beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on Sept 8, 2020 10:12:59 GMT
circa 91 million. about 9-10% of the full loan book pre covid levels with 100% capital intact, a provision fund and inflation beating interest. regardless of what anyone says this is a good effort. You sound like RS's hype man best to be positive and it is all fact no?
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Sept 8, 2020 10:14:47 GMT
circa 91 million. about 9-10% of the full loan book pre covid levels with 100% capital intact, a provision fund and inflation beating interest. regardless of what anyone says this is a good effort. " your capital is still intact" and " here is your capital, take it" are two different things. Particularly for someone waiting far back in the Access queue. well thus far the provision fund has protected the capital, therefore, it is intact. 'here is your capital, take it' has no bearing on the performance of the loan book or defaults that is someone simply getting their money back.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Sept 8, 2020 10:17:05 GMT
" your capital is still intact" and " here is your capital, take it" are two different things. Particularly for someone waiting far back in the Access queue. And 'capital intact' should read 'capital intact so far'. Defaults in the unsecured consumer loan book are almost certain to rise as unemployment soars with the end of the furlough scheme. I don't think we are all heading for heavy losses but a capital haircut of a few percent remains a distinct possibility. perhaps, but that would be the case for any investment in any capacity. so.... capital intact is still as true today as it will be until we have losses. I would argue if one thinks with the 'capital intact so far' mindset, perhaps the risk is too heavy on the mind?
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Post by freefalljunkie on Sept 8, 2020 11:07:37 GMT
And 'capital intact' should read 'capital intact so far'. Defaults in the unsecured consumer loan book are almost certain to rise as unemployment soars with the end of the furlough scheme. I don't think we are all heading for heavy losses but a capital haircut of a few percent remains a distinct possibility. perhaps, but that would be the case for any investment in any capacity. so.... capital intact is still as true today as it will be until we have losses. I would argue if one thinks with the 'capital intact so far' mindset, perhaps the risk is too heavy on the mind? I'm pretty sanguine actually. I've got about 48% of my money out since March and now Ratesetter is about 4% of my portfolio overall, so a few % loss of that if it comes isn't too bad. Obviously wish I'd acted to get all my money out RS when they brought the A/P/M products in last year (did think about it), but investing is always a learning experience. Far bigger risks in the stock markets currently I reckon, what with sky high valuations in the US, massive money printing and associated debt bubble.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Sept 8, 2020 12:16:15 GMT
perhaps, but that would be the case for any investment in any capacity. so.... capital intact is still as true today as it will be until we have losses. I would argue if one thinks with the 'capital intact so far' mindset, perhaps the risk is too heavy on the mind? I'm pretty sanguine actually. I've got about 48% of my money out since March and now Ratesetter is about 4% of my portfolio overall, so a few % loss of that if it comes isn't too bad. Obviously wish I'd acted to get all my money out RS when they brought the A/P/M products in last year (did think about it), but investing is always a learning experience. Far bigger risks in the stock markets currently I reckon, what with sky high valuations in the US, massive money printing and associated debt bubble. exactly it is all relative. I think we might see a snip of capital loss but relative to debt bubbles, housing booms and all the other hazards RS is a pretty steady ride. I agree A/P/M was for me too limited as a product and as such not really something I dabbled with. I also felt that the 'fee' structure was pretty unfair given it is one pool of funds
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Post by RateSetter on Sept 8, 2020 16:11:20 GMT
Good afternoon all. Today we have delivered £0.4m and the full update is below:
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Post by RateSetter on Sept 9, 2020 16:10:01 GMT
Good afternoon. Today we have delivered £0.4m and the full update is below:
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bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
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Post by bt on Sept 9, 2020 16:15:14 GMT
No move in 5 year today ?
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robski
Member of DD Central
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Post by robski on Sept 9, 2020 16:32:10 GMT
No move in 5 year today ? looks like it was all/mainly 5 year to me
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Post by bornconfused on Sept 9, 2020 18:15:39 GMT
No move in 5 year today ? looks like it was all/mainly 5 year to me I think bt is referring to the investment release date for 5yr which has recently been advancing by around 5 days every day. But today has stuck on 17th July. Probably because someone requested a large RYI on that date
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robski
Member of DD Central
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Post by robski on Sept 9, 2020 19:28:37 GMT
Ah ok, not sure the date is of any relevance personally Pretty sure the RYI was 5 year and this morning my withdrawl from 3 Aug was 222 so not that many to go for 17 days or so requests Also from my numbers moving vs the amount released daily it seems the average 5 year is probably around £10k So tomorrow I would expect 180-185 type range, which would just mean busy day on the 17th If its dropped no where near that much then for sure a large withdrawl Of course its also possible RS simply forgot to update the date they are processing, the other two don't really move ever
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robski
Member of DD Central
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Post by robski on Sept 10, 2020 8:56:45 GMT
Ah ok, not sure the date is of any relevance personally Pretty sure the RYI was 5 year and this morning my withdrawl from 3 Aug was 222 so not that many to go for 17 days or so requests Also from my numbers moving vs the amount released daily it seems the average 5 year is probably around £10k So tomorrow I would expect 180-185 type range, which would just mean busy day on the 17th If its dropped no where near that much then for sure a large withdrawl Of course its also possible RS simply forgot to update the date they are processing, the other two don't really move ever Just to update, i did only drop 16 places so suspect there was one or more larger withdrawls being processed
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Post by p2plender on Sept 10, 2020 10:40:38 GMT
Given how much money is 'really' in access then I don't think RS will be going under anytime soon. In fact this should still be a thriving business given the margins they must have been pulling in by lending 'access money' at 5 year rates. This 'run' really did ruin things for RS.
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robski
Member of DD Central
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Post by robski on Sept 10, 2020 15:24:55 GMT
Good for you. I dropped ONE place in the A/P/M markets. APM isnt really doing any RYI again from what I see 5 Year with no lending constantly has funds coming in that are used to RYI I bet the total is about £0.4M again today and it will all be 5 year, as the available and remaining now moved about that amount Its possible though it could be more as I cannot see 1 year, anything over £0.4 I think is 1 year
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Post by mouldy on Sept 10, 2020 15:36:54 GMT
I don't know if this has been discussed elsewhere but what are people's thoughts for what will happen to the 1-year and A/P/M when the 5-year market catches up to the present?
Either the total amount that will be processed through RYI will drop or the other queues should start to make some more significant progress.
Hoping for the latter of course!
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