Comments on: In Defense of Prosper.com – A Look at the Investment http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/ Saving, Earning, and Investing Money Sat, 11 Feb 2012 03:58:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Twitted by RateLadder http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-144900 Twitted by RateLadder Sun, 09 Aug 2009 02:00:27 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-144900 [...] This post was Twitted by RateLadder [...] [...] This post was Twitted by RateLadder [...]

]]> By: Revealing the Keys to Prosper Success http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4958 Revealing the Keys to Prosper Success Fri, 23 Mar 2007 15:19:01 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4958 [...] this week, I defended the Prosper’s business viability. I spent two posts rebutting the idea that it might not be a good investment. Just yesterday, I discussed the [...] [...] this week, I defended the Prosper’s business viability. I spent two posts rebutting the idea that it might not be a good investment. Just yesterday, I discussed the [...]

]]> By: RateLadder.com http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4751 RateLadder.com Thu, 22 Mar 2007 05:46:02 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4751 [...] Wednesday - In Defense of Prosper.com - A Look at the Investment [...] [...] Wednesday – In Defense of Prosper.com – A Look at the Investment [...]

]]> By: ProsperLenders.com http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4737 ProsperLenders.com Thu, 22 Mar 2007 04:13:51 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4737 I would advise caution in trusting standing orders at this point unless one is very familiar with the advanced (click that tab on the SO creation page) credit details AND with the intricacies of Experian's ScoreX Plus (Prosper's scoring product of choice - which is a proprietary, predictive, and, after watching it for the last year, kind of weird credit model). (Editor: removing poster's your self-promoting marketing) And if you're not interested in numbers, you can get an excellent feel for who's been reading and who's been bleeding by visiting the official Prosper forums at: forums.prosper.com Someone from the press nicknamed the community there the "SmartMob" for their loan investigation skills, but I think it might be more like "SmartHerd" at the moment - with many of the lenders chasing the same loans. But there's still an excellent amount of information (and insight) to be had there... I recommend it - just don't get hooked. -t I would advise caution in trusting standing orders at this point unless one is very familiar with the advanced (click that tab on the SO creation page) credit details AND with the intricacies of Experian’s ScoreX Plus (Prosper’s scoring product of choice – which is a proprietary, predictive, and, after watching it for the last year, kind of weird credit model).

(Editor: removing poster’s your self-promoting marketing)

And if you’re not interested in numbers, you can get an excellent feel for who’s been reading and who’s been bleeding by visiting the official Prosper forums at: forums.prosper.com

Someone from the press nicknamed the community there the “SmartMob” for their loan investigation skills, but I think it might be more like “SmartHerd” at the moment – with many of the lenders chasing the same loans. But there’s still an excellent amount of information (and insight) to be had there… I recommend it – just don’t get hooked.

-t

]]> By: Lazy Man http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4655 Lazy Man Wed, 21 Mar 2007 18:20:33 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4655 RateLadder has the right point. There's no need to settle for average. I simply wanted to make a point here, that one can get that average 9-10% by doing very minimal work. Setting up a standing order that says, put money in anything grades A-D, should get you the 9%. I think that's really compelling in itself. However, on Friday we'll look at ways to do much better than average (without spending more than 30 minutes a week). RateLadder has the right point. There’s no need to settle for average. I simply wanted to make a point here, that one can get that average 9-10% by doing very minimal work. Setting up a standing order that says, put money in anything grades A-D, should get you the 9%. I think that’s really compelling in itself. However, on Friday we’ll look at ways to do much better than average (without spending more than 30 minutes a week).

]]> By: Moneymonk http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4644 Moneymonk Wed, 21 Mar 2007 16:58:03 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4644 I think there are risk anytime you invest your money. Whether it be Canadian oil trusts, reits prosper loans. To each it's own. Im just happy to see that there are variety ways to invest or make money. I think there are risk anytime you invest your money. Whether it be Canadian oil trusts, reits prosper loans.

To each it’s own. Im just happy to see that there are variety ways to invest or make money.

]]> By: Lazy Man http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4637 Lazy Man Wed, 21 Mar 2007 16:16:13 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4637 Marcus, that's an excellent point. According to Andrew (a Prosper employee/evangelist), Prosper <a href="http://www.mdmproofing.com/iym/weblog/2006/03/updating-my-prosper-experience.html#c114168309350116886" rel="nofollow">does some income verification</a>, but it is very rare. In <a href="http://savvysaver.blogspot.com/2006/02/problems-with-prosper.html" rel="nofollow">these comments</a> he adds, "It is also a felony to misrepresent your income on a credit application, so we don't advise doing this, and will immediately close your account if you're caught doing so." So yes, in some ways there's a bit of the honor system with the income reporting. However, there's the same honor system with people paying their taxes. That gives me some comfort that they are at least close to accurate a majority of the time. It's not like they are complete random numbers. Marcus, that’s an excellent point. According to Andrew (a Prosper employee/evangelist), Prosper does some income verification, but it is very rare. In these comments he adds, “It is also a felony to misrepresent your income on a credit application, so we don’t advise doing this, and will immediately close your account if you’re caught doing so.” So yes, in some ways there’s a bit of the honor system with the income reporting. However, there’s the same honor system with people paying their taxes. That gives me some comfort that they are at least close to accurate a majority of the time. It’s not like they are complete random numbers.

]]> By: Marcus http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4631 Marcus Wed, 21 Mar 2007 15:48:28 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4631 One point in Jonathon's email is that Prosper applicants 'self-report' their income and he doesn't think Prosper pays for the verification. But a lot of that information comes from the credti report - revolving credit balance and ratio of the balance to available credit, for example. One point in Jonathon’s email is that Prosper applicants ‘self-report’ their income and he doesn’t think Prosper pays for the verification. But a lot of that information comes from the credti report – revolving credit balance and ratio of the balance to available credit, for example.

]]> By: RateLadder.com http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/comment-page-1/#comment-4614 RateLadder.com Wed, 21 Mar 2007 14:21:24 +0000 http://www.lazymanandmoney.com/in-defense-of-prospercom-a-look-at-the-investment/#comment-4614 I understand that the only way to analyze the marketplace is in general and on average, but... Why would anyone without capacity issues settle for average? I understand that the only way to analyze the marketplace is in general and on average, but…
Why would anyone without capacity issues settle for average?

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