Comments on: lending club, my best investment of 2008 http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/ wealth, work and life success Sat, 13 Mar 2010 06:02:31 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-29174 Steve @ bripblap Tue, 13 Oct 2009 11:30:14 +0000 http://www.bripblap.com/?p=1077#comment-29174 <!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><br><html><br><head><br> <meta content="text/html;charset=UTF-8" http-equiv="Content-Type"><br> <title></title><br></head><br><body bgcolor="#ffffff" text="#000000"><br><font face="Helvetica, Arial, sans-serif">DELETE</font><br></body><br></html> <!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.01 Transitional//EN”>
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]]> By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-29173 Steve @ bripblap Tue, 13 Oct 2009 09:30:14 +0000 http://www.bripblap.com/?p=1077#comment-29173 <!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"><br><html><br><head><br> <meta content="text/html;charset=UTF-8" http-equiv="Content-Type"><br> <title></title><br></head><br><body bgcolor="#ffffff" text="#000000"><br><font face="Helvetica, Arial, sans-serif">DELETE</font><br></body><br></html> <!DOCTYPE html PUBLIC “-//W3C//DTD HTML 4.01 Transitional//EN”>
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]]> By: unsecured loans for bad credit http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-29172 unsecured loans for bad credit Thu, 08 Oct 2009 16:18:15 +0000 http://www.bripblap.com/?p=1077#comment-29172 thats a nice article. ... thats a nice article. …

]]> By: 401k_ira http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-28967 401k_ira Fri, 04 Sep 2009 06:19:56 +0000 http://www.bripblap.com/?p=1077#comment-28967 Thanks for information, I'll always keep updated here! Thanks for information, I'll always keep updated here!

]]> By: P2P Liquidity Concerns at Prosper and Lending Club - No Problem for YadYap | YadYap Lending News http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27413 P2P Liquidity Concerns at Prosper and Lending Club - No Problem for YadYap | YadYap Lending News Fri, 13 Mar 2009 21:27:18 +0000 http://www.bripblap.com/?p=1077#comment-27413 [...] lending club, my best investment of 2008 (bripblap.com) [...] [...] lending club, my best investment of 2008 (bripblap.com) [...]

]]> By: Friday Finance Findings for January 30th | Finance Money Financial News http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27154 Friday Finance Findings for January 30th | Finance Money Financial News Sun, 01 Feb 2009 20:28:01 +0000 http://www.bripblap.com/?p=1077#comment-27154 [...] Lending Club, My Best Investment of 2008 - It should actually come as no surprise, but many people who use Lending Club or Prosper to fund loans are finding they were the best investments of the year. I actually just signed up and funded a bunch of loans this past week myself. I’m going to give it a try and see how it works so I can hopefully provide an in-depth review of the process and performance for everyone here. [...] [...] Lending Club, My Best Investment of 2008 – It should actually come as no surprise, but many people who use Lending Club or Prosper to fund loans are finding they were the best investments of the year. I actually just signed up and funded a bunch of loans this past week myself. I’m going to give it a try and see how it works so I can hopefully provide an in-depth review of the process and performance for everyone here. [...]

]]> By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27148 Steve @ bripblap Sat, 31 Jan 2009 01:10:20 +0000 http://www.bripblap.com/?p=1077#comment-27148 Sure, I think that's understood, Elaine. The fact that it's effectively an unsecured loan is what drives the higher rates of return. It's the same with credit cards and mortgages - the credit card rates are higher since they are unsecured. Sure, I think that's understood, Elaine. The fact that it's effectively an unsecured loan is what drives the higher rates of return. It's the same with credit cards and mortgages – the credit card rates are higher since they are unsecured.

]]> By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27147 Steve @ bripblap Sat, 31 Jan 2009 01:09:10 +0000 http://www.bripblap.com/?p=1077#comment-27147 It's hard to say - maybe I've been lucky so far, but I've only got one late loan and so far no defaults. Certainly I'd be singing a different tune to a 53% default rate - but then again, one of my mutual funds is down 60%, so it's hardly unusual. It's hard to say – maybe I've been lucky so far, but I've only got one late loan and so far no defaults. Certainly I'd be singing a different tune to a 53% default rate – but then again, one of my mutual funds is down 60%, so it's hardly unusual.

]]> By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27146 Steve @ bripblap Sat, 31 Jan 2009 01:06:21 +0000 http://www.bripblap.com/?p=1077#comment-27146 @PFO: I didn't invest much - we're talking less than $1000 all told. I would have invested more recently but Prosper's not accepting new lender activity and Lending Club hasn't been "approved" or whatever the term is in New Jersey yet, although I am sure they will be shortly.<br><br>I don't think saying I've got a 12% return to date is any more or less accurate than talking about my unrealized stock gains/losses would be. That represents the rate on the loans, and I've realized SOME of the interest and SOME of the principal being returned. It's just the same as saying a mutual fund lost 30% this year... it did, but if I haven't sold it yet the return might be different next year.<br><br>Well, the 2% rate comes from Lending Club, and to be honest most of the loans I've made on LC and Prosper aren't for desperate people refinancing - it's people who are consolidating and taking a very measured approach to debt repayment, or trying to raise capital for a venture. <br><br>I've seen a few of the stats sites, and I'll probably cover that in a future post if I write more about LC or Prosper. And you're entirely correct that the default rate would represent a decrease in my overall return, but I've been lucky (or a good loan picker) and haven't seen defaults yet. @PFO: I didn't invest much – we're talking less than $1000 all told. I would have invested more recently but Prosper's not accepting new lender activity and Lending Club hasn't been “approved” or whatever the term is in New Jersey yet, although I am sure they will be shortly.

I don't think saying I've got a 12% return to date is any more or less accurate than talking about my unrealized stock gains/losses would be. That represents the rate on the loans, and I've realized SOME of the interest and SOME of the principal being returned. It's just the same as saying a mutual fund lost 30% this year… it did, but if I haven't sold it yet the return might be different next year.

Well, the 2% rate comes from Lending Club, and to be honest most of the loans I've made on LC and Prosper aren't for desperate people refinancing – it's people who are consolidating and taking a very measured approach to debt repayment, or trying to raise capital for a venture.

I've seen a few of the stats sites, and I'll probably cover that in a future post if I write more about LC or Prosper. And you're entirely correct that the default rate would represent a decrease in my overall return, but I've been lucky (or a good loan picker) and haven't seen defaults yet.

]]> By: Steve @ bripblap http://www.bripblap.com/2009/lending-club-my-best-investment-of-2008/comment-page-1/#comment-27145 Steve @ bripblap Sat, 31 Jan 2009 00:59:03 +0000 http://www.bripblap.com/?p=1077#comment-27145 I certainly will cover it a bit more, although my earlier post "what is Lending Club" covers a lot of ground. In a nutshell, you're making 3-year loans at a set interest rate. That's massively oversimplified (maybe too much) but effectively that's what's happening. I certainly will cover it a bit more, although my earlier post “what is Lending Club” covers a lot of ground. In a nutshell, you're making 3-year loans at a set interest rate. That's massively oversimplified (maybe too much) but effectively that's what's happening.

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