Infuriating Excel
I plot all of my Zopa investments in Excel. This gives me a good hold on how they are performing.
But about a week or so ago, the date axis on the chart disappeared. Strange because on my other computer the chart still works in the same way.
No matter what I do, I can’t seem to get them back. I get no message to say what is wrong either.
I hope I don’t write software like that!
I’ve done a bit of investigation and I’ve found that on the machine where the chart works, the version is Excel 2007 SP1 (12.0.6331.5000) and on the other machine that doesn’t it is Excel 2007 SP2 (12.0.6504.5001). I’ve since found that Windows updated my Office and probably Excel on the 27th of October.
Bankers and Bonuses
Years ago, I was part of team that created a technology company. When we sold it, we went to enormous lengths to avoid paying tax as it was then 80%. If you increase taxes then companies like this will set up in more favourable regimes and the loss of employment from these sectors will be great.
After all, I live near Cambridge and they’ve just announced a £900 million investment in research and facilities at Addenbrooke’s Hospital. Some of those researchers will make a very large sum of money, but they will save a large number of lives and improve all out lot significantly.
So do we have one set of morals for bankers and accountants and another for scientists, doctors and engineers? Judging by the fact that crap like X-Factor is bread and circuses to most of the population, it would appear that reality TV stars rate a lot higher, than both groups. No-one complains when some Z-list celebrity gets a drug addiction. They just feel sorry for them!
You can’t tax bankers without taxing others who risk everything to create world-changing companies and ideas. And dare I say it the jobs we need for the future.
Gambling Addiction
There has been an article on BBC Breakfast this morning talking about on-line gambling.
In a piece entitled Gambling, Zopa and On-Line Bots, I wrote.
A strange thing is that since I’ve been using Zopa, I have cut down my gambling on things like horse racing.
I think that using Zopa is a bit like on-line gambling with a bit of the same buzz, as you check the results of what has happened every day about 10:30 at night. Or it certainly seems so to me. But perhaps I’m more an information man, than a true gambler.
I can’t remember the last time I had a bet. In fact since I started doing detailed accounts with my new software product, there is nothing in the column marked, Gambling.
So perhaps we all need the buzz of gambling, but we need to channel it into something less risky and perhaps even productive.
Fair Treatment of Widows by the Banks
I didn’t have a particularly bad time when my wife died from the banks. But many others do!
I’ve just listened to the influential MP, John McFall, complaining that many widows have difficulty accessing money that will come to them. I didn’t, but the endless sending of death certificates to get information just makes the bereavement process worse.
It’s not just the banks but part of a much larger and very important area.
It is now over nearly two years since my wife died and I can now think rationally about what has happened since. And especially about some of the nauseous paperwork that has arisen! I should also say that I’ve not had it difficult, compared to some stories I have heard.
I was prompted to write to The Times about this and they published my letter on April the sixteenth, 2008, albeit with a few modifications.
Sir, I was widowed last year, and it is only now that I’m starting to get my life together. The response of the various government and local authority departments in handling all the paperwork involved has been very patchy.
Registrars: excellent, very sympathetic and efficient; Work and Pensions: bereavement allowance came through with a few hiccups, but not too difficult; Premium Bonds: system worked but could have been better; council tax: this was reduced automatically on signing a form by St Edmundsbury — totally painless; DVLA: its online systems worked well; winter fuel payment: found difficult to claim and missed it for last year.
The private sector wasn’t that much better, with some companies having people whose sole job appeared to be to deal with bereavement faring much better than those that didn’t. Some wanted death certificates, some accepted faxed copies and others took my word.
We need a lot more joined-up thinking in this important area, as, with nearly a million deaths in the UK every year, it would surely help the bereavement process for those left behind if every company, organisation, government department and authority were automatically notified. After all, if St Edmundsbury can do it here in supposedly sleepy Suffolk, then surely everyone else can.
They left out the piece where I praised The Carphone Warehouse, but severely criticised a large British company, who find it impossible to take my wife off their mailing list. The former showed how it should be done and the latter are a disgrace.
