dorset
Member of DD Central
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Post by dorset on Oct 3, 2019 17:32:17 GMT
AML has a desirable product and a quality brand even if it cannot be made and sold at a profit by the current management team.
FC has a brand that has no value and let’s not talk about the product quality or the management team.
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reinvestor
Member of DD Central
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Post by reinvestor on Oct 3, 2019 18:54:33 GMT
AML also had to pay 12% to raise £120m last week!!
When FC need a funding round I can see them having to pay far higher than that!!
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Oct 3, 2019 19:47:52 GMT
AML also had to pay 12% to raise £120m last week!! When FC need a funding round I can see them having to pay far higher than that!!
But surely FC is such a reputable company and safe borrower with excellent prospects (see IPO prospectus), they will be able to visit their own website and get a loan at 1.9% ...
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Post by shanghaiscouse on Oct 3, 2019 20:36:43 GMT
Nothing new here. This content could all have been read ad nausea on this forum over the last 18 months. There are three scenarios: FC bring the 2019 loan book under control which means that there is slower growth which means continuing reported losses which when the penny drops wipes out the new IPO shareholders. FC goes for growth and hence continues to be beset by defaults in the 2019 loan book which leads to a fall in lenders plus increased lender withdrawals which when the penny drops wipes out the new IPO shareholders. IPO shareholders realise eventually that they might have been part of an IPO scam and go for a class action against the founders and reporting accountants. This takes forever and still means a wipe out for the IPO new shareholders. My only hope is that FC keep going as long as possible so as to keep in place the recovery team that are working so energetically on my 300+ defaults. As a plus I am now getting daily recoveries as some of my defaults over the last 20 months start to go into recovery – now 32.28% on 342 defaults. On the defaults, what is their fee structure, I read somewhere they take a 40% cut on any recoveries? To answer my own question, yes indeed term 12.3a states that when they enforce security they can take up to 40% of the amounts recovered to go against their costs. So once your loans have gone bad, you can immediately kiss goodbye to 40%, and that is the least you will lose.
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adrian77
Member of DD Central
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Post by adrian77 on Oct 3, 2019 21:10:56 GMT
so they sell us a duff loan and when it goes south they take 40%. So they get the original fees etc and then 40% of the recoveries - FC ever wondered why myself and zillions of others sold up?
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Post by shanghaiscouse on Oct 4, 2019 18:24:16 GMT
it is a heads I win, tails you lose situation.... but on the other hand the legal fees have to be paid by someone. the problem is they give loans out like confetti and too many are going bad.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Oct 8, 2019 19:52:27 GMT
On another abslutely sh!t day in the market FC has had a contra-market rise- one of the best performers today up all of 4.3 pence to the giddy heights of 97 pence. I know this may just be a dead-cat, or covering a short, but it may also be a sign that at least one institutional buyer believes they are not going bust (which as a lender I care about). If ever a stock was in need of some good news and good press it is this one.
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Oct 8, 2019 20:06:02 GMT
Some reasonable buying right at close- but (as surmised) most likely a deceased Tabby as opposed to renewed investor enthusiasm. Still, makes a change seeing FC up against a sea of red with no obvious explanation- at the least the selling has abated for a short while
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Post by Mr Smith on Oct 14, 2019 15:57:02 GMT
Heading for new lows....
Market Summary > Funding Circle Holdings PLC
LON: FCH
91.80 GBX −6.40 (6.52%)
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,434
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Post by keitha on Oct 14, 2019 17:39:23 GMT
One of FC directors now on the board of BUPA
is FC in need of surgery ?
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tjtl
Posts: 232
Likes: 351
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Post by tjtl on Oct 15, 2019 6:51:37 GMT
One of FC directors now on the board of BUPA is FC in need of surgery ? I think Dignity (the reading quoted funeral business) would be more appropriate- that or Dignitas (the Swiss clinic that carries out assisted dying).
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Stonk
Stonking
Posts: 735
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Post by Stonk on Oct 15, 2019 11:36:51 GMT
A new all-time low! I think the all-time low was previously exactly 90.00, and FCH has traded quite a few times in the 80's today, the lowest being at 87.50.
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upperdeane
Member of DD Central
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Post by upperdeane on Oct 15, 2019 16:54:37 GMT
Share price up ten percent today. Anybody know why?
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Oct 15, 2019 18:32:34 GMT
Share price up ten percent today. Anybody know why?
Because of my previous post. Whenever I make any kind of suggestion about the direction of a share price, you can be assured it will immediately do the opposite.
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upperdeane
Member of DD Central
Posts: 493
Likes: 245
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Post by upperdeane on Oct 15, 2019 18:38:25 GMT
Share price up ten percent today. Anybody know why?
Because of my previous post. Whenever I make any kind of suggestion about the direction of a share price, you can be assured it will immediately do the opposite.
I was sure it was only me that happened to. Aparrently I'm not the only one.
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