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Senator
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« Reply #1 on: May 23, 2009, 09:01:47 pm » |
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Nothing happening at prosper these days, so Fred93 ....
Nothing `eh? Certainly more and more Prosper loans are going bad, yes? ETA: Thanks Fred. |
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Stats as of 6/28/2010:
Total withdrawals: $3,488.74 minus (-) Total deposits: $3,600.00 = ($111.26)
Cash balance: $0
Principal value of active notes: $0
Total active notes: 0 of 70.
Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.
I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.
It's a great time to be poor and irresponsible in America. -PPT May 2009
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bankomatic
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« Reply #2 on: May 23, 2009, 09:17:57 pm » |
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I certainly don't like the slope of those lines. They don't level off that much.
edit:
In fact they appear to be getting steeper lately.
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ira01
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« Reply #3 on: May 23, 2009, 09:54:05 pm » |
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I certainly don't like the slope of those lines. They don't level off that much.
edit:
In fact they appear to be getting steeper lately. Yeah, the last two months are downright scary looking. If that's the start of a new trend, LC will give Prosper a run for its (lost) money.  |
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onthefence
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« Reply #4 on: May 23, 2009, 10:18:59 pm » |
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When did Lending Club shut down & do their own originations?
I am guessing that would be those flat months.
In any case, Lending Club has their interest rates set far too low to compensate for their default risks. As are the only way to go on that platform.
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nonattender
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« Reply #5 on: May 27, 2009, 04:42:45 pm » |
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Once again, just for rigor, Fred's charts are representative of all loans, over all credits. So, grains of salt.
-t
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bamalucky
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« Reply #6 on: May 27, 2009, 04:59:17 pm » |
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Once again, just for rigor, Fred's charts are representative of all loans, over all credits. So, grains of salt.
-t
Are you trying to defend LC now? |
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There are no stupid questions, just stupid people.
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nonattender
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« Reply #7 on: May 27, 2009, 05:06:15 pm » |
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If pointing out that the metric he's using is an aggregate of all loans (rather than broken down and/or
bucketed by credit grade / credit quality) is "defending", then yes. Same goes for his Prosper charts.
It's just not a terribly useful metric to look at... in the same way that some of the P2P companies
present their statistics with a positive spin when speaking in public (by only talking about a select
number of the loans, based on credit quality), Fred's chart should be viewed with equal skepticism.
As usual, the truth is somewhere in the middle... and requires a bit more digging than is here done.
-t
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bamalucky
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« Reply #8 on: May 27, 2009, 05:25:10 pm » |
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Oh great guru,can you link us to the charts you make?
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There are no stupid questions, just stupid people.
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112233
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« Reply #9 on: May 27, 2009, 05:33:28 pm » |
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it depends what you're looking for. wouldnt a change in slope be useful information for example?
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Urbi_et_Orbi
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« Reply #10 on: May 27, 2009, 05:45:50 pm » |
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As long as same-type data is being collected over time, I think it's useful (as useful as anything else we have) - other caveats notwithstanding.
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ira01
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« Reply #11 on: May 27, 2009, 06:45:58 pm » |
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If pointing out that the metric he's using is an aggregate of all loans (rather than broken down and/or
bucketed by credit grade / credit quality) is "defending", then yes. Same goes for his Prosper charts.
It's just not a terribly useful metric to look at... in the same way that some of the P2P companies
present their statistics with a positive spin when speaking in public (by only talking about a select
number of the loans, based on credit quality), Fred's chart should be viewed with equal skepticism.
I disagree. After all, someone funded each and every one of those loans, so each default represents real lender money down the tubes. Fred's charts show that around 40% of the loans ever funded on Prosper are likely to wind up in the crapper before the end of the three-year term. I think that is a "useful metric." Of course it doesn't tell the entire story about Prosper -- no one chart could. But that doesn't make then "not terribly useful." |
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Staneslav
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« Reply #12 on: May 27, 2009, 08:00:57 pm » |
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If pointing out that the metric he's using is an aggregate of all loans (rather than broken down and/or
bucketed by credit grade / credit quality) is "defending", then yes. Same goes for his Prosper charts.
It's just not a terribly useful metric to look at... in the same way that some of the P2P companies
present their statistics with a positive spin when speaking in public (by only talking about a select
number of the loans, based on credit quality), Fred's chart should be viewed with equal skepticism.
As usual, the truth is somewhere in the middle... and requires a bit more digging than is here done.
-t
Knowing the distribution of the population as a whole is just as important and useful as knowing the distribution of strati within the population. Be careful what you say, someone might mistake you for someone who knows what they're talking about. |
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I apologize for nothing and I'm sorry for less.
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onthefence
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« Reply #13 on: May 28, 2009, 09:28:18 am » |
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I think the charts are very significant since Lending Club sets the level of interest rates. Clearly Lending Club has not been doing a good job of this.
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