MoolahSense investing Thread

[wonghw12]

The tally for me now stands at:

Paid 31
Current 1
Late 2
Past Due 7
Doubtful 5
Loss 10
Closed Off 5

Meanwhile, the e-statement shows that my 'average rate of return' is 19.56% in spite of the above tally. Can someone help reconcile this?

Is this how MoolahSense achieves its 'consistent superior risk adjusted return'?
https://www.moolahsense.com/blog/20...rm-consistent-superior-risk-adjusted-returns/

 

[Supersian]

Side track abit, just logged in to my FS and was greeted with the year summary page...

You’ve invested a total of SGD 16,150.00 in 97 loans. You’ve received SGD 416.86 in interests in 2018, with SGD 231.29 to be received in 2019*.

this is based on my deposit of 5k.. which hard to have it all auto invested.. didnt get into each campaigns detail but about 8% return.. help to offset some of my loss in MS..

 

[myename]

Perhaps Moolahsense reads this thread - they sent an email out from their CEO today LOL

 

[wonghw12]

Perhaps Moolahsense reads this thread - they sent an email out from their CEO today LOL

Mind copy pasting here? I didn't receive

 

[JuniorLion]

Side track abit, just logged in to my FS and was greeted with the year summary page...



this is based on my deposit of 5k.. which hard to have it all auto invested.. didnt get into each campaigns detail but about 8% return.. help to offset some of my loss in MS..

It is really sad that people got scammed....

Might learn to be less greedy (i.e. not yearn for 18% p.a. returns).

 

[Simonlee1977]

MoolahSense just called, a China customer service asking for feedback.
Y I withdrawing funds recently.
Replied about seeing all investors losing money, i will withdraw every 100 dollars from now on till I closed the account.

Ask if there’s some new offer if I would take up, I told them never bcos I dun trust your side anymore.

Told them their company already bad reputation, better closed down n set up another company

 

[Simonlee1977]

Agree on FS. Been consistent in payments.
I think bcos of the stringent checks.

Side track abit, just logged in to my FS and was greeted with the year summary page...



this is based on my deposit of 5k.. which hard to have it all auto invested.. didnt get into each campaigns detail but about 8% return.. help to offset some of my loss in MS..

 

[Simonlee1977]

Hi

Thank you for your feedback.

Majority of the investors are having positive experience on our platform. There are a minority who may not have made the expected returns and we will continue to work hard to improve the situation.

We will back our words with actions and results. Please keep your feedback coming.


Thank you for your patience.

From MoolahSense after I mentioned so many bad reviews.
Lol

 

[Supersian]

Does anyone know if we need to report the earnings in tax filing? Just received a tax assessment email from cm that spore tax residents should report the gross interest income earned?

 

[wonghw12]

No need to report. Have asked IRAS before.

 

[clyclycly]

My experience with MS.

My dashboard
Current 46
Late 8
Past Due 11
(so 41.3% of loans in trouble)

Out of the 19 trouble loans, 4 of them missed first payment - for me that's a screaming red flag that the borrower is a scammer trying to get some free cash, and MS didnt do its job screening borrower.

I am in the process of pulling out. Probably done with this crowd funding thing and stick to HY ETFs .. (dodgy borrowers too but at least a bit better ..)

 

[clyclycly]

My guess is MS consider the account receivable to be part of your portfolio value. So the moment you invest, you have already "made" the 24% or 18% return - even tho lots of them are pies in the sky.

For example, I have put in 20k in my account, and right now my dashboard shows
MY Portfolio: around $19k
My receipts: around $6.7k

So i have a whooping return of 28.5% perhaps? tho 40% of my loans are past due or late.

The tally for me now stands at:

Paid 31
Current 1
Late 2
Past Due 7
Doubtful 5
Loss 10
Closed Off 5

Meanwhile, the e-statement shows that my 'average rate of return' is 19.56% in spite of the above tally. Can someone help reconcile this?

Is this how MoolahSense achieves its 'consistent superior risk adjusted return'?

 

[devion]

recently alot of Indonesia firms getting loans from this platform. How much of your late payments are from Indo?

 

[Simonlee1977]

I withdraw every time there is 100 bucks in my account.
See Liao vomit blood

My experience with MS.

My dashboard
Current 46
Late 8
Past Due 11
(so 41.3% of loans in trouble)

Out of the 19 trouble loans, 4 of them missed first payment - for me that's a screaming red flag that the borrower is a scammer trying to get some free cash, and MS didnt do its job screening borrower.

I am in the process of pulling out. Probably done with this crowd funding thing and stick to HY ETFs .. (dodgy borrowers too but at least a bit better ..)

 

[wonghw12]

Breakdown on my end:

In Funding 0
Paid 32
Current 1
Late 0
Past Due 6
Doubtful 3
Loss 11
Closed Off 8

Good luck for those still vested. Net of interest earned from fully paid borrowers, I am seeing 5% crystallized losses based on the 8 'Closed Off' cases. If you add the ones in "Loss" status, my net loss is closer to 20%.

MoolahSense has been providing very little assistance to debt recovery.

Even if capabilities are lacking, MoolahSense has been hindering the procedure to bring the borrowers to court - worse still, hope my gut sense is wrong, I suspect MoolahSense may profit off investors who insist to pursue the legal route. MoolahSense has also been undertaking restructurings on a unilateral basis that is detrimental to lenders.

 

[sp1980]

My Investments
Find out what these statuses mean.Click here
In Funding 0
Paid 33
Current 22
Late 2
Past Due 11
Doubtful 3
Loss 8
Closed Off 1
Total Invested Amount : S$ 10,200.00

Current Snapshot
Principal Received S$ 7,747.76
Interest Received S$ 670.35
Late Interest Received S$ 78.68
Outstanding Principal S$ 2,352.70
Outstanding Interest S$ 135.27
Current In Funding S$ 0.00
Available Funds S$ 0.00
Closed Off Principal S$ 99.99
Closed Off Interest S$ 7.12


Basically i'm losing money.

 

[Simonlee1977]

At least still 22 current.
If all paid should be better than mine.
Past due, doubtful n loss already more than interest received.

My Investments
Find out what these statuses mean.Click here
In Funding 0
Paid 33
Current 22
Late 2
Past Due 11
Doubtful 3
Loss 8
Closed Off 1
Total Invested Amount : S$ 10,200.00

Current Snapshot
Principal Received S$ 7,747.76
Interest Received S$ 670.35
Late Interest Received S$ 78.68
Outstanding Principal S$ 2,352.70
Outstanding Interest S$ 135.27
Current In Funding S$ 0.00
Available Funds S$ 0.00
Closed Off Principal S$ 99.99
Closed Off Interest S$ 7.12


Basically i'm losing money.

 

[sp1980]

At least still 22 current.
If all paid should be better than mine.
Past due, doubtful n loss already more than interest received.

I'm stopping investing since July or August 2018 and fully withdraw out fund every week. I will try again MS if they can reduce the default rate.

 

[tcwehcs]

I have many issues with Moolahsense which I ended up disabling auto invest feature compared to Funding Societies.

1) can’t auto invest based on period, industries, amortized or bullet etc
2) inflated earnings when earnings not earned only project
3) within a year I have 1 loss and 1 soon to loss whereas in Funding Societies almost two years no issue yet.
4) no app built for MoolahSense

So now I slowly wait all recovered then close this chapter and move on.

 

[Simonlee1977]

I withdrew every 100 possible.
Now at fs n capital match.

I'm stopping investing since July or August 2018 and fully withdraw out fund every week. I will try again MS if they can reduce the default rate.