Peer to peer lending

[malmo]

Why would anyone with at least reasonable credit take out a loan at an average 26.4 %?

They wouldn't.

That's not the point. Banks make money off of credit cards for a reason. If you are going to loan money to 760+ FICO's there's no risk of default but there's also no margin in that.

You could make all of your loans to 760+ and get 7% return. But that's dumb. There are much better investments that will yoeld more than 7%.

[malmo]

malmo

I know you have a nice collection of finance books. I've been looking for a good book on history of banking upto modern day ( nothing overly technical ) to get a better insight. Have you come across such ?

If so, could you kindly post an Amazon link

And while he's at it, would you like him to fetch you a beer?

Sure, why not?

[malmo]

very interesting business concept...

Yes, the concept is interesting. Just wondering if the reality matches the concept?


http://articles.moneycentral.msn.com/Sa ... Loans.aspx

[MJD]

I'll have to check that video out when I am on a better computer(this one won't cut it).

[tandfman]

i have trawled thru amazon in the past & it got very time consuming & i didn't really find what i was looking for

When I have either a title or an author, I've never had any trouble finding the book on Amazon.com.

But there's another issue here. Amazon's US and UK web sites are different. If malmo had given you a link to the Amazon listing of a particular book, it presumably would have been to the listing on the US site, since he's US based. I believe the same book would have a different URL on the UK site. So unless you had some special reason for wanting to pay the cost of shipping a book from the US that you could buy in the UK, whatever malmo might provide would not be what you need.

[eldrick]

tandy

for some odd reason, most of the best finance books appear to be written by americans ( i've got a few british ones, but they really aren't in the same class ( mostly written by guys who did well in business initially, but who's businesses petered out later on )) - i wish now, i hadn't wasted money on them

americans have good finance books not only written by traders, but by respected academicians as well for those of us who sometimes just want a nice, leisurely, "layman's" read about things like currency, gold, oil, diamonds, etc

it maybe just that british publishers don't perceive much demand for such books amongst the public & don't encourage the authors to submit such manuscripts ( publishers though seem to go into a frenzy if you have anything that resembles harry potter or bridget jones' diary :!: :?: )

if i had got a link to a suitable book, it almost certainly woud have been by an american author & definitely on amazon.com, & it woud have been left to me to see if it was available thru amazon.co.uk ( the uk site is usually very good for obtaining american books )

[MJD]

it maybe just that british publishers don't perceive much demand for such books amongst the public & don't encourage the authors to submit such manuscripts ( publishers though seem to go into a frenzy if you have anything that resembles harry potter or bridget jones' diary :!: :?: )

Good thing for this guy!

http://www.chbooks.com/content/?q=the_g ... sold_in_uk

[gh]

Why is I get the feeling that this will turn out more like pier-to-pier lending, as in, "Boy do I have a bridge for you!" ?

[malmo]

Why is I get the feeling that this will turn out more like pier-to-pier lending, as in, "Boy do I have a bridge for you!" ?

It's not much different than the current brick and mortar model, except this model allows investors to make the lending decisions themselves.

Remember the good ole' days when banks weren't permitted to broker anything but CDs? Don't you just long for the day when that inefficient brokerage model returns? How about this? "Scottrade, only $150 per trade, any trade."

I'm getting nostalgic.

[gh]

Allow me to admit that I have been making no attempt to follow the actual substance of this thread.... I just knew a good opening for a ghastly pun when I saw one.

[lonewolf]

I learned long ago that loaning money to my peers is a no-no. Inevitably you lose both money and friends

[guru]

I learned long ago that loaning money to my peers is a no-no. Inevitably you lose both money and friends

And of course if they are indeed your peer, they don't need your money in the first place.

[lonewolf]

I learned long ago that loaning money to my peers is a no-no. Inevitably you lose both money and friends

And of course if they are indeed your peer, they don't need your money in the first place.

Well, no, sometimes my peers actually need the money but so do I. It is just that one of us is going to be angry and I would rather have them angry at me for not loaning them money than be angry at them for not paying me back.

[gh]

The only sage advice my mother ever pounded into me:

"neither a borrower nor a lender be"

[malmo]

The only sage advice my mother ever pounded into me:

"neither a borrower nor a lender be"

Unless she banks at First Mattress National she doesn't follow her own sage advice.

No one is extricated from the borrower/lender model that is steeped into every aspect of modern life.