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Post by Financial Thing on Dec 18, 2015 16:41:19 GMT
MoneyThing Great job on the addition of new totals on Live Loans page, bye bye green tick.
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Post by Financial Thing on Dec 18, 2015 15:48:21 GMT
I think we need to see the rates on the loans page. It's easy to overlook in the heat of the moment especially as this is new territory for MoneyThing. MoneyThing Good point, I assumed everything was 12%
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Post by Financial Thing on Dec 18, 2015 15:42:10 GMT
Guess there are worse things to be addicted to. Like cat sanctuaries for instance.
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Post by Financial Thing on Dec 18, 2015 15:38:13 GMT
MoneyThing Not sure if this has been suggested (too lazy to scan posts) but have all loan pieces for each loan totaled together in My Loans page as SS does it. Currently hard to tell totals on each loan if one has lots of small pieces. Also make organizing and reselling on SM easier.
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Post by Financial Thing on Dec 18, 2015 14:06:12 GMT
you can email support and ask for the offer, they will give it and you can take advantage via email.
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Post by Financial Thing on Dec 14, 2015 18:05:09 GMT
I've been investing in P2P for a while now and I'm a little ashamed to admit it's all become too much.
I've found that my hours spent reading, watching, tinkering and investing have increased. The issue is, I enjoy doing it, but lately I've been feeling that increasing compulsion to log into the different accounts to look things over.
This time could be better spent on such things as going outside, career improvement, earning extra income, spending more time with family and friends. At the end of the day, you come into this world and leave the same way and we all know you can't take anything with you.
So my question, do others experience this same P2P compulsion and if so, how do you overcome?
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Post by Financial Thing on Dec 14, 2015 15:01:56 GMT
Very interesting thread. I was surprised how heavily weighted some are into the high interest rate platforms.
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Post by Financial Thing on Dec 13, 2015 14:10:09 GMT
The system is fine as is.
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Post by Financial Thing on Dec 12, 2015 14:16:01 GMT
Not I, restaurants have the one of the highest failure rates of any small business.
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Post by Financial Thing on Dec 9, 2015 16:02:58 GMT
Agreed but from a technical perspective as a buyer, it's atrocious. I don't think it's atrocious. A part appears on the SM, you go to the purchase page, enter your instruction, and wait for the result. As long as the server receives all the instructions promptly and deals with them in the order they were received then it's doing its job properly. It's not the SM/website's fault that there are more people trying to buy than there are parts to sell. About the only thing that could be improved is if the processing were a bit quicker and we found out whether or not our purchase requests were successful a bit sooner. But if, as paulgul reported, we don't have to watch and wait on the 'processing' page for it to do its job, then we can move on to other things and deal with the results later. Yes it is absolutely atrocious. I try to purchase loan pieces, see a spinning circle for 5 mins, have no idea whether I purchased a loan piece or not. Try again, several minutes later, to find I have purchased several more loan pieces than I planned. That's an IT disaster.
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Post by Financial Thing on Dec 8, 2015 21:58:20 GMT
... ABL introduced a SM of such intricate complexity that I gave up investing with them. AC had a wiz idea - an account for holding cash pending investment that paid 3% interest. Consequence it got submerged in a wall of money gushing in and out and they were unable to explain how they would deal with a default in one of the loans that supported the 3%. So I gave up investing with them. SS had another wiz idea to make the share out of oversubscribed loans fairer - a pre-funding system that worked well for a few nano seconds until everyone started pre-funding by rapidly increasing multiples of what they actually wanted. However I continue to invest with them in the hope that they can fix it. I have told them how. ... Perhaps a bit unfair. ABL's secondary market is probably the closest to a real market of all the P2P platforms. The analytics on amortizing loans are completely screwed up, however, which is fairly unforgivable given how easy that is to code and that has caused issues. Other than that it only requires a basic understanding of the price-yield relationship and time value of money. If you don't understand those then you should at least question why you are investing in fixed income loans. AC's QAA is probably not actually investing in anything, except for milliseconds during the loan draw-down phase. What the QAA is really doing is saving AC around 12-24% per annum in fees. You are simply providing them with dirt cheap funding and they give you back a rather small 3.75% in return. So lenders are getting a terrible deal but what happens in default is probably not actually relevant. SS's pre-funding is not a bad idea at all. The problem is because of the massive supply-demand imbalance (caused by a under-appreciation of the risks of SS's loan portfolio), lenders believe they can overbid in large multiples with impunity. That will change once an SS loan goes wrong and lenders realize the loans are not as riskless as they thought: the supply-demand imbalance will probably flip overnight, liquidity will vanish and lenders will fail on purchases and/or not be able to exit concentrated positions. That will be simply be fun to watch. And the search for the perfect (non-existent) p2p platform continues...
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Post by Financial Thing on Dec 8, 2015 17:49:10 GMT
Rebs is the only other one I'm in and I'm getting over 15% but then I'm invested in nearly every loan on the platform (about 120 currently live), I also monitor the discussion threads and put more into the loans with better security and more borrower engagement and less in the ones that just don't "feel" right. I think you've had incredibly bad luck to have 2 of 7 go bad. I completely lost trust in Rebs underwriting when they took on 2 loans which went bad in the first couple of months.
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Post by Financial Thing on Dec 8, 2015 14:03:04 GMT
The SS developers must be ex-FC developers. The SM market is atrocious. Bring back the old website, at least it worked. From a Seller's perspective, the SM works superbly. Nothing that I listed to reduce my other loan holdings lasted more than a few seconds. Agreed but from a technical perspective as a buyer, it's atrocious.
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Post by Financial Thing on Dec 8, 2015 13:52:07 GMT
The SS developers must be ex-FC developers. The SM market is atrocious. Bring back the old website, at least it worked.
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Post by Financial Thing on Dec 8, 2015 12:56:11 GMT
Actually with the bidding limits in place, you can sometimes still invest on the smaller loans so long as you don't wait too long, but yes, demand is greater than supply. If fundingsecure were to remove the premiums, it would sort the SM out (the tax issue is another issue). I'm sure it's hard to find a suitable medium to make all the customers happy. Look at MT and SS, currently zero SM loan parts available vs. FS, 30 pages of loan parts.
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