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Author Topic: Latest prosper lie.Lying bloggers  (Read 11303 times)

cowdog

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Re: Latest prosper lie.Lying bloggers
« Reply #15 on: March 26, 2008, 03:45:43 pm »
Quote from: cubbiesnextyr on March 26, 2008, 10:36:27 am
Quote
I take the amount I initially deposited across all accounts, subtract that from the current value of my prosper portfolios to get the increase. I multiply that by 100 and divide it by original deposits to get the percentage increase.

Let's see...

I've "invested" $2,187.50.  I've withdrawn $795.42.  My current value (as of 3/26/08) is $1,591.25

So, based on his formula...

1,591.25-(2187.50-795.42) = 199.17*100 = 19,917/1392.08 = 14.3%.  Wow, I'm doing way better than I thought!!!   ::)

HMMMMM.

Let me try:

I've transferred in $1075. I've withdrawn $814.96. My current value is $91.57

So, based on his forumula...

91.57 - (1075-814.96) = -168.47*100 = -16847/1075 = -15.67%

HOLY CRAP, and all this time I thought I had ALREADY lost 1/2 of my money, I'm only down 15%

Prosper rocks!

PS: Lending stats shows me as -15.57% ROI as well, even though $150 of $299.10 has defaulted. http://www.lendingstats.com/lenders/teh_cowdog

 ;D ;D ;D
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cubbiesnextyr

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Re: Latest prosper lie.Lying bloggers
« Reply #16 on: March 26, 2008, 03:57:56 pm »
Quote from: cowdog on March 26, 2008, 03:45:43 pm
Quote from: cubbiesnextyr on March 26, 2008, 10:36:27 am
Quote
I take the amount I initially deposited across all accounts, subtract that from the current value of my prosper portfolios to get the increase. I multiply that by 100 and divide it by original deposits to get the percentage increase.

Let's see...

I've "invested" $2,187.50.  I've withdrawn $795.42.  My current value (as of 3/26/08) is $1,591.25

So, based on his formula...

1,591.25-(2187.50-795.42) = 199.17*100 = 19,917/1392.08 = 14.3%.  Wow, I'm doing way better than I thought!!!   ::)

HMMMMM.

Let me try:

I've transferred in $1075. I've withdrawn $814.96. My current value is $91.57

So, based on his forumula...

91.57 - (1075-814.96) = -168.47*100 = -16847/1075 = -15.67%

HOLY CRAP, and all this time I thought I had ALREADY lost 1/2 of my money, I'm only down 15%

Prosper rocks!

PS: Lending stats shows me as -15.57% ROI as well, even though $150 of $299.10 has defaulted. http://www.lendingstats.com/lenders/teh_cowdog

 ;D ;D ;D

Sadly, you miscalculated.

Quote
91.57 - (1075-814.96) = -168.47*100 = -16847/1075 = -15.67%
Should be
Quote
91.57 - (1075-814.96) = -168.47*100 = -16847/260.04 = -64.8%
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cowdog

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Re: Latest prosper lie.Lying bloggers
« Reply #17 on: March 26, 2008, 04:08:05 pm »
awwww

so his formula is right?

 ;D
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cubbiesnextyr

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Re: Latest prosper lie.Lying bloggers
« Reply #18 on: March 26, 2008, 04:15:23 pm »
Quote from: cowdog on March 26, 2008, 04:08:05 pm
awwww

so his formula is right?

