Cutting Out the Banks | P2P Lending, Peer to Peer Lending, People to People Lending

Recently I was interviewed and featured heavily in an online magazine initial publication: NuWire Investor. NuWire focuses on alternative investments. This interview happened during a very brief manual bidding experiment (less than 2 weeks). I am back to nothing but standing orders.

Prosper has the advantage of independence from the stock market, “so even if it can’t blow the doors off returns that you might see hyped up about it, if it can return 10–12 percent and be orthogonal to the stock market, I think that alone is enough of a reason to invest in it,” Gillett said. Prosper is creating a “completely different asset class,” he said.

The time remaining criteria would allow my standing order to basically act as I’m acting in a manual bid, which is to say, watching the interest rates, watching the loans, and then when the loan gets within 30 minutes of the end of its auction, then to have the standing order fire,” Gillett said. Such a system “is absolutely necessary if you’re going to be a standing order bidder these days,” he said.

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