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Author Topic: HELP! LC portfolio got slammed to -2.57!!!

R
  • Posts: 7
HELP! LC portfolio got slammed to -2.57!!!
OP: 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!


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t
  • Posts: 25
HELP! LC portfolio got slammed to -2.57!!!
#1: 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.
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T
  • Posts: 6588
HELP! LC portfolio got slammed to -2.57!!!
#2: September 16, 2017, 11:00:00 PM
Yeah, Prosper's lack of secondary market outlet makes me nervous. :-
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y
  • Posts: 182
HELP! LC portfolio got slammed to -2.57!!!
#4: September 17, 2017, 11:00:00 PM
You lost $2.57? Whelp... there goes retirement.
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T
  • Posts: 6588
HELP! LC portfolio got slammed to -2.57!!!
#8: September 18, 2017, 11:00:00 PM
Didn't know that about deceased! ****I like your Will Rogers quote so much!
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