Author Topic: P2P Picks through BlueVestment  (Read 11369 times)

thezfunk

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P2P Picks through BlueVestment
« on: June 30, 2014, 12:20:22 PM »
I see the last purchase on my P2P filter was the 18th.  Are we dead in the water then?  Forever?  Is there a resolution expected?

rawraw

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Re: P2P Picks through BlueVestment
« Reply #1 on: June 30, 2014, 01:27:19 PM »
I see the last purchase on my P2P filter was the 18th.  Are we dead in the water then?  Forever?  Is there a resolution expected?
It'll go back whenever Bryce re-enables the P2P Picks for Lending Club.

brycemason

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Re: P2P Picks through BlueVestment
« Reply #2 on: June 30, 2014, 05:42:16 PM »
As soon as LendingClub synchs its automated methods of "seeing" the loan data with the web releases, we will turn those publications back on. Trust me, I miss it, too. I have ~5% of my portfolio in cash now and need to get it working again. Please contact LC and make this request.

thezfunk

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Re: P2P Picks through BlueVestment
« Reply #3 on: June 30, 2014, 09:48:33 PM »
As soon as LendingClub synchs its automated methods of "seeing" the loan data with the web releases, we will turn those publications back on. Trust me, I miss it, too. I have ~5% of my portfolio in cash now and need to get it working again. Please contact LC and make this request.

If I call in and complain about 'automated methods of "seeing" the loan data with the web releases' will they know what I am talking about?  Is there a more technical or less technical way to describe the problem?

brycemason

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Re: P2P Picks through BlueVestment
« Reply #4 on: July 01, 2014, 08:59:35 AM »
It is a less technical way of describing the issue. They are well aware of the issue. Don't badger them but one call would be good.

edward

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Re: P2P Picks through BlueVestment
« Reply #5 on: July 01, 2014, 12:49:37 PM »
I sent in my complaining email and only got to have a short conversation with the LC representative when he called back (I was at lunch). He is supposed to call me back later at a better time. But he basically blamed Bryce for not being willing to change his approach to getting the data. I'll update this post when we have our later conversation. But I'm not initially happy with LC's stance of simply blaming Bryce for LC's changes.

Update: Mike at LC listened very nicely to my concerns, and said (1) the API/CSV/website do update at different times, albeit it only about 30 seconds apart, (2) the change to update the CSV file only every minute was to help ensure LC website customers that the third-party sites weren't getting all the good loans, and (3) lots of good changes are coming. I explained that it doesn't seem fair to me that all sources of note information don't update at the same time, that third-party sites do a much better analysis of loan datapoints than does LC, and that it was my viewpoint from the comments made on this forum from numerous members that it seems LC is at war with third-party sites particularly in that every time LC makes a file or field name changes, most of the third-party sites crash. I encouraged LC to embrace the third-party sites, provide them more advance notice of upcoming changes, and to increase communication with all members through more frequent blogs on LC's own site. Didn't seem to do anything to help get Bryce back up and running, but he sure was familiar with Bryce and LendAcademy and the issues involved. Kept trying to get me to use LC automatic investing and just pick a diversified grade of notes, and I told him I would consider it--when LC's own site offered as much help, advice, and risk-mitigating strategies as the third-party sites did.  Sorry Bryce, I tried.
« Last Edit: July 01, 2014, 04:34:42 PM by edward »

BruiserB

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P2P Picks through BlueVestment
« Reply #6 on: July 01, 2014, 01:42:55 PM »
Every third party service that I'm aware of has had problems since the changes, so clearly something isn't right. The simple fact is that the new loan info isn't released simultaneously through all channels. Lending Club wants third parties to use the API but several have pointed out multiple deficiencies to the way it operates. Lending Club should have a developer liaison group to work with these developers instead of ignoring or bad-mouthing them.


