P2P Forum

Lending Club Discussion => Investors - LC => Topic started by: Half Right on July 17, 2016, 11:00:00 PM

Title: good news finally
Post by: Half Right on July 17, 2016, 11:00:00 PM
LendingClub gains after new hire

    Formerly global COO for BlackRock's iShares, and then head of BlackRock's San Francisco office and head of iShares Global Markets and Investments, Patrick Dunne takes over as LendingClub's (NYSE:LC) chief capital officer.
    He will focus on the most critical part of the company's turnaround effort, says BTIG's Mark Palmer: Convincing investors to return to its platform, while also attracting new sources of capital to fund loan growth.
    "Dunne could serve an important role not only in shoring up LendingClub's investor base, but also contributing to the development and launch of new verticals from the company's marketplace platform."
    Shares +2.45% premarket

Title: good news finally
Post by: rawraw on July 17, 2016, 11:00:00 PM
Interesting.  I don't know if this is a sign of things to change, or trying to just get better with institutional money.  I don't know the Blackrock  business well enough to really understand that person's experience.  Maybe they are thinking of getting more creative with funding?  Guy certainly seems impressive
Title: good news finally
Post by: Rob L on July 17, 2016, 11:00:00 PM
He has one seriously impressive CV. BA economics at Berkeley, MS Management from Stanford ending up (before LC) at the age of 47 CEO of BlackRock asset management (the big leagues). Probably boils down to the credibility he's built with his peers and his ability to build a case for them to take another look at LC. On paper at least it certainly looks like a very good move by LC. I'll be rooting for him from the bleachers. Time will tell.
Title: good news finally
Post by: Fred93 on July 17, 2016, 11:00:00 PM
from: rawraw on July 18, 2016, 04:35:03 PM
Title: good news finally
Post by: Larry321 on July 17, 2016, 11:00:00 PM
from: Fred93 on July 18, 2016, 06:47:31 PM
Title: good news finally
Post by: lender90530 on July 18, 2016, 11:00:00 PM
We want a BRV. But it will never happen because they don't give a damn about us.
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
What does BRV mean?

And, we went for several weeks without very man G, F and E loans and now there are dozens of those loans available.

