Comments on: Prosper Winners and Losers http://www.lazymanandmoney.com/prosper-winners-and-losers/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: PPFS http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-9158 PPFS Fri, 20 Apr 2007 18:14:54 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-9158 This must be you're prosper portfolio? http://www.lendingstats.com/memberProfile?lenderId=TechnologyGuy&originationFilter=0&loanStatusFilter=0 This must be you’re prosper portfolio?

http://www.lendingstats.com/memberProfile?lenderId=TechnologyGuy&originationFilter=0&loanStatusFilter=0

]]> By: Money Articles: Want To Know How To Double Your Money? Why Not Triple It? » Silicon Valley Blog About Money http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7875 Money Articles: Want To Know How To Double Your Money? Why Not Triple It? » Silicon Valley Blog About Money Sat, 14 Apr 2007 15:16:36 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7875 [...] Man And Money has Prosper Winners and Losers, which discusses the players in the world of Prosper. Again, Lazy shares his views on this online [...] [...] Man And Money has Prosper Winners and Losers, which discusses the players in the world of Prosper. Again, Lazy shares his views on this online [...]

]]> By: Gaming the Credit System http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7792 Gaming the Credit System Fri, 13 Apr 2007 21:24:20 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7792 The point that "the borrower always gets a better deal than they could have elsewhere" has to be taken in conjunction with the first borrower point, that Prosper is there where traditional loan methods aren't in place. The people who are getting loans on Prosper (from what I've seen) usually aren't in a position to get 0% credit cards or HELOCs. If they could, why would they be on Prosper? Okay, so maybe there are a few idealistic-minded, tech-savvy people who hear about Prosper and figure that it's a neat way to fund a business venture or something, but even then you have to consider that if they really had a good case then they could take it to the bank for an SBA loan or something. The point that “the borrower always gets a better deal than they could have elsewhere” has to be taken in conjunction with the first borrower point, that Prosper is there where traditional loan methods aren’t in place. The people who are getting loans on Prosper (from what I’ve seen) usually aren’t in a position to get 0% credit cards or HELOCs. If they could, why would they be on Prosper?

Okay, so maybe there are a few idealistic-minded, tech-savvy people who hear about Prosper and figure that it’s a neat way to fund a business venture or something, but even then you have to consider that if they really had a good case then they could take it to the bank for an SBA loan or something.

]]> By: Kev http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7500 Kev Wed, 11 Apr 2007 16:48:47 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7500 LazyMan: After giving the Prosper thing a try for ~6 months, I have to agree. For me, getting into prosper wasn't so much an ROI as it was a way to create a self-perpetuating charity-type account. Basically enabling people to help themselves. With that in mind, I have to factor in the value of my time, etc. And I have to agree with your assessment of the "Lender" being the bottom-of-the barrel at Prosper. I also think the lender rewards (ie: 2-millionaires) really put regular lenders as 4th class instead of 3rd class. I plan to not put any additional $$ into Prosper and let it dwindle. It's simply a sucker's game (for the lender) in its current form. LazyMan: After giving the Prosper thing a try for ~6 months, I have to agree.

For me, getting into prosper wasn’t so much an ROI as it was a way to create a self-perpetuating charity-type account. Basically enabling people to help themselves. With that in mind, I have to factor in the value of my time, etc. And I have to agree with your assessment of the “Lender” being the bottom-of-the barrel at Prosper.

I also think the lender rewards (ie: 2-millionaires) really put regular lenders as 4th class instead of 3rd class.

I plan to not put any additional $$ into Prosper and let it dwindle. It’s simply a sucker’s game (for the lender) in its current form.

]]> By: MossySF http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7408 MossySF Mon, 09 Apr 2007 23:00:38 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7408 I'm in on 16 loans -- soon to be 17. At this point, everybody is current (I had one flip late for a month and then catch up) so I'm getting 16% return from Prosper. I'm in a bit of a pause right now while I evaluate my picks -- and also wait out the wave of new lenders who've come from the recent press (Smart Money magazine, CBS, etc). I’m in on 16 loans — soon to be 17. At this point, everybody is current (I had one flip late for a month and then catch up) so I’m getting 16% return from Prosper. I’m in a bit of a pause right now while I evaluate my picks — and also wait out the wave of new lenders who’ve come from the recent press (Smart Money magazine, CBS, etc).

]]> By: limeade http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7407 limeade Mon, 09 Apr 2007 22:40:25 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7407 As with anything there's risk and reward. I think the Prosper idea is a fantastic one. I've been thinking for awhile now that I should start experimenting with it, but I just haven't gotten around to it yet with everything else I have going on. -limeade As with anything there’s risk and reward. I think the Prosper idea is a
fantastic one. I’ve been thinking for awhile now that I should start
experimenting with it, but I just haven’t gotten around to it yet with
everything else I have going on.

-limeade

]]> By: Lazy Man http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7395 Lazy Man Mon, 09 Apr 2007 16:02:50 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7395 Thanks Dong, when I had outlined my response to the article originally, I meant to put the banks as the big loser myself. Of course, I got a little tied up in defending the points for the lender. Thanks Dong, when I had outlined my response to the article originally, I meant to put the banks as the big loser myself. Of course, I got a little tied up in defending the points for the lender.

]]> By: Dong http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7393 Dong Mon, 09 Apr 2007 15:20:21 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7393 I'm just starting to do prosper lending, so I don't really have opinion on it on a personal level. However, I think the main thing to keep in mind that the losers in this really are tradition banks assuming that prosper delivers as promised. Prosper basically undercuts the middle man. Since they charge a transactional fee, the lenders and borrowers benefit by the lowering the spread that a traditional bank charges when it lends out savings. I’m just starting to do prosper lending, so I don’t really have opinion on it on a personal level. However, I think the main thing to keep in mind that the losers in this really are tradition banks assuming that prosper delivers as promised. Prosper basically undercuts the middle man. Since they charge a transactional fee, the lenders and borrowers benefit by the lowering the spread that a traditional bank charges when it lends out savings.

]]> By: RateLadder.com http://www.lazymanandmoney.com/prosper-winners-and-losers/comment-page-1/#comment-7392 RateLadder.com Mon, 09 Apr 2007 14:48:13 +0000 http://www.lazymanandmoney.com/prosper-winners-and-losers/#comment-7392 [...] LazyMan addressed a comment by a reader that stated the Big winner was Prosper, the runner up was the borrower, and the loser was the borrower…  While I fully support Lazy’s post and views I wanted to add [...] [...] LazyMan addressed a comment by a reader that stated the Big winner was Prosper, the runner up was the borrower, and the loser was the borrower…  While I fully support Lazy’s post and views I wanted to add [...]

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