Comments on: Investment Recommendations For Friends

By: RRSPs for Younger Investors

RRSPs for Younger Investors — Thu, 17 Apr 2008 09:01:46 +0000

[...] Please note that I am not a financial advisor so it’s important to do your own due diligence (sorry Mr. Cheap). [...]

By: Friends and Money |

Friends and Money | — Fri, 28 Mar 2008 13:39:06 +0000

[...] Investment Recommendations for Friends at Quest for Four Pillars [...]

By: Running the Numbers

Running the Numbers — Thu, 27 Mar 2008 09:29:33 +0000

[...] it then finish with “of course, do your own due diligence before buying”. As I’ve written before, it always feels like such a cop-out. Often books which specifically claim to help you learn how to [...]

By: Information and Sign Up For Prosper Here | Quest For Four Pillars

Information and Sign Up For Prosper Here | Quest For Four Pillars — Sat, 05 Jan 2008 03:46:58 +0000

[...] Just wanted to point out our new Prosper ad on the side bar. You can read what Mr. Cheap wrote about Prosper here and here. [...]

By: Mr. Cheap

Mr. Cheap — Thu, 20 Dec 2007 23:40:45 +0000

Telly & Mike: B+ would be a good policy. We got a loan at 8.5%, we tried to loan out to C+s who are paying 16%+. I got greedy and ventured into some D’s that looked good. We avoided people with bankruptcies or with delinquent payments (but that didn’t help much).

By: FourPillars

FourPillars — Wed, 19 Dec 2007 15:54:14 +0000

Interesting comment Telly – I didn’t catch the part where they borrowed from Prosper as well as lending to…seems a bit odd.

Mike

By: telly

telly — Wed, 19 Dec 2007 15:11:20 +0000

The timing of this post was rather funny. Friday night I had dinner with friends from the US and my one friend was telling me about his (very) recent experiences with Prosper. I wonder how bad his “post Christmas crash” experience will be. Still, I’m curious.

What kind of interest rates did you PAY on Prosper? That’s the part that kind of confuses me. Couldn’t you find a better rate somewhere else rather than using Prosper to borrow?

Also, what types of credit ratings did you loan to? I would think if I ever lended on Prosper I would stick to B or better credit ratings but they definitely aren’t sure things either.

I have a strange addiction to reading proposals on Prosper. I’m constantly floored at how idiotic people can be when it comes to credit. So many of these people are looking for money to help pay off high interest debt on numerous credit cards but rarely mention their plans to stop using those cards once the debt is paid off. Many of them are likely shopping addicts.

By: moneygardener

moneygardener — Tue, 18 Dec 2007 03:48:02 +0000

Wow I feel for you and your friend with the MaMu deal….

The disclaimers are necessary but obviously there will still always be those who get lazy and trust us crazy bloggers opinions…

By: FourPillars

FourPillars — Tue, 18 Dec 2007 01:04:09 +0000

Very true Guinness, our commenters (including you) are a “cut above” in my opinion.

By: guinness416

guinness416 — Mon, 17 Dec 2007 21:18:59 +0000

I think there might be a difference between blogs like this one which attract people with a bit of common sense (and me) and some of the high-traffic US moneyblogs, which walk a line between advice site and personal blog, and sometimes seem to attract some awfully naive sounding commenters. I would probably want a disclaimer if I was the top google result for “save $10,000″ or something.