Peer to Peer investments - what's on at the moment?

Thrugelmir

dunstonh said:

Malthusian said:

lifemagic said:

So an instant access account was basically suspended for nearly two years with nothing I can do about it. Never again for me. I'm using Nexo now (crypto). GBP 4% instant access, 3 month bond 8%.

Gets fingers burned by treating junk loans to small businesses as an instant access deposit account. Says "never again". Promptly sticks same fingers into illegal "instant access" accounts (loans to crypto bros). Says "this is fine".

Still, it could all work out.

"This time next year Rodney, we’ll be millionaires."

Not if your investments halve in value........

eskbanker

Thrugelmir said:

dunstonh said:

Malthusian said:

lifemagic said:

So an instant access account was basically suspended for nearly two years with nothing I can do about it. Never again for me. I'm using Nexo now (crypto). GBP 4% instant access, 3 month bond 8%.

Gets fingers burned by treating junk loans to small businesses as an instant access deposit account. Says "never again". Promptly sticks same fingers into illegal "instant access" accounts (loans to crypto bros). Says "this is fine".

Still, it could all work out.

"This time next year Rodney, we’ll be millionaires."

Not if your investments halve in value........

Unless starting as multi-millionaires of course!

Nebulous2

eskbanker said:

Thrugelmir said:

dunstonh said:

Malthusian said:

lifemagic said:

So an instant access account was basically suspended for nearly two years with nothing I can do about it. Never again for me. I'm using Nexo now (crypto). GBP 4% instant access, 3 month bond 8%.

Gets fingers burned by treating junk loans to small businesses as an instant access deposit account. Says "never again". Promptly sticks same fingers into illegal "instant access" accounts (loans to crypto bros). Says "this is fine".

Still, it could all work out.

"This time next year Rodney, we’ll be millionaires."

Not if your investments halve in value........

Unless starting as multi-millionaires of course!

The old jokes are the best ones. The local version was:- 

"The best way to make a small fortune out of farming is to start with a large one....." 

agent69

dunstonh said:

Malthusian said:

lifemagic said:

So an instant access account was basically suspended for nearly two years with nothing I can do about it. Never again for me. I'm using Nexo now (crypto). GBP 4% instant access, 3 month bond 8%.

Gets fingers burned by treating junk loans to small businesses as an instant access deposit account. Says "never again". Promptly sticks same fingers into illegal "instant access" accounts (loans to crypto bros). Says "this is fine".

Still, it could all work out.

"This time next year Rodney, we’ll be millionaires."

and he was right (eventually)

dunstonh

agent69 said:

dunstonh said:

Malthusian said:

lifemagic said:

So an instant access account was basically suspended for nearly two years with nothing I can do about it. Never again for me. I'm using Nexo now (crypto). GBP 4% instant access, 3 month bond 8%.

Gets fingers burned by treating junk loans to small businesses as an instant access deposit account. Says "never again". Promptly sticks same fingers into illegal "instant access" accounts (loans to crypto bros). Says "this is fine".

Still, it could all work out.

"This time next year Rodney, we’ll be millionaires."

and he was right (eventually)

Although lost it again IIRC. 

Thrugelmir

An investment banker tells his client that a £1,000,000 investment into a start-up company will turn into a ton of money.                                   
The client then asks "How much is a ton of money"

The banker responds "Two Thousand Pounds"

bobski_111

Aceace said:

IMO, there are plenty of decent platforms to choose from, and some that are not worth the risk. To save repeating lots of details, you can see my end of year summary for 2021 here: https://p2pindependentforum.com/post/443233/thread

Discounting platforms with minimums of £500 or more per loan, and those that don't have an autoinvest mode (since your previous platforms did), these might interest you: 

Property secured loans: CrowdProperty, Kuflink and Loanpad. 
Unsecured consumer loans: Elfin Market. 
Pawn based loans: Unbolted. 

Lots more details on P2PIF, both good and bad. Also might be worth a look at 4thWay.

Thanks - very helpful - will check that out

bobski_111

agent69 said:

The gloss has come off P2P lending over the last few years, mainly as it becomes apparent that it is impossible to wind down failed platforms without major lender losses.

If you look at the independent forum you will get a feel for who is currently flavour of the month. However, it wasn't long ago that Collateral and Money Thing were top of the list, and look where they are now.

Which forum is that - sorry if I'm being thick...

bobski_111

london21 said:

Assess your risk appetite.
Can be high risk. 

A good point, but I'm pretty comfortable with a) having risk in my portfolio and b) making judgements about what risk I'm willing to take with what.

The first time I had cash to invest was in 2006-7. I ended up with, amongst other things, an 8% cash ISA with an Icelandic bank; a commodity fund; and an offshore ground rent fund. All of this with the wonderful help of a financial advisor.

When we got to 2008 the commodity fund crashed, the ground rent fund took five years to wind up, and the Icelandic bank eventually returned the deposits in herrings which were delivered to the door of our flat in London. All valuable learning experiences, but nothing with a serious impact on my life, because I had a well diversified portfolio taking into account both risk to capital and liquidity risk. (The regular stocks and shares ISA gave me the most stress, because there was the most in it and at one point it had halved in value).

So when peer to peer came around a few years ago, I was suitably sceptical of the secondary markets and the provision funds and the claims that they'd stress-tested the portfolios and it would cope with a 2008-style crash. I definitely did not treat the 'instant access' stuff as meaning 'instant access'. But I decided to proceed with some of it and had a good experience. Helped by the fact that I saw Covid coming and got out of most of it before there were any liquidity problems, but even if I hadn't done so my view would probably be not that different. 

eskbanker

bobski_111 said:

agent69 said:

The gloss has come off P2P lending over the last few years, mainly as it becomes apparent that it is impossible to wind down failed platforms without major lender losses.

If you look at the independent forum you will get a feel for who is currently flavour of the month. However, it wasn't long ago that Collateral and Money Thing were top of the list, and look where they are now.

Which forum is that - sorry if I'm being thick...

The first of your three posts this evening quoted one from @Aceace which included a link to the P2P independent forum....