Author Topic: Welcome to the Lend Academy Forum  (Read 15255 times)

Peter

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Welcome to the Lend Academy Forum
« on: December 05, 2012, 02:22:55 PM »
Starting a new welcome thread that reflects my new brand, Lend Academy.

This forum is a place where people can learn and share their knowledge of p2p lending. Whether you are a brand new investor or one who has been here from the beginning you are welcome on this forum. Please introduce yourself and let us know why you joined.

Thanks, Peter
Publisher of the Lend Academy blog

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

JimPHL

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Re: Welcome to the Lend Academy Forum
« Reply #1 on: December 20, 2012, 10:54:37 PM »
Hello Peter and Lend Academy forum mates,
Just signed up after reading many thoughtful and informative posts.
I am very interested in peer to peer lending and this forum and site are a wealth of knowledge.

Just a bit of background, but I hope not enough to put you all to sleep!
I have been investing in mutual funds for 25+ years, primarily the 401k/403b route.
However, that is an incredibly boring and very anonymous way to invest.
I feel zero connection to the underlying investments, corporate managements, nor bond holders.

That's why I'm so enamored with peer to peer lending.
I will likely take the plunge over the holidays, and share my experiences as I move forward.

Thanks to all for your thoughtful insights.
Jim

william

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Re: Welcome to the Lend Academy Forum
« Reply #2 on: December 20, 2012, 11:49:51 PM »
Jim just some advice before you get an account. Make sure you take advantage of the referral links/promotions that both LC and prosper have. I really regret not doing so.  :(

Peter

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Re: Welcome to the Lend Academy Forum
« Reply #3 on: December 21, 2012, 08:10:09 AM »
Welcome Jim, glad to have you on board. Everyone invests for there own reasons and the primary one that I see mentioned is the superior returns. But there are also many people who like the fact that p2p lending is not an impersonal investment. You can really help people while at the same time making a great return on your money.
Publisher of the Lend Academy blog

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

faeriering

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Re: Welcome to the Lend Academy Forum
« Reply #4 on: December 22, 2012, 09:52:01 AM »
I have to admit, what I love about LC & Prosper is that they bypass banks.

I'm frustrated with traditional big banks in the US:
  • There is too snuggly of a relationship between the investment and the retail side of the banks
  • That we (as taxpayers) had to massively bail out these institutions while they continued to blythyl continue on with risky busisness practices
  • That they are giving us low interest rates on savings while collecting huge amounts of interest on their creditcards
  • That they are refusing to loan money to qualified borrowers because they want to continue to make money off the credit cards instead

I love that LC and prosper have taken these bastards out of the equation, democratizing the lending system, and spreading wealth.  I avoid using the big banks for most purposes, and I am tickled pink that we have a way to by pass them in such a profitable way :)

Sorry about the rant there, but this is one of the main reasons I'm so excited about lendingclub.

JimPHL

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Re: Welcome to the Lend Academy Forum
« Reply #5 on: December 26, 2012, 02:12:43 PM »
Peter, et al
Thanks for your advice, great posts, and wealth of information.  Nickel Steamroller was particularly helpful.

Unforuntately, I live in a state whereby I can only invest in the secondary market, with Lending Club.  At face value, the secondary market flys in the face of what I'm trying to achieve with P2P lending; having a direct impact on the lending environment. 

As to the secondary market, there appears to be a very high level of competition for a relatively small population of notes that are priced attractively.  The secondary market is very interesting, but...a lot of people are fishing, in a very small pond, with the same bait.

I've even considered an alternative strategy, a very high risk approach, investing in notes that are in grace period or less than 30 days late, given there are good statistics on recovery, ~15% and ~25%, respectively, which can be baked into the price.  However, this strategy addresses an even a smaller population of notes, and the asking prices tend not to reflect the associated risks.

As a result of the above, I'm not prepared to jump into this market.  But, I am intrigued and will continue to watch the secondary market.

If it makes sense to start a discussion on the main forum into high risk strategies on the secondary market, let me know and I will start it.  I just don't want to waste anyone's time with esoteric strategies.

Thanks again to this group of engaged and focused investors, especially for taking the risks on the right thing to do and making a market.
Jim

AnilG

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Re: Welcome to the Lend Academy Forum
« Reply #6 on: December 26, 2012, 08:55:45 PM »
After Lending Club IPO's, you will be able to invest on main LC platform. In the mean time, have you considered collaborating with a friend/family member who lives in a state that allows purchasing notes on main platform? They can buy notes on main platform and then list notes on secondary market for you to pickup. Just an idea to get around state restrictions, of course at little extra cost and hassle.

Peter, et al
Thanks for your advice, great posts, and wealth of information.  Nickel Steamroller was particularly helpful.

Unforuntately, I live in a state whereby I can only invest in the secondary market, with Lending Club.  At face value, the secondary market flys in the face of what I'm trying to achieve with P2P lending; having a direct impact on the lending environment. 

As to the secondary market, there appears to be a very high level of competition for a relatively small population of notes that are priced attractively.  The secondary market is very interesting, but...a lot of people are fishing, in a very small pond, with the same bait.

I've even considered an alternative strategy, a very high risk approach, investing in notes that are in grace period or less than 30 days late, given there are good statistics on recovery, ~15% and ~25%, respectively, which can be baked into the price.  However, this strategy addresses an even a smaller population of notes, and the asking prices tend not to reflect the associated risks.

As a result of the above, I'm not prepared to jump into this market.  But, I am intrigued and will continue to watch the secondary market.

If it makes sense to start a discussion on the main forum into high risk strategies on the secondary market, let me know and I will start it.  I just don't want to waste anyone's time with esoteric strategies.

