10 years of stock growth wiped?

takesyourchances

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

Totally agree, thankfully I am out of P2P asides messes of a couple of years ago which I have given up on.

Kendall80

takesyourchances said:

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

Totally agree, thankfully I am out of P2P asides messes of a couple of years ago which I have given up on.

I'm mostly out of that fiddle. I've still got a 4 figure sum in Lendy which might aswell be written off. The administrators RSM are doing their level best to take as long as possible - earning a nice hourly rate as they go. Thats the job to be in.

Malthusian

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

The only time to be in P2P or any other scheme of that ilk is right at the beginning, preferably having founded it yourself.

Kendall80

Malthusian said:

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

The only time to be in P2P or any other scheme of that ilk is right at the beginning, preferably having founded it yourself.

You're right however most of my investment came after they became FCA authorised. I actually thought that might've meant something. Another expensive lesson learned.

keyboardworrier

Kendall80 said:

I'm mostly out of that fiddle. I've still got a 4 figure sum in Lendy which might aswell be written off. The administrators RSM are doing their level best to take as long as possible - earning a nice hourly rate as they go. Thats the job to be in.

At least Lendy lenders have had some money back, people who got caught up in the Collateral fiasco have had precisely nothing back yet!

Kendall80

keyboardworrier said:

Kendall80 said:

I'm mostly out of that fiddle. I've still got a 4 figure sum in Lendy which might aswell be written off. The administrators RSM are doing their level best to take as long as possible - earning a nice hourly rate as they go. Thats the job to be in.

At least Lendy lenders have had some money back, people who got caught up in the Collateral fiasco have had precisely nothing back yet!

Tiny drips and drabs over months. I think my withdrawal last month was £1.29 Just enough for the admins to keep up appearances while draining the well dry.

Thrugelmir

Malthusian said:

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

The only time to be in P2P or any other scheme of that ilk is right at the beginning, preferably having founded it yourself.

Ha Ha. P2P never held any attractions for me. Having an inside knowledge of SME company finance being the major factor. 

SpeedSouth

Thrugelmir said:

takesyourchances said:

keyboardworrier said:

I'm remarkably calm about the whole thing. I think being involved in P2P has given me a flavour of what real risk is!

I can relate to that! at least when things like this happen in stocks you can buy more, unlike P2P when it goes wrong!

Now is not the time to be in P2P at all. 

I'd not even thought about my P2P allocation, seeing the big numbers in the pension and ISA.  It's "only" in the £100's but that will likely all fall away as they all go bust.

EdGasketTheSecond

Not so long ago on here there were many punters singing the praises of P2P; how times change.

Kendall80

EdGasketTheSecond said:

Not so long ago on here there were many punters singing the praises of P2P; how times change.

Some had many 10s of thousands invested there. Hope they got lucky with their choice of company. I limited myself to 2k just in case things didn't pan out. Diversifying into different asset types etc should be a good thing but it obviously increases your chances of making a bad choice also.