Author Topic: Auto Investing/ NSRP/ and beating the Institutions  (Read 12203 times)

dagilbe

  • Newbie
  • *
  • Posts: 26
    • View Profile
    • Email
Auto Investing/ NSRP/ and beating the Institutions
« on: July 17, 2013, 07:56:35 AM »
I am not finding the quality of notes that I used to.  It sounds like I am not the only person to experience this problem. 

From your experience, how helpful is auto investing through Prosper?

I'm considering using NSRP but I'm hesitant to shell out $25/ month.  Is this service worth it?  How is it different than auto invest through Prosper?  Are there any other API investing platforms that people recommend?




Peter

  • Administrator
  • Hero Member
  • *****
  • Posts: 759
    • View Profile
    • Lend Academy
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #1 on: July 17, 2013, 06:55:03 PM »
The difference between auto investing through the API at Prosper and using Automated Quick Invest is similar to the difference between a Ferrari and a Geo Metro. If you want to get somewhere fast you need to take the Ferrari.

As I have said here before I have a vested interest in NSR Premium, because I have helped Michael (the developer) test it and intend to be a part owner of this site once it is released publicly. The reason is because I like it so much. My API investments at Prosper through NSRP are executed within two minutes of the loans being added to the platform and I am finding plenty of loans to invest in. Automated Quick Invest takes 20-40 minutes to run and by then most of the popular loans are gone.

I don't know of any other API solutions out there for Prosper right now. Although I have heard of a couple of different ones in development.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

priuspilot

  • Jr. Member
  • **
  • Posts: 77
    • View Profile
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #2 on: July 17, 2013, 09:39:10 PM »
It would be nice if there were a short trial period, say a week or two, where one could actually see the benefits. Or at least some hard data that could demonstrate that it is worth $25/mo

Zach

  • Administrator
  • Hero Member
  • *****
  • Posts: 622
    • View Profile
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #3 on: July 17, 2013, 10:27:02 PM »
It would be nice if there were a short trial period, say a week or two, where one could actually see the benefits. Or at least some hard data that could demonstrate that it is worth $25/mo

As Michael has also stressed, he is providing one-on-one phone support during limited hours to users of the service. That is likely worth $25 all on its own.

priuspilot

  • Jr. Member
  • **
  • Posts: 77
    • View Profile
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #4 on: July 17, 2013, 10:32:44 PM »
It would be nice if there were a short trial period, say a week or two, where one could actually see the benefits. Or at least some hard data that could demonstrate that it is worth $25/mo

As Michael has also stressed, he is providing one-on-one phone support during limited hours to users of the service. That is likely worth $25 all on its own.

Because paying $25 to be on the phone with customer service is anyone's idea of a good time? :)

I understand what you're saying, that there's a level of concierge service made available for $25/mo, and that's fine and dandy. However what I and others are really interested in is, how well will this work for me? And there's no way of telling that right now without taking a leap of faith... I just think it would be a good idea to let people get a taste to see if it is indeed something that is worthwhile.

AnilG

  • Hero Member
  • *****
  • Posts: 1123
    • View Profile
    • PeerCube
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #5 on: July 17, 2013, 11:20:18 PM »
The difference between auto investing through the API at Prosper and using Automated Quick Invest is similar to the difference between a Ferrari and a Geo Metro. If you want to get somewhere fast you need to take the Ferrari.

My API investments at Prosper through NSRP are executed within two minutes of the loans being added to the platform and I am finding plenty of loans to invest in. Automated Quick Invest takes 20-40 minutes to run and by then most of the popular loans are gone.

It is not a matter of Ferrari vs Geo Metro. Running auto-invest for a few dozen users versus for thousand's of users is very different. You might be getting loans in 2 minutes now but will you when auto-invest is running for thousands of other users too. It is incredibly expensive and complex to keep execution time quick enough while users grow by thousands. A company with multimillion dollar investment like Prosper has better chance to keep Ferrari as Ferrari instead of turning it into Geo Metro with user growth.
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

Zach

  • Administrator
  • Hero Member
  • *****
  • Posts: 622
    • View Profile
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #6 on: July 18, 2013, 12:43:32 AM »
It would be nice if there were a short trial period, say a week or two, where one could actually see the benefits. Or at least some hard data that could demonstrate that it is worth $25/mo

As Michael has also stressed, he is providing one-on-one phone support during limited hours to users of the service. That is likely worth $25 all on its own.

Because paying $25 to be on the phone with customer service is anyone's idea of a good time? :)

I understand what you're saying, that there's a level of concierge service made available for $25/mo, and that's fine and dandy. However what I and others are really interested in is, how well will this work for me? And there's no way of telling that right now without taking a leap of faith... I just think it would be a good idea to let people get a taste to see if it is indeed something that is worthwhile.

I definitely understand your perspective - I feel the same way  :D

 However, from a value perspective, he is really providing more than $25 worth of value.

From my few e-mail exchanges with him, I understand that he doesn't really want the service to be huge initially from a liability/legal perspective (investors potentially suing him for a variety of reasons).

EDIT: He does plan to have tiered pricing based on the account size/value of investments made through the service in the future.

Peter

  • Administrator
  • Hero Member
  • *****
  • Posts: 759
    • View Profile
    • Lend Academy
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #7 on: July 20, 2013, 09:25:56 AM »
The difference between auto investing through the API at Prosper and using Automated Quick Invest is similar to the difference between a Ferrari and a Geo Metro. If you want to get somewhere fast you need to take the Ferrari.

