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Messages - macroman7799

[1] 2
Off Topic / How to write interesting texts?
« on: January 18, 2021, 12:00:00 AM »
I'd say the first step is practice. Write something that you think is interesting and share it with friends to see what they think. Refine. repeat.

If you come up with something that seems worthwhile take it to some publishers or self-publishers or self-publish on Amazon.
Suggestions /
« on: January 18, 2021, 12:00:00 AM »
The problem is that there is virtually no interest in peer to peer lending. With that being the situation there are few legitimate questions and the spam, while not terribly frequent, really sticks out.
Investors - LC / RIP Lendingclub Notes
« on: January 13, 2021, 12:00:00 AM »
I sent a question on January 3rd and still no response. How long should we expect to wait?
General Lending Club Discussion / Short Squeeze or the Real Deal?
« on: December 08, 2020, 12:00:00 AM »
I think the thing that you're missing is that the market likes the shutdown of the retail platform. It's a cost center that wasn't generating enough volume to justify itself. I really don't think that there is any definitive evidence that LC has turned the corner though.
Investors - LC / Loan Availability by Initial Listing Status, 17Q3
« on: December 04, 2020, 12:00:00 AM »
It's been slim pickings. I have a hard time finding homes for what my $13,000 account throws off. I wouldn't even want to think about managing $100 K. I would probably resort to buying $100 lots. With LC on the verge of shutting down retail I'm sure most people could give a wit.
Introductions / Hello Everyone
« on: November 24, 2020, 12:00:00 AM »
Welcome. You will find that there is not much going on but please check it out.
General P2P Lending Discussion /
« on: November 24, 2020, 12:00:00 AM »
Years ago I was declined for a Prosper loan because my debt to income ration and revolving balances were too high. I did get to talk to an underwriter but it did not help I was still declined.
Investors - LC / Collections when the Notes platform is discontinued
« on: November 24, 2020, 12:00:00 AM »
I think that Lending Club collections are already getting less emphasis. I checked the detail pages on 3 past due notes and none of these had any new collection notes.
Investors - LC /
« on: November 24, 2020, 12:00:00 AM »
I'll be transferring my LC assets to an IRA to invest in stocks. I am using Motley Fool Stock Advisor to supplement my research.
Investors - P / Good Returns on Prosper?
« on: December 31, 1969, 07:00:00 PM »
I carefully pick my notes though I have not always. I've really learned to avoid lower income and high balance borrowers.

A 6 year old non-IRA that I'm not reinvesting in is at about 3.86% all seasoned.
A 3 year old IRA where I am reinvesting is 5.7% seasoned and 5.85% all notes

Both are as reported by Prosper. One problem with Prosper's reported returns is that they don't really account for delinquencies until the notes are written off. Depending on the risk of your mix this overstatement can be substantial. Prosper uses grades AA-E and HR for high risk. Both my Prosper portfolios are pretty low risk approximately

AA-5%   A-35%  B-35%  C-15%  D-HR-5%

For comparison my 4 year old LC IRA is reporting 5.3% using roughly the same strategy even though I ran it on autopilot when I first dumped the funds in there and the LC return was between 2-3% for a long time.

Another thing that I don't like about Prosper is that their loan information is much less granular. Income categories for example are annual income 0-25K, 25-50K, 50-75K, 75-100K and over 100K. In today's world I would like to know the borrower's income more precisely and in many areas the 100k income really is not enough to fund the average lifestyle and loan repayments. LC by contrast reports a fairly specific monthly income amount.

Overall I am happier with LC and I'm sorry to see it go. I don't think that I will move LC funds to Prosper.
Investors - LC / Bonus payment
« on: October 15, 2020, 11:00:00 PM »
I think the bonus payments are an indication that Lending Club did not have some diabolical plan years in the making to shut down the retail platform. They were trying to keep it viable and just recently decided that it is not viable.

The Folio Secondary Notes platform shutdown was likely outside of Lending Club's control.
Investors - P / Expect Increased Supply of Notes
« on: October 11, 2020, 11:00:00 PM »
Yeah I don't see any stampede of investors to Prosper. I wouldn't be surprised at all if Prosper pulls the plug on retail within a year or so, especially because the market had a positive reaction to Lending Club's move.

I don't so much mind the lack of a secondary market, I knew when I invested that I was looking at a minimum 5 year payout schedule. My P2P investments are in IRAs so I was thinking about them like annuities. When I am ready to start drawing from them I just quit or slow reinvesting and start the withdrawals.

Now if the companies decide they don't want to maintain the platform that kindof goes to %h*&.
Investors - LC / RIP Lendingclub Notes
« on: October 09, 2020, 11:00:00 PM »
I think LC has sunk in popularity quite a bit and of course not everyone uses this forum.

Investors - LC / RIP Lendingclub Notes
« on: October 08, 2020, 11:00:00 PM »
I think they're talking about IRA custodian fees for account maintenance and transfer which can be substantial.
Investors - LC / LC Picks New Year Sale
« on: October 08, 2020, 11:00:00 PM »
Is the sale still on?  :)
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