1 year later: Prosper.com
Comment: more precisely 11 months later!
Earlier posts:
My first blog posting on Prosper.com
Prosper.com: first take
So far I've just broken even. I have one loan ($ 50) where the person made 2 payments and then filed for bankruptcy. While this loan is not technically "in default" I've mentally written off the $ 48.00 that she owes me. To date I've earned $ 51. I have beaten the S&P 500 over the last year (which is not saying much! It is down 9.29% in 1 year!). I'm also better than the Dow.
To date I've invested $ 1800 (my personal Prosper investment stats). My strategy going forward is to continue to invest $ 50 per month in Prosper. I am only loaning to AA and A rated borrowers (the one that will go into default is a C grade).
Here is the Prosper Marketplace Performance (Aggregate for all of Prosper!). Note that the default rate for AA's is .38%.
If any of my Christian friends are interested in forming a Prosper lending group, connect with me and we can discuss this.
I just transfered some money. Have to wait for it to get to prosper though. Let me know how the group thing works.
ReplyDeleteI don't get out much. I've never heard of this thing. Apparently it's some type of bank-type organization? Are the terms legally binding? I would assume they are, or else why would anyone sign up for this?
ReplyDeleteJP, I was hoping you'd give us some good stock tips. Or anyone else?