My API investments at Prosper through NSRP are executed within two minutes of the loans being added to the platform and I am finding plenty of loans to invest in. Automated Quick Invest takes 20-40 minutes to run and by then most of the popular loans are gone.

It is not a matter of Ferrari vs Geo Metro. Running auto-invest for a few dozen users versus for thousand's of users is very different. You might be getting loans in 2 minutes now but will you when auto-invest is running for thousands of other users too. It is incredibly expensive and complex to keep execution time quick enough while users grow by thousands. A company with multimillion dollar investment like Prosper has better chance to keep Ferrari as Ferrari instead of turning it into Geo Metro with user growth.

My comparison was about investing through the API at Prosper in general, not just through NSR Premium. Anyone with some time and  technical expertise can set themselves up to invest that way and not necessarily use NSR Premium. My main point is that right now investing through the API at Prosper is by far the fastest way to invest in the loans you want.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

sisraelwi

  • Newbie
  • *
  • Posts: 7
    • View Profile
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #8 on: July 21, 2013, 06:25:21 PM »
I am interested in NSRP with Lending Club.  I signed up prior to the LendIt Conference, but have yet to receive any instructions from Michael about how to proceed.
1.  Is anyone using the NSRP platform for Lending Club?
2.  Without actual instructions, I am assuming that NSRP uses your login email and password to automate the trades.  What protections does NSRP offer to keep those secure?

clostrom

  • Newbie
  • *
  • Posts: 8
    • View Profile
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #9 on: August 15, 2013, 09:06:30 AM »
Has NSP stopped taking on new users for the trial period?  I tried signing up and it goes to a blank web page after I typed in my email and zip code. 

berniemadeoff

  • Guest
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #10 on: August 15, 2013, 12:18:02 PM »
Prosper Quick Invest is completely useless imho.  18mo ago, I was getting a decent amount of loans.  Starting late last year things dried up due to API investors snapping everything decent up before AQI gets into the action.  It's unfortunate that Prosper and LC are de-prioritizing the Geo Metro or "bicycle" retail investors, but this was bound to happen I guess.

Soon the Ferrari will be displaced with a fleet of F-35 Lighting II jets and we will be left with nothing but to breathe in jet fuel fumes...

Randawl

  • Sr. Member
  • ****
  • Posts: 469
    • View Profile
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #11 on: August 15, 2013, 12:29:53 PM »
Prosper Quick Invest is completely useless imho.  18mo ago, I was getting a decent amount of loans.  Starting late last year things dried up due to API investors snapping everything decent up before AQI gets into the action.  It's unfortunate that Prosper and LC are de-prioritizing the Geo Metro or "bicycle" retail investors, but this was bound to happen I guess.

Soon the Ferrari will be displaced with a fleet of F-35 Lighting II jets and we will be left with nothing but to breathe in jet fuel fumes...

What an excellent analogy. . . !

investforfreedom

  • Full Member
  • ***
  • Posts: 156
    • View Profile
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #12 on: August 17, 2013, 09:26:22 AM »
My API investments at Prosper through NSRP are executed within two minutes of the loans being added to the platform and I am finding plenty of loans to invest in.

Unfortunately, the really good loans are often gone in 30 seconds or less.  Flushed with cash, institutions would grab any loan that meets some of their chosen criteria, even though for some of these loans they themselves would not put money into should they use human eyeballs.  They just cast a wide fish net-- the good ones they catch; the dead fish they will catch too--as long as they can squeeze some yields in this environment.  But for those of us who want to be more deliberate and selective, we are done for.

There is just no way you can out-compete institutions with big money, which will always come up with the fastest APIs.   With a few retail investors using NSRP, that might still be okay.  But when you've got a thousand small investors using NSRP fighting for the crumbs left over by institutions, it is practically useless for 90% of small investors who want the really good loans.   

The real solution is to ask Prosper and LC to put a time lockout on large investments, say, for the first 15, 20, 30 minutes, you name it.  But of course, what do they care?

The best times for small investors are past.  We have become second-class citizens.



« Last Edit: August 17, 2013, 10:01:31 AM by investforfreedom »

Lovinglifestyle

  • Hero Member
  • *****
  • Posts: 902
    • View Profile
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #13 on: August 17, 2013, 10:57:24 AM »
I have compensated by moving up in grade (CDEFG instead of EFG).  It is very helpful to me to have 4 notes stay in my shopping cart long enough for me to look them over.  I'm grateful for that. 

Wish I didn't have to have more grade filters on the filter lists--haven't figured out what I want to do about that, if anything, yet. 

PeerCube is slower than IR and has a 100 loan ID max, which can make things tricky with a general filter for too many grades.    I use both sites; getting to the details page on PeerCube for the 100% and Total Current Debt Balance information that I like takes a fair amount of waiting for loading.  I really need that shopping cart time!!

PS--sorry, forgot this is the Prosper thread.  Probably needs to go to the LC one.  I'd move it if I could.  Everything here applies to my current LC experience as well.
« Last Edit: August 17, 2013, 11:04:27 AM by Lovinglifestyle »

EngineersAlliance

  • Newbie
  • *
  • Posts: 1
    • View Profile
    • Email
Re: Auto Investing/ NSRP/ and beating the Institutions
« Reply #14 on: August 24, 2013, 05:08:31 PM »
Any SW developers out there have an interest in finishing off a Prosper bidding API that I had started?  It was prior to all the Prosper API updates, and I havenít had time to spend with it since.  I do want to see it get completed though.

Screenshot of it below.

The intent would be for it to run locally on your machine, and do bidding periodically throughout the day.

Let me know if youíre a developer and have interest.  I can provide the source code.


[attachment deleted by admin]