Poll

How much time do you spend investing loans on Prosper each week?

Less than 1 hour per week
7 (63.6%)
Between 1 - 3 hours per week
3 (27.3%)
Between 3 - 10 hours per week
1 (9.1%)
More than 10 hours per week
0 (0%)

Total Members Voted: 11

Voting closed: May 11, 2013, 02:40:50 PM

Author Topic: time spent on Prosper investing  (Read 2183 times)

ee1x

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time spent on Prosper investing
« on: April 11, 2013, 02:40:50 PM »
Posing the same question as Fred, but for Prosper instead since I'm curious to know.

I'd like to try the Poll feature of this Forum.

On average, how much time do you spend on LC Prosper investing per week?

This includes time spent on:
- researching loans on the LendingClub Prosper and FolioFN platforms,
- running filters on other P2P research sites (InternetRadar, PeerCube, ...),
- running Excel analysis (if any),
- other "researching" activities.
Investing since March 2012

hippo387

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Re: time spent on Prosper investing
« Reply #1 on: April 11, 2013, 03:42:36 PM »
Around 10 minutes per day if I have $$ to invest. Initially I spent a lot of time on research, but now that I have filters in place I just log on when new loans are posted and see what's available. Every few months I might take a more detailed look at my notes, especially any delinquencies / defaults, to see if my strategy needs to be tweaked. But in my opinion there are diminishing returns on too much time spent on analysis. Running detailed models and even backtesting is, if taken to the extreme, a statistical pseudo-science that can lead to overconfidence (cf. the blowup of LTCM and Taleb's Fooled By Randomness). Better to employ a patient, common-sense strategy. Just my opinion, but trying to predict returns or squeeze out an extra 1-2% is not worth the time. Maybe I'd feel differently if I were investing for a living. I actually enjoy spending time on investing but have learned that more time doesn't always = better returns, in fact more often just the opposite (overconfidence, getting "too cute").

Peter

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Re: time spent on Prosper investing
« Reply #2 on: April 11, 2013, 06:45:08 PM »
I have been relying on Automated Quick Invest for a long time which takes 0 hours per week. But with the recent problems I have been logging in more regularly. But I have my saved searches all setup so it only takes me a few minutes each time I login to invest what I need.
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