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My Thoughts on Bitcoin and Sharing my Cryptocurrency Portfolio

Bitcoin is the financial phenomenon of the year, here are my thoughts as well as a breakdown of my holdings

December 14, 2017 By Peter Renton 18 Comments

Views: 202

Every quarter we get together with three other families for a dinner party. While all professionals no one is in the finance space except for me. But at our last gathering this past Sunday night the conversation turned to bitcoin. In the last month or two bitcoin has made the jump from esoteric financial instrument into a dinner party discussion subject.

We first covered bitcoin in a two part series on marketplace lending with bitcoin three years ago. It provides a good primer to what bitcoin is, the definition of a blockchain and how it works for lending.

Back in late 2014 bitcoin was nothing more than a curiousity – you could barely even call it part of finance – it was a strange hobby that a few tech people were engaged in. Today, bitcoin is making an appearance regularly on the front page of the Wall Street Journal as its meteoric rise has captured the imagination of the general public.

Depending on the day (or the hour) bitcoin has a market cap of around $300 billion which is close to the value of Bank of America, one of the top 10 largest companies in the United States. According to Coinbase, the largest bitcoin exchange in the world, the price of bitcoin is up over 2,000% in the last 12 months and that is why everybody is talking about.

We have read articles about someone buying two pizzas for 10,000 bitcoins back in 2010 (around $170 million in today’s value) or another person throwing away 7,500 bitcoins. There are now bitcoin billionaires and many other stories of people who have become insanely rich because they got into bitcoin early. This is what captures the imagination of the public. If only we had invested just a few hundred dollars back in 2011 or 2012.

The Rise of Cryptocurrencies

[Read more…]

Filed Under: Peer to Peer Lending Tagged With: Bitcoin, Blockchain, ethereum, litecoin, portfolios, ripple

Views: 202

Creating Portfolios on Prosper

November 26, 2012 By Peter Renton 1 Comment

Views: 925

One of the nice features on Lending Club is the ability to assign notes to different portfolios. This way you can group notes with the same investment criteria together and see how they perform over time.

There are a couple of third party tools that allow Lending Club investors to analyze their portfolios. I wrote about the Nickel Steamroller Portfolio Analysis tool when it was released in December last year and I continue to use it regularly. Now sites like Interest Radar not only give you a detailed portfolio breakdown but also can monitor the notes in your portfolio for you. Suffice it say that many investors on Lending Club use portfolios as an important part of their investment strategy.

But what about Prosper? They do not allow investors to allocate notes to a portfolio – that concept doesn’t exist on Prosper. So, how does a Prosper investor setup de facto portfolios?

While it is not as elegant as Lending Club it is actually quite easy to implement a pseudo portfolio system. To do this, though, we can’t just rely on the Prosper website; we need to use the third party statistics site Prosper Stats (see my recent Prosper Stats review) as well.

Use Different Note Amounts

Here is how I have setup my “portfolios” on Prosper. First, I should share that I have four different loan filters that I have setup with Automated Quick Invest and I would like to group these notes into four portfolios. I differentiate between these filters by using a different investment amount per note. It is that simple. I use $50, $60, $75 or $100 note sizes and I have also used $25 and $30 in the past.

I can track these portfolios quite easily in Prosper Stats. And I can compare my different strategies to see how they are performing. To do this you just enter your screen name into Prosper Stats and then the note size as you can see in the above screenshot. This will provide an estimated ROI on your portfolio that you can track over time.

What About People Who Want to Stick with $25 Notes

I am always talking about diversification and I wouldn’t want investors to move to $50 notes when they really want to invest $25 per note. One of the advantages of Prosper over Lending Club is that you can invest any amount of $25 or more in a note. So, if you want to maintain full diversification and you have, say, three different filters you would like to track then invest $25, $26 and $27 for each filter.

Here is a bonus tip for you on this. When you register at Prosper Stats you can save your searches. This includes those searches where your own screen name is part of the search criteria. What I have done is setup my Saved Searches on Prosper Stats to match the same name as my Automated Quick Invest searches – this provides some consistency that makes it easier to keep track of my Prosper portfolios.

What do you think Prosper investors? Is tracking portfolios important to you? I am interested to hear your comments.

Filed Under: Peer to Peer Lending Tagged With: portfolios, Prosper, Prosper stats

Views: 925

Nickel Steamroller Rolls Out a Portfolio Analysis Tool for Lending Club Investors

December 14, 2011 By Peter Renton 12 Comments

Views: 140

When you invest with Lending Club you can assign each investment to a portfolio. This is a great way for p2p investors to keep track of their investments. While Lending Club does provide some analysis capabilities of your portfolios there is no way to compare their ROI.

That is no longer a problem. Earlier this week popular third party statistics site, Nickel Steamroller, rolled out a new feature in their analysis tool. For some time now investors have been able to upload their Lending Club portfolio to Nickel Steamroller and see their estimated ROI. Below is a screen shot of the breakdown of my IRA account that I uploaded the morning.

Lending Club p2p lending estimated ROI from Nickel Steamroller

I have found this tool useful because it discounts late loans (using the same formula that Lendstats uses) and gives a more accurate picture of what your expected ROI will be going forward. It is particularly useful for newer accounts where loans will not have had enough time to default (a loan cannot default until it is at least 120 days past due). [Read more…]

Filed Under: Investing/Lending Tagged With: investing, Lending Club, portfolios

Views: 140

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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