Messages

Folio is dead.
I finished liquidating my Lending Club investment "under the wire" by 8 months using Folio sales.
I'm thankful that I got it done in time (and it was only a matter of time). Turns out it was a good time to invest in stocks.
I'm not young (70), I don't feel old, but every day is a blessing.
Didn't want to potentially leave my heirs (my trustee) with 3 years of "stuck with it" and never invested in 5 year notes for the same reason.
There no doubt are others that are similarly inclined and will offer notes for sale at significant discounts just to be out.
IMO, bargains will be offered to those with the time horizon to accept them.

Are you precious metals allocation ETFs? That's one big gap in my portfolio. I wish there was a way to share an image on this portfolio, I could share my allocation image.

Interesting read from the NY Fed:

Total Household Debt Decreased in Q2 2020, Marking First Decline Since 2014
https://www.newyorkfed.org/newsevents/news/research/2020/20200806" class="bbc_link" target="_blank">https://www.newyorkfed.org/newsevents/news/research/2020/20200806

https://forum.lendacademy.com/index.php?topic=21625.msg62014#msg88888888Quote"> from: titlewealth on August 07, 2020, 10:05:06 PM

As of 08.07.20

22 Total hardship

15 "current" (for lack of a better term)

7 fully paid

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LC also added a "View hardship notes only" checkbox on the notes page. I think it's just the recent Covid-related notes because none are charged off. In any case, it shows I have 92 total, 13 Paid, 3 IGP, 1 Late 16-30, and 2 Late 31-120. (Out of 4,182 notes, of which only 1,242 are current, 39 IGP, 11 Late 16-30, and 22 Late 31-120 with 782 C/O)

Under 10% being hardship and less than 10% of those being delinquent seems really good, seeing as how 20% of the country has lost their jobs.

I'm also seeing higher recoveries, and less late notes, although IGP is back to the normal level this month. IGP was also high last month, but most wound up paying or deferring (hardship but marked current). I have one note showing a payment due date in October and one in November, but they're fully paid. That's odd. All the rest are currently only deferred until end of September at the latest.

Recoveries from my taxable account:

https://i.imgur.com/CaajuQw.png" class="bbc_link" target="_blank">https://i.imgur.com/CaajuQw.png

Which I've drawn down by around 50% since September. 50% D grade, 30% C, 10% E, 6% B and the remainder F & G.

For some context of how it's been going, here's my detailed breakdown of the past 4 years:

https://i.imgur.com/thhEjve.png" class="bbc_link" target="_blank">https://i.imgur.com/thhEjve.png

I'm actually doing better than before, though I'm not sure if that's more related to not reinvesting... Over the life of the account, I've had A few negative months, but it's been a lot better than what I was expecting reading this forum 4 years ago on the heels of the scandal. Too bad my state got barred from the primary market or I'd still be investing in this account. (Don't want the headache of folio investing on a taxable account. Getting even better results in folio on my Roth IRA though.) Besides, it's like supplemental unemployment income! lol

LC has been a good hedge IMO, just need to put in the time back-testing to develop good loan filters and reevaluate them every few months.

You mentioned and interest in Folio, so i'll just say that my account with NO Folio exposure is doing great now, and my other account which is now about 50% Folio since switching from 0% to 100% Folio in September is doing even better from just buying never late notes with the same filters. Though it's still early, it seems like the expected outcome.

Good luck out there.

Had some issues with my email and had to create a new account.  The previous thread is located:  https://forum.lendacademy.com/index.php/topic,4828.0.html" class="bbc_link" target="_blank">https://forum.lendacademy.com/index.php/topic,4828.0.html

A lot of you guys on here were very kind answering my questions prior to me signing up with Lending Club.  I'll try to give an update monthly or so.

I started buying loans on 09-14-17 and I've been adding several to my account weekly.



Update as of 08.01.20

My annualized return on loans that have paid off is 9.49%.

My Notes at-a-Glance         855

Not Yet Issued                    4
Issued & Current                593
In Grace Period                   4
Fully Paid                           208
Late 16-30                         0
Late 31-120 Days               3
Default                               0
Charged Off                        41
Canceled                            2


Adjusted Net Annualized Return      8.72%
Net Annualized Return                   11.86%
Weighted Average Age of Portfolio  16.9 months

My notes by grade are:

A  22.30%
B  60.10%
C  12.90%
D  3.6%
E   1.10%


I've been using LC picks (see other threads in the forum about them if you are unfamiliar) in order to pick which loans to invest in. My LC picks ranking is 66.9/82.

Thanks again for all who helped out in the past.

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I've had two loans in hardship status in the past two days that have paid off in full.  That is good I guess.

Message from LC today says "Fix for this issue is in flight."

https://forum.lendacademy.com/index.php?topic=21687.msg61979#msg88888888Quote"> from: AnilG on July 18, 2020, 08:36:00 PM

Actually, if you check the size on disk, it will say 895 even though download says 874. Yes, the file doesn't uncompress because it is incomplete. Problem might be on Lending Club end. I tried two ISPs, multiple browsers, command line curl, same problem. I guess LC is hosting these files on Box or Dropbox as those services were having issues serving large GB size files.

https://forum.lendacademy.com/index.php?topic=21687.msg61978#msg88888888Quote"> from: Fred93 on July 18, 2020, 05:47:15 PM

https://forum.lendacademy.com/index.php?topic=4212.msg61965#msg88888888Quote"> from: lascott on July 07, 2020, 05:04:13 PM