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Messages - rlv99

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Interest Radar / Log-in Problem
« on: June 21, 2015, 01:01:08 PM »
Haven't been able to log-in for about 4 days.  Getting Password Error message.  Is it just me?

Investors - LC / Re: Drawing down a LC IRA in retirement
« on: June 19, 2014, 02:49:43 AM »
I believe that IRA withdrawals should be based on need.  If you don't need the cash, then don't withdraw it thereby increasing your account value each month and minimizing the possibility of frivolous spending. Once you reach the age of 70 1/2, the IRS has minimum withdrawal requirements applicable to IRA's.  You can then schedule your withdrawals to comply with that formula which is what I do automatically on a monthly basis.

Be aware that SDIRA takes 6-7 business days (which I happened to think is excessive) for a withdrawal to show-up in your bank account.

Investors - LC / Re: Available Cash N/A
« on: May 31, 2014, 12:29:19 PM »
.........for the last 2 days I have not been able to move any notes from one portfolio to another

I have the same problem.  I found that I can get one move done, but not more than one without refreshing.  I know....sounds dumb....but it works for me as a temp fix until LC works it out.  My rep is working on it!!!  Just keep refreshing until you get all your moves done.

Hope it works for you, cnmor54

Interest Radar / Auto- Invest Broken?
« on: May 31, 2014, 12:16:01 PM »
Last couple of days, my auto-invest emails have been showing an error message-  "missing security token". 

Anyone else having trouble as well?

Investors - LC / Re: So Many Loans!
« on: May 26, 2014, 12:07:01 AM »
[quote].......this could all just be in my head.[/quote]

I think it may be!  I haven't seen a "wealth" of new loans lately.  Since my two accounts are fully funded now, I find it hard to reinvest the interest earned, unfunded loans, and the Fully Paids.

Investors - LC / Re: Inflation / Will LC raise Rates?
« on: May 22, 2014, 09:35:41 PM »
Besides increasing interest rates, inflation will also decrease the number of Fully Paid since the borrower won't be able to refinance his existing  loan after a few months at a lower rate. 

Off Topic / Re: Moving to Florida. Simon, loan me some money!
« on: May 03, 2014, 03:02:14 PM »
You will always be NJG so keep the name and welcome.....from central Florida

Investing - General (not P2P) / Re: HFT skimming the market
« on: May 02, 2014, 01:06:17 PM »
It's a great book.  I direct my trades through IEX now.

I was going to do same, but my brokers don't seem to offer that option.  Which brokers allow one to direct thru IEX ?

I sent an email to IEX ( and asked them what brokers are currently working with them.  They sent me an email with a full list as well as a form letter to your broker which asks them to place your trades through IEX.  I also asked my broker to confirm that each trade was made through IEX.  I am not usually a day-trader, btw.

Investors - LC / Re: Interest & Charge-off Rate Changes
« on: May 02, 2014, 04:35:17 AM »
I stopped buying B's when they went below 13.65% about 6 months ago.  Now, I don't buy anything below C2's;  just not worth the risk, imo.

Thanks for the heads-up.  Hadn't noticed. 

Investing - General (not P2P) / Re: HFT skimming the market
« on: May 01, 2014, 12:31:07 PM »
Its a bit more complex, as there are multiple schemes, and some of them do affect limit orders.

When you see an ask at 30.00 and you put in a bid at 30.00, and you see that instead of an instant transaction, the ask moves away from you, that can be the effect of a HFT guy screwing with you.  In fact, this scenario is the one that the Flash Boys book begins with.

I have not read the book yet, but I know that with limit orders you are not guaranteed the execution (instant or otherwise).  You are, however, guaranteed the price.

You can still get screwed, Fred.  Suppose the market moves to 29.50 due to HFT manipulations. You buy the stock at 30, the HFT pockets the 0.50.  It's a great book.  I direct my trades through IEX now.

Investors - LC / Re: So Many Loans!
« on: April 27, 2014, 01:36:42 PM »
One thing for sure, the quality of the loans now being posted has diminished greatly.  LC needs to RAISE the interest rates if they want me to consider the loans now being posted.

Introductions / Re: Newbie feeling late to the party?
« on: April 18, 2014, 11:00:29 PM »
I just fully funded a new 6-figure IRA account in 2 months so I am familiar with your concern.

I believe the solution lies in two commitments that you must make:  First,  you need to commit to making each of the 4 release times each day, everyday, until you are fully funded.  Second,  You need to buy your individual notes in an amount that will minimize the time it takes to fully fund the account while still remaining diversified.

I have used Interest Radar and Blue Vestment auto-buy programs;  it goes without saying that the auto-buy programs can back you up when you can't make a release time.  However, I believe that you do come closer to a level playing field by using the LC filters to manually select your notes.  The auto-buy programs have yet to be developed to the level that equals the reasoning power of your own brain.  No matter how hard I try, I can't seem to filter out the "junk" loans that auto-buy programs buy for me on occasion that I wouldn't have bought for myself. 

Committing to  each and every release is simple enough to understand.  The amount of the note you should buy is a function of the amount of money you plan to invest in the shortest time possible.  As an example,  if you want to invest $100,000, I would buy notes no smaller than $200. and continue buying at the $200. level through re-investment of your P+I earned.

Whatever system you eventually choose, I wish you the very best.  LC has been mostly a fun experience for me as well as profitable.  If they could only get their act together on collections and posting of payments...... :'(.......but, that's a story for another thread.


Investors - LC / Re: Give up some numbers.
« on: April 17, 2014, 01:39:43 PM »
In Funding      12
issued & Current  2,234
In Grace period        25
Fully Paid              130
Late 16-30               7
late  31-120           20
Default                   3
charged off             9 
Adjusted NAR        15.76%

Most of the above notes are $50. This account was opened 14 months ago.  I have a second account (IRA; average note $100.) which I opened in January, 2014.  Although fully funded now, too immature to recite here.

While I have used IR and Blue Vestment for auto-invest, I prefer to use the LC filters and select my loans "manually".

Since I am already retired my goal is not to "make us rich" but to supplement existing income and preserve principle which LC has accomplished for me to date.  I drag out amounts equal to interest earned during the month minus defaults and charge offs.

Since the number of your Fully Paid is greater than mine I assume you have been on the platform longer than me which would account for the higher number of charge offs as well.  Thanks for sharing.

General P2P Lending Discussion / Re: Banking without Banks
« on: April 08, 2014, 02:04:09 PM »
For a man of extreme age such as yourself, I'm rather interested why you are so well versed in teenage text slang.

Although I can't hit a golf ball over 200 yards anymore, I don't consider my age as being "extreme".  As for my "teen slang", I am just a product of the "June Cleaver" era who has lots of grandchildren; what more can I say?  The ice cream truck belongs to DanB!!!

......this elderly gentleman took a RUSSIAN into a controlled space.

The Lending Club is NOT the Pentagon or the NSA!!!   Lol

Not knowing the individual's true name I initially thought you were  referring to Mr. (Victor) Vega (Pulp Fiction).

Actually Rob, the character's name is Vince Vega, not Victor Vega.  A classic!

General P2P Lending Discussion / Re: Banking without Banks
« on: April 07, 2014, 02:03:46 PM »
......or showing up uninvited for tours

OMG,  I didn't realize my unannounced visit to LC last October would signal the end of LC to retail investors!!!!

Oh well core, there is  always the stock market, Founders Club, Vegas,  online gambling sites as well as the inevitable competition to LC that will emerge to welcome our money.

Thank goodness I am fully invested now!   8)

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