Title: Volume Decline? Can It Be True?
Post by: DanB on September 01, 2014, 11:00:00 PM
Post by: DanB on September 01, 2014, 11:00:00 PM
So is it true that Lending Club actually had a decline in volume back in June? It's first decline after 39 consecutive months of volume increases? I heard about it a few weeks back, but thought that it couldn't possibly even remotely be true, since something newsworthy like that would have surely been reported immediately on this site by our non investigative reporter/ party planner blog owner.
I'm sorry, I'm being abrasive again. I will excuse myself now before someone here offers me a Kool-Aid
I'm sorry, I'm being abrasive again. I will excuse myself now before someone here offers me a Kool-Aid
Title: Volume Decline? Can It Be True?
Post by: rawraw on September 01, 2014, 11:00:00 PM
Post by: rawraw on September 01, 2014, 11:00:00 PM
Wait . . . did the volume decline?
And DanB, you sure like stirring the pot ha ha
And DanB, you sure like stirring the pot ha ha
Title: Volume Decline? Can It Be True?
Post by: core on September 01, 2014, 11:00:00 PM
Post by: core on September 01, 2014, 11:00:00 PM
Of course the volume had to decline in June, Dan. This says nothing about Lending Club's inept management; there was simply nowhere else for it to go but down, because the interest in MH370's disappearance was waning by May.
When the Boeing 777 disappeared in March, Lending Club took advantage of the deaths of 239 people by running ads on the major news channels. The results exceeded their wildest expectations and they were knocking it out of the park March-April. But even the greatest aviation mystery of all time only captivates people so long, given that the average person's attention span these days is that of a gnat. There was no way, short of a miracle or another air disaster, that the numbers could be sustained through June.
I'm going to give Lending Club the benefit of the doubt here and say that they "probably" had nothing to do with MH370's disappearance, even though they cashed in big time. Just in the right place at the right time, yeah that's the ticket. And now Malaysian Airlines loses another one, MH17 shot down supposedly by the "Russians". Is someone trying to recapture past glory? I don't know, but looking over the LC roster they have quite a few employees from "odd" places all over the world. Based on their photos many of them seem to be screwballs, and from their resumes I can't see any special talents... certainly no talents that you couldn't get right here in the USA from a non-commie American. Either these employees were cheap or they had "connections" that Lending Club wanted.
When the Boeing 777 disappeared in March, Lending Club took advantage of the deaths of 239 people by running ads on the major news channels. The results exceeded their wildest expectations and they were knocking it out of the park March-April. But even the greatest aviation mystery of all time only captivates people so long, given that the average person's attention span these days is that of a gnat. There was no way, short of a miracle or another air disaster, that the numbers could be sustained through June.
I'm going to give Lending Club the benefit of the doubt here and say that they "probably" had nothing to do with MH370's disappearance, even though they cashed in big time. Just in the right place at the right time, yeah that's the ticket. And now Malaysian Airlines loses another one, MH17 shot down supposedly by the "Russians". Is someone trying to recapture past glory? I don't know, but looking over the LC roster they have quite a few employees from "odd" places all over the world. Based on their photos many of them seem to be screwballs, and from their resumes I can't see any special talents... certainly no talents that you couldn't get right here in the USA from a non-commie American. Either these employees were cheap or they had "connections" that Lending Club wanted.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Uh-huh. Though we can all agree that Core does have his lucid & intelligent days, today appears to be one of those other days. Please Core I'm begging you not to help me on this thread.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Yeah and I'm even sober today Dan. Disbelief of the reasons aside, the point remains: the volume had to go down because it had skyrocketed to unsustainable levels.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Post by: TravelingPennies on September 01, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Victor on September 02, 2014, 11:00:00 PM
Post by: Victor on September 02, 2014, 11:00:00 PM
I noticed another sharp decline in available loans but missed the boat on the volume decline. Could these declines be related to the impending IPO and a planned (required) reduction in marketing (self-promotion) to potential borrowers in an effort to avoid running afoul of the SEC in some way?
Title: Volume Decline? Can It Be True?
Post by: BruiserB on September 02, 2014, 11:00:00 PM
Post by: BruiserB on September 02, 2014, 11:00:00 PM
So where is it documented that there was a decline? Not saying there wasn't, just wondering if this is fact or conjecture? I know LC doesn't release monthly figures any longer and it has been pretty clear that they manipulate volume by controlling loan issues near the end of months.
