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Messages - nonattender

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1
Investors - LC / Re: hardship fields in spreadsheet wrong
« on: May 09, 2020, 07:44:52 AM »
I complained to lending club and they insist they do not think it's misleading to list them as "never late".

Get that in writing.  Apparently they're a bit slow on learning those "tone at the top" lessons.

2
Off Topic / Re: How to write interesting texts?
« on: April 30, 2020, 10:36:07 AM »
My turn-ons include:

- people who know the difference between "literally" and "figuratively" (and don't use literally to mean figuratively)

- people who answer their phones and can have a conversation without needing to resort to flat two-dimensionality

- people who retain some sense of their own humanity and do not believe that they're just an algorithm or formula

- revisiting my old hobby forums to gad about and see what happens with loan performance / underwriting models

3
I don't know much about the Chinese financial system, but I suspect part of the reason it grew faster is not just regulatory differences but also they have less established means of accessing credit. Our lending ecosystem is quite mature

Well, they're catching up... and they don't seem to have any compunctions or moral hesitancy about using the tech for other purposes.

https://www.justice.gov/opa/pr/chinese-military-personnel-charged-computer-fraud-economic-espionage-and-wire-fraud-hacking


4
Investors - LC / Re: What loan purpose to avoid?
« on: February 11, 2020, 04:21:25 AM »
So you all realize that people can check any box they want don't you??? The purpose is not verified. This is a silly discussion.
Irrelevant.  Historical data shows that when we divide loans by which box was checked, we see different performance in the different groups.  This means the variable has value.  Yes, we realize it isn't verified.  In spite of this, it has value.
Yikes!  Garbage in-garbage out. I continue to be incredulous at these comments.

At this point we have to make a distinction between philosophy and science.  The philosopher sits in a dark room and has grand thoughts about how he thinks the world might be.

The philosopher is the guy who thinks "Fred's happy making underwriting decisions based purely upon statistics.  Make sure Fred - or people who think like Fred - are never able to implement such a one-size-fits-all statistical control method to qualitative humanitarian enterprises."

You ever see Errol Morris' documentary about Bob McNamara?  All kinds of data, but not much in the analysis/insight department - a ton of collateral damage.

Same shit playing out in a variety of disciplines/fields, right now...  Technology - actually, more of a false Scientism - is on the loose.

I say "false Scientism" because I think that a lot of what you imagine as philosophy is actually "sociology dressed up in Science talk."

You might enjoy the preface to Kant's Critique of Pure Reason where he talks about how function Reason(Reason) is a bit 'recursive.'

Anyway... I know this is like 3 years old... I do wish I'd seen it back then...  Sad that philosophy/science won't unite against bullshit!

:)
-t

5
Investing - General (not P2P) / Re: Steel Parners Holdings
« on: December 19, 2019, 05:28:30 AM »
i'd like them to spin webbank, especially since those new "alt" bank charters got killed and webbank (and about 10 others) own the mkt - alternately, someone should buy it off them... i'm sure they're willing to hear offers.  for reference, cross river, which is a little bank in NJ that does similar things, has gotten major VC interest over the the years and is valued at like ~5x current mkt cap of the entirety of splp.

i note you found the preferreds;  that's the "safe" play.  but, uh, they aren't printing any more of those licences to print money nationally, so, that's... what... uh... piqured my interest in splp, proper.

6
Investing - General (not P2P) / Re: Steel Parners Holdings
« on: December 19, 2019, 03:57:49 AM »
Anyone have thoughts on SPLP?

Yup, largely of the "this stock price should be higher" variety.

7
Off Topic / Re: Cash Parking
« on: March 01, 2019, 01:17:30 AM »
Well, then, for those who want 3% and still live in a free state. :)

(The SCB 3% acct, above, is a liquid fdic savings acct, not a CD.)

Speaking of free states:

AndrewsFCU.org (home of Air Force One!) has a 6mo 3.25% CD.
(It's a new money only thing, and is only open like 2 more days.)


8
Off Topic / Re: Cash Parking
« on: February 28, 2019, 03:17:40 PM »
Well, in light of DLI exploding, here's a safety play:

https://www.scb.bank/personal/savings-solutions/

3% APY FDIC-insured savings (6 month intro rate).

$100k min. deposit, but FDIC-insured to $250k. :)

9
Investors - LC / Re: LC Securities Litigation Class Action Settlement
« on: January 05, 2019, 10:03:02 PM »
And I decided to submit my claim online and uploaded four proof of claim PDF files with the application;
purchase trade confirmation, sale trade confirmation, May 2016 account statement and April 2018 account statement.

I received the following confirmation:

Dear Claimant,

This automated email is confirmation of your recent online claim submission in the LendingClub Securities Litigation settlement.

Your claim number is: LBS-XXXXXX-X

You must keep us informed if your address changes.

We are currently accepting and processing claims for this case. Claims
processing in settlements such as this can take an average of nine months to
a year before distribution is approved, and in some instances there may be
additional delays due to appeals or other issues.


Did you hear anything else / get a check, yet?  Coming up on nine months...

Tangentially, I haven't been paying attention;  is the total exposure amount fixed and declared and accounted for in an LC SEC filing, yet?

10
Off Topic / Re: Cash Parking
« on: December 14, 2018, 06:13:23 AM »
My assumpting is SIPC, but will see once more is known.   I hopped on the list.  Assuming it's to it her more people on their brokerage accounts.  Free there = selling your order flow.  But kids these days like being the product to get something for free.

Yes, SIPC is my understanding of the insurance that will be provided on funds, up to $250k.  The product is not scheduled to launch until Q1 of 2019, so, thing may change and there may be delays.  I remember signing up with Robinhood - or trying to - a few years ago when they were about to launch free crypto services, but I didn't have the one type of cellphone platform (Apple) that they supported - and they had no other way to access their platform.  Maybe that will change... or already has.  I never went back.

There are a few 3% APY liquid FDIC checking/savings accounts around, but they're in limited areas.  I think there's one in part of Texas, one in a few counties around Detroit.  There's a 2.50% APY online FDIC acct being offered by a Boston bank, on the nationwide side.  EBSBDirect, I believe, is the name of that one.

For short term CD's, I think there are some attractive-looking 3mo and 6mo at just under 3 (2.7-2.9 or so) at... Advancial?  Sounds right - not sure.  Connexial, Advancial, something like that.

I've been out of the equity market, mostly, for a while - still avoiding tech, kinda - but am starting to do some value shopping, at these levels.  Not trying to catch the exact bottom, but do think the bullshit pessimism is overblown, on an earnings basis, for many names...

11
Investors - LC / Re: LC What's working these days?
« on: August 11, 2018, 06:01:11 PM »
As Clint Eastwood famously said (Unforgiven); "I was lucky in the order, but I've always been lucky when it comes to killin' folks."
With some modesty I will say I've done alright with my varied investments over a very long period of time. Traded just about everything but pork bellys.
Most would probably consider my lifetime LC overall returns as good. I certainly do, but that party has ended (IMO forever).
I'm an engineer and understand the math. I will never know if I've been good or just plain lucky.
If anyone can answer that question they're smarter than me (or just fooling themselves). Don't know how anyone can know.
I've always had a big problem with that question; but as Clint said, I've been lucky (or maybe good; I dunno and never will).
Guess it could have gone either way.

Howdy fellas.  Just checkin' in to say:

https://www.youtube.com/watch?v=J34esa_aJxc

Glad you're all also still not dead.  :)

12
Off Topic / Re: Cash Parking
« on: April 11, 2018, 03:24:18 PM »
I wonder if they remember these answers and check later how well customers predicted their own actions.  One could fantasize that it's like the ratings that Uber drivers give to customers.

You should ask them for a copy of your SalesForce profile next time they call.  They won't give it to you, but it'll be a fun phonecall. :)

13
Off Topic / Re: Cash Parking
« on: April 11, 2018, 02:19:50 PM »
Quote
I'll say two Hail Moonbeams and see if I stop seeing a strange resemblance between modern day California politics / 1860's era Southern States.

Interesting.  I've not heard that comparison before.  There are many problems with California politics.  I'm doin' what I can, but I'm all alone here!

Well, it just kinda strikes me as the new home of indentured servitude.  They pay, but, relatively speaking, it looks to me just a little bit too much like a smug liberal version of sharecropping, complete with the continual importation of labor (which then votes "correctly"). ;)

I think some guy published a piece along this line in The Atlantic a few weeks back, but the outcry from the overlords made 'em retract.

That guy is lucky he's not in the Atlantic, now (like tied to a boat anchor, at the bottom of it) - after saying truths out loud that made it uncomfortable for agriculture and the H1-B tech mafia...  Luckily, they're still polite out there and he's just being shunned at dinner parties (and being unfriended on the Facebook / losing "followers" / getting mean frowny faces or whatever.)

(If you're feeling lonely, say two Hail Rohrabachers and head Orange-way?)

14
Off Topic / Re: Cash Parking
« on: April 11, 2018, 01:23:36 PM »
I'd feel uncomfortable owning Californian municipal debt, but that's probably just the result of some sort of subconscious bias that I have against bankrupt, totally-out-of-control spenders whose governments and/or politicians seem, if the fake news can be believed, to be about to secede... :)

I'll say two Hail Moonbeams and see if I stop seeing a strange resemblance between modern day California politics / 1860's era Southern States.

(I'll be fine.  You probably will be, too;  I don't know.  That stuff's not for me, though.)

15
Investing - General (not P2P) / Chris Larsen's Talk at LendIt 2018
« on: April 10, 2018, 02:02:46 PM »
For those of you who were around in the early days of this space (and have fond memories of getting to play with a new toy):

http://www.lendit.com/usa/2018/videos/a-conversation-with-chris-larsen-of-ripple-on-building-the-internet-of-value-usa-2018

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