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According to the poll conducted with the readers of Personal Loan Portfolio, I am investing my next $500 with Lending Club. Lending Club won 64% of the votes (28 votes), a clear majority versus Prosper.com’s 18 percent (8 votes). Despite, my original conclusions that Lending Club is an inferior investment to the S&P 500, only six votes (including one of my own) selected the S&P 500. And Zopa was even further behind in the voting with only 2 votes. As an aside, I must report that I had one Harvard Business School voter who voted for Lending Club.

Update: Can Lending Club can beat the S&P 500 with this “Thank You” bonus?

Poll results: Read the rest of this entry »

In honor of Prosper.com’s post mentioning the wisdom of crowds, I have decided to allow the readers of Personal Loan Portfolio to decide where I invest my next $500*. The poll is listed below…

Update: People’s Choice Poll Results and Analysis Posted.

Should I invest my next $500 in P2P loans at Prosper.com, Lending Club, or Zopa or skip P2P lending all together and invest in Read the rest of this entry »

I have read several articles on Prosper lending and other P2P lending sites that have made me interested in boosting my returns in an alternative to investing in the stock market. I have decided to try a few loans with Prosper.com and am currently working on my strategy. I have been earning terrible returns on my cash for years now in a money market account so it will not hurt to wait a few days while I formulate my lending strategy. Read the rest of this entry »