Author Topic: Is anyone else having difficulty finding quality notes on Folio?  (Read 5353 times)

Fee

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I'm afraid that my standards have been getting a little lax because of the seemingly increased difficulty of finding quality notes on Folio. Have any of you been seeing the same thing?

yojoakak

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #1 on: January 29, 2015, 11:55:48 PM »
I'm pretty picky but there's usually something available. Just 1 today and very little the last few days.

Fred

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #2 on: January 30, 2015, 05:48:55 AM »
I do not know what you consider as "quality" note.

As a Folio trader, I do not buy a note based on its "quality" (grade, fico, fico trend, status, etc.) alone, but also by its price.

I bought notes continuously throughout the day.  Yesterday, I purchased NoteId=45528215 which was a D grade, Down FICO trend, Current status, 60-mo term at 15% discount, which according to my model was about 3 std-dev below the historical mean of similar notes.

thezfunk

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #3 on: January 30, 2015, 02:29:45 PM »
I put a whole bunch of notes up for sale yesterday.  I would hate to have to post all their numbers but I can, if you guys want.

Fee

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #4 on: January 30, 2015, 08:13:48 PM »
I do not know what you consider as "quality" note.

As a Folio trader, I do not buy a note based on its "quality" (grade, fico, fico trend, status, etc.) alone, but also by its price.

I bought notes continuously throughout the day.  Yesterday, I purchased NoteId=45528215 which was a D grade, Down FICO trend, Current status, 60-mo term at 15% discount, which according to my model was about 3 std-dev below the historical mean of similar notes.

I'm talking about current notes with a great FICO trend, high YTM, and excellent payment history. It seems that the premium has been increasing for these notes.

thezfunk

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #5 on: January 30, 2015, 09:40:48 PM »
I do not know what you consider as "quality" note.

As a Folio trader, I do not buy a note based on its "quality" (grade, fico, fico trend, status, etc.) alone, but also by its price.

I bought notes continuously throughout the day.  Yesterday, I purchased NoteId=45528215 which was a D grade, Down FICO trend, Current status, 60-mo term at 15% discount, which according to my model was about 3 std-dev below the historical mean of similar notes.

I'm talking about current notes with a great FICO trend, high YTM, and excellent payment history. It seems that the premium has been increasing for these notes.

You mean unicorns?  Yeah, I hang onto those.  Although, for enough of a premium, I'll let them go  ;D

core

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #6 on: January 30, 2015, 10:10:11 PM »
It seems that the premium has been increasing for these notes.

Keep paying it, and the premium will continue to increase.  That's how it works, unless you're in commie country. 

The more interesting question is what has changed recently to cause the supply/demand skew _if_ you think there is one?

Fee

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #7 on: January 30, 2015, 10:33:39 PM »
It seems that the premium has been increasing for these notes.

Keep paying it, and the premium will continue to increase.  That's how it works, unless you're in commie country. 

The more interesting question is what has changed recently to cause the supply/demand skew _if_ you think there is one?

My guess is that too many new investors read that Damn 3 seasons article.

core

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #8 on: January 30, 2015, 10:44:25 PM »
My guess is that too many new investors read that Damn 3 seasons article.

Interesting that something I've never heard of could cause such a flood.  Link please?

Is this a reputable organization or is it merely a two-bit site followed by a bunch of get-rich-quick sheep idiots?  I can put up an article too, one that targets just as specific notes.  Notes that my syndicate owns, perhaps.  Do this for a stock and you go to prison.  For LC notes it's currently kosher.  You just keep that in mind.

Grey Tree

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #9 on: January 31, 2015, 10:47:09 PM »
My guess is that too many new investors read that Damn 3 seasons article.

Interesting that something I've never heard of could cause such a flood.  Link please?

Is this a reputable organization or is it merely a two-bit site followed by a bunch of get-rich-quick sheep idiots?  I can put up an article too, one that targets just as specific notes.  Notes that my syndicate owns, perhaps.  Do this for a stock and you go to prison.  For LC notes it's currently kosher.  You just keep that in mind.

Here's a link to the article the OP is referring.

http://www.lendingmemo.com/lending-club-prosper-return-curve/

rock413

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Re: Is anyone else having difficulty finding quality notes on Folio?
« Reply #10 on: February 02, 2015, 05:14:09 PM »
I have bought notes throughout the week. The selection fluctuates constantly changing check back the next day and you will probably find a couple that meet your standards.