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91
Investors - LC / Re: Worst Month Yet
« Last post by lctz on December 09, 2019, 09:34:02 PM »
Savor the feeling of being done, but at the same time, mourn the loss. I always felt like there was a lot of lost potential that LC left on the table when they decided to make whatever changes were made. I've since moved on to Fundrise, and have never looked back. That was 2+ years ago.

The decision to leave was the right one for me and I regained so much time by doing so. They even recover their own losses. They had one go bad about a month ago and just announced that they were able to fully recover it on their own so the investors were made completely whole. When did we ever see that with LC?
what is the differences between fundrise and other REITs?  From their website I see equity investment into real estate and CMBS, CDO etc from their document.  It is totally different instrument from consumer debt and completely different risk.  I am not sure if the return is enough to compensate for the risk should it hit a trough.  There are plenty of publicly traded REITs have an annual dividend of more than 9%.
92
Investors - LC / Re: Worst Month Yet
« Last post by lctz on December 09, 2019, 09:16:52 PM »
If a note has > $0.01 outstanding principal I can list it for $0.01 and it will be bought.
If a note has $0.01 outstanding principal I can list it but it will not be bought.
If a note has $0.00 outstanding principal I cannot even list it!
Why are there rules that prevent me from giving notes away for an asking price of $0.00 if I so choose?

If you list for $0, folio cannot collect fee from you (1% * 0 = 0).
93
Investors - LC / Participation Cap in Fractional Market
« Last post by MarinBB on December 09, 2019, 08:09:14 PM »
Did LC do away with the participation cap in the fractional market? I thought that one couldn't buy more than ~10% of a listing, but this one was filled in its entirety by one person when it became available: https://www.lendingclub.com/browse/loanDetail.action?loan_id=163026028.
94
Investors - LC / Re: Worst Month Yet
« Last post by Rob L on December 08, 2019, 10:23:59 AM »
Savor the feeling of being done, but at the same time, mourn the loss. I always felt like there was a lot of lost potential that LC left on the table when they decided to make whatever changes were made. I've since moved on to Fundrise, and have never looked back. That was 2+ years ago.

The decision to leave was the right one for me and I regained so much time by doing so. They even recover their own losses. They had one go bad about a month ago and just announced that they were able to fully recover it on their own so the investors were made completely whole. When did we ever see that with LC?

Yes, it is a bittersweet feeling. For me it was a great hobby and a quite profitable one until it wasn't.
I do miss the good old days; it was a lot of fun. Guess all good things come to an end as they say.
The shrinking individual investor share of the pie as provided in LC quarterly reports tells the tale.
Best of luck with Fundrise! Sounds like you have a winner.
95
Investors - LC / Re: Worst Month Yet
« Last post by dr.everett on December 07, 2019, 09:55:47 PM »
Savor the feeling of being done, but at the same time, mourn the loss. I always felt like there was a lot of lost potential that LC left on the table when they decided to make whatever changes were made. I've since moved on to Fundrise, and have never looked back. That was 2+ years ago.

The decision to leave was the right one for me and I regained so much time by doing so. They even recover their own losses. They had one go bad about a month ago and just announced that they were able to fully recover it on their own so the investors were made completely whole. When did we ever see that with LC?
96
Investors - LC / Re: Review of my lending club account
« Last post by JDII on December 07, 2019, 01:26:21 PM »
Had some issues with my email and had to create a new account.  The previous thread is located:  https://forum.lendacademy.com/index.php/topic,4828.0.html

A lot of you guys on here were very kind answering my questions prior to me signing up with Lending Club.  I'll try to give an update monthly or so.

I started buying loans on 09-14-17 and I've been adding several to my account weekly. 

Update as of 12.07.19

My Notes at-a-Glance      634

Not Yet Issued                    3
Issued & Current                 478
In Grace Period                   4
Fully Paid                           117
Late 16-30                         10
Late 31-120 Days                9
Default
Charged Off                         22


Adjusted Net Annualized Return      6.04%
Net Annualized Return                   11.79%
Weighted Average Age of Portfolio  13.4 months

My notes by grade are:

A  13.50%
B  65.60%
C  14.70%
D  4.90%
E   1.40%


I've been using LC picks (see other threads in the forum about them if you are unfamiliar) in order to pick which loans to invest in. My LC picks ranking is 68.1/82.

Thanks again for all who helped out in the past.
97
Investors - LC / Re: Worst Month Yet
« Last post by Rob L on December 07, 2019, 09:41:30 AM »
Finally all done!


98
Investors - LC / Re: Accelerated Liquidity for Lending Club: How Liquid P2P Works
« Last post by Filmore on December 03, 2019, 10:09:36 AM »
Agree, it is such an illiquid market.  I've monitored the traded note for a day, only a few hundreds traded a day.  Most of the note are way overpriced and there is no option to bid instead of just take the ask price.

I have an automated bot on the secondary market and it sees about 150k ~ 200k "decision points" per day. Decision points are either new notes, or an existing note with a better price. Most get rejected for being too far from maturity for my tastes. The bot doesn't even get to the "is it worth it" evaluation.
99
Investing - General (not P2P) / Re: Steel Parners Holdings
« Last post by rawraw on December 02, 2019, 04:53:32 PM »
Based on your description, sounds like a hard one to invest in.  Sounds like a Japanese company
100
Investing - General (not P2P) / Steel Parners Holdings
« Last post by Fred93 on December 02, 2019, 03:38:00 PM »
SPLP

An unusual company.  A small conglomerate of various industrial materials mfg companies and Web Bank.

Web Bank is the bank that issues loans for the various small lending companies like Prosper and LendingClub.  You need the bank in the middle for some obscure old regulatory reason.  I always figured that was a good business, 'cause they're about the only folks doin' this.

Someone else here followed SPLP  I seem to recall.

One funny thing about the business is that about half the stock is owned by insiders, and they don't seem to run the thing to make a profit.  Earnings are a "sometimes" thing, bouncing around in a seemingly random fashion.  I believe that this is just a nontraditional motivation at the top.  They aren't driven by the usual wall street approach of drive earnings to make shareholders happy.

Meanwhile, they continue to ramp sales, and buy back shares every year.

So this looks like a possible good thing, but the darn stock price keeps goin' down.  I wonder if there's stuff I don't understand.

I've tried reading the 10k, but it is complex, due to the mix of businesses, and constant background of acquisition things going on, and while I'm pretty good at reading a straightforward 10K, I'm no accountant, so I don't believe I really understand all I see there.

Anyone have thoughts on SPLP?


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