 ;D

If all your loans are current and you continuously reinvest, I think it's close.  But my 4+ month lates are so far over-inflated that it's a joke.  They keep incurring more and more interest, yet it's money I'll never ever see.
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Oak_Hill_Fire

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Re: Latest prosper lie.Lying bloggers
« Reply #19 on: March 26, 2008, 04:18:46 pm »
I'm in kind and gentle mode right now, so I only added this to his blog:

Oak_Hill_Fire | March 26th, 2008 at 4:04 pm

Your formula means you expect to collect the full value + interest for all your loans including the 5 that are 2 or more months late? Don’t you think that’s being a little optimistic?
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j9359

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Re: Latest prosper lie.Lying bloggers
« Reply #20 on: March 26, 2008, 06:24:48 pm »
Most excellent! I'm at 11.27% now using the new math.
john.
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Cushie

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Re: Latest prosper lie.Lying bloggers
« Reply #21 on: March 26, 2008, 09:08:25 pm »
I asked 'what about lates/defaults'?  Is it even posted?
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nonattender

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Re: Latest prosper lie.Lying bloggers
« Reply #22 on: March 27, 2008, 07:05:42 am »
RL seems to have let these posts through (I haven't seem him "duck" an issue like this through comment moderation yet, if that's the bama-conspiracy-implication) - including one of mine w/links to EricsCC and LS - and he also responded with a cheerily optimistic truism that "it's not over til it's over".  On balance, I think this is fair - the point isn't to harangue the writer for a "mistake" that a lot of people probably make (given the complication of figuring out even an *estimated* return) - the point is to provide information/clarification that may be helpful to everyone reading along at home.

*drama defused*

-t
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nonattender

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Re: Latest prosper lie.Lying bloggers
« Reply #23 on: March 27, 2008, 01:39:37 pm »
Hmmph.. RL has put a match to what was left of the fuse on the formerly extinguished drama.

Doozies a-plenty:  http://www.rateladder.com/2008/03/27/in-defense-of-living-off-dividends/

-t
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Nothing that I ever say is "professional advice" - principally, because I suffer from an infinitely inescapable prinicipal/agent problem, in that I am, in principle, always acting as my own agent.

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Mtnchick

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Re: Latest prosper lie.Lying bloggers
« Reply #24 on: March 27, 2008, 01:54:27 pm »
RL has never struck me as a knife, let alone the sharpest one on the drawer.
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Staneslav

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Re: Latest prosper lie.Lying bloggers
« Reply #25 on: March 27, 2008, 02:19:50 pm »
a
« Last Edit: December 07, 2017, 04:50:51 pm by Staneslav »
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traveler505

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Re: Latest prosper lie.Lying bloggers
« Reply #26 on: March 27, 2008, 02:47:44 pm »
Quote from: Staneslav on March 27, 2008, 02:19:50 pm
Rate_Ladder said "Why on earth should he guess at the value of not yet realized losses?"

Simply put, dumbass, because the returns can only move in one direction, down. And when something goes late, the odds of it defaulting skyrocket.

Rate_Ladder, steer clear of me. You're either a huge idiot, or you are deliberately misleading people for personal gain. Only one of these options is forgivable.

Beyond that, Prosper supplies data on the projected loss rate for late loans.  Whether the official projections are accurate or not is another story, but it certainly makes more sense to use those than to assume 100% recovery on late loans.
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112233

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Re: Latest prosper lie.Lying bloggers
« Reply #27 on: March 27, 2008, 03:16:27 pm »
If I start a job in Jan and get fired after 1 month, can I multiply that month's salary by 12 to get my estimated annual salary even if I stay unemployed for the rest of the year?
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Staneslav

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Re: Latest prosper lie.Lying bloggers
« Reply #28 on: March 27, 2008, 03:23:08 pm »
a
« Last Edit: December 07, 2017, 04:48:37 pm by Staneslav »
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112233

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Re: Latest prosper lie.Lying bloggers
« Reply #29 on: March 27, 2008, 03:38:45 pm »
Quote from: Staneslav on March 27, 2008, 03:23:08 pm
Quote from: 112233 on March 27, 2008, 03:16:27 pm
If I start a job in Jan and get fired after 1 month, can I multiply that month's salary by 12 to get my estimated annual salary even if I stay unemployed for the rest of the year?

According to prosper yes! And even better, your projected income qualifies you for up to $25,000 in loans!
freakin awesome
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