P2P Lending / NFT Lending Forum

Prosper Discussion => FolioFN - Prosper => Topic started by: Bohb Daishi on March 10, 2014, 11:00:00 PM

Title: First
Post by: Bohb Daishi on March 10, 2014, 11:00:00 PM
Had to do it.  ;)


On a more serious note, how many of you actively purchase notes on Prosper's secondary market?
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Post by: core on March 10, 2014, 11:00:00 PM
Thanks for ruining my idea, Bohb.  I was going to post a fake sticky about how this subforum is empty because Prosper sucks.

But to answer your question, I buy notes on Prosper occasionally.  Prosper sucks because the notes don't show up after you buy them. I hate to sound like a broken record. There is absolutely no reason any sane investor would use Prosper.  Prosper sucks.   I've posted my "list" in the Prosper forum at least once.  Investors, stay away from Prosper.
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Post by: Keltset on March 10, 2014, 11:00:00 PM
I tested the waters and my dislike for Prosper only grew....
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Post by: Lovinglifestyle on March 10, 2014, 11:00:00 PM
I bought about 12 notes in '08 and never went back after the quiet period for SEC.  Don't expect I ever will, thanks to Core.  Coincidentally, I just browsed there for first time in ages, minutes before this.  The ones I bought all paid in full.
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Post by: cnmor54 on March 10, 2014, 11:00:00 PM
I have 16 more notes to get rid of and then I will be so done with Prosper!
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Post by: neals384 on March 10, 2014, 11:00:00 PM
At least one sane lender uses Prosper because he lives in a no-LC state.
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Post by: TravelingPennies on March 11, 2014, 11:00:00 PM
from: neals384 on March 11, 2014, 11:02:17 PM
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Post by: TravelingPennies on March 11, 2014, 11:00:00 PM
from: neals384 on March 11, 2014, 11:02:17 PM
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Post by: thezfunk on March 11, 2014, 11:00:00 PM
I have sold on Folio on Prosper but I haven't bought yet through Folio.  Prosper holds my taxable account whereas my Roth is at Lending Club.  I started at Prosper in 2010 and was super conservative and didn't do that well.  I never lost money but averaged 4-6% return.  Better than a savings account but not where I wanted it.  I had no idea what I was doing.

I decided to sell a bunch of my conservative notes and go higher risk.  Consequently, my return last year was over 13%.  Unfortunately, since I don't have automation on Prosper, I can only ever get 'C' notes.  Because of that, I want to get into Folio but it's so bloody user unfriendly.  I am pretty sure I can go to my local tech college and get some guys who could do a better job with that interface and search-ability.

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Post by: Peter on March 14, 2014, 11:00:00 PM
from: Bohb Daishi on March 11, 2014, 03:04:45 AM
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Post by: Jmar42 on March 18, 2014, 11:00:00 PM
Are Prosper notes not on Folio LC secondary market?
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Post by: TravelingPennies on March 18, 2014, 11:00:00 PM
from: Jmar42 on March 19, 2014, 04:33:22 PM
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Post by: TravelingPennies on March 18, 2014, 11:00:00 PM
So you have to open an account at LC and Prosper in order to access each market individually.  Wow, archaic.
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Post by: TravelingPennies on March 18, 2014, 11:00:00 PM
from: Jmar42 on March 19, 2014, 08:33:46 PM
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Post by: TravelingPennies on March 18, 2014, 11:00:00 PM
from: Jmar42 on March 19, 2014, 08:33:46 PM
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Post by: Keltset on March 19, 2014, 11:00:00 PM
For some reason I am reminded of the argument that Netscape should be bundled with Windows because Internet Explorer was.... hmmmmm
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Post by: Jmar42 on March 19, 2014, 11:00:00 PM
Yep, makes no sense having two illiquid markets.
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Post by: twigster on May 10, 2014, 11:00:00 PM
Decided to sell some out sized Prosper loans.  For all the knocks, the interface is pretty good (at least how it relates to selling notes).  I really like the 'sell at auction feature'.  There seems to be decent liquidity.  The first time around selling at auction starting with 0 % most notes got two or three bids driving up the price a little. 
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Post by: Emmanuel on May 11, 2014, 11:00:00 PM
Quote"> from: thezfunk on March 19, 2014, 09:02:18 PM
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Post by: TravelingPennies on May 11, 2014, 11:00:00 PM
Ideal would be a central limit order book  (CLOB),with priority to only displayed loans.
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Post by: thezfunk on May 11, 2014, 11:00:00 PM
from: Emmanuel on May 12, 2014, 10:59:38 AM
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Post by: TravelingPennies on May 27, 2014, 11:00:00 PM
from: Jmar42 on May 12, 2014, 11:06:59 AM
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Post by: TravelingPennies on May 27, 2014, 11:00:00 PM
This p2p lending market is very young. Because it is so new there will be much more innovation such as dark markets like the equity markets. You will also have more then the folio ATS. There will be several ats's like folio.