[Shoe]

I'm having a lot of trouble with 2+2 right now, but just wanted to say thanks for all of the replies. I sitll think I am going to go through with the loan but am thinking of cancelling it and re-listing for a smaller amount where I will get a lower interest rate. I was expecting the loan to be fully-funded by now and the interest rate dropping. I think I could get a 15-18k loan funded at prosper for closer to 10%.

I'm also considering if I can get the funds from elsewhere. I have a couple life insurance policies I could cash in and add to my account, and then take the rest out on margin (which is 10% at my broker for balances less than 25k). I'm leaning towards that as the margin interest is tax deductible where as the prosper interest is not. I don't need the life insurance as I don't have any dependents, and I have been unhappy with the gains in those policies for several years now.

A couple other points: For those who think investing in the stock market is just willfully throwing away your money, I think you are dead wrong.

My breaking even with a 6% return vs. the 12% loan thing. I understand opportunity cost and know I would be coming out behind with that factored in. However, I do not think I would stay committed to saving each and every month without getting my money in there as a lump sum. I would save for several months in a row but would probably get side-tracked for a few months at a time in the process. But your point is well-taken.

Prop bet. I will not accept any bets without being offered odds. Just because I am confident in my ability does not mean I think a 1:1 bet is smart. I also do not know of a trustworthy source (that both parties could agree on) to keep our money tied up in for over a year and still have enough confidence that I would get paid. we might as well just drop the idea of betting. Sorry if I led anyone on.

For the guy who compares making money in the stock market to denying the holocaust ever happened, I don't see how you can even draw a comparison, yet I am supposed to believe that I am the illogical one.

DC -- thank you for your post, I consider you to be one of the most respected posters in this forum and will definitely be re-thinking your post and analyzing it more closely tonight.

To those who think people on prosper are idiots for funding me -- whether or not you agree with my loan anyone who gets a piece of me a 13% is getting a great bargain, as I will not default no matter how my stocks do.

Others, thank you for your comments as well. I'm going to try to go back and answer any outstanding questions and review all the posts again. I got kind of lost with the flood of responses and the 2+2 connectivity issues tonight. Lots of great posts that I need to spend some more time taking a look at.

Also, I definitely to not have the investing "plan" down as good as I should. I am picking stocks mainly on feel here and although I do review the annual reports I am not doing any heavy analysis. I definitly have more work to do. One thing is for sure though, I spend several hours a day reading articles trying to do research at the various finance sites on the internet. Maybe i'm wasting my time but I am working on learning and becoming a better investor. The tips from those more experience than I am in this thread are appreciated, despite the tone of some of my posts in this thread. Thank you again for those who have taken the time to share their knowledge.