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Forum: Business, Finance, and Investing 07-26-2007, 07:57 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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So did you cancel it because you weren't happy about the rate, or did you cancel it because of the advice here? Make a decision.


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It was a bit of both. I definitely...
Forum: Business, Finance, and Investing 07-08-2007, 04:32 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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A serious question here: How much do you think his credit score dropped because of this i.e. applying for a ton of credit cards and basically maxing them out.

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Each...
Forum: Business, Finance, and Investing 07-08-2007, 02:32 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

Sorry guys, I was a bit out of line the other night. I guess more than anything I am just frustrated with how little i have invested in the market while watching my stocks go up each day and...
Forum: Business, Finance, and Investing 07-07-2007, 02:05 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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I can't even tell if you're joking. I am on the verge of banning you in an effort to protect the forum readers who might believe things you say.

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Well if you want to ban...
Forum: Business, Finance, and Investing 07-07-2007, 01:55 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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The main lesson here is this. I should have trusted myself and my mad stock picking skills over a freaking poker message board.

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Wow man,...
Forum: Business, Finance, and Investing 07-07-2007, 01:50 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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The main lesson here is this. I should have trusted myself and my mad stock picking skills over a freaking poker message board.

[/ QUOTE ]
Wow man, really? I mean, damn,...
Forum: Business, Finance, and Investing 07-07-2007, 01:46 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

Update:

Nintendo stock is up over 8% since I could have gotten the funds for this loan.

I withdrew my loan request at prosper, which means i profited $0.00.

If i had gone threw with my...
Forum: Business, Finance, and Investing 06-20-2007, 06:18 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Isn't the 0% only on purchases? Are you talking about getting 0% cash advances? I'm not sure those exist, and even if they did, there are transaction fees of like 5% or so right off the...
Forum: Business, Finance, and Investing 06-19-2007, 10:36 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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This doesn't sound like a good idea. If you are able to pay back the amount regardless of the returns, you should be investing your own money.

I think missing out...
Forum: Business, Finance, and Investing 06-19-2007, 07:14 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

[ QUOTE ]
This doesn't sound like a good idea. If you are able to pay back the amount regardless of the returns, you should be investing your own money.

I think missing out on placing some...
Forum: Business, Finance, and Investing 06-18-2007, 10:38 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Let me get this straight, you are 28 years old and have "the TJ Cloutier feeling" of what companies will do good, yet you don't have $25K in disposable capital?

If you aren't lying...
Forum: Business, Finance, and Investing 06-17-2007, 09:04 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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I don't want to get too cocky, so I am capping myself at a maximum annual return of 35%, which I actually think is achievable based on my opinion of my stock-picking ability.
...
Forum: Business, Finance, and Investing 06-13-2007, 01:10 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Why don't you try to do this on a smaller, lower-risk level?
One idea is to open a few credit cards with those "Balance transfers and cash advances - 0% for 1 year".
Open...
Forum: Business, Finance, and Investing 06-13-2007, 12:42 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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even the idiots who know nothing on average make money in the stock market.

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Of course there's no way to actually verify this, but I really doubt you're right.
...
Forum: Business, Finance, and Investing 06-13-2007, 12:40 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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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.

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The claim...
Forum: Business, Finance, and Investing 06-13-2007, 12:26 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Shoe, you remind me of most people who want to quit their job to play poker. They think they have it all figured out and have a system. They even have a 'fall-back plan' of 3 months...
Forum: Business, Finance, and Investing 06-13-2007, 12:09 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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...
Forum: Business, Finance, and Investing