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Messages - Cries

Investing - General (not P2P) / Robinhood?
« on: September 11, 2014, 11:00:00 PM »
Highly recommend IBKR for all your discount brokerage needs, if you are an active investor.  (call it, 10+ individual security trades a year). 

Not only do they really shine on equities - but you can do options & bonds cheaply as well.  Nobody else offers the kinds of deals they do.  Very well established already; and very large
Investors - LC / LCAC - "undefined" loans
« on: November 14, 2013, 12:00:00 AM »
Hey guys.

To anyone using LCAC's loan scanning function - are a significant portion of your loans coming up as "undefined"?

I just noticed this today when I scanned my loans.  Approx 50% of my loans are now showing "undefined" as their FICO, and the links to the loans on lendingclub's website are broken.

Is there a fix?  Did I break something?
Off Topic / The Stock Market Thread
« on: October 29, 2013, 11:00:00 PM »

Short: LOCK
Sold this year: SALM, HES, BCOR, TSRA, POST, ADT, ADES

I dont index.  I like concentration.

Information herein also may pertain to unregistered securities; accordingly, such information may not be disseminated or used in any manner that would be deemed a general solicitation. This is not an offer or solicitation for the purchase or sale of any security.
Investors - LC / Folio and IRAs
« on: October 28, 2013, 11:00:00 PM »
Opened my IRA about 4 months ago, have been buying/selling actively on Folio, including flipping distressed notes.

Should I expect the feds to come knocking?
Investors - LC /
« on: September 11, 2013, 11:00:00 PM »
I thought i was the only one.  I figured all my notes were imploding simultaneously; glad someone brought it up.

Now maybe I can sleep tonight.
Investors - LC / "Borrower Contacted LendingClub," etc.
« on: August 26, 2013, 11:00:00 PM »
BK Counsel = "talk to my BK lawyer; peace"
Investing - General (not P2P) / The Next Crash
« on: June 18, 2013, 11:00:00 PM »
Rawraw, I feel like we read many of the same blogs online. 

Anyways, I have not seen any evidence that we are out of the recession that started in 08/09.  I am not buying or holding any indexes currently because the risk way outweighs any potential returns.  (I actually sold the last bit of my indices this afternoon - tired of of the endless volatility due to FOMC speculation.)

I have all my money in consumer credit, 3-4 value stocks, 4 special situations, and a pile of puts on a a massively overvalued equity.  I believe that everything I own is insulated against a market sell-off/crash, although I would love to hear what I'm doing wrong from anyone with an opinion.

I've been giving this stuff a lot of thought lately.
I just quit my job working in a corporate/investment banking role at the bank with the largest asset management arm in the US.  I can attest that there are "kickbacks" (in your words).  However, on the bank's side, these are structured as cross-sales to justify relationship lending. 

In short, the banks go pitch the CFO/treasurer at corporations and say: "use our high-expense/recently-incubated funds in your 401k, and we'll forever give you cheap loans under any terms you want."

This happens at just about F500 company.

It goes without saying that I immediately pulled all my money out of my company's plan upon resignation. 
It wasnt hard to generate 20+% returns over the last year or so.  Almost any equity basket would have gotten you those returns - keep in mind its been an incredibly bullish market.  If you've been watching your return over the last month or so, then you were bound to be disappointed - we've been going sideways for most of April, with a selloff along the way.

Personally, I wouldnt trust any brokerage research; they almost never generate ideas/theses with anything that hasnt already been priced in (aka, you will always be the last to buy; never the first).  I also think its a bad time to be buying equities in general (but thats another story).  If you are looking for good ideas, I encourage you to get a trial account at DDIC and VIC (although full accounts are considerably better). 

If you had to invest in equities, but dont have much time to do so, I'd recommend RSP (an equal weight ETF) for US equities.  Its cheap and will get the job done better than most other passively managed ETFs (read The Big Secret For the Small Investor; by Greenblatt for more info).  However, again, I dont think now is a good time to be buying (I've been slowly liquidating my 401k, IRAs, and personal portfolio over the last 4 or 5 months)

If you ever plan to pick individual equities again - I'd highly recommend a fairly lengthy reading list of value investing books (Margin of Safety; Stock Market Genius; Value Investing; A Long Short Story; Financial Shenanigans).  If you dont read these, you are (in my opinion) very ill-equipped to be managing your own equity portfolio.