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20-03-2018, 01:47 PM
#3131
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20-03-2018, 04:20 PM
#3132
Originally Posted by myles
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.
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20-03-2018, 04:25 PM
#3133
Originally Posted by Vagabond47
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
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20-03-2018, 04:31 PM
#3134
Member
Originally Posted by beacon
<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 04:42 PM.
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20-03-2018, 06:01 PM
#3135
yeah, nah
Attachment 9573
Investment spread.
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20-03-2018, 06:31 PM
#3136
Member
Originally Posted by beacon
<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.
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22-03-2018, 03:44 PM
#3137
Originally Posted by BJ1
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.
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22-03-2018, 04:14 PM
#3138
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
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22-03-2018, 04:17 PM
#3139
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22-03-2018, 04:21 PM
#3140
Even more bizarre...
Attachment 9579
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