david42
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General P2x Discussion
Liquidity...
Oct 3, 2017 16:30:38 GMT
Post by david42 on Oct 3, 2017 16:30:38 GMT
That doesn't mean that if you offer to sell £500k at 98%, there won't be a sudden rush of buyers appear waving direct debits at you. Have you tried to sell £500k on Ablrate? All I know for certain is that the volume normally traded on the market is small - based on my experience when I have been at the head of the queue. For example I have been at the head of the offered queue on one loan for most or all of the last month and I can report 15 sales of that loan totalling £1,500 for the whole of September. That is typical of my experience on Ablrate. We can only speculate whether people would buy more if I offered a lower price. My limited experience with small price adjustments on Ablrate suggests that people do not buy more when the price is lower. And my personal reaction if I see a price that is significantly out of line is to wonder what is wrong with the loan rather than to have the confidence to buy a bargain. It would be a fascinating experiment to test whether significant price reductions triggered an increase in market volume.
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david42
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General P2x Discussion
Liquidity...
Oct 3, 2017 13:26:04 GMT
Post by david42 on Oct 3, 2017 13:26:04 GMT
In that case we are in agreement that small volumes can be traded on Ablrate at sensible prices.
The point I am trying to make is that variable pricing lets you buy your way to the front of the queue but that should not be confused with liquidty - the volume you can realistically trade once you are at the front of the queue. On Ablrate the secondary market demand is mostly for hundreds rather than thousands of pounds. Investors needing more liquid secondary markets should look to other platforms.
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david42
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General P2x Discussion
Liquidity...
Oct 2, 2017 15:13:21 GMT
Post by david42 on Oct 2, 2017 15:13:21 GMT
If selling a few hundred pounds of a loan at a loss is your requirement, Ablrate can meet it. If you want to sell more you will need to look at platforms with more liquidity. I think the "at a loss" bit is perhaps slightly overstated. On the ablrate secondary market right now, half of loans in play have best offers of 100% or more, and all but two have best offers of 99% or more. Agreed that the demand is mostly for hundreds rather than thousands, but if you had a well diversified portfolio with a few hundred in each loan, right now you could dump the whole lot immediately for a small profit. Now, whether those conditions would last for long in the event of any adverse market events is of course an entirely different question! But if you are looking to sell, a better guide of the price people are prepared to pay for loans are the bid prices, not the offer prices.
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david42
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General P2x Discussion
Liquidity...
Oct 1, 2017 22:40:30 GMT
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Post by david42 on Oct 1, 2017 22:40:30 GMT
Your question is touching on a mountain of a topic. It depends what you want from your liquidity.
Personally I use Assetz Quick Access and Funding Circle as the two sites where I expect to be able to realise 50% or more of my portfolio within a few days in most circumstances. Those large liquid markets can handle large volumes of loans.
I do not use my Ablrate account as a source of liquidty because there are too few buyers. Although Ablrate has a variable priced secondary market, that does not mean you can sell a large amount quickly.
There are two ways to sell loans on Ablrate: You can offer your loans for sale at a premium or discount and hope someone accepts your offer, or you can accept someone else's bid to buy your loans at the premium or discout they have chosen. - I often offer my loans for sale. Even when my offer puts me at the front of the queue for selling a loan on Ablrate, on many days I will sell nothing at all. - So rather than sit waiting for buyers, you can instead accept bids that others have already made to buy your loans. But if you want to sell a lot, you will notice that most bids are for tens or hundreds of pounds. If selling a few hundred pounds of a loan at a loss is your requirement, Ablrate can meet it. If you want to sell more you will need to look at platforms with more liquidity.
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david42
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Post by david42 on Sept 30, 2017 15:31:50 GMT
I deposited my money when the new terms started. Using the balanced autoinvest FC is reporting my estimated return after fees and bad debts as 7.4% for the 50% of my cash that it has invested so far.