Thanks again to this group of engaged and focused investors, especially for taking the risks on the right thing to do and making a market.
Jim
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

JimPHL

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Re: Welcome to the Lend Academy Forum
« Reply #7 on: December 26, 2012, 10:20:04 PM »
Anil
Yes, I have considered that as an option.

I have a friend in a state that is nearby, in the primary market, and has a LC account. Once everyone is back from the holidays, I will bring him up to speed with what I've learned and gauge his interest, perhaps in an investment partnership of sorts.

It will be a great opportunity to pick his brain on strategies as well.

By the way, I think an IPO will bring many interesting changes. I cannot help but surmise that many of the strange things observed recently, as posted in these forums, is related to people and organizations 'kicking tires' in advance of the offering.

Thanks for your thoughtful and timely reply.
Jim

Simon

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Re: Welcome to the Lend Academy Forum
« Reply #8 on: January 28, 2013, 07:44:32 PM »
Well I suppose I should introduce myself. I've been a long time lurker on this forum but haven't really interacted with it much. I hope that changes in the coming year. Anyways, I a huge lover of p2p lending, have been an active lender for about 15 months, and recently launched a peer to peer lending site www.lendingmemo.com

I'm a big fan of Peter's work, and a proponent of this industry. I am eager to help Prosper and Lending Club in whatever way they make space, and am really excited about new players entering the arena.
Writes at the peer to peer lending site LendingMemo.

Keltset

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Re: Welcome to the Lend Academy Forum
« Reply #9 on: January 28, 2013, 08:46:57 PM »
Well I suppose I should introduce myself. I've been a long time lurker on this forum but haven't really interacted with it much. I hope that changes in the coming year. Anyways, I a huge lover of p2p lending, have been an active lender for about 15 months, and recently launched a peer to peer lending site www.lendingmemo.com

I'm a big fan of Peter's work, and a proponent of this industry. I am eager to help Prosper and Lending Club in whatever way they make space, and am really excited about new players entering the arena.

Welcome to the forums Simon! :)

Peter

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Re: Welcome to the Lend Academy Forum
« Reply #10 on: January 28, 2013, 10:31:45 PM »
Well I suppose I should introduce myself. I've been a long time lurker on this forum but haven't really interacted with it much. I hope that changes in the coming year. Anyways, I a huge lover of p2p lending, have been an active lender for about 15 months, and recently launched a peer to peer lending site www.lendingmemo.com

I'm a big fan of Peter's work, and a proponent of this industry. I am eager to help Prosper and Lending Club in whatever way they make space, and am really excited about new players entering the arena.

Great to have you here Simon. I look forward to following your blog as it develops. We need more people like you spreading the word.
Publisher of the Lend Academy blog

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

Cliff_S

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Re: Welcome to the Lend Academy Forum
« Reply #11 on: February 09, 2013, 10:03:39 PM »
Hello all, my name is Cliff.  I actually stumbled upon the whole notion of peer-to-peer lending last December.  I was starting to pull my tax information together and was appalled at how little interest my savings accounts were making (a whopping 0.25%).  In the search for better returns without the risk and volatility of stocks I came across an article on peer-to-peer lending.  Long story short, I opened an account with LC right after the first of the year and have spent the last month buying notes.

Another Google search about two weeks ago led me to this site.  Wish I would have found it before I ever started.  My approach has been evolving since day one and after reading the wealth of information on this site my approach today resembles nothing like I started with.  Anyways, Iím still on a pretty steep learning curve and have enjoyed all the insight folks share here.  I have also enjoyed taking a more active role in investing and look forward to steering my account toward a double digit ROI.

Cliff


Peter

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Re: Welcome to the Lend Academy Forum
« Reply #12 on: February 11, 2013, 01:45:08 PM »
Hello all, my name is Cliff.  I actually stumbled upon the whole notion of peer-to-peer lending last December.  I was starting to pull my tax information together and was appalled at how little interest my savings accounts were making (a whopping 0.25%).  In the search for better returns without the risk and volatility of stocks I came across an article on peer-to-peer lending.  Long story short, I opened an account with LC right after the first of the year and have spent the last month buying notes.

Another Google search about two weeks ago led me to this site.  Wish I would have found it before I ever started.  My approach has been evolving since day one and after reading the wealth of information on this site my approach today resembles nothing like I started with.  Anyways, Iím still on a pretty steep learning curve and have enjoyed all the insight folks share here.  I have also enjoyed taking a more active role in investing and look forward to steering my account toward a double digit ROI.

Cliff

Welcome Cliff, glad to have you on board. If you are only changing strategies after a month I think you are ahead of the game of most people here. I was investing for 18 months before I learned enough to really maximize my returns. You can also do what I did and sell all your low yielding notes on the trading platform. I was able to offload almost all my A-grade notes for close to break even.
Publisher of the Lend Academy blog

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

Cliff_S

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Re: Welcome to the Lend Academy Forum
« Reply #13 on: February 11, 2013, 08:26:40 PM »
Thanks for the suggestion.  I may have to do just that.  I envisioned a very conservative strategy initially and subsequently have almost half of my account in A-grade notes.

Cliff 

SkaXc0re77

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Re: Welcome to the Lend Academy Forum
« Reply #14 on: March 07, 2013, 06:38:51 PM »
Hi everyone.  My names Greg.  First let me thank you for the wealth of knowledge I've already obsorbed from the shadows.  I started like Cliff here, right after the new year becuase similarly, Capital One is giving me a wopping .05% on my savings!  Wooooo (opened up the new high yield checking acct with them for a market leading 1% which still.. stinks).

Hoping to learn a lot, and then share a lot back once the student has become the master :-P