As I said in my letter, my local council met the Gold Standard and the Registrar effectively started the process of adjusting the Council Tax.
In tracing my wife’s credit cards, I ended up talking to a Fraud Manager at a well-known bank. We felt that it should be possible to have an automated system that would flag the cards of those that had died. Apparently, these cards are an area that is aggressively targeted by criminals.
He’d also had problems with some shares that had been held by his late mother. This is a common problem and was noted in some of the replies to my letter in The Times. Luckily, my wife didn’t hold any shares except for a few in a now-floated Building Society.
But I’ve since met several people, whose husbands or wives have died abroad and they’ve had problems with getting bodies home and others where the Death Certificate has been delayed because there was an inquest. If you haven’t got the Death Certificate, then the Banks won’t give you access to the bank accounts!
So I had it easy. But I know now, how I can make things even easier.
Beware of Calls from VISA/Mastercard – 2
I have just had another call from these crooks.
I thought that I should phone my credit card company and ask if there is anywhere where the scam can be reported.
They said there wasn’t! They also said that nothing could be done as they are abroad. But if enough people reported the calls to a central number, then at least the country of origin could be traced and shamed in the press.
So we’re all on our own on this one, then!
Loan Fraud
I assume that these two e-mails I received this morning are up to no good.
This one is from Homesteel Loan Management.
This is HOMESTEEEL LOAN MANAGEMENT, a private loan lender.We provide funding for companies and individuals that need funding. We work domestic as well as international companies. Our funding sources specialize in creative solutions to meet your needs for expansion, growth etc.
Our company do grant loans to individuals and companies as the loan grant varies from $5 thousand to $5 million Dollars with an interest rate of just 2.5 %.Borrower’s Information Needed
Full Names:…………………………………………
Country:……………………………………………
Phone Number:……………………………………..
Loan Amount Needed:…………………………….
Loan Term Duration:……………………………….Contact us today with the above information at honorablekalebcole1@gmail.com,mrkalebcole@sifymail.com
Company Name:HOMESTEEEL LOAN MANAGEMENT.
Registration Number: EA-ASL/941OYI/02/LN-UK
Telephone: +44-701-112-8005
Fax: +44 91-791-52-20Regards,
HOMESTEEEL LOAN MANAGEMENT
homesteelmanagement@gmail.com
And this one is from Eagle Loan Management.
This is Eagle Loan Management, a private loan lender.We provide funding for companies and individuals that need funding. We work domestic as well as international companies. Our funding sources specialize in creative solutions to meet your needs for expansion, growth etc.
Our company do grant loans to individuals and companies as the loan grant varies from $5 thousand to $5 million Dollars with an interest rate of just 2.5%.Borrower’s Information Needed
Full Names:…………………………………………
Country:……………………………………………
Phone Number:……………………………………..
Loan Amount Needed:…………………………….
Loan Term Duration:……………………………….Contact us today with the above information at eagleinvestment@sifymail.com
Company Name:EAGLE LOAN MANAGEMENT.
Registration Number: EA-ASL/941OYI/02/LN-UK
Telephone: +44-701-112-8005
Fax: +44 91-791-52-20Regards,
EAGLE LOAN MANAGEMENT
eagleloan.2009@gmail.com
Note that the registration, telephone and fax numbers are all the same.
Obviously, both of these e-mails are the same fraud. I suspect, that you will pay a lot of up-front fees and never see any money.
There is also the possibility that just phoning the numbers will be very expensive. In fact it is a good idea never to phone any UK number beginning with 7, unless you know who it belongs to! Many are mobiles, but some of them are linked to very expensive personal numbers.
Don’t whatever you do have anything to do with these crooks!
A Double Cliche
Someone said something like this on the radio, when discussing their predictions for the recession.
We think it will be a saxophone shaped curve, but that would be blowing our own trumpet.
I bet that was pre-planned.
A New Variety of Dead Parrot Sketch
I liked this comment from The Times on Thursday.
“I wish to register a complaint.” Britain’s financial services industry heard this refrain nine million times over the past three years, according to new figures from the Financial Services Authority.
