Author Topic: Sweet new Folio sales page  (Read 29512 times)

Joleran

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Sweet new Folio sales page
« on: October 23, 2013, 04:15:26 PM »
Markup/Discount and YTM are now shown for you on the sales page.  If you do anything manually, this will save you a lot of calculator time!

Edit:  Significantly less awesome is that the repricing screen does not have this new data.
« Last Edit: October 23, 2013, 04:21:46 PM by Joleran »

yojoakak

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Re: Sweet new Folio sales page
« Reply #1 on: October 23, 2013, 07:36:02 PM »
Which page?

Joleran

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Re: Sweet new Folio sales page
« Reply #2 on: October 23, 2013, 08:26:31 PM »
Folio -> Sell Notes

Select a note and click the button to sell notes.

lender_john

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Re: Sweet new Folio sales page
« Reply #3 on: October 23, 2013, 08:31:52 PM »

That is actually a huge improvement that will hopefully lead to a better folio marketplace.

SBryantMS

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Re: Sweet new Folio sales page
« Reply #4 on: October 23, 2013, 09:19:20 PM »
Not there when I do a reprice -- Huh -- only update one of the two usage pages?

core

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Re: Sweet new Folio sales page
« Reply #5 on: October 23, 2013, 10:26:40 PM »
You guys missed the most important change of all.  I had a sneaking suspicion they didn't add these calculation fields out of the goodness of their hearts.   There is a new message that can appear if you price it high enough:

Notes cannot be listed at prices that result in a negative Yield to Maturity for the buyer. Please adjust your price before listing.

Congrats to anyone that called it weeks ago.  Oh, was that me?  :(

yojoakak

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Re: Sweet new Folio sales page
« Reply #6 on: October 23, 2013, 10:48:05 PM »
Notes cannot be listed at prices that result in a negative Yield to Maturity for the buyer. Please adjust your price before listing.

So much for keeping all my notes in Foliofn at high markups just because the Foliofn interface is marginally better than LendingClub's. BOO!

core

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Re: Sweet new Folio sales page
« Reply #7 on: October 23, 2013, 10:57:30 PM »
So much for keeping all my notes in Foliofn at high markups just because the Foliofn interface is marginally better than LendingClub's. BOO!

Excellent point.  I do that too, and hadn't even considered all of the fuss this is going to cause me in that department as well.  If they would just show you the max price you could enter that would simplify things a bit.  As it is you have to sit there and keep brute forcing the prices until they work out.  So far I haven't been able to duplicate LC's calculations.

Double BOO for Lending Club!  It is a sad day.  Cue the Star Wars music...   Episode V - Stephanie Strikes Back!

yojoakak

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Re: Sweet new Folio sales page
« Reply #8 on: October 23, 2013, 11:27:12 PM »
If they would just show you the max price you could enter that would simplify things a bit.  As it is you have to sit there and keep brute forcing the prices until they work out.  So far I haven't been able to duplicate LC's calculations.

Instead of putting the necessary information into the browser to do the calculation (e.g. interest rate and maturity) they're making a callback to the server for each and every note every time the price changes.

SWEET!


core

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Re: Sweet new Folio sales page
« Reply #9 on: October 23, 2013, 11:33:08 PM »
Instead of putting the necessary information into the browser to do the calculation (e.g. interest rate and maturity) they're making a callback to the server for each and every note every time the price changes.

SWEET!

Heheh yeah I noticed that.  Trust me, on a high latency satellite connection you really notice it, even before dusting off the sniffer.  It would have been too easy for them for include the necessary javascript to do this client side.  But they chose not to.  Why?  I know why -- because they want to keep their secret YTM sauce to themselves.  Why would they need to keep the calculation a secret if things are on the level?

yojoakak

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Re: Sweet new Folio sales page
« Reply #10 on: October 24, 2013, 12:56:57 PM »
For some small notes you can't even list them for principal + interest.

What's up with that?


core

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Re: Sweet new Folio sales page
« Reply #11 on: October 24, 2013, 01:02:30 PM »
For some small notes you can't even list them for principal + interest.

What's up with that?

Because the YTM calc takes into account the 1% servicing fees.  We have to protect these innocent buyer victims from losing a single penny, you know.

DanB

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Re: Sweet new Folio sales page
« Reply #12 on: October 24, 2013, 01:54:00 PM »
For some small notes you can't even list them for principal + interest.

What's up with that?

Because the YTM calc takes into account the 1% servicing fees. We have to protect these innocent buyer victims from losing a single penny, you know.

That's right.
Of course for every measure there are countermeasures & so on & so forth. Right Core? I'm sure that he's already found at least one & is now  taking advantage of yesterdays changes as well as potentially positioning himself to take advantage of the inevitable fire sale by other less intelligent sharks who haven't figured out any countermeasures yet & may decide to just dump their super high premium notes. I say may, because desperate sharks can be unpredictable. Just watch those nature channels.

Will any of this cause any disruptions for the other 99% of LC/Folio investors who use the marketplace in a more "conventional" fashion?   Highly unlikely. You can just sit & watch the shark on shark action & maybe even pick up a few notes on the cheap if you so wish.  Will this depress prices for "current" never late notes on Folio longer term? I doubt it. It'll of course decrease the number of super high premium notes & of course the negative YTMs.................which is a good thing for the vast majority of the non-shark population. It'll probably slightly decrease prices in the "now current" notes.............which were pretty shark infested previously, but that's about it imo.

Of course all the above projections are just my highly educated guesstimates. It's not like I work for LC or anything. :)  Instead think of me as an Orca, just doing my thing. If some innocent buyers choose to swim near me in "relative safety"........... & away from shark infested waters, then I'm happy to protect. If I happen to be in the mood, these innocents might even get to see me defile a shark or two, just for fun. I've been known to do that.  :)



rlv99

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Re: Sweet new Folio sales page
« Reply #13 on: October 24, 2013, 02:26:44 PM »
The sweet new Folio page doen't work for me!  Can't submit thew notes for sale from the new pricing box as seen in the attachment.

Maybe stefanie is mad at me for describing her as Kate Upton?



[attachment deleted by admin]

core

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Re: Sweet new Folio sales page
« Reply #14 on: October 24, 2013, 02:39:03 PM »
I don't wish to see you deflower any sharks Dan, thanks though.  Be sure to update your already colorful resume with this newest one!  Killer whale.  Shark wrangler.

Yes there are already countermeasures discovered and at the ready.  Probably some cash to be made from this event in the short term, but looks like I should start on another sauce to keep profits up.  Orca fin might be just the exotic ingredient I was looking for.