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Author Topic: Is this a bad sign?  (Read 198022 times)

Urbi_et_Orbi

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Is this a bad sign?
« on: December 29, 2007, 02:56:07 pm »

Would you consider the December bidding activity of these two as a potentially ominous sign?

http://www.lendingstats.com/lenders/jwitchel
http://www.lendingstats.com/lenders/anton

I understand that both have a bit of an erratic bidding pattern in the past, but I still think it's a paradox the Prosper's two top executives appear to have a limited appetite for their own product.

ETA: Prosper's credit expert (and member of the advisory board) appears to have had enough:
http://www.lendingstats.com/lenders/jimr

Prosper's former Chief Marketing Officer - despite his surprisingly well-performing portfolio - appears to not find the experience to his satisfaction:
http://www.lendingstats.com/lenders/nbnlb100

The Edi-[edited to remove reference to the fact that Rate_Ladder's primary motivation for blogging is personal financial gain]-in-chief of Prosper's cheerleading section doesn't seem too enthused:
http://www.lendingstats.com/lenders/RateLadder_com

The enthusiasm of Prosper's Marketing Department appears to be directly correlated to their personality, talent and skill:
http://www.lendingstats.com/lenders/Lil'%20Miss%20Lagniappe

Yet another person on Prosper's Advisory Board - and the golden circle of group leaders - seems to be saying bah humbug:
http://www.lendingstats.com/lenders/TheKurse
« Last Edit: December 29, 2007, 09:51:47 pm by Urbi_et_Orbi »
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leporello

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Re: Is this a bad sign?
« Reply #1 on: December 29, 2007, 03:02:30 pm »

Maybe they're fed up with the defaults?
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Mark12547

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Re: Is this a bad sign?
« Reply #2 on: December 29, 2007, 03:51:27 pm »

Maybe they're fed up with the defaults?

It could be. That and the good listings generally being bid way too low to get the advertised returns.

If they place manual bids, the bid advisories (such as expected returns) may have a chilling effect on the more capital-loss-friendly listings.

Or maybe they suspect, like some of us, that Prosper's days are numbered because the loan originations had plateaued way below profitability.
« Last Edit: December 29, 2007, 03:55:17 pm by Mark12547 »
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jazzpianist

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Re: Is this a bad sign?
« Reply #3 on: December 29, 2007, 04:03:30 pm »

Maybe they just spent their money this month on Christmas gifts for the family :-)

jazz
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Navy-slush-fund

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Re: Is this a bad sign?
« Reply #4 on: December 29, 2007, 04:17:00 pm »

 You will know for sure If they serve powdered eggs instead of the real thing at the lenders breakfast at PD 2008... :-\
« Last Edit: December 29, 2007, 04:18:31 pm by Navy-slush-fund »
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cowdog

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Re: Is this a bad sign?
« Reply #5 on: December 29, 2007, 04:17:48 pm »

Some of those portfolios are doing quite well. Even at that, every one of those people can now look at their loans and see a 10% default rate has already happened or is probable. That is too high.

 ;D
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Mtnchick

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Re: Is this a bad sign?
« Reply #6 on: December 29, 2007, 04:28:31 pm »

They ran out of friends, family and fellow employees to bid on.
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leporello

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Re: Is this a bad sign?
« Reply #7 on: December 29, 2007, 04:32:13 pm »

Just wondering...Why does anton (Chris Larsen, Prosper CEO) have such a high proportion of paid-off loans?

It is lots of short-term lending to friends & family?
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Urbi_et_Orbi

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Re: Is this a bad sign?
« Reply #8 on: December 29, 2007, 04:47:45 pm »

Just wondering...Why does anton (Chris Larsen, Prosper CEO) have such a high proportion of paid-off loans?


My guess is that it's because his bidding was heavily weighted at the beginning of the show (including quite a chunk before the site was open to the public).

msava

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Re: Is this a bad sign?
« Reply #9 on: December 29, 2007, 05:00:47 pm »

At least this proves they don't have inside knowledge.
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bankomatic

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Re: Is this a bad sign?
« Reply #10 on: December 29, 2007, 05:07:17 pm »

What's interesting is that according to lendingstats none of them are breaking 9% return, but they advertise 9% return on their ads. If the people who run the company can't break 9% retun what does that say to about regular lenders?

Urbi_et_Orbi

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Re: Is this a bad sign?
« Reply #11 on: December 29, 2007, 05:08:11 pm »

At least this proves they don't have inside knowledge.

As it relates to the performance of their personal portfolios - yes.

The fact that they are either not still bidding - or their lending has tapered off significantly - is open to interpretation as to whether or not that's a result of insider knowledge.

bamalucky

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Re: Is this a bad sign?
« Reply #12 on: December 29, 2007, 05:10:19 pm »

At least this proves they don't have inside knowledge.

OOPS,public forum...Sorry new readers,you have to join to see my thoughts on MsAva
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j9359

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Re: Is this a bad sign?
« Reply #13 on: December 29, 2007, 06:28:10 pm »

What's interesting is that according to lendingstats none of them are breaking 9% return, but they advertise 9% return on their ads. If the people who run the company can't break 9% retun what does that say to about regular lenders?
Umm, could it be false advertising ?
I think that John Witchel, Anton and the others at Prosper have put themselves into a no win situation.  They could have avoided this by taking the "conflict of interest" excuse and not made any loans.  But since they are in now, it seems to me that they should all be in a portfolio plan that promises at least the return advertised in that latest marketing material.
Second thought:  maybe they are all waiting and saving until the secondary market becomes a reality and they are going to buy up all the bad loans.
john.
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lenderguy

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Re: Is this a bad sign?
« Reply #14 on: December 29, 2007, 08:07:13 pm »

What's interesting is that according to lendingstats none of them are breaking 9% return, but they advertise 9% return on their ads. If the people who run the company can't break 9% retun what does that say to about regular lenders?
Umm, could it be false advertising ?
I think that John Witchel, Anton and the others at Prosper have put themselves into a no win situation.  They could have avoided this by taking the "conflict of interest" excuse and not made any loans.  But since they are in now, it seems to me that they should all be in a portfolio plan that promises at least the return advertised in that latest marketing material.
Second thought:  maybe they are all waiting and saving until the secondary market becomes a reality and they are going to buy up all the bad loans.
john.


maybe they're stalling the secondary market so they don't have to...
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