I don't think anyone here is unwilling to listen to negatives about the P2P lenders, but I don't really feel like playing guessing games to figure it out. If you know something about the volume, tell us, don't taunt us.
I've been unhappy with many of LC's recent changes, but so far none of them have convinced me that I should be moving funds elsewhere. I did actually open a Prosper account, but didn't fund it yet as I'm not convinced things are better over there. I do also appreciate that Lending Club has a business to run, so even if I don't like some of the changes, if they make the business and the platform healthier and more financially stable, then I understand that. However, if they begin to erode investor performance and can't achieve acceptable financial results, then I want to know about that as well. It's possible to be direct with bad news without playing games or insulting people with differing opinions.
Sent from my iPad using Tapatalk
I don't think anyone here is unwilling to listen to negatives about the P2P lenders, but I don't really feel like playing guessing games to figure it out. If you know something about the volume, tell us, don't taunt us.
I've been unhappy with many of LC's recent changes, but so far none of them have convinced me that I should be moving funds elsewhere. I did actually open a Prosper account, but didn't fund it yet as I'm not convinced things are better over there. I do also appreciate that Lending Club has a business to run, so even if I don't like some of the changes, if they make the business and the platform healthier and more financially stable, then I understand that. However, if they begin to erode investor performance and can't achieve acceptable financial results, then I want to know about that as well. It's possible to be direct with bad news without playing games or insulting people with differing opinions.
Sent from my iPad using Tapatalk
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Fred93 on September 02, 2014, 11:00:00 PM
Post by: Fred93 on September 02, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Post by: TravelingPennies on September 02, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Fred on September 03, 2014, 11:00:00 PM
Post by: Fred on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
I love Peter, mainly because he strikes me as a very upbeat/optimistic guy. And despite me being a negative Nancy about risk here from time to time, he has always been welcoming to me. So try to lighten up on the guy himself -- but I do agree it is really strange to tout volume increase every month and then ignore the first one to decline.
I've commented once to Peter on his blog that he needs to avoid Lendit and the forum just being a sales pitch for P2P. The problem is putting a bunch of optimists in the room about finance can quickly lead to disaster.
I've commented once to Peter on his blog that he needs to avoid Lendit and the forum just being a sales pitch for P2P. The problem is putting a bunch of optimists in the room about finance can quickly lead to disaster.
Title: Volume Decline? Can It Be True?
Post by: core on September 03, 2014, 11:00:00 PM
Post by: core on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: rawraw on September 03, 2014, 11:00:00 PM
Post by: rawraw on September 03, 2014, 11:00:00 PM
Ha ha Core, while you have a point I think you are reaching
Title: Volume Decline? Can It Be True?
Post by: BruiserB on September 03, 2014, 11:00:00 PM
Post by: BruiserB on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: DanB on September 03, 2014, 11:00:00 PM
Post by: DanB on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: kbenson99 on September 03, 2014, 11:00:00 PM
Post by: kbenson99 on September 03, 2014, 11:00:00 PM
You're missing the inclusion of policy_code 2 loans.
The totals for the 2nd quarter are as follows:
Date Count Amount
April 25,246 $326,905,946.10
May 29,097 $350,638,375.70
June 27,835 $328,401,768.67
Amount total of $1,005,946,090.47 matches to what LC is reporting.
The totals for the 2nd quarter are as follows:
Date Count Amount
April 25,246 $326,905,946.10
May 29,097 $350,638,375.70
June 27,835 $328,401,768.67
Amount total of $1,005,946,090.47 matches to what LC is reporting.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Post by: TravelingPennies on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Fred93 on September 03, 2014, 11:00:00 PM
Post by: Fred93 on September 03, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 04, 2014, 11:00:00 PM
Post by: TravelingPennies on September 04, 2014, 11:00:00 PM
BruiserB.............No apology necessary, but appreciated anyway.
I'm one of the last people that would dream of speaking for Core, but I'm confident you'll find that neither Core nor I are regular contributors here anymore, recent evidence to the contrary non withstanding.
Best wishes for continued success in your p2p investments.
I'm one of the last people that would dream of speaking for Core, but I'm confident you'll find that neither Core nor I are regular contributors here anymore, recent evidence to the contrary non withstanding.
