Author Topic: Dear LC  (Read 8637 times)

hcharris

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Re: Dear LC
« Reply #45 on: November 27, 2017, 09:46:53 AM »
Like storm, I have seen my interest received offset by losses. Since inception, I have lost 70% of the interest received to defaults. I was using auto invest but no longer; as I accumulate cash balance, I withdraw it. I understand I should expect some losses but this is a little much for me.

I think LC does not do enough to collect from those who default. Most of mine were not very far into their payments when they defaulted.

Tomp

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Re: Dear LC
« Reply #46 on: December 02, 2017, 08:23:00 AM »
For the 100th time. They need to FIRE the CIO. It's that simple. They need to fire the CEO. That's even simpler.

michael49

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Re: Dear LC
« Reply #47 on: December 02, 2017, 08:29:12 AM »
No doubt 2015 and 2016 are bad vintages.

I guess what I do not understand is how low of a return is LC willing to advertise before something changes.  I am referring to the banner they post all over the place.  Attached.

It used to say 8-10, then 7-9, then 6-8, then 5-7 and now 4-6.  How low will they go, before they realize people are not willing to invest in this asset class for that return.

I never expected huge returns from LC but I did not anticipate negative returns in the long run. 

I stopped re-investing about a year ago in my main account and at this point I’m in the red every month, withdrawing funds as they become available. Current ANAR: 3.58%.  I invested using mostly BlueVestments Bluepicks aggressive algorithm in my main account (BlueVestments still claims a 11.7% return!!! - I wonder how they can justify that on their website still).

I am still re-investing in my IRA account where I have only a small amount invested, using Bluepicks moderate algorithm (they still claim 7%) and I’m still in the red each month. Current ANAR: 0.57% :(.  We’ll see. 
« Last Edit: December 02, 2017, 08:36:34 AM by michael49 »

apc3161

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Re: Dear LC
« Reply #48 on: December 02, 2017, 12:24:46 PM »
No doubt 2015 and 2016 are bad vintages.

I guess what I do not understand is how low of a return is LC willing to advertise before something changes.  I am referring to the banner they post all over the place.  Attached.

It used to say 8-10, then 7-9, then 6-8, then 5-7 and now 4-6.  How low will they go, before they realize people are not willing to invest in this asset class for that return.

I never expected huge returns from LC but I did not anticipate negative returns in the long run. 

I stopped re-investing about a year ago in my main account and at this point Im in the red every month, withdrawing funds as they become available. Current ANAR: 3.58%.  I invested using mostly BlueVestments Bluepicks aggressive algorithm in my main account (BlueVestments still claims a 11.7% return!!! - I wonder how they can justify that on their website still).

I am still re-investing in my IRA account where I have only a small amount invested, using Bluepicks moderate algorithm (they still claim 7%) and Im still in the red each month. Current ANAR: 0.57% :(.  Well see.

Bluevestment has had the worst modelling of all the 3rd party applications in my opinion.

Tomp

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Re: Dear LC
« Reply #49 on: December 03, 2017, 08:36:26 PM »
No doubt 2015 and 2016 are bad vintages.

I guess what I do not understand is how low of a return is LC willing to advertise before something changes.  I am referring to the banner they post all over the place.  Attached.

It used to say 8-10, then 7-9, then 6-8, then 5-7 and now 4-6.  How low will they go, before they realize people are not willing to invest in this asset class for that return.

Indeed, it must be each time it goes down, the CIO (SID) gets a raise.  Also-I'd wager that giving away United Air miles to invest in securities registered with the SEC is not quite Kosher. Suck at credit, suck at marketing.

My question is... the banner says "solid" returns. Are they really that solid?

SeanMCA

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Re: Dear LC
« Reply #50 on: December 03, 2017, 10:02:27 PM »
They're back to advertising how it's virtually impossible to lose money again.

Of course the buried footnote says that doesn't include F or G notes. I guess since they just stopped offering those notes, they think it's ok to pretend previous losses to investors never happened. It's misleading at best but I think it's more securities fraud than anything else. Lending Club's management has been made up of just the worst kind of people.
I'm a merchant cash advance veteran exploring the p2p lending waters.

hcharris

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Re: Dear LC
« Reply #51 on: December 04, 2017, 06:56:32 AM »
I would like to think I could get my original investment back but that now seems out of reach. I'm at 1.1% returns. Ally is beginning to look really good. 

Tomp

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Re: Dear LC
« Reply #52 on: December 04, 2017, 05:53:34 PM »
They're back to advertising how it's virtually impossible to lose money again.

Of course the buried footnote says that doesn't include F or G notes. I guess since they just stopped offering those notes, they think it's ok to pretend previous losses to investors never happened. It's misleading at best but I think it's more securities fraud than anything else. Lending Club's management has been made up of just the worst kind of people.

Yes-it is likely a violation of SEC return advertising. Agreed-but its been an amazing short.  They need to accept any buyout offer now.

Tomp

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Re: Dear LC
« Reply #53 on: December 07, 2017, 09:39:22 AM »
Down 18% today. That's some rocking C-Suite you got there.

DLIFVOIP

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Re: Dear LC
« Reply #54 on: December 07, 2017, 04:58:01 PM »
Re: Today's happenings.

So wait a second, you are telling me that your revenues/forecasts are decreasing at the same time a majority of your investors are have seen their returns decrease.  Man, I wonder if the two are related.  Who knows, anytime you are ready to get back to where you were just let me know Mr. Sanborn.