Tuesday, October 28, 2008

Done With Prosper.com

Well, my stock picks are not looking too good at the moment. Who would of thought the market would collapse like that. But, check back in a year or so and they may not look so bad...

In previous posts I have discussed prosper.com (Peer-to-Peer Lender) as a nice alternative to invest your money. Well, due to a number of my loans on Prosper defaulting over the last couple of months, I have decided I will no longer be investing in any loans on the site going forward. Their credit requirements are too lax and their are too many defaults among their borrowers.

If I do invest in Peer-to-Peer Lending in the future, I will be using lendingclub.com where the credit requirements are more strict. I have nine loans with lending club, and so far, for all of them, the borrowers have paid on time.

Thursday, October 2, 2008

Stock Picks and Stock Picking

Been a long time since my last post (I have been lazy), but here are a couple of stock picks for Oct 2nd, 2008:

FNM 1.56
FRE 1.80

Both Fannie and Freddie are huge billion dollar companies (backed by the Federal Govt I might add) that I see getting back in their feet in the long-term. I will check back in a year and see how my picks did. I will post more picks in the future as I come across them.

I'm also working on putting together a stock picking program that I have been meaning to design and develop. I think given the current stock market conditions, its time as come. Will update in the coming weeks and months as I begin design and development.

Wednesday, February 13, 2008

Personal Finance Blogs

Here is a re-post of some of my favorite personal finance blogs. All are very good and very informative. Here are some links to a few of the blogs I read daily:

Get Rich Slowly
Lazy Man and Money
Five Cent Nickel
The Simple Dollar

Thursday, January 3, 2008

Lending Club

There is new Peer-to-Peer lending site up and running now called Lending Club. It works similar to Prosper. According to their site, on average, you can earn 12.3% returns as a lender, and borrow money for as low 7.62% if you have a stellar credit. You can bid on loans in increments as little as 25$, or use 500$ and have them create a portfolio for you based on your risk aversion. I have been using Prosper for almost a year now so I'm going to try this site and see how it is.