WealthBoy - Latest Comments in Prosper Investing Tips and Testimonial

Re: Prosper Investing Tips and Testimonial

Cannonballdex — Thu, 22 Sep 2011 09:20:38 -0000

I also played the prosper charity game. I invested 5,000 and it only took one bad loan on a guy that borrowed 25,000 with A rating and never made a payment. I lost all my gains in one deal which left me out about 300.00

Re: Prosper Investing Tips and Testimonial

WealthBoy — Tue, 20 Oct 2009 08:13:51 -0000

I'm just reinvesting funds I already have there now that I'm able to once
again. I have nothing to lose but my initial investment.

Re: Prosper Investing Tips and Testimonial

ToySoldierman — Mon, 19 Oct 2009 21:57:59 -0000

WealthBoy... after your own personal experience and the information of Prospers.org... what possessed you to start bidding again on Prosper.com ?!?

I would STRONGLY suggest you read Fred93's blog concerning Prosper. He's been quoted by the SEC for his Prosper.com research. I dont see the default rates slowing down too much even with the marginal improvements Prosper (v3) has done.

http://fred93blog.blogspot....

If I'm not mistaken... under the current Lender's agreement (Prosper v3)... your current loans become worthless when Prosper.com runs out of VC ! it's been heavily discussed on http://www.Prospers.org

Re: Prosper Investing Tips and Testimonial

WealthBoy — Mon, 19 Oct 2009 20:36:35 -0000

That seems about right. My net loss to date is $225.45 and my net
investment was $2,500.

Re: Prosper Investing Tips and Testimonial

ToySoldierman — Mon, 19 Oct 2009 20:16:15 -0000

http://www.ericscc.com/lend...

Portfolio Performance of WealthBoy

EricsCC Estimated ROI¹: -5.49%

Check out http://www.Prospers.org for the latest updates concerning the fiasco of Prosper.com

Re: Prosper Investing Tips and Testimonial

WealthBoy — Sun, 07 Dec 2008 11:16:13 -0000

Things certainly haven't gone as well as I've hoped. It will be interesting to see how things pan out once the secondary market on Prosper opens, if it receives SEC approval. I doubt if anything will come from the class action suit, as anyone (other than the attorneys) ever win anything from these. I (and other Prosper investors) accepted the risk of investing in Prosper and realized that incurring loss was a possibility.

Re: Prosper Investing Tips and Testimonial

Karl — Sat, 06 Dec 2008 22:37:18 -0000

Prosper has been found in violation of SEC regulations and fined $1 million. There is now a class-action lawsuit against Prosper for fraud.
Over 4000 borrowers have "defaulted" on their loans in 2008 and another 2000+ are late. Prosper seems to do nothing to collect. This bloggers ROI is actually .o3% and falling.
Beware of Prosper!!