I am not sure I totally follow the indignation of the OP. If the portfolio, over time, adheres to his/her allocation guidelines, then isn't that the key here? Whether or not early BIDS are deployed with a slightly different bent, isn't that to be expected until loans close and fund - and then the account balances into the allocation guidelines over time?
This is a good point and perhaps I'm being too picky, but the things that I didn't like were that:
1. The portfolio was not going to adhere to my allocation guidelines over time because I specified that 100% should be invested into notes with 5 year terms while the initial deployment was almost entirely into notes with 3 year terms. I didn't know that HR notes weren't issued with 5 year terms...that's kinda why I signed up for Premier. They also haven't been purchasing B rated notes even though there have been plenty on the platform and, as the weeks roll by, they don't seem to be making any attempt to increase this allocation.
2. Once I was forced to take the time to learn more about how Prosper worked, my Premier advisor was really adamant about me NOT using that knowledge to tweak my portfolio. It appears the "premier analyst" uses an API to only buy notes that have reached "Verification Stage" 2-3 and it seems like they neglect to purchase the popular notes that have a high funding percentage...does this mean they are pawning off the unpopular notes onto me?
3. Now that I've been watching more closely all their automated investment options just seem really buggy or have additional hidden screens (for example, searches automatically filter out notes you've already purchased even if you don't make that part of the screen)...I'm simply trying to get a piece of every loan that Prosper finances, but why does it seem like that's impossible without placing manual bids?
I wouldn't say I'm full of indignation, but I was hoping to get your opinions on whether or not I should be because so far things haven't gone as I was expecting them to go and I'm wondering if I've been set up for more disappointment. Considering the risks involved I would remain gratified if I at least broke even (after defaults), but I don't want to be a stooge that's guaranteed to absorb only bad notes.