Title: good news finally
Post by: mchu168 on July 18, 2016, 11:00:00 PM
from: lender90530 on July 19, 2016, 05:47:10 AM
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
Institutional investors and clients of LC Advisors seem to get what they need.
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
Quote"> from: Fred93 on July 18, 2016, 06:47:31 PM
Title: good news finally
Post by: SLCPaladin on July 18, 2016, 11:00:00 PM
from: Larry321 on July 19, 2016, 08:20:10 AM
Title: good news finally
Post by: anabio on July 18, 2016, 11:00:00 PM
from: SLCPaladin on July 19, 2016, 06:07:34 PM
Title: good news finally
Post by: fliphusker on July 18, 2016, 11:00:00 PM
from: lender90530 on July 19, 2016, 05:47:10 AM
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
from: fliphusker on July 19, 2016, 09:40:53 PM
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
from: fliphusker on July 19, 2016, 09:40:53 PM
Title: good news finally
Post by: fliphusker on July 18, 2016, 11:00:00 PM
Quote"> from: anabio on July 19, 2016, 10:16:59 PM
Title: good news finally
Post by: TravelingPennies on July 18, 2016, 11:00:00 PM
Quote"> from: Rob L on July 19, 2016, 10:36:58 PM
Title: good news finally
Post by: anabio on July 19, 2016, 11:00:00 PM
from: fliphusker on July 19, 2016, 10:40:10 PM
Title: good news finally
Post by: lender90530 on July 19, 2016, 11:00:00 PM
Institutional investors and high net worth clients of LC Advisors have a BRV type structure in place to protect their interests. Don't know why LC doesn't give this protection to retail investors. Maybe most retail investors don't care or are unaware of the risks.
Title: good news finally
Post by: Half Right on July 19, 2016, 11:00:00 PM
from: lender90530 on July 20, 2016, 04:47:29 AM
Title: good news finally
Post by: TravelingPennies on July 19, 2016, 11:00:00 PM
@anabio-I really do not know how a bankruptcy would effect things, and hope I never see it either.  I have just a sliver of concerns over it.  My investment strat changed simply because of the FOLIO market and deals there.  Once/if those deals dry up, will go back to normal investing in LC.  A recession coming just because they are cyclical or possibly over Brexit or politics or something else, is a possibility.  2-3% shaved off profits would make me frown, but not bail out.  I do see why others will/would though.  The gambler in me, or maybe naive. 
As far as letting it ride in Vegas, maybe if I was 21 and sitting at a good blackjack table.  :)
Title: good news finally
Post by: Rob L on July 19, 2016, 11:00:00 PM
from: fliphusker on July 19, 2016, 10:42:52 PM
Title: good news finally
Post by: TravelingPennies on July 20, 2016, 11:00:00 PM
Quote"> from: AnilG on July 21, 2016, 03:05:34 PM
Title: good news finally
Post by: rawraw on July 20, 2016, 11:00:00 PM
They used to make quality loans and now they make loans to borrowers who won't pay them back and the recession is coming and they suck!  Another example of them changing the rules
Title: good news finally
Post by: Lovinglifestyle on July 20, 2016, 11:00:00 PM
from: rawraw on July 21, 2016, 05:18:10 PM
Title: good news finally
Post by: TravelingPennies on July 21, 2016, 11:00:00 PM
Correct me if I am wrong, but FOLIO is not owned by LC. 
Sorry Rob, but ya, feel those are trivial/needed changes.  Would anyone seriously gripe right now if they put a cap on markups at 10%?  Some may complain about 5%, but how many notes are intentionally bought in a given month at 5%?
Currently there are over 230k notes on FOLIO with over a 5% markup and not even all those are current.
Come on now, who is going to intentionally buy this?
https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?showfoliofn=true&loan_id=61549167&order_id=84921698&note_id=97536239
RawRaw -- Guess i do not see that.
Lovinglifestyle -- People's notes on their loans really make a difference on buying?  Would you be more willing to invest in someone if they came here?  Look at those scam artists who come here once a month saying they were turned down by LC and want people to invest. 
Title: good news finally
Post by: Peter on July 21, 2016, 11:00:00 PM
from: fliphusker on July 22, 2016, 06:56:37 PM
Title: good news finally
Post by: TravelingPennies on July 21, 2016, 11:00:00 PM
My comment was a joke just FYI.  I know lately it's hard to spot that from regular paranoia lol.

I'm still concerned about the viability of LC, but not the health of prime consumers.
Title: good news finally
Post by: jennrod12 on July 22, 2016, 11:00:00 PM
from: rawraw on July 22, 2016, 09:48:55 PM
Title: good news finally
Post by: TravelingPennies on July 22, 2016, 11:00:00 PM
from: nonattender on July 22, 2016, 08:29:57 PM
Title: good news finally
Post by: Larry321 on July 22, 2016, 11:00:00 PM
For me, the good news is that loads of G, F and E rated notes are returning.

As far as Folio goes, immediately after a note gets issued, I list in on Folio at between a 5% to 8% markup.
I don't seriously expect it be bought, but I figure, that if I can get even one person to buy a 27% loan at 5-8% within the first couple of months, and then I take that money and buy another loan, I have profited right away.

Title: good news finally
Post by: AnilG on July 22, 2016, 11:00:00 PM
There are more benefits of what you are doing than you may realize. When discussing this strategy, I like to use a saying, a bird in hand better than two in the bushes. You might want to consider reducing your markup for newly issued loans and extending your strategy to whole portfolio. The conversion of interest income to capital gains for aged loan has tax benefits. You may take a hit on primary platform NAR with the strategy but the gains from secondary sale, bringing returns forward in time, and tax treatment makes up for it.

from: Larry321 on July 23, 2016, 05:55:55 PM