Jan
16
What Prosper.com Taught Me About Risk
January 16, 2009 | Leave a Comment
In 2007 I started investing with Prosper.com. Prosper is a peer to peer lending website. I thought I was investing cautiously, only choosing to loan to people with good or very good credit (A & AA). Boy was I wrong. I learned some valuable lessons about risk and predicting the future.
With Prosper, like all my [...]
Nov
26
SEC Shuts Down Prosper
November 26, 2008 | Leave a Comment
The SEC has issued a cease and desist letter to online lender Prosper.com. I lend money on Prosper so I have a vested interest in the outcome.
The problem is the SEC claims that loans Prosper facilitates are actually securities (stocks/bonds) not just loans. When you sell securities there are a whole host of byzantine rules [...]
Apr
8
Lending Money on Prosper: What Are the Risks?
April 8, 2008 | 2 Comments
This is the 3rd post in a series of articles about Prosper.com. Prosper is a person to person lending site with an auction format similar to EBay. If you’re a lender you may want to consider the risks of lending money on Prosper before you start loaning money.
In my previous article on Prosper, [...]
Apr
3
Peer to Peer Lending with Prosper Et Al.
April 3, 2008 | 4 Comments
Maybe you’ve heard of peer to peer (p2p) lending. It’s also known as social lending or person to person lending. What is it and how does it work? I have some experience in this area so read on to find out what p2p lending is all about.
Borrowers
Consumer loans are big business. [...]