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Messages - Laslow

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1
Investors - LC / Re: They got me
« on: January 29, 2014, 11:47:29 AM »
I would avoid Folio and stick to buying and holding freshly issued notes. Too many scammers / hucksters in the market who will take advantage of every loophole they can. 

2
Investors - LC / Re: Verified income
« on: May 31, 2013, 02:21:22 PM »
Although we're no longer able to use income verification as a criteria for filtering, I feel it still has it's uses. How many loans are declined because they failed income verification? We don't have access to this info, but I bet that verification has saved us from many defaulted notes.

3
I should have said he wouldn't have been personally liable.

The "master" (employer) in this case is the LLC, and would most certainly be liabile in any case.  But not the LLC member(s).   Provided link did not say anything to the contrary.

Yes, but combine it with

http://en.wikipedia.org/wiki/Piercing_the_corporate_veil

And you have precedence for getting personally sued. Again, an LLC is as close as you can get to protection against losing your personal assets, but it's not absolute protection, even under the best of circumstances. All it takes is for a jury to decide that your company is poorly/improperly capitalized and you're toast.

4

If an employee of his had done the same thing he wouldn't have been liable.


Not true. Ever hear of respondeat superior? 

http://en.wikipedia.org/wiki/Respondeat_superior

 That plus precedence on piercing the corporate veil means that the owner of an LLC can absolutely be held responsible. That's why, if possible, you always want to make sure you hire independent contractors if at all possible for your business. Lets be honest though, the average juror is an idiot, as long as the other side can prevent the case from getting thrown out, you're most likely gonna get screwed because you're the "big bad bossman".


5
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: May 29, 2013, 06:09:54 PM »
Rev,

Just wanted to check up on the progress regarding investing in multiple notes for the same LC loan in the same IR account. I opened up additional trial accounts as you had suggested to do this, but there is only 14-ish days left in the trial period. If the change isn't made in time, should I open additional accounts until the feature is implemented?

Any update on this enhancement?

Seconded. The accounts I two accounts I had funded to do this have run out of their 30-day trial period. I'd hate to have to create new accounts as it's quite tedious to get everything set up.

6
Interest Radar / Re: auto-invest
« on: May 09, 2013, 02:16:59 PM »
After having auto-invest in observation mode, I switched last night to "online" so that the program would place actual orders.

Orders at 6am resulted in investments in both notes that met  my criteria.

Email at 10:05am shows that 5 notes are available to invest because they meet my criteria. Next email at 10:07am shows that only 3 of the 5 notes were invested in, because the other 2 notes were already fully invested.

So perhaps based on the randomization algorithm that IR auto-invest is using, there are enough IR investors using auto-invest that we are competing with each other to invest in some of these loans, and that's the reason why some of us don't get to invest in some of these notes.

Hard to believe that even with using auto-invest, there are times where our desired loans get funded so quickly that we are missing out on investment opportunities.

Is anyone else using auto-invest and seeing that sometimes they are still not getting into all of the loans they want to invest in?

Absolutely, it's happening more and more often as time goes on. From what Rev has said before, there aren't that many people using Autoinvest, so I don't think that it's IR that's causing these fully funded loans, unless things have changed in the last week or so. I'm thinking it's a big fish with their own auto-invest software. It's happening more and more often. Rev, can we make IR refresh loans every 5-10 seconds? Maybe that'd let us head off this big fish.


Below is my loan activity for 8AM today. That seems to be the worst time when it comes to loans being fully funded. Sometimes 75% of the loans I've targeted will be funded....


Loan ID   Strategy   Amount   Status
4525738   AutoInvest 1   $25   Invested
5037131   AutoInvest 1   $25   Invested
4196129   AutoInvest 1   $25   Invested
4765316   AutoInvest 1   $25   Invested
5027013   AutoInvest 1   $25   Invested
5027191   AutoInvest 1   $25   Loan fully funded
5027159   AutoInvest 1   $25   Invested
4124597   AutoInvest 1   $25   Invested
5027258   AutoInvest 1   $25   Invested
5027264   AutoInvest 1   $25   Invested
4777400   AutoInvest 1   $25   Invested
5026940   AutoInvest 1   $25   Invested
5026898   AutoInvest 2   $25   Invested
5037284   AutoInvest 2   $25   Invested
5036955   AutoInvest 2   $25   Invested
5026962   AutoInvest 2   $25   Invested
4807453   AutoInvest 2   $25   Invested
4805820   AutoInvest 2   $25   Invested
5026885   AutoInvest 2   $25   Invested
5036949   AutoInvest 2   $25   Loan fully funded

