Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: Rhonda9080 on September 16, 2017, 11:00:00 PM
Post by: Rhonda9080 on September 16, 2017, 11:00:00 PM
I am a very small investor on both Prosper and Lending Club. Recently, my LC portfolio got slammed to -2.57 due to a flurry of late and charged off loans. Oh! The pain in my little purse! Anyway, I was considering complete liquidation when I did a little study of the Folio platform and decided to try sell-off of all unseasoned loans, but use money to reinvest only in seasoned loans on folio with less than 15 payments left. I even bought a couple with less than 5 payments. My Folio notes return is projected at 23.32% now, and combined (with adjusted for past due) is now -59. I guess that's better than -2-57? Is there nya good long-term strategy for recouping losses and getting my P2P back on track?
Any advise would be very appreciated. I have my late and grace period notes up for sale at deep discounts (abt-30%) but no takers.
I also wish in some ways I could liquidate Prosper because they don't offer secondary market anymore, and I could use the liquid investment money to work with, but they are outperforming what I see on LC right now. Any advise there?
Thank you!
Any advise would be very appreciated. I have my late and grace period notes up for sale at deep discounts (abt-30%) but no takers.
I also wish in some ways I could liquidate Prosper because they don't offer secondary market anymore, and I could use the liquid investment money to work with, but they are outperforming what I see on LC right now. Any advise there?
Thank you!
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: twigster on September 16, 2017, 11:00:00 PM
Post by: twigster on September 16, 2017, 11:00:00 PM
I started liquidating Prosper a while ago by turning off re investment. We will see how long it takes to run the entire accounts out (ROTH and regular). I had less in there than in LC. The returns were lagging LC and then when they took away the secondary market that kind of cinched it.
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: TravelingPennies on September 16, 2017, 11:00:00 PM
Post by: TravelingPennies on September 16, 2017, 11:00:00 PM
Yeah, Prosper's lack of secondary market outlet makes me nervous. 
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: EmilyFoxSeaton on September 17, 2017, 11:00:00 PM
Post by: EmilyFoxSeaton on September 17, 2017, 11:00:00 PM
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: yojoakak on September 17, 2017, 11:00:00 PM
Post by: yojoakak on September 17, 2017, 11:00:00 PM
You lost $2.57? Whelp... there goes retirement.
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: anabio on September 17, 2017, 11:00:00 PM
Post by: anabio on September 17, 2017, 11:00:00 PM
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: TravelingPennies on September 17, 2017, 11:00:00 PM
Post by: TravelingPennies on September 17, 2017, 11:00:00 PM
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: TravelingPennies on September 18, 2017, 11:00:00 PM
Post by: TravelingPennies on September 18, 2017, 11:00:00 PM
Title: HELP! LC portfolio got slammed to -2.57!!!
Post by: TravelingPennies on September 18, 2017, 11:00:00 PM
Post by: TravelingPennies on September 18, 2017, 11:00:00 PM
Didn't know that about deceased! ****I like your Will Rogers quote so much!