This sounds like an awful lot of unhappiness. Dissatisfied customers are now returning their dead parrots at the rate of more than 8,000 a day.
This is the first two paragraphs and it continues in the same vein.
But doing simple maths says that we complain about 3,000,000 times a year about the financial services industry. That probably means it’s about one complaint for every six or seven houses in the UK. As probably only half the houses do anything governed by the FSA, that’s one hell of a level of complaints. So it’s nearer one-in-three!
I could add my complaints too. About excessive paperwork for a start. It seems that every time you move or breathe anywhere near any financial company they need everything in triplicate down to your inside leg measurement. You need certificates for this, documents for that. Surely, the fact that I pay my taxes and I only bank with reputable UK banks should be enough and they should guarantee my probity.
Job done!
How many complaints are of this nature?
But just imagine this level of complaints on cars. No-one would ever buy one. So perhaps this is why people don’t buy pensions.
After all if you want to make a small fortune, give a large one to a financial adviser.
Zopa Returns – August 2009
I posted a graph and explanation of this a few weeks ago.
So have things changed?
Zopa Returns - August 2009
There are various lines shown on the graph.
- Red shows the A* lending rate
- Blue (Earn1) shows the returns discounting for any bad debt, but including accounts in arrears.
- Orange (Earn2) shows the returns discounting for any bad debt and arrears.
- Dark Blue at the bottom, is the OBR or Official Bank Rate
Notes.
- Earn2 is creeping back up towards Earn1. I think this is because after initial hiccups accounts tend to settle down. I also think that Zopa have tightened their lending conditions, which may mean they get less hiccups.
- Earn1 seems to have a sawtooth pattern. This is because, most contracts are from the 25th or one month to the 3rd of the next. At least the monthly peak rate seems to be rising.
- At present the Inland Revenue does not think that bad debts are allowable against tax. Many disagree and my accountant has said that he believes they will be allowed. After all do they want a big fight over £200?
I’m still happy.
Clouds on the Zopa Horizon?
I’ve now got over £30,000 invested in Zopa.
Nothing really untoward has been happening with my money and according to the latest figures, I’m earning a genuine five percent on my money. By a genuine five percent, I mean one that includes all the charges and bad debts. It also takes into account money that is in Zopa, but is not been lent out yet.
Of the 650 or so people I have lent to, only three are in trouble, with one a genuine bad debt and the other two limping along still making payments. That level is below the level forecast by the company and well below the levels experienced by the average finance company.
The graph below shows the rates at which money has been lent out on Zopa.
Zopa Rates to August 2009
Note that since mid-April rates have been rising, but over the last month or so, they have flattened off a bit and they may even have been falling slightly.
The graph below shows the amount of money requested.
Money Requested on Zopa - August 2009
Note how over the last six weeks, the amount of money requested by borrowers has dropped significantly.
Is this and the drop in interest rates linked to the banks being easier places to borrow money or does it reflect a typical lack of business because of the summer holidays? You could argue that the peak in June/July was caused by people borrowing money for holidays or new transport to take them there!
So there could be some fluffy cumulus on the Zopa horizon. We’ll see if business takes off in the autumn.
But a bigger thundery cloud has been seen courtesy of the Office of Fair Trading.
When I first got the letter saying that I must register because of Anti-Money Laundering Regulations, I thought it was a joke or at worst a try-on. Basically, reading the letter it just seems to be a catch-all to raise more money for this beleaguered government.
Why should I pay £115 a year, when my lending is controlled by Zopa and I only transfer money into them, by a straight transfer from my bank account? It is a yearly charge and would cut my rate from five to 4.7 percent.
If every lender on Zopa had to pay this tax, then it would not be the place for lesser mortals to get a decent rate on their money. But then Prudence and his ilk, have never liked private enterprise. Unless of course it benefits themselves!
It could be argued that Zopa is also a competitor to the various State Banks, that Prudence has saddled us with.
But despite all these clouds I will still be putting a percentage of my spare money into Zopa in the future.
The Anonymous Widower 