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david42
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Post by david42 on Sept 26, 2017 18:26:27 GMT
Steve I am pleased to hear an IFA taking an interest in peer to peer. When I am feeling cynical I wander whether some IFA's might steer clear of peer to peer because they don't understand it and it is easier just to condemn the sector as too risky ... or maybe they are right. I have been investing with peer to peer for about three years, and I still don't know whether I will come out with a profit. Although my 10% pa returns to date significantly outweigh my 1% pa of realised losses on all but one platform, too much of my capital is tied up in loans that I could not immediately cash in. It is too soon to judge how many of those loans will suffer some element of loss. For an analytical answerto your questions, some platforms publish their historic loan book performance. The data section www.altfidata.com/ is a good starting point - they collect the loans books and analyse the performance. To be able to sensibly advise your clients, I recommend that you invest some of your own money into a selection of platforms. Then you will understand the real issues around complexity, variety of offerings and platforms, assessing trustworthyness of platforms and borrowers, and extensive time needed for research. No amount of words we tell you can substitute for that raw experience. I started on peer to peer because Martin Lewies of Money Saving Expert said that he had tried it and it had worked for him.
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david42
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Post by david42 on Sept 25, 2017 19:40:59 GMT
I don't know what you have done to upset Autobid. Autobid has been investing about 5% a day for me. Daily investment figures here.
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david42
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Post by david42 on Sept 22, 2017 20:43:07 GMT
There are advantages to both approaches.
If you put the money in all at once you will benefit from Autobid investing it more quickly, because it will buy you 0.5% of your larger balance in each loan and it will accept larger loan parts on the secondary market.
If you drip feed the money you will benefit from a wider spread of loans because in the early weeks Autobid will buy a maximum of 0.5% of a smaller balance in each loan and you will have fewer large loan parts from the secondary market, which might help if you want to sell them later
At the moment Autobid seems to be making most of its purchases on the primary market, where it normally buys 0.5% of your total balance in each loan (cash + loans). When Autobid is buying off the secondary market, it seems to buy a single loan part in each loan, and it will avoid buying any single loan part that would exceed 0.5% of your total balance.
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david42
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Sept 21, 2017 9:44:09 GMT
Post by david42 on Sept 21, 2017 9:44:09 GMT
Perhaps Adblock sold them a GOoJF card? I use ublock origin and it's still clean here (apart from the 'please turn off your ad blocker' bleating). And this post from ribs shows how to get rid of the 'please turn off your ad blocker' bleating too. It works so smoothly now that I had forgotten about the problem.
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david42
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Post by david42 on Sept 20, 2017 22:38:02 GMT
Speed of Autobid Lending
I opened an FC account with a lot of cash ready for the new market. I did not buy any loans until the new market started.
Autoinvest speed of investing the spare cash was: 18 Sep In primary market it spent 0.5% spread over 1 loan. In secondary market it spent 0.3% spread over 11 loans. 19 Sep In primary market it spent 5.3% spread over 11 loans. In secondary market it spent 0.5% spread over 2 loans. 20 Sep In primary market it spent 6.0% spread over 13 loans. In secondary market it spent 0.3% spread over 5 loans. 21 Sep In primary market it spent 10.3% spread over 23 loans. In secondary market it spent 0.4% spread over 6 loans. 22 Sep In primary market it spent 6.2% spread over 14 loans. In secondary market it spent 0.1% spread over 8 loans. 23 Sep In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 0.0% spread over 3 loans. 24 Sep No purchases 25 Sep In primary market it spent 7.5% spread over 15 loans. In secondary market it spent 0.0% spread over 0 loans. 26 Sep In primary market it spent 5.0% spread over 10 loans. In secondary market it spent 0.7% spread over 9 loans. 27 Sep In primary market it spent 4.5% spread over 9 loans. In secondary market it spent 1.0% spread over 12 loans. 28 Sep In primary market it spent 2.0% spread over 5 loans. In secondary market it spent 0.3% spread over 7 loans. 29 Sep In primary market it spent 4.0% spread over 8 loans. In secondary market it spent 0.0% spread over 1 loans. 30 Sep In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 0.1% spread over 2 loans. 01 Oct In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 1.8% spread over 8 loans. 02 Oct In primary market it spent 1.5% spread over 3 loans. In secondary market it spent 0.3% spread over 6 loans. 03 Oct In primary market it spent 4.0% spread over 8 loans. In secondary market it spent 0.2% spread over 11 loans. 04 Oct In primary market it spent 4.0% spread over 8 loans. In secondary market it spent 0.4% spread over 27 loans. 