13 Comments
 

You can fool around with fixed income through lendingclub or prosper. I wouldn't call it an "occupation" per se, and I certainly wouldn't day trade- shit's garbage. Going to the casino and letting it ride on the roulette wheel would be a better use of your time and money than that shit imo

GBS
 
GoldmanBallSachsYou can fool around with fixed income through lendingclub or prosper. I wouldn't call it an "occupation" per se, and I certainly wouldn't day trade- shit's garbage. Going to the casino and letting it ride on the roulette wheel would be a better use of your time and money than that shit imo

My friend told me it's extremely risky. He made 6 loans before realizing it would be a disaster. He only had two loans to pay back in full. 2 others got their loan discharged in bankruptcy a few months after getting his money; 2 others stopped paying and as a micro-lender, you don't have any ability to pursue them. Overall he lost $25-$50 and it was a small price to pay for the lesson of don't do it.

 
Best Response
Misanthropology
GoldmanBallSachsYou can fool around with fixed income through lendingclub or prosper. I wouldn't call it an "occupation" per se, and I certainly wouldn't day trade- shit's garbage. Going to the casino and letting it ride on the roulette wheel would be a better use of your time and money than that shit imo

My friend told me it's extremely risky. He made 6 loans before realizing it would be a disaster. He only had two loans to pay back in full. 2 others got their loan discharged in bankruptcy a few months after getting his money; 2 others stopped paying and as a micro-lender, you don't have any ability to pursue them. Overall he lost $25-$50 and it was a small price to pay for the lesson of don't do it.

I know some ppl here formed a CDO of sorts through it, and it did pretty well. Perhaps your friend just didn't diversify well. Regardless, I wouldn't fuck with it either, lol. Probably b4 the stock market though, but again this is all imo.

GBS
 

We outsource so IT strategy stuff to people who work at home. Tangential to finance but pays alright I think.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

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