Poll

What are you doing with the LC notes now?

Selling all notes
2 (3.6%)
Selling less than 1/2 of the notes strategically
5 (9.1%)
No buy or sell
22 (40%)
Cherry picking notes in Folio with idle cash
11 (20%)
Adding cash to buy more discounted premium notes in Folio
4 (7.3%)
Business as usual (added 2 days later)
11 (20%)

Total Members Voted: 54

Voting closed: May 23, 2016, 11:16:04 PM

Author Topic: What are you doing with the LC notes now?  (Read 9997 times)

sommers

  • Jr. Member
  • **
  • Posts: 77
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #15 on: May 15, 2016, 08:42:14 AM »
I am concerned there is no more "action" on these Lending Academy forums.  How many individual note investors are there?  I would have thought there would be multiple posters and threads by now. 
Is there a better venue to openly discuss and comment on this situation from an investor (note holder--not stock holder) perspective? 

Rob L

  • Hero Member
  • *****
  • Posts: 2133
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #16 on: May 15, 2016, 09:14:46 AM »
I am concerned there is no more "action" on these Lending Academy forums.

Yeah, I agree. How hard is it to vote anonymously? Why not?
BTW. I voted, just didn't bother to comment on my vote. It was "doing nothing" but that's a day by day decision.

andy3109

  • Newbie
  • *
  • Posts: 27
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #17 on: May 15, 2016, 11:32:51 AM »
I am concerned there is no more "action" on these Lending Academy forums.  How many individual note investors are there?  I would have thought there would be multiple posters and threads by now. 
Is there a better venue to openly discuss and comment on this situation from an investor (note holder--not stock holder) perspective?

I completely agree. The community is usually pretty quiet anyways, but I expected people to come out of the woodwork to discuss this.

Booleans

  • Jr. Member
  • **
  • Posts: 74
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #18 on: May 15, 2016, 12:38:54 PM »
I am concerned there is no more "action" on these Lending Academy forums.

Yeah, I agree. How hard is it to vote anonymously? Why not?
BTW. I voted, just didn't bother to comment on my vote. It was "doing nothing" but that's a day by day decision.

I didn't vote because my answer wasn't included on the poll. I am continuing to buy LC notes as usual but not on folio.

Ribald

  • Newbie
  • *
  • Posts: 13
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #19 on: May 15, 2016, 01:13:59 PM »
I am concerned there is no more "action" on these Lending Academy forums.

Yeah, I agree. How hard is it to vote anonymously? Why not?
BTW. I voted, just didn't bother to comment on my vote. It was "doing nothing" but that's a day by day decision.

I didn't vote because my answer wasn't included on the poll. I am continuing to buy LC notes as usual but not on folio.

Buying on folio would be the better move at least until the dust settles.  Lots of newly issued notes are trading at a discount.

jz451

  • Full Member
  • ***
  • Posts: 118
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #20 on: May 15, 2016, 02:04:00 PM »
I'm continuing as usual with my all Folio portfolio. My portfolio isn't big enough to take advantage of this selling influx.

rawraw

  • Hero Member
  • *****
  • Posts: 2795
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #21 on: May 15, 2016, 04:47:00 PM »
I'm buying only absolute bargains on Folio.  Not investing otherwise and have my entire account up for sale for a markup which will likely result in few sales.  That markup will decline gradually until I get a little more sales.  I've limited the amount I can go to cash to 30% of my portfolio.  But of course, some of that cash may get invested in the Folio purchases.  I'm still deciding what to do, as if this forum is any indicate I think 2Q volumes will look bad.  I am trying to get a better sense of what 3Q would look like given various outcomes in 2Q

Fred93

  • Hero Member
  • *****
  • Posts: 2245
    • View Profile
Re: What are you doing with the LC notes now?
« Reply #22 on: May 15, 2016, 05:01:44 PM »
I am concerned there is no more "action" on these Lending Academy forums.  How many individual note investors are there?  I would have thought there would be multiple posters and threads by now. 

What?  There are a zillion messages discussing the scandal and its implications (including fantasies about future events).

Your poll is missing one important option:  I am continuing as I always have.   