Best wishes for continued success in your p2p investments.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 04, 2014, 11:00:00 PM
Post by: TravelingPennies on September 04, 2014, 11:00:00 PM
kbenson, definitely go with the pr0n DVD instead of the shirt. If you ask nicely (and even if you don't), Dan will give you a blow-by-blow rundown (no pun intended) of all the girls appearing in the film and why he didn't hook up with each one of them. Each, it seems, has a story. For example one of the cuties was apparently fleeing my state. But Dan of course has a reason why he didn't give her the benefit. "Friends" or some such nonsense.
Back to the topic, and you guys can hassle me all you want, but there should be little doubt in anyone's mind that the March spike was not due to LendingClub "just deciding to ramp things up". AnilG was nice enough to post data for me back in April I think it was, and I never posted the chart as I promised. But there is absolutely no question that LC (and Prosper) volume spiked right after that unfortunate incident.
Back to the topic, and you guys can hassle me all you want, but there should be little doubt in anyone's mind that the March spike was not due to LendingClub "just deciding to ramp things up". AnilG was nice enough to post data for me back in April I think it was, and I never posted the chart as I promised. But there is absolutely no question that LC (and Prosper) volume spiked right after that unfortunate incident.
Title: Volume Decline? Can It Be True?
Post by: Peter on September 05, 2014, 11:00:00 PM
Post by: Peter on September 05, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: JoeB on September 06, 2014, 11:00:00 PM
Post by: JoeB on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Post by: TravelingPennies on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: JoeB on September 06, 2014, 11:00:00 PM
Post by: JoeB on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: rawraw on September 06, 2014, 11:00:00 PM
Post by: rawraw on September 06, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Emmanuel on September 07, 2014, 11:00:00 PM
Post by: Emmanuel on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
I didn't say it will make the model less than ideal. I think a blow up will make people pay closer attention than they currently do to the risks involved
Title: Volume Decline? Can It Be True?
Post by: Peter on September 07, 2014, 11:00:00 PM
Post by: Peter on September 07, 2014, 11:00:00 PM
Thanks for your comments everyone. As I have said many times, I am a cheerleader for the space and am most definitely biased. I have made this industry my career and as such I have a vested interest in its success.
But I try hard to be honest and as transparent as possible in everything I do. I think it is unfair to say I will promote "anything lending". I mention companies on Lend Academy who I believe in and who I think would make a good investment. What you never hear about are the many companies I say no to.
As for Rawraw's comment about a blow up I know there are many people concerned about that happening. And I think as investors we should not expect these 10-12% returns to continue forever. There will be a downturn at some point and there will be platforms that go out of business. We all need to heed the risks, myself included, and invest with our eyes wide open.
Finally, I know there are those on this forum who believe I am doing a poor job in many ways and that is fine. Everyone is entitled to their opinion and are free to express it here. But I will continue to work hard because I love this industry and I believe in sharing what I know. Whether this is worthwhile or not is for you to judge.
But I try hard to be honest and as transparent as possible in everything I do. I think it is unfair to say I will promote "anything lending". I mention companies on Lend Academy who I believe in and who I think would make a good investment. What you never hear about are the many companies I say no to.
As for Rawraw's comment about a blow up I know there are many people concerned about that happening. And I think as investors we should not expect these 10-12% returns to continue forever. There will be a downturn at some point and there will be platforms that go out of business. We all need to heed the risks, myself included, and invest with our eyes wide open.
Finally, I know there are those on this forum who believe I am doing a poor job in many ways and that is fine. Everyone is entitled to their opinion and are free to express it here. But I will continue to work hard because I love this industry and I believe in sharing what I know. Whether this is worthwhile or not is for you to judge.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: Cries on September 07, 2014, 11:00:00 PM
Post by: Cries on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: turing on September 07, 2014, 11:00:00 PM
Post by: turing on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: DanB on September 07, 2014, 11:00:00 PM
Post by: DanB on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
I view the forum and news site as separate, although there is some spill over.
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Post by: TravelingPennies on September 07, 2014, 11:00:00 PM
Title: Volume Decline? Can It Be True?
Post by: lascott on September 07, 2014, 11:00:00 PM
Post by: lascott on September 07, 2014, 11:00:00 PM
I get my P2P news from multiple sources just the same as I get my other investment news -- "caveat emptor". This is just standard practice and common sense by investors.
Title: Volume Decline? Can It Be True?
Post by: core on September 07, 2014, 11:00:00 PM
Post by: core on September 07, 2014, 11:00:00 PM