Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - Show Me The $

Pages: [1] 2 3 ... 12
1
Investors - LC / Re: Understanding Your Returns Page
« on: January 17, 2014, 06:47:28 AM »
Here is mine FWIW



[attachment deleted by admin]

2
Investors - LC / Re: 100s of notes available again?
« on: October 16, 2013, 11:14:46 AM »
Agreed, it won't happen! no one can be that stubborn and stupid



I don't think you can draw any general conclusions based on what happens this week.  Nothing has been resolved with respect to the budget and debt ceiling yet and things could turn into a real shit show quickly if the 17th comes and goes w/o some kind of resolution to at least the debt ceiling issue.

I'm guessing many institutions are pulling back from making any additional long term commitments until this is over.  If this thing does turn into a crisis and there is some chance it could then typically people sell off assets to raise cash which in turn triggers more selling to meet margin calls etc...   In other words it is prudent to keep what ever cash you have close at hand for the moment if you anticipate the remote possibility you might need it in such a scenario.

But the chance of going past the 17th without an extension, resolution (or whatever word you'd like to use) on the debt ceiling is virtually zero. The institutions all know it, we all should know it,..............so I really don't see the point of bringing it up as a legitimate possibility. Besides almost all institutions are so flush with cash or cash equivalents these days that they have contingencies for a number of improbable scenarios...............even if it all were to happen simultaneously.

3
what i find interesting is the lack of presence on this forum these days....looks like lots of folks who a year ago were VERY active here, have moved on :( This is ad....I didnt get an answer to a similar question...


4
Investors - LC / Re: What the @*&#%^*@^&%$@(
« on: October 11, 2013, 07:21:05 AM »
if i cant put it to good enough use, i dont want LC sitting with it. I am letting my portfolio shrink organically

5
Investors - LC / Re: What the @*&#%^*@^&%$@(
« on: October 10, 2013, 04:11:56 PM »
no, i saw that. I stopped caring though, every time i have $100 or so available, i yank it back out. was good while it lasted

6
Interest Radar / update portfolio....
« on: October 10, 2013, 03:42:53 PM »
IR needs to account for account balance totals with accrued interest being gone....

7
Investors - LC / Re: What the @*&#%^*@^&%$@(
« on: October 10, 2013, 03:39:05 PM »
stupid accrued interest is gone, annoying but more accurate?

8
Investors - LC / What the @*&#%^*@^&%$@(
« on: October 10, 2013, 03:35:19 PM »
ok on

10/5/13 my balance $15,115.52

my balance is now:

$15,001.44....i had no transfers and no write offs...where did my money go?

9
Investors - LC / Re: Why do people buy these notes???
« on: September 18, 2013, 09:34:58 AM »
I had 2 notes go Chapter 7 this weekend.  Listed them for sale on Folio (Dirt Cheap) and they both sold within 2 hours.

I have never had a problem dumping BK notes.  Beyond the usual "The Dumbos aren't reading the log before they buy" responses, can anybody come up with some financial advantage to collecting these notes?  Anything?

I have had not had this experience. I discounted some C notes heavily on a hunch (current) and they did not sell....turns out they went grace, then late, then BK....no takers all the way down.

10
Investors - LC / Re: FolioFN Sell All In-Grace-Period Loans
« on: September 18, 2013, 09:32:29 AM »
As a side note, in their "Careers" section they have been looking for a Collections Manager for the past 4 months.  It is difficult for me to  understand how a company with the number of accounts they have and the amount of dollars coming in can be without a Collections Manager for over 4 months!

I haven't read the job posting, but just because they are advertising it doesn't mean the position isn't currently being handled by someone.  It's possible the person is being promoted but will handle their old position until it is filled.  Or they are about to be sacked.

More likely......they have multiple collection managers. It is a big company now...

11
Investors - LC / Re: FolioFN Sell All In-Grace-Period Loans
« on: September 18, 2013, 09:31:33 AM »

I currently have 6 InGracePeriod loans and a single 15-31 DaysLate note out of over 1000 issued notes.  If my past experience is any clue as to what the future holds for these notes, 4-5 will become current again.  I don't believe it is worth the effort to sweat theses notes since, again, it has been my experiernce that LC is regularly late themselves in posting payments/collecting.

If you are a $25. investor, as I am 90% of the time, then you bought-in to the buy and hold/diversification "strategy" promoted by LC.   If you do,  you  won't experience the selling of IGP's and/or late notes at a discount and them see them become current a few days after they close on Folio.

As I have stated in other threads,  LC payment posting and collection practices are flawed and may lead them to serious problems in the not to distant future.

As a side note, in their "Careers" section they have been looking for a Collections Manager for the past 4 months.  It is difficult for me to  understand how a company with the number of accounts they have and the amount of dollars coming in can be without a Collections Manager for over 4 months!


I agree with rlv99. I used to sell as soon as I got a grace note, even use IR to see collection logs etc. I have found that the vast majority of notes that I sold, eventually became current again, and have been stable for months after sale. I no longer sell at a discount. I use IR to sell automatically at pre determined parameters, specifically at a premium! IF I get it, great and if not...not


12
Investors - LC / Re: Well, I did it....Transferred my money out
« on: August 22, 2013, 02:58:13 PM »
Yup, you got me. I am BIG institution trying to manipulate the 50-100 or so active users of this forum. NOT

13
Investors - LC / Re: Well, I did it....Transferred my money out
« on: August 21, 2013, 01:08:13 PM »
It is just too big of a battle for smallish dollar return. I have an ROI over 16% per LC and over 12% IRR per Interest Radar in my 8 months at it. Problem is, with 15k that i have in it, it is not a lot of dollars even with good returns. And so, while i love the model, this is not for me, WIll let my portfolio ride and sell accordingly on FN and Hasta La Vista

14
Investors - LC / Well, I did it....Transferred my money out
« on: August 21, 2013, 11:57:21 AM »
I just initiated a transfer of my cash balance. It does me no good sitting there or floating in 'funding'. I am done with LC at least under the current model. I am sick of fighting and clawing for tiny edges, it is just not worth it. GAME OVER!

15
Investors - LC / Re: More gaming of the system?
« on: August 17, 2013, 02:57:02 PM »
Frankly, I put the rest of my initial 15k to work and likely wont be adding more. I t is too competitive and time consuming for me to spend trying to hold ground at  a game that I am powerless to win. Agree with the above, RIP LC et al. this will soon just be an institutional game like everything else and we get screwed, end of story.

Pages: [1] 2 3 ... 12