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Messages - Fred93

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Borrowers - P / Re: Attn: Loan ID: 10165805
« on: August 09, 2019, 03:36:53 PM »
That loan will quickly fund.  Don't worry.

Investors - LC / LC new interest rates Aug 2019
« on: August 07, 2019, 08:22:02 PM »
As investny pointed out in the other thread, LC has changed interest rates again, only 1 month after the last change.

An unusual change.  Only D rates were changed.  It really looks like a fix for mistakes made last month.  One of the odd things about last month's rates was that C5 and D1 bumped into each other, having almost exactly the same rate.  This month's change has D1 moving up away from C5.  .. and some smaller changes in D2, D3, and a tiny change in D4.

Investors - LC / Re: Review of my lending club account
« on: August 04, 2019, 12:00:09 AM »
Adjusted Net Annualized Return   5.63%

That's a reasonable return for the past couple of years. 

I  might be the only person on this forum that is happy with my Lending Club account. I think I came in after the the blood bath that a lot of you talk about. 

I'm still here.  Been investing with LC for over 10 years now.

Investors - LC / Re: Cancelled and Cancelling
« on: July 30, 2019, 03:02:25 PM »
I also have a 0 in that category, and I've certainly had loans cancelled in the past.  I suspect that the number means how many were cancelled since the day they stopped just making cancelled notes disappear.  Future cancelled notes will stay in the total.

Investors - LC / Re: Cancelled and Cancelling
« on: July 29, 2019, 09:24:41 PM »
Cool.   Its new to me.  For a long time, cancelled notes were handled in a very confusing way.  They just "disappeared" from the UI.  Sounds like they finally fixed that.

Borrowers - LC / Re: 2nd chance to do right
« on: July 28, 2019, 03:34:42 PM »
You need to figure out how to get a higher paying job, or a 2nd job.  A single minimum wage job isn't enough to support a family. 

Your debt isn't the problem, and borrowing more likely isn't the solution. 

Sorry this isn't what you wanted to hear.

Borrowers - LC / Re: 2nd chance to do right
« on: July 27, 2019, 07:16:44 PM »
Try or

Why would 3K in debt keep you from "starting your life" ?  This is a relatively small amount.

Investors - LC / Re: LC loan quality shift April 2019
« on: July 18, 2019, 12:18:57 PM »
In July it looks like they're making more notes available than in the preceding few months, but there is heavy competition for them.  On the whole-loan market they are bought instantly.

Please report errors you see to LC.  They can't fix stuff they don't know about, and in my experience they don't know about anything that you don't tell them about.

Might be a good thing as I seem to remember that many large mutual funds have rules against holding stock priced less that $10.00.

See the holders (as of last quarter) here...

I've reproduced the list of names of funds.  You can follow the link to see all the numbers.  These are the hugest index funds (excluding those which only invest in large cap companies).  There may still be funds with a $10 limit on share price, but the big index funds are apparently not among them.

Top Mutual Fund Holders
Vanguard Total Stock Market Index Fund   
Vanguard Small-Cap Index Fund   
ARK ETF Tr-ARK Innovation ETF   
iShares Russell 2000 ETF   
Vanguard Small-Cap Growth Index Fund   
Vanguard Extended Market Index Fund   
ARK ETF Tr-ARK Web x.0 ETF   
DFA U.S. Small Cap Series   
iShares Russell 2000 Value ETF   
Fidelity Extended Market Index Fund   

This also highlights a problem with the stock market these days.  Most of most companies are held by index funds who don't  have any interest in the details of a particular company's performance, management, etc.  To cover their asses, these institutions hire outside firms to tell them how to vote their shares.  The outside firms, who fear being fired due to some scandal more than anything, vote in the most politically correct fashion possible.  This is not a good way to run anything.

I've been a bit more positive on the company since they announced they were moving 350 jobs to Utah. A much needed step in the right direction.

I'd be more positive if they could make a profit and we saw growth opportunities.  (at the same time would be most excellent)

Investors - LC / LC new interest rates July 2019
« on: July 09, 2019, 05:31:17 PM »
LC adjusted their interest rates as of 7/6/19, and has announced that there will be no more E loans.  (They had previously killed off F&G loans tho they continued to publish interest rates for these nonexistent loans, so I plotted them.)

I've updated my interest rate charts.  Here is the recent history of LC interest rates vs time...

You can see that they've discontinued E, and spread out the D interest rates to cover the territory previously occupied by E loans.  A few years ago when they were pushing for volume, they degraded the quality of E,F,G loans so that they were no longer a good investment.  D loans are more like what E loans were a few years ago. 

They also increased (a little bit) the interest rates in B and C. 

One bizarre detail...  They did not increase the D1 rate.  C5 and D1 are now almost exactly the same rate.  This looks very strange, but there is a clue.  Note that the D1 rate has been stuck at 17.97% for the last few update cycles.  That's just barely below 18%.  My guess is that there is some state with an 18% limit, and they're holding back on D1 artificially to keep it under the limit. 

Another way to look at this data is to draw curves vs grade.  Its difficult to follow which curve is which, but the most recent yellow curve sticks out clearly.  The D1 kink also sticks out clearly.

Investors - LC / Re: LC loan quality shift April 2019
« on: July 01, 2019, 05:54:15 PM »
As of late June, my software is suddenly able to buy >10 notes/day most days. 

They won't admit it, but they make sudden policy shifts. 

I've told them there's a guy sitting inside LC who turns some big knobs from time to time, and sometimes just turns off the flow toward me (ie toward the API).  They won't admit it, but my guess is that this happens when they're building up an inventory for a securitization or some such thing.  I've gotta work on getting them to share more info about that process.

The attackers are obviously automated.  The spam messages (from each account) came at precise repeating intervals.

Thank goodness they had the courtesy to mostly post on the off-topic board. 

In any case, I think once they get some success you can only expect more.

Many companies have addresses that are not actually their office address on their website or the address that they are registered at. Including banks, hedge funds, etc.

Your excuse does not impress me.  I need evidence that a company is real before I send them my money.  When they fake their address by giving me the address of a warehouse, that does not give me confidence that the company is real. 

Many bloggers have actually visited both their offices and the businesses the loans financed.

Yea?  That impresses you? 

For all I know those bloggers aren't real either.   And.. If the address is fake, how did the bloggers find the office?

The platform is actually profitable and these loans are "bridge" loans until long term financing is secured.

According to what?  Stuff the company told you?

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