The Simon Gompertz Effect
Yesterday, the BBC published a well-researched article on its web site, by its Personal Finance Correspondent, Simon Gompertz, about peer-to-peer lending. I commented on it here.
It was the only article on the subject picked up by Google yesterday and featured on the BBC’s most read list of articles on its web site for most of the day.
As a member of Zopa, I follow their figures closely, which are easily accessible to any borrower or lender. The amount of money that lenders have demanded from the site has risen significantly.
At 09:00 on Saturday, the money demanded by prospective borrowers was £9.4million, whereas at the same time today the figure was £14million. Over the same period, the amount of money made available by lenders was £18.2million on Saturday and £12.1 today.
Doing a crude calculation means that £6.1million of lenders money has been allocated to borrowers and there are another £5million or so that could be lent. Zopa’s team of credit experts will be kept busy on Monday, checking all these new borrowers. And probably rustling up some more funds to lend.
Is this all the effect of one well-written article by Simon Gompertz on the BBC?
There’s another good article in the Observer today. I suspect that Zopa’s figures will be just as interesting tomorrow.
Update on 11th June 2012 at 08:00
Total demand is now £15.8million up and funds available are £11million. This works out as a swing of £13.6million over the weekend.
It did look at a few other weekends and typically, there is a swing between £2.5million and £4.5million.
Whatever the truth is, something extraordinary happened! And it is all good! Unless of course you’re a banker!
It’s The Only Apron I’ve Got!
I cooked a Morroccan chicken casserole on Friday night and because of the height of the new cooker, I get the odd splash.
Cooking a Casserole
The apron was a present from a Michelin-starred chef from Glasgow, who’s moved his restaurant, Mr. Underhill’s to Ludlow.
Any resemblence between Chris Bradley and myself is purely coincidental.
Pharmaceutical Packaging
If ever there was something that was almost designed to cause mistakes, it is the packaging for pharmaceutical drugs.
The first thing, I do, when I open a packet of drugs is to throw the leaflet in the middle away, as it gets totally in the way, when you want to put a half-used strip back in the box.
I don’t find the bubble packs difficult, but I know some do. But one of the drugs I have, has some bubbles that don’t contain drugs and these could easily cause confusion with someone with limited vision.
Incidentally, I never read the leaflets, supplied with drugs, preferring to read about the drug on the Internet on an appropriate web site. So why doesn’t each drug packet have an easily readable code on it, that you just type into a web site and it gives you everything you could want to know, including the various generic names. One of my drugs comes in two different shapes and sizes, which could easily cause confusion.
The system is a complete mess.
Incidentally, I have to take two groups of drugs; one when I get up and one in the evening. I take them out of the silly bubble packs and put everything I need into old 35mm. film canisters; white for the morning and black for the evening. Usually, I fill the morning one as I go to bed, so that it gets checked again in the morning when I take it. I do the evening one after breakfast and always keep a second set in my coat, so that if I get delayed and stay out, I have my drugs with me. I also have reminders set in Outlook in my computer about when I should take my drugs.
The New and the Old
This picture shows a New Bus for London overtaking its predecessor at the Balls Pond Road/Mildmay Park stop.
The New and the Old
In some ways this picture shows the manoeuvrability of all London double-deck buses, as it was able to pull out from behind and get alongside for the lights.
The New Bus for London does have regenerative breaking and drivers have told me the acceleration is very good, so does the hybrid drive line mean that at some time in the future, it could have traction control?
What Do You Do With Urban Foxes?
There’s a story in the Standard about foxes plaguing a smart part of London. Here’s what Brent Council said.
When contacted by residents, Brent council said it did not have the funding to deal with foxes but hoped to serve a legal notice on the owner of the property to remove the vegetation.
The council claimed it could leave itself open to prosecution if it moved the animals.
Craig Johnstone, of the council’s Public and Animal Health Team, wrote in an email: “Dealing with foxes is quite a specialist field. It’s not that simple to just trap and relocate them.
“Doing this could leave us open to prosecution as releasing a fox into another area (countryside) could cause the fox unnecessary suffering.”
A farmer friend of mind has had urban foxes dumped on his land. As they have never had to hunt and have just scavenged, they are rather lost and get very hungry. He’s even seen them begging round his tractor, whilst he sits there eating his sandwiches for lunch.
They should be humanely destroyed.
Everybody Needs a Dry Cleaner
Mohamed Mahamoud Sheik thought that and has now opened a shop in Mogadishu in Somalia, as reported on the BBC. He is quoted as saying.
When they read ‘Somali Premium Laundry’, they say, ‘wow, is this a real laundry?”
If there was an international business award for the most outrageous start-up he should win it.
Good luck to him!
My Nokia 6310i Got Cooked
It now looks like my Nokia 6310i seems to have got rather cooked in this house. I’ve always felt that the atmosphere was weird to say the least and according to the menders the phone has suffered from water damage, as had the other one I sent to them. Perhaps the reason the Junkberry has died is down to the same reason and obviously, it might have something to do with why computer mice keep packing up. I’ve also had trouble with the remote control of my television. The remote control problem is usually solved by bringing in the one from the bedroom, which is virtually the same. But the air in the bedroom is different. It looks like the electronic equipment gets hot and then all of the water condenses on it.
This would also explain, why I feel so much better, when I go for a walk.
The Sun Discusses Zopa
I was a bit surprised at this story about peer-to-peer lending that appeared in The Sun.
It is a fair factual article, which should make readers think about what they should do with their money.
A Death Sentence for Dancing
This video is on the BBC’s web site. It tells the story of four women and two men, who may have been sentenced to death at a wedding for dancing. The Pakistan Supreme Court is investigating.
A Clip of Video from the RAF
The RAF has just released this video taken from the Lancaster during the flypast to mark the Diamond Jubilee.
Note that the pilot and passengers in the Lancaster, are wearing very 1940s bone-domes. It would also appear, that there are quite a few free-loaders going along for the ride.
The RAF should make more videos like this.
The Anonymous Widower 