Author Topic: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube  (Read 3367 times)

kurtnyc

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Hello all,

I'm trying to figure out if any of the robo platforms will 'slow decline' pricing of notes on folio?

I can't use LendingRobot as you need $20k to be eligible.

I've been selling manually on Folio, which I have used for individual notes quite a bit, but selling 600 notes on it is extremely painful. As many have noted the selling tool is crap. It constantly throws off errors. I sent in a support request but reading a bit more hear I now realize that was like a message in a bottle at sea.

I'm now looking at NSR & PeerCube.
PeerCube is $20 a month, so it's a last resort unless someone can confirm it will auto reprice notes downward over time?
I have read this post: https://www.peercube.com/blog/post/how-to-automate-note-selling-on-lending-club-secondary-market-with-peercube  but it makes no mention of auto repricing .

NSRinvest looks like it can't autoprice, I've set up a selling filter but don't see any reprice options.

I've been reading past post on automated selling on folio, I just can't find if anyone has a repricing engine.
How do people get this done?

many thanks!
kurt


AnilG

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #1 on: July 31, 2017, 03:53:09 PM »
We have a repricing engine. We don't 'slow decline' the price of notes being sold on Folio. Our pricing strategies are based on the prevailing pricing on Folio and based on premise that a reasonable buyer will buy the lowest markup/highest discounted note from all available notes from same/similar loans. With PeerCube, you can use multiple pricing strategies at same time and system will automatically reprice and put sell orders once previous sell order expires.

If you are motivated seller, you may want consider pricing notes with Strategy 1 (Lowest Listed Price for Same Loan) and Strategy 2 (Strategy 2: Average Listed Price for Similar Loans). The system reprices the notes automatically based on prevailing pricing on Folio once previous sell order expires, typically 3 days. Also, it is a good idea to put thresholds on Markup/Discount Range field to avoid notes being listed with too low/high markup.

Following blog posts provide detailed information about automated selling:

Six Steps to Automated Selling on Lending Club Folio Secondary Market https://www.peercube.com/blog/post/six-steps-to-automated-selling-on-lending-club-folio-secondary-market
Enhancements to Automated Note Selling on Lending Club Folio Secondary Market https://www.peercube.com/blog/post/enhancements-to-automated-note-selling-on-lending-club-folio-secondary-market
How to automate Note Selling on Lending Club Secondary Market with PeerCube? https://www.peercube.com/blog/post/how-to-automate-note-selling-on-lending-club-secondary-market-with-peercube

Hello all,

I'm trying to figure out if any of the robo platforms will 'slow decline' pricing of notes on folio?

I can't use LendingRobot as you need $20k to be eligible.

I've been selling manually on Folio, which I have used for individual notes quite a bit, but selling 600 notes on it is extremely painful. As many have noted the selling tool is crap. It constantly throws off errors. I sent in a support request but reading a bit more hear I now realize that was like a message in a bottle at sea.

I'm now looking at NSR & PeerCube.
PeerCube is $20 a month, so it's a last resort unless someone can confirm it will auto reprice notes downward over time?
I have read this post: https://www.peercube.com/blog/post/how-to-automate-note-selling-on-lending-club-secondary-market-with-peercube  but it makes no mention of auto repricing .

NSRinvest looks like it can't autoprice, I've set up a selling filter but don't see any reprice options.

I've been reading past post on automated selling on folio, I just can't find if anyone has a repricing engine.
How do people get this done?

many thanks!
kurt
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

Rob L

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #2 on: July 31, 2017, 06:55:31 PM »
How do people get this done?
many thanks!
kurt

It's always a question of how quickly do you want out versus how much are you willing to spend to do it.
My experience has been sort of middle of the road.

In May of '16 after LC ran into major "trust" issues I decided to reduce my holdings by 50%. However, I was not in any great big hurry to do it since they had $700m+ cash or equivalents on the balance sheet. They may die, but it would be a slow death. As a semiretired EE and computer guy, LC had not only been an investment but a hobby for me. So, I spent a month writing maybe 10k code lines of my own automation software to sell off the notes I chose using Folio API. It worked great and I sold half my portfolio value in about 3 months.

If it was just about the money I'd been "almost just as well off" selling via PeerCube. If you count a month of labor (a fairly significant software coding effort) as an expense rather than a pleasant hobby my "almost just as well off" would be "better off". I kept track of the features available from PeerCube while I was doing my "hobby" thing and the difference wasn't enough to matter much.

