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Messages - veggivet

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DanB will be chairing a panel on 'life experience' and the world's shortest presentation on customer service.


I am strict with spelling and grammar. One mistake and no $$ from me.

Investors - LC / Re: My first - WTH loan - A5 declaring bankruptcy
« on: April 06, 2013, 10:14:35 AM »
As we all know, bankruptcies occur in all loan grades. I no longer invest in A grade loans because I don't think the interest rate is not worth the implied risk. With respect to this particular loan, I find it hard to believe the loan applicant didn't have the bankruptcy planned when he made the application for the loan. Certainly not the first time this has occurred on LC, and it surely won't be the last. FWIW, I have had some success selling these types of notes on the folio platform at a steep discount.

Investors - LC / Re: How much of your portfolio goes to P2P lending?
« on: April 01, 2013, 08:08:30 PM »
About 1% of my portfolio, not including real estate, and the vast majority of that is in a LC SIMPLE IRA. I am in my early 50's, and starting to downshift into retirement mode.

Investors - LC / Re: would you have funded this loan when it listed?
« on: March 02, 2013, 01:16:10 PM »
I wouldn't have, due to short employment history and CA.

Your post made me go back and look at the original listing again.  I only filter <1 year on employment history, so location would still have been the only critieria that would have filtered this out.  I am curious what you use for length of employment criteria.


I like to see at least 5 years at current job. 10 is even better.

Investors - LC / Re: 388 loans in browse notes? what happened to 1800?
« on: March 02, 2013, 01:14:45 PM »
Good advice. I have almost $1500 sitting idle right now in my IRA. Loans that I feel comfortable with a becoming less and less common. I don't worry too much about the money not working for me. It owuld only be earning around 1% in my online bank.

Investors - LC / Re: Massive Survey suggests new UI?
« on: March 02, 2013, 12:27:53 PM »
No survey for me, but I have less than 25k invested between two accounts.

Investors - LC / Re: would you have funded this loan when it listed?
« on: March 02, 2013, 12:24:38 PM »
I wouldn't have, due to short employment history and CA.

But again, is evidence-base analysis really better than some common sense criteria?

Can you give me any example in real life where evidence based analysis is worse than common sense criteria? Just one.

Loans with verified income have a higher default rate than loans without income verification.

General P2P Lending Discussion / Re: Background of P2P Investors
« on: January 29, 2013, 09:11:54 PM »
Orthopaedic Surgeon... Interesting only one other person in medicine on here.

We tend to know a lot about debt unfortunately.

I guess I make it three on the medicine list here, though I don't practice on people. I find the whitecoatinvestor blog very informative as well. The majority of my investments are in the stock market, where I have been lucky picking a few home run stocks that made up for several duds. I maintain one IRA account and a small taxable account with Lending Club, and am just reinvesting interest payments at this point.

Investors - LC / Re: 2008 and 2011 S-1s and other docs
« on: January 27, 2013, 07:08:23 PM »
I'm glad I went into medicine, and not something as complicated as tax law! Thanks for your insights.

Investors - LC / Re: PRIME Questions and Strategies?
« on: January 27, 2013, 07:04:47 PM »
I'm sure Peter Renton will chime in here, but his PRIME account has the lowest returns of all his accounts. I would not recommend using it.

I never do.

Investors - LC / Re: FMV of distressed notes
« on: December 22, 2012, 10:10:33 AM »
Calculating FMV rests on the assumption that you are dealing in an 'efficient market'. Does anybody on this board believe that the folio interface allows for this? All the calculations/bots you guys are discussing are, in my opinion, moot in this situation given the cumbersome construction of the interface on folio. 

Investors - LC / Re: Do you see more late notes during the holidays
« on: December 17, 2012, 07:50:02 PM »
Funny you should mention this today. I check my accounts daily and had 5 notes go into grace period today. I've never had that many in one day. Two of the notes have already paid back more than $25, so they will probably go back to current. I don't recall if this happened last year around this time, but it would make sense to me that cash flow might be tighter for many at this time of the year.

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