirect” and these loan structures are being implemented/adhered to.
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elliotn
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Post by elliotn on Nov 2, 2018 8:35:09 GMT
Every loan issuer except Eurocent has always honored buybacks, to date. I filter for buyback, fully amortizing, current, less than 24 months, and an interest rate above my target IRR. You might also want to consider platform diversity and look at other platforms. Assetz is among my favorites with their 30day QAA at present. I’m just having a 1st look at Mintos. Re Eurocent, does anyone know if the loans were structured as “direct” (ie “p2p”) or “indirect” (ie via Eurocent)? That Mintos submitted a bankruptcy claim on behalf of lenders means it should be “indirect” as for “direct” the loans should run down (similar to U.K. living will).
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elliotn
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Post by elliotn on Nov 1, 2018 8:41:05 GMT
Have a look at abl market. Thanks. I keep a very close eye. Healthy discounts on most things now, compared to healthy premiums a month or two ago - i.e. market price reacted to market sentiment. And remains highly liquid at the right price. 0.5% steps only. Thanks.
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elliotn
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Post by elliotn on Nov 1, 2018 8:37:04 GMT
Mr CL may be referring more to old FC practice of lenders in a beggar thy neighbour 0.001 increments (still practiceable on HC). 0.5 steps cuts out all such shenanigans with a more efficient sifting of genuine sellers from silly buggers. Just my opinion (and ACs), I will ignore yours too. Plenty of room for differing opinions for sure I don't get though how some sellers are genuine and some not. They all seem like sellers to me. As I said - if someone can show me how ABL's much less restricted model doesn't work I'd be grateful. Have a look at abl market. Thanks.
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