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brycemason

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Re: P2P Picks through BlueVestment
« Reply #7 on: July 01, 2014, 02:12:39 PM »
The person was probably not well informed. My service is effectively shut down because (1) the API/CSV are the only ways to get the loan characteristics I need to run models and (2) the API/CSV are seeing the loan data some 20-30 seconds after the web site. Thus, people with rudimentary filter approaches have first crack at things and by the time I see the data and run the models, many picks are gone (not necessarily by virtue of sophistication but by swarming).

edward

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Re: P2P Picks through BlueVestment
« Reply #8 on: July 01, 2014, 04:41:14 PM »
Bryce, I know you've already answered this negatively, but I'll add my voice to the request to run your site as best you can and get whatever loan data you can, so long as you can run your filters. I'd much rather get a better quality note, even if there are less of them and even if they pay less interest, so long as I can use your formula to better model risk. But in any event, thank you so much for all you've done for all of us. Darn shame I had just got comfortable with your site and the BlueVestment interface and added more money to my LC retirement account a week before this entire debacle occurred.

rawraw

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Re: P2P Picks through BlueVestment
« Reply #9 on: July 01, 2014, 04:46:53 PM »
I vote for an addition of a donate box for Bryce before his web interface disappears. 

thezfunk

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Re: P2P Picks through BlueVestment
« Reply #10 on: July 01, 2014, 04:53:53 PM »
I vote for an addition of a donate box for Bryce before his web interface disappears.

He could do a Kickstarter or something similar.  I would thrown in some money.  I totally respect that he is freely giving us a service that costs him time and money.  You know, like when my family hits me up for computer help.

BruiserB

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P2P Picks through BlueVestment
« Reply #11 on: July 01, 2014, 06:32:55 PM »
I don't get the feeling that financial considerations are behind Bryce shutting down his free P2P Picks.  I think he has done so on principle as the changes have also made it impossible for him to run his professional business for commercial clients (who do pay him).  We can help more by voicing our displeasure to Lending Club than by taking up a collection.....although I'd be more than happy to donate to both him and Nathan if there is any way they can accept contributions.

Also, I've wondered if the Loss Minimizer picks are less susceptible to the problems Bryce experiences??  I would guess the riskier notes are more susceptible to the random hoarding than the low risk loans.  It probably wouldn't be a bad idea for me to balance my portfolio with some lower risk picks if he could bring that part of the service back.  However if it is completely down on principle, I respect that.


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« Last Edit: July 01, 2014, 06:37:52 PM by BruiserB »

rawraw

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Re: P2P Picks through BlueVestment
« Reply #12 on: July 01, 2014, 07:06:59 PM »
If you've read Anil's research, it may impact LM as well.  We can't know how Bryce's P2P model would work, but Anil has noticed it appears some automated investors are stealing better quality low interest rate notes early on.  So it could be equally as bad for LM

BruiserB

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P2P Picks through BlueVestment
« Reply #13 on: July 01, 2014, 07:59:01 PM »

If you've read Anil's research, it may impact LM as well.  We can't know how Bryce's P2P model would work, but Anil has noticed it appears some automated investors are stealing better quality low interest rate notes early on.  So it could be equally as bad for LM

I figured the "some automated investors" were the P2P-Pickers of the world.....not necessarily the simple filters that one can use with Lending Club's Auto Invest feature. 

When I look at Lending Robot's Recent LC Notes list it shows very few loans that are funding quickly

https://lendingrobot.com/#/resources/latest/LC

But I suppose there could be some that funded before LendingRobot even got access to the data.  In any case the ones that seem to fund quickly seem to be mostly the higher rate loans.

I have been experimenting with LendingRobot's higher expected return notes, but there is no proven track record of their performance yet, so I'm hesitant to put too much faith in them yet.  I wouldn't mind balancing these picks with some Loss Mimimizer picks.  I suppose I could create a LendingRobot filter to pick A & B notes with the highest expected returns.....that should be comparable to Loss Minimizer (though it wouldn't necessarily pick the same or similar notes as both companies have their own approaches).


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Natalie-OBX

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Re: P2P Picks through BlueVestment
« Reply #14 on: July 07, 2014, 03:56:44 PM »
I'm confused.  I've been following this discussion, but I've still been getting loans everyday.  When you guys are saying it's "shut down", do you mean that it's really shut down, or that it's effectiveness has just been reduced?

--Natalie