05 Oct In primary market it spent 5.5% spread over 11 loans. In secondary market it spent 2.2% spread over 18 loans. 06 Oct In primary market it spent 2.5% spread over 5 loans. In secondary market it spent 0.5% spread over 11 loans. 07 Oct In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 1.3% spread over 72 loans. 08 Oct In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 0.1% spread over 8 loans. 09 Oct In primary market it spent 7.0% spread over 14 loans. In secondary market it spent 2.9% spread over 27 loans. 10 Oct In primary market it spent 4.5% spread over 9 loans. In secondary market it spent 0.1% spread over 6 loans. 11 Oct In primary market it spent 3.5% spread over 7 loans. In secondary market it spent 0.3% spread over 23 loans. 12 Oct In primary market it spent 5.0% spread over 10 loans. In secondary market it spent 4.1% spread over 25 loans. (95% of cash invested. 30% more cash added) 13 Oct In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 0.2% spread over 2 loans. 14 Oct In primary market it spent 0.0% spread over 0 loans. In secondary market it spent 0.4% spread over 3 loans. 15 Oct No purchases 16 Oct In primary market it spent 4.1% spread over 9 loans. In secondary market it spent 0.8% spread over 3 loans. 17 Oct In primary market it spent 3.0% spread over 6 loans. In secondary market it spent 0.4% spread over 3 loans. 18 Oct In primary market it spent 10.5% spread over 21 loans. In secondary market it spent 0.5% spread over 2 loans. 19 Oct In primary market it spent 6.7% spread over 14 loans. In secondary market it spent 2.0% spread over 12 loans. Fully invested
Conclusions: - primary market investments are always 0.5% in each loan. - secondary market investments are random sizes. - Autobid took 4 weeks to invest 100% cash from a standing start.
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david42
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Post by david42 on Sept 19, 2017 23:03:01 GMT
Speed of Autobid Lending
I opened an FC account with a lot of cash ready for the new market. I did not buy any loans until the new market started.
Autoinvest speed of investing the spare cash so far is: 18 Sep In primary market it spent 0.5% spread over 1 loan. In secondary market it spent 0.3% spread over 11 loans. 19 Sep In primary market it spent 5.3% spread over 11 loans. In secondary market it spent 0.0% spread over 0 loans.
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david42
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Post by david42 on Sept 14, 2017 16:24:24 GMT
Sold for £1,000,000 which is below the £1,290,000 it reached last time.
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david42
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Post by david42 on Aug 31, 2017 23:20:20 GMT
My point is that some people do not want to receive the private messages irrespective of their content. It is not against the rules to open a dialogue with users, ask questions and attempt to help them. danraj If you have been using the forum to send private messages to solicit investments you may wish to remind yourself of the rules of the forum you are using. Specifically rule 7: The forum may not be used to solicit loans or investments, or to advertise goods or services. The only exception to this rule is permission for forum members whose profile has been flagged such as a Representative of a P2x platform or intermediary occasionally to promote their own platform and loans on their dedicated Board or, if they do not yet have one, their platform thread in the General Discussion Board. The Private Message function must not be used for commercial announcements or soliciting of business.
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david42
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Post by david42 on Aug 31, 2017 13:57:44 GMT
Having been investing on this platform for 6 months my repayment statics are now: 10 loans repaid early, average 44 days early. 17 loans repaid within 2 days of the correct time. 14 loans repaid late. Average 8 days late. Maximum 21 days late 15 loans overdue. Average 16 days overdue. Maximum 50 days overdue. Oh dear! So 6 months into using the platform I am still no clearer whether my return will be nearer +40% pa or -60% pa. My results will be dominated by the outcome of the 15 overdue loans. Has anything happened with the overdue loans? Yes. Prompted by your question I just logged in to discover my first defaulted loan. It has finally defaulted after being late for 5 months. My statistics after 9 months are now: 29 loans repaid early, average 42 days early. 23 loans repaid within 2 days of the correct time. 26 loans repaid late. Average 16 days late. Maximum 48 days late 14 loans overdue. Average 52 days overdue. Maximum 118 days overdue. 1 loan has finally defaulted after being overdue for 5 months So after 9 months of using the platform my overdue loans still exceed my interest and I am still no clearer whether I am making a profit or a loss. My performance will be determined by the outcome of the 14 overdue loans.
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david42
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Post by david42 on Aug 31, 2017 8:09:33 GMT
I managed to match at 8% earlier today - but I don't know how high it went. 8% was the maximum matched on 30 Aug. My 8.0% marker was matched and my 8.1% marker was not matched.
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