Presently I'm just letting the rest of my portfolio run off and not actively selling on Folio. If I were to decide to liquidate I'd probably use PeecCube since my software was a bit complicated to run and it's been a while. I'd give PeerCube a try and I think it is a good value.

jpildis

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #3 on: August 01, 2017, 05:33:18 PM »
Post all of your notes at once with a 5% premium. Return in 24 hours and select 'Reprice' from the My Accounts tab on Folio. Drop the mark-up by 2.5%. Repeat every 24 hours. Untill there's no open orders (about 7 days). Repeat entire process but start your mark-up lower.

This way you won't leave much money on the table and it only takes a few clicks per day.

Rob L

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #4 on: August 01, 2017, 06:31:31 PM »
Post all of your notes at once with a 5% premium. Return in 24 hours and select 'Reprice' from the My Accounts tab on Folio. Drop the mark-up by 2.5%. Repeat every 24 hours. Until there's no open orders (about 7 days). Repeat entire process but start your mark-up lower.

This way you won't leave much money on the table and it only takes a few clicks per day.

This sounds like a good plan too and it matches "how quickly do you want out versus how much are you willing to spend to do it".
Personally, I'd drop the markup by -1.0% each day versus -2.5% but I think 24 hours is plenty of time to give buyers a chance.
When I started my selling (eons ago) I manually listed a few under priced notes just to see how quickly they would go. It was less than an hour back then.

I am reminded of stock "market orders" versus "limit orders" here. This is a "market order" strategy where the seller is depending on sufficient buyer competition to receive market price. That's probably not unreasonable for Folio. On the other hand my efforts were directed towards a "limit order" model which suited my personal objectives. Maybe I've been tainted by the equities market where I never ever ever enter a market order.


Lovinglifestyle

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #5 on: August 01, 2017, 08:05:46 PM »
When I want to sell I use the LC site and don't bother trying to sell late notes any more.  That's because I don't need any losses.

So I pick a category (lowest interest is fastest for me), sort by that, and offer nearly everything that's current. at -.25% to start.

Then I drop it about 4x/day.  -2.5 gets most sold. 

If I have to drop to a net loss amount I just don't. Canceled by User takes care of those.  Often they will sell in a later batch if they're still current.

When I pick the ones to list, I choose <$23 payments received if the balance is still a fair amount, and watch the payment due date to keep it about 3 days out so I don't get a Canceled Payment Pending (especially after a weekend or holiday).

When the For Sale list is empty, in about 3 days, I start over with a new list of currents.

I have a fast paper and pencil notebook system that keeps me up to date with how many sold, when, and for what discount.

I love PeerCube, and have often used it, but to me this is more practical time-wise.  I list about 30-50 at a time, or up to a hundred.

Rob L

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #6 on: August 01, 2017, 08:34:57 PM »
When I want to sell I use the LC site and don't bother trying to sell late notes any more.  That's because I don't need any losses.

So I pick a category (lowest interest is fastest for me), sort by that, and offer nearly everything that's current. at -.25% to start.

Then I drop it about 4x/day.  -2.5 gets most sold. 

If I have to drop to a net loss amount I just don't. Canceled by User takes care of those.  Often they will sell in a later batch if they're still current.

When I pick the ones to list, I choose <$23 payments received if the balance is still a fair amount, and watch the payment due date to keep it about 3 days out so I don't get a Canceled Payment Pending (especially after a weekend or holiday).

When the For Sale list is empty, in about 3 days, I start over with a new list of currents.

I have a fast paper and pencil notebook system that keeps me up to date with how many sold, when, and for what discount.

I love PeerCube, and have often used it, but to me this is more practical time-wise.  I list about 30-50 at a time, or up to a hundred.

Just sayin, this is from someone who has "walked the walk" for a long long time.
Very savy lender and the no doubt the best advice yet given if goals are compatible with your own.

Lovinglifestyle

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Re: Best way to Auto Liquidate a Portfolio on Folio? NSR vs PeerCube
« Reply #7 on: August 01, 2017, 09:19:48 PM »
Thanks, Rob L.  I've been enjoying your posts and helpful attitude for a long time, regularly.
I should probably say so more often! 

I appreciate the effort that goes into the thoughtful contributions of you and many posters here, who know so much more than I.   :)