RaymondG

  • Full Member
  • ***
  • Posts: 247
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #23 on: May 15, 2016, 09:11:20 PM »
Your poll is missing one important option:  I am continuing as I always have.
Added one more option. Sorry that I missed it. I considered "cherry picking..." was what I always did if I was not selling portion of the notes.

RaymondG

  • Full Member
  • ***
  • Posts: 247
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #24 on: May 15, 2016, 09:33:06 PM »
Just checked the Folio.  It seems that there are less notes on sale and with less discount on folio now, according to the filter I used to check the status. It was decreased to 2000 notes from 4000 a day ago, and the discount % was changed from over -4% to about -1.5%.

The filter being used is
https://www.lendingclub.com/foliofn/tradingInventory.action?mode=search&search_from_rate=0.16&search_to_rate=0.19&remp_min=20&remp_max=51&askp_min=9&askp_max=51&search_loan_term=term_60&credit_score_min=660&credit_score_max=770&ytm_min=15&ytm_max=25.99&opr_min=10&opr_max=50&credit_score_trend=UP&credit_score_trend=FLAT&markup_dis_min=-33&markup_dis_max=0.3&loan_status=loan_status_current&never_late=true&ona_min=25&ona_max=100
« Last Edit: May 15, 2016, 09:34:48 PM by RaymondG »

jheizer

  • Sr. Member
  • ****
  • Posts: 483
    • View Profile
    • LC Tools
Re: What are you doing with the LC notes now?
« Reply #25 on: May 16, 2016, 01:46:46 PM »
Blah 2/3 of my cherry picks cancelled to do pending payment.  Stupid folio.
Replacement to P2P Quant's Percentile Tool http://lc.geekminute.com

AnilG

  • Hero Member
  • *****
  • Posts: 1123
    • View Profile
    • PeerCube
Re: What are you doing with the LC notes now?
« Reply #26 on: May 16, 2016, 03:10:27 PM »
Updating the loan count on FOLIO from another post. There seems to be uptick in loans available on Folio. Also, markups on notes seem to be declining. From https://www.peercube.com/folionotes/index

Code: [Select]
2016-05-16 - 59,775
2016-05-15 - 74,027
2016-05-14 - 72,300
2016-05-13 - 63,252
2016-05-12 - 57,877
2016-05-11 - 57,106
2016-05-10 - 56,078
2016-05-09 - 58,569
2016-05-08 - 64,917
2016-05-07 - 60,112
2016-05-06 - 53,056
2016-05-05 - 52,314
2016-05-04 - 53,992
2016-05-03 - 48,560
2016-05-02 - 47,196
2016-05-01 - 60,637
2016-04-30 - 59,909
2016-04-29 - 54,511
2016-04-28 - 55,225

Just checked the Folio.  It seems that there are less notes on sale and with less discount on folio now, according to the filter I used to check the status. It was decreased to 2000 notes from 4000 a day ago, and the discount % was changed from over -4% to about -1.5%.
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

RaymondG

  • Full Member
  • ***
  • Posts: 247
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #27 on: May 16, 2016, 03:41:31 PM »
Blah 2/3 of my cherry picks cancelled to do pending payment.  Stupid folio.
About 1/10 of my sell-pending notes were canceled. Have to list some again. None was completed.

Updated on 5/17: All sales were completed except 15% were cancelled due to pending payments.
« Last Edit: May 17, 2016, 12:53:01 AM by RaymondG »

jheizer

  • Sr. Member
  • ****
  • Posts: 483
    • View Profile
    • LC Tools
Re: What are you doing with the LC notes now?
« Reply #28 on: May 16, 2016, 04:06:10 PM »
I just wish they'd have them hit the auto cancel mark when there is no hope of the transaction completing instead of leaving it up there.
Replacement to P2P Quant's Percentile Tool http://lc.geekminute.com

putch

  • Newbie
  • *
  • Posts: 10
    • View Profile
    • Email
Re: What are you doing with the LC notes now?
« Reply #29 on: May 17, 2016, 12:24:55 PM »
Is anyone here selling at a significant loss on secondary market? If so at what discount per and with any volume?