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Thread: Harmoney

  1. #3131
    yeah, nah
    Join Date
    Mar 2017
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    491

    Default $100,000 invested after 12 months

    $100,000 invested after 12 months:

    Keeping the calculation very simple:

    Gross Interest: $18,417.15
    Fees: $2,985.84
    Charge Offs: $1,588.42

    Using XIRR only to adjust for the 3 months taken to invest the $100,000 and ignoring the benefit of Payment Protect.

    My Return: 15.85% (excluding tax).

    I guess I'm one of the very happy Harmoney investors!

    I'm travelling at the moment but will post a bit more details if I get a bit more time. If anyone wants to know specific details, ask and I'll try to find time to post.

    [RAR: 16.41%]
    Last edited by myles; 20-03-2018 at 12:48 PM. Reason: Added RAR:

  2. #3132
    Senior Member
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    Apr 2002
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    , , New Zealand.
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    Default

    Quote Originally Posted by myles View Post
    Gross Interest: $18,417.15, Charge Offs: $1,588.42
    8.6% total loss/gross intt after a year, and a solid RoI. Well done myles
    After 3+ years, Harmoney's got that ratio at 23% ish.

  3. #3133
    Senior Member
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    Apr 2002
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    , , New Zealand.
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    Quote Originally Posted by Vagabond47 View Post
    Surely 80% of that %5 is concentrated in the E & F grades? so if you avoid those can we reasonably expect <2% loss in the better grades (A-C).
    <2% loss sounds Reasonable if you stay A-C, and Harmoney don't let the quality drop, and you keep having the Goldilocks economy continue etc...

    Myles has shown he can buy better overall RoI with greater risk tolerance. He's definitely into Ds and some Es, probably like cool bear

  4. #3134
    Member
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    May 2014
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    Quote Originally Posted by beacon View Post
    <2% loss sounds Reasonable if you stay A-C, and Harmoney don't let the quality drop, and you keep having the Goldilocks economy continue etc...

    Myles has shown he can buy better overall RoI with greater risk tolerance. He's definitely into Ds and some Es, probably like cool bear
    I kinda have the same portfolio as myles, dropped 50k in Aug - sep 2016, then another 50k dec - jan 16/17.

    I don't have my aug 2017 stats, but July 17 had 9k gross interest, $819 of write offs.

    Oct 17 had $14k gross interest, $2,425 write offs

    As of right now, $20,818 gross interest, $4,732 write offs.

    ^^^ an indicator of as your portfolio gets past one year, the writes offs start to come in thick and fast (at least in my experience)


    I would say miles write offs will increase at a faster rate as his portfolio matures.

    Ofc his was/is not exactly the same as mine in terms of mix.
    Last edited by alistar_mid; 20-03-2018 at 03:42 PM.

  5. #3135
    yeah, nah
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    Mar 2017
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    Default

    Attachment 9573
    Investment spread.

  6. #3136
    Member
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    Dec 2017
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    168

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    Quote Originally Posted by beacon View Post
    <2% loss sounds Reasonable if you stay A-C, and Harmoney don't let the quality drop, and you keep having the Goldilocks economy continue etc...

    Myles has shown he can buy better overall RoI with greater risk tolerance. He's definitely into Ds and some Es, probably like cool bear

    Yes, it appears I have been a little risk averse, I won't bother with anymore A's, and will try to grab the C&Ds. Not going to touch the F range.

  7. #3137
    Guru
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    Aug 2012
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    4,661

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    Quote Originally Posted by BJ1 View Post
    Sorry people but it isn't Harmoney's role or responsibility to provide tax advice. Accountant's may do that but their advice is nearly always tinged with disclaimers so that is hardly a safe source. The tax act does entitle costs incurred in deriving income to be deducted so the remaining question is if bad debts are deductible...
    It's not Harmoney's responsibility but they could apply and pay for a ruling on behalf of their "not in business"investors...

    Where is the guidance that bad debts are deductible for retail investors? The retail investors in collapsed finance companies were informed that their bad debts were not deductible. Are investments in P2P vehicles different? That is the crux...and is a grey area, pending guidance.

  8. #3138
    Senior Member
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    Paid Off Status with balance still outstanding. I hope Harmoney know what they are doing, cos I don't! Be interesting to see if these get rectified post-audit.
    2018 0322 Harmoney paid off status with balance still owing.jpg

  9. #3139
    Senior Member
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    Default

    And more...

    Attachment 9578

  10. #3140
    Senior Member
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    Apr 2002
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    Even more bizarre...

    Attachment 9579

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