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81
Investors - LC / Re: Folio ending August 28th.
« Last post by rawraw on August 09, 2020, 09:24:54 PM »
My account just recently got to the point where it rounds to zero.  LendingClub was a great ride,  but since I never used it in a tax advantaged account that spike in losses a few years back made it tax inefficient quicker than I expected.  Plus returns have come down a lot vs. the days where I could sell notes before they missed their payments :)  I miss my virtually risk free profits.  It was a fun ride!  The notes I bought during the LC scandal on the secondary market performed extremely well.  For those sticking around, this may be a similar situation - buy those severely distressed notes :)  If I didn't have prior commitments for my capital, I'd probably be funding up a small LC account for one last hurrah.

The portfolio I manage for my parents continues to do well.  But they've always been in the low grade notes.  I used to constantly warn some extreme people on this board about the risk they were taking with those high grade notes.  Several years later, most left because they complained about their returns and those charge offs  :-\  Who could have seen chasing yield ending badly?
82
Investors - LC / Re: Folio ending August 28th.
« Last post by JDII on August 09, 2020, 06:09:22 PM »
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You will probably do well, people such as myself are selling at a nice discount.  I'm just so over it, but good luck to you.

Assuming this was in response to my post. If not my apologies.

I've never gone into the secondary market. I'm buying new notes as quickly as I can.  I wish I could devote more resources to it. 

83
Investors - LC / Re: Folio ending August 28th.
« Last post by kib on August 09, 2020, 04:40:23 PM »
You will probably do well, people such as myself are selling at a nice discount.  I'm just so over it, but good luck to you.
84
Investors - LC / Re: Folio ending August 28th.
« Last post by JDII on August 09, 2020, 02:23:11 PM »
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Is anyone doing anything other than liquidating at this point?

I am adding to my account as fast as I can. 
85
Investors - LC / Re: My hardship loan experience
« Last post by JDII on August 09, 2020, 02:21:05 PM »
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FYI the secondary portal is closing with last trades 8/26 and last settlement 8/27... this was just announced today.

Thank you for the heads up.

I haven't traded on the secondary market so that par of the business won't effect me.

86
Investors - LC / Re: Folio ending August 28th.
« Last post by rj2 on August 09, 2020, 01:29:25 AM »
I've been liquidating as well, had sold everything with >12m left on it and was working on 9m to 11m. Lots of those are still "locked" and can't be sold so I guess I'm stuck dealing with LC for at least a year.

Is anyone doing anything other than liquidating at this point?
87
Investors - LC / Re: Folio ending August 28th.
« Last post by storm on August 09, 2020, 12:41:14 AM »
I've spent the better part of this year slowly and strategically liquidating my remaining notes in my IRA before the annual fee hits me later this year. I'm down to just a handful of notes with terrible payment histories. I consider myself lucky. I feel sorry for anyone who wants out now.
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Investors - LC / Re: Worst Month Yet
« Last post by Rob L on August 08, 2020, 07:36:27 PM »
Folio is dead.
I finished liquidating my Lending Club investment "under the wire" by 8 months using Folio sales.
I'm thankful that I got it done in time (and it was only a matter of time). Turns out it was a good time to invest in stocks.
I'm not young (70), I don't feel old, but every day is a blessing.
Didn't want to potentially leave my heirs (my trustee) with 3 years of "stuck with it" and never invested in 5 year notes for the same reason.
There no doubt are others that are similarly inclined and will offer notes for sale at significant discounts just to be out.
IMO, bargains will be offered to those with the time horizon to accept them.

89
Investing - General (not P2P) / Re: REITs vs Real Estate Crowdfunding
« Last post by titlewealth on August 08, 2020, 07:06:27 PM »
Are you precious metals allocation ETFs? That's one big gap in my portfolio. I wish there was a way to share an image on this portfolio, I could share my allocation image.
90
Investing - General (not P2P) / Re: REITs vs Real Estate Crowdfunding
« Last post by jrl on August 08, 2020, 03:40:32 PM »
I've been looking for a place to chat with investors that are investing outside of the stock market.

Yeah, it's extremely frustrating. Everyone seems to be a stock market casino cheerleader these days.

I'm currently looking for other alternatives since with Folio gone I'll need something else to invest my Roth IRA in.

Current allocation: 23% precious metals, 12.5% cash, 12.5% LC, 6% Crypto currencies, and the balance (46%) is in traditional managed retirement accounts.

The 8-14% return from Folio is going to be hard to beat.
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