7
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: May 02, 2013, 11:43:48 AM »
Rev,

Just wanted to check up on the progress regarding investing in multiple notes for the same LC loan in the same IR account. I opened up additional trial accounts as you had suggested to do this, but there is only 14-ish days left in the trial period. If the change isn't made in time, should I open additional accounts until the feature is implemented?

8
Woo, I managed to get invested in all of these loans thanks to auto-invest. Thanks Rev!

I have a side question, I'm concerned about the other big dog who's investing in these loans, I assume they're using their own automated investment program. Is IR scanning for new loans quickly enough? What's the lag time between loans being posted and IR picking them up?

9
Investors - LC / Re: Finally had my first defautó
« on: April 18, 2013, 11:57:39 AM »
... and it is FL.

Anybody else uses borrower's State as a risk factor?

If so, how do you define a risky state?  I am keen to know data/evidence, please do not share anecdotal support.

Search the forum and you'll find a post with a historical lookback on default rates per state. I don't personally use it as a filter.

10
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: April 17, 2013, 09:08:10 AM »
Error placing order. Overlap with another order detected.

Just thought I'd report the issue to you, I'm guessing Interest Radar tried to log in on two of the accounts and invest at exactly the same time?

This happens when LC merges two note orders into one and $25 becomes $50. Are you sure you were not manually investing at the time auto-invest run?

Hmm, I don't think so. I'll report back if I see the error message again.

11
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: April 16, 2013, 05:24:09 PM »
Hey Rev,

I have a bug to report. I've been using the work-around you discussed in order to invest in the same loan with three $25 notes. It's worked like a charm until the 2PM loan update today. Below is the message I got from Interest Radar:


Interest Radar found matches to your Auto Invest strategies:

Loan ID   Strategy   Amount   Status
4280876   AutoInvest   $25   Order submitted
4310816   AutoInvest   $25   Order submitted
4299844   AutoInvest   $25   Order submitted
4374945   AutoInvest   $25   Order submitted
Error placing order. Overlap with another order detected.


Just thought I'd report the issue to you, I'm guessing Interest Radar tried to log in on two of the accounts and invest at exactly the same time?

12
Investors - LC / Re: A tough month for Bankruptcies?
« on: April 16, 2013, 12:01:45 PM »
Since there seems to be a current shortage of notes in Folio, I'm going to guess that there are some sophisticated buyers at the moment running automated investment programs picking up notes that match their algorithms. perhaps the reason why there are so many "Bankruptcy" notes is because their algorithms are filtering them out, but picking up the other notes, so that you're seeing bankruptcies over-represented in the population? Just a theory.

13
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: April 16, 2013, 09:56:13 AM »
Well, I assure you it wasn't IR's auto-invest. Today IR put $4150 in 34 different loans. Not enough to scratch the surface...

Good to know! There definitely seems to be some big fish in the market currently, what with the shortage of Folio notes and the speed some of these loans are getting completely snapped up at.

14
Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: April 15, 2013, 05:23:24 PM »
Well, time to bite the bullet. I was camped out today on my filters for the 2:03PM update, had around 15 different loans hit my filters, and the majority of the good ones were all scooped up by the time I hit the invest button. I have no idea if it was Interest Radar auto-invest or some other service, but I hope this trend doesn't continue, and I hope auto-invest will beat whoever it was to the punch! Any updates on investing $25 in the sample loan multiple times?

15
Investors - LC / Re: LC's growth cycle
« on: April 10, 2013, 06:23:06 PM »
It's definitely frustrating how slowly I can deploy funds at LC. My filters are quite broad (D-G notes with the riskiest loans filtered out), I'm shooting for around a 14% ROR, yet I'm usually only able to deploy a couple hundred dollars per day, and this is with putting $75 in notes of higher quality. I feel it shouldn't be a challenge to invest $5k a month with my current strategy, but somehow it is. We need more borrowers for sure.   

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