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Started By
Message
Earn a 10% Yield Without Buying a Single Stock, Thanks to Technology
Posted on 3/9/12 at 9:30 am
Posted on 3/9/12 at 9:30 am
6
Posted on 3/9/12 at 9:31 am to ich1baN
I was expecting CTRL+P.
Posted on 3/9/12 at 9:35 am to ich1baN
quote:
it's known as peer-to-peer (P2P) lending.
"What could possibly go wrong doing that?"-Bernie Madoff
Posted on 3/9/12 at 10:11 am to ich1baN
I have heard of these before and have been more and more inclined to try investing with them. I may start with a small amount and let it grow for a bit and then if it goes as expected I may amp up my investing. Im still not to sure though. The website makes it seem like a promising route but I have read a lot of thing to the contrary as well.
Posted on 3/9/12 at 10:15 am to ich1baN
So basically you are buying a high-yield bond fund.
This post was edited on 3/9/12 at 10:16 am
Posted on 3/9/12 at 10:16 am to JPLSU1981
But supposedly you are 100% liquid. I have emailed them with my concerns so we will see what they say.
Posted on 3/9/12 at 10:18 am to JPLSU1981
I think calling it high yield is understating it. 
Posted on 3/9/12 at 10:24 am to TyOconner
Regions ARS called, they said hi.
Posted on 3/9/12 at 10:26 am to kfizzle85
I just threw $1,000 in a Lending Club account. We will see how it works out. I'll let everybody know after I've been doing it for a year or so.
Posted on 3/9/12 at 10:27 am to BigBoyTiger
Can't believe you put it in this and not a junior miner bro, wtf.
Posted on 3/9/12 at 10:36 am to kfizzle85
Here is a decent review of LendingClub, I am sure there are many others out there, but this is what one of the first results googled yielded me.
LendingClub Review
LendingClub Review
Posted on 3/9/12 at 10:37 am to kfizzle85
quote:
Can't believe you put it in this and not a junior miner bro, wtf.
Que?
Posted on 3/9/12 at 10:49 am to BigBoyTiger
Check some of the other threads and it'll make sense.
Posted on 3/9/12 at 10:51 am to kfizzle85
Gotcha. I will have to do that. Does the joke coincide with the Iraqi Dinars joke?
Posted on 3/9/12 at 11:04 am to BigBoyTiger
quote:
bovine1
quote:
I did. After 3 years on a $5100 investment I'm $36.30 ahead. 26 charge offs so far on 96 original loans. This admittedly was thru a bad recession but their fraud prevention and collection process to me leave a lot to be desired.
From 2010 with a link back to 2007
This post was edited on 3/9/12 at 11:06 am
Posted on 3/9/12 at 11:05 am to BigBoyTiger
quote:
joke coincide with the Iraqi Dinars joke?
Whoa now...since when was this a joke!?!?
Posted on 3/9/12 at 11:07 am to Pierre
Like I said...I threw down only $1,000. We will see how it goes.
Posted on 3/9/12 at 11:12 am to Pierre
Yeah, so basically what this is is a structured fixed income security minus the actual structure. So you're not afforded any waterfall protection but you're still subject to the same risks, but they're advertising it like its got the actual benefits of a structured security via diversification. I don't think average joe realizes that even if you only have a default rate of 1% (or whatever), since you have no protection you take the whole loss (which in this case is probably 100%) and that could easily wipe out your entire return.
Posted on 3/9/12 at 11:17 am to kfizzle85
I went through all of the applications very thoroughly. I committed $25 to each note. Several of these notes didn't end up funding. Several did.
I am curious to how this works out. The economy is getting better. I know a poster on here said he has had some success at Lending Club. I'd like to hear his thoughts as well.
I am curious to how this works out. The economy is getting better. I know a poster on here said he has had some success at Lending Club. I'd like to hear his thoughts as well.
Posted on 3/9/12 at 11:23 am to BigBoyTiger
I'm sure you did your due diligence, it was rather a general comment on the nature of the investment. They're trying to downplay the risk and its incredibly outsized (scale notwithstanding) for your average investor and I seriously doubt they realize that.
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