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Thread: Harmoney

  1. #4516
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    Nice words Myles. Now is not the time to be looking at portfolio performance. Will be lots of hurt out there and real suffering. Its a time for looking out for your fellow neighbour.

  2. #4517
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    Banks strong enough to absorb surge in bad debts

    Article in Stiff this morning


    https://www.stuff.co.nz/business/120...e-in-bad-debts

  3. #4518
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    Quote Originally Posted by leesal View Post
    Nice words Myles. Now is not the time to be looking at portfolio performance. Will be lots of hurt out there and real suffering. Its a time for looking out for your fellow neighbour.
    Of course there are some who rely on dividend and interest income, so yep, portfolio performance is very important for their wellbeing. Will they be getting lost income support when dividends and interest dry up?

    Also landlords when their tenants can no longer afford the rents - they will somehow need to suck it up too?
    Last edited by Bjauck; 18-03-2020 at 10:32 PM.

  4. #4519
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    Quote Originally Posted by Bjauck View Post
    Of course there are some who rely on dividend and interest income, so yep, portfolio performance is very important for their wellbeing. Will they be getting lost income support when dividends and interest dry up?

    Also landlords when their tenants can no longer afford the rents - they will somehow need to suck it up too?
    Yes, a lot of us on this forum will not be getting anything from the relief package from the government. A lot of us are also seeing our lifelong savings greatly diminished by the brutal drop in the stock market.

    But at least I think a lot of us here are probably in the position where we do not have to worry about where our next meal is coming from.

    And for those landlords losing rent from the tenants, it is a terrible situation to be in indeed. But I think still better than their tenants worrying about not having a roof over their heads.

    Stay healthy everyone! Look after you and yours. AND Wash your hands!

  5. #4520
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    Quote Originally Posted by Cool Bear View Post
    Yes, a lot of us on this forum will not be getting anything from the relief package from the government. A lot of us are also seeing our lifelong savings greatly diminished by the brutal drop in the stock market.

    But at least I think a lot of us here are probably in the position where we do not have to worry about where our next meal is coming from.

    And for those landlords losing rent from the tenants, it is a terrible situation to be in indeed But I think still better than their tenants worrying about not having a roof over their heads.

    Stay healthy everyone! Look after you and yours. AND Wash your hands!
    Of course, as with business owners, when your income is reduced, you can always sell your equity at the current distressed prices. So yep, for some the continued monitoring of their investment portfolio of fixed interest and shareholdings remains an important consideration. There may well be some for whom their financial investments are like a hobby, with a more than ample alternative safe source of income.

  6. #4521
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    Just as a matter of interest, has anyone had a full repayment since 20 March, or seen any loans on the marketplace?

  7. #4522
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    Quote Originally Posted by BJ1 View Post
    Just as a matter of interest, has anyone had a full repayment since 20 March, or seen any loans on the marketplace?
    I snapped up a loan on 24th March and another on the 25th. But I haven't seen anything on the marketplace since 25 March.

    I've had one full repayment too 2 days ago.

  8. #4523
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    Well that's the end of HM P2P.... Just got the offical reminder Email.

    What happens to THIS thread now????

  9. #4524
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    Quote Originally Posted by Toukshare View Post
    I snapped up a loan on 24th March and another on the 25th. But I haven't seen anything on the marketplace since 25 March.

    I've had one full repayment too 2 days ago.

    I havent seen anything since the 25th either.

  10. #4525
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    Quote Originally Posted by Saamee View Post
    Well that's the end of HM P2P.... Just got the offical reminder Email.

    What happens to THIS thread now????
    Now it seems like they have removed the link to view loan listings half a day early too, so im assuming that is the end of it

    Harmoney is officially NOT a P2P lender any more

  11. #4526
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    Quote Originally Posted by humvee View Post
    Now it seems like they have removed the link to view loan listings half a day early too, so im assuming that is the end of it

    Harmoney is officially NOT a P2P lender any more
    Yes, it's pretty sad, isn't it.
    I'll be transferring the funds weekly/monthly towards LC, I think

  12. #4527
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    Quote Originally Posted by Saamee View Post
    Well that's the end of HM P2P.... Just got the offical reminder Email.

    What happens to THIS thread now????
    ‘The challenge now will be to see how much of the retail investors’ capital invested ends up being written off.

  13. #4528
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    Brutal drop in the stock market? Hardly, the NZ50 is only back to approx where it was about a year ago. You ain't seen nothing yet. We have been in an asset bubble for a few years now, something was going to prick it although I must admit I didn't see this coming, I was expecting a repeat of the GFC. Some companies will come out the other end albeit with much lower valuations e.g. the industrial and office property companies, the freight companies ,the ports and the utility companies. IMO anything connected to tourism such Air New Zealand, Auckland Airport, Tourism Holdings and Sky City will not survive. Due to their national importance AIA and AIR will be nationalised but what the shareholders will be left with is anybody's guess, that's the risk of being a part owner of a business.

    As far as Harmoney is concerned they will want to clear the decks asap so it will be convenient to write off or sell delinquent loans, it is already happening. They don't have to worry about their investors base anymore.

    I hope I'm not being to gloomy but as a survivor of the 1972/3 oil shocks, the 1987 sharemarket crash, the 2000 tech crash and the 2008 GFC I think this one will be worse than any of them. I hope I am wrong.

    Happy Days





    Quote Originally Posted by Cool Bear View Post
    Yes, a lot of us on this forum will not be getting anything from the relief package from the government. A lot of us are also seeing our lifelong savings greatly diminished by the brutal drop in the stock market.

    But at least I think a lot of us here are probably in the position where we do not have to worry about where our next meal is coming from.

    And for those landlords losing rent from the tenants, it is a terrible situation to be in indeed. But I think still better than their tenants worrying about not having a roof over their heads.

    Stay healthy everyone! Look after you and yours. AND Wash your hands!

  14. #4529
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    Quote Originally Posted by nztyke View Post
    Brutal drop in the stock market? Hardly, the NZ50 is only back to approx where it was about a year ago. You ain't seen nothing yet. We have been in an asset bubble for a few years now, something was going to prick it although I must admit I didn't see this coming, I was expecting a repeat of the GFC. Some companies will come out the other end albeit with much lower valuations e.g. the industrial and office property companies, the freight companies ,the ports and the utility companies. IMO anything connected to tourism such Air New Zealand, Auckland Airport, Tourism Holdings and Sky City will not survive. Due to their national importance AIA and AIR will be nationalised but what the shareholders will be left with is anybody's guess, that's the risk of being a part owner of a business.

    As far as Harmoney is concerned they will want to clear the decks asap so it will be convenient to write off or sell delinquent loans, it is already happening. They don't have to worry about their investors base anymore.

    I hope I'm not being to gloomy but as a survivor of the 1972/3 oil shocks, the 1987 sharemarket crash, the 2000 tech crash and the 2008 GFC I think this one will be worse than any of them. I hope I am wrong.

    Happy Days
    The NZX50 index includes gross dividends. So capital values have fallen by about 4% in the year. Meanwhile house prices actually increased in the March quarter and by about 6% in the past year! As it is so much easier to leverage your purchase of housing, prices have been inflated based on borrowers ability to repay, from their income, capital and interest repayments. House prices still have yet to reflect the realities of the drastic Covid response measures and their effects on incomes.

    Who knows what the effect of quantitative easing this time round will be. The money sloshing around will have to find a home somewhere?

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