Loving Prosper

Wow, I didnt realize it was 3 weeks since I last posted. I need to thank Ben Bernanke again today. My oanda account has been in a lull for a couple of weeks now, stuck in a drawdown. Today's Fed Chairman comments are shrinking that drawdown very nicely. There may be hope yet for a bit of nice profit this month.

One thing that I am paying close attention to, is the news-trading signal services... there is one in particular which looks like it has very good potential. The one problem I have with the news, however, is that it seems to happen very early in the morning (my time) and I am not especially keen on getting up at 4am. But this is definitely a strategy worth watching and maybe pursing at a later date.

I have gotten involved with Prosper and am very happy. I have placed 5 loans and I'm waiting for 2 more which are in "pending review" status.

My overall interest rate is a bit above 20% per year.

I am spending a lot of time looking for the loans I want to bid on and reviewing available information as well as reading discussions by other lenders. I feel pretty confident that I am choosing loans whose borrowers will not default. Of course that risk does exist, which is why I am spreading my portfolio fairly widely.

My intention is to add steadily to my prosper portfolio every month, and reinvest payments, in order to build this up to a substantial part of my investing portfolio.

Hope everyone is having a great summer!