Lend Academy Network Forum

Lending Club Discussion => Foliofn - LC => Topic started by: jpildis on March 29, 2017, 07:11:26 PM

Title: I just made a $4500 donation to the Folio community
Post by: jpildis on March 29, 2017, 07:11:26 PM
Well, kids, I'm hoping some of you kind souls just scored 80-90% discounts on Never Late, Current loans with FICOs between 630 & 659.  I made a bone-headed error in a selling formula... these should have been listed at around a 10% discount. The transactions have not cleared yet so maybe a few will get canceled due to payments but the carnage is very real.

If you were lucky enough to be on the receiving end of this unintended bargain and would like to help fund my therapeutic Scotch habit, you can assuage your guilt by making a donation to my paypal account: jon@pildis.com

Thanks for reading and always double-check you selling formulas!

Jon
Title: Re: I just made a $4500 donation to the Folio community
Post by: fliphusker on March 29, 2017, 07:20:06 PM
So sorry to hear that. I did pick up some really fantastic never late notes the other day that had YTMs around 50. Made a post about them even.
Sounds like your notes were a lot better quality than I picked up.
Title: Re: I just made a $4500 donation to the Folio community
Post by: Fred93 on March 29, 2017, 07:32:07 PM
I made a bone-headed error in a selling formula...

I made a bone-headed error in a formula one day and bought a bunch of notes I didn't want, but have never fouled it up on the sell side.  Scary, isn't it?  I routinely place automated orders for lotsa bucks, and hope I've done it correctly.
Title: Re: I just made a $4500 donation to the Folio community
Post by: rubicon on March 30, 2017, 09:13:27 AM
Well, kids, I'm hoping some of you kind souls just scored 80-90% discounts on Never Late, Current loans with FICOs between 630 & 659.  I made a bone-headed error in a selling formula... these should have been listed at around a 10% discount. The transactions have not cleared yet so maybe a few will get canceled due to payments but the carnage is very real.

If you were lucky enough to be on the receiving end of this unintended bargain and would like to help fund my therapeutic Scotch habit, you can assuage your guilt by making a donation to my paypal account: jon@pildis.com

Thanks for reading and always double-check you selling formulas!

Jon
sorry to hear that.
why would you be selling them at 10% discount in the first place?
Title: Re: I just made a $4500 donation to the Folio community
Post by: Half Right on March 30, 2017, 12:47:27 PM
If you dont get enough contributions I recommend you switch to Auchentoshen American Oak. It is an exquisite drink and cheap as Borscht.
Title: Re: I just made a $4500 donation to the Folio community
Post by: jpildis on March 30, 2017, 01:20:51 PM
Well, kids, I'm hoping some of you kind souls just scored 80-90% discounts on Never Late, Current loans with FICOs between 630 & 659.  I made a bone-headed error in a selling formula... these should have been listed at around a 10% discount. The transactions have not cleared yet so maybe a few will get canceled due to payments but the carnage is very real.

If you were lucky enough to be on the receiving end of this unintended bargain and would like to help fund my therapeutic Scotch habit, you can assuage your guilt by making a donation to my paypal account: jon@pildis.com

Thanks for reading and always double-check you selling formulas!

Jon
sorry to hear that.
why would you be selling them at 10% discount in the first place?

Well... sub-660 FICOs have a much higher propensity to default and the market dictates a 9-11% discount to get the yield up to 35-40%.
Title: Re: I just made a $4500 donation to the Folio community
Post by: jpildis on March 30, 2017, 01:23:52 PM
If you dont get enough contributions I recommend you switch to Auchentoshen American Oak. It is an exquisite drink and cheap as Borscht.
Thanks for the recommendation, though I like the smokey Islay stuff
Title: Re: I just made a $4500 donation to the Folio community
Post by: fliphusker on March 30, 2017, 03:27:28 PM
Well, kids, I'm hoping some of you kind souls just scored 80-90% discounts on Never Late, Current loans with FICOs between 630 & 659.  I made a bone-headed error in a selling formula... these should have been listed at around a 10% discount. The transactions have not cleared yet so maybe a few will get canceled due to payments but the carnage is very real.

If you were lucky enough to be on the receiving end of this unintended bargain and would like to help fund my therapeutic Scotch habit, you can assuage your guilt by making a donation to my paypal account: jon@pildis.com

Thanks for reading and always double-check you selling formulas!

Jon
sorry to hear that.
why would you be selling them at 10% discount in the first place?

Well... sub-660 FICOs have a much higher propensity to default and the market dictates a 9-11% discount to get the yield up to 35-40%.
Are these never late notes with age? if so, I must miss out on the gravy train when anyone sells with these parameters.
Title: Re: I just made a $4500 donation to the Folio community
Post by: dr.everett on March 30, 2017, 05:44:55 PM
Well, kids, I'm hoping some of you kind souls just scored 80-90% discounts on Never Late, Current loans with FICOs between 630 & 659.  I made a bone-headed error in a selling formula... these should have been listed at around a 10% discount. The transactions have not cleared yet so maybe a few will get canceled due to payments but the carnage is very real.

If you were lucky enough to be on the receiving end of this unintended bargain and would like to help fund my therapeutic Scotch habit, you can assuage your guilt by making a donation to my paypal account: jon@pildis.com

Thanks for reading and always double-check you selling formulas!

Jon
sorry to hear that.
why would you be selling them at 10% discount in the first place?

Well... sub-660 FICOs have a much higher propensity to default and the market dictates a 9-11% discount to get the yield up to 35-40%.

I didn't get them then. That's way outside my FICO range. ;)
Title: Re: I just made a $4500 donation to the Folio community
Post by: kib on October 16, 2017, 02:20:35 PM
Bump

sorry for your loss.  How do you filter notes in your portfolio by credit rating?  I place great stock in fico scores, and I'm pretty tired of having to open each and every single note to see anything but the meaningless arrow.
Title: Re: I just made a $4500 donation to the Folio community
Post by: jpildis on October 18, 2017, 09:44:03 AM
Bump

sorry for your loss.  How do you filter notes in your portfolio by credit rating?  I place great stock in fico scores, and I'm pretty tired of having to open each and every single note to see anything but the meaningless arrow.

I created portfolios in LC for my notes based on their most recent FICO score.  You can see  the FICO in the notes download and it's generally updated every month.  It does take a 2-30 min each month to move notes around if they have had a big FICO change but it's worth it for me.  Once the portfolios are updated, executing a FICO-based selling strategy becomes pretty straight-forward.
Title: Re: I just made a $4500 donation to the Folio community
Post by: hdsouza on November 27, 2017, 08:27:17 PM
I feel you pain man.
A little while ago, I was using NSR Investing to sell my bad notes. and I was listing the LATE notes at 15% discount.
Inreality I listed all my notes.. over 2000. By the time I realized it, my best notes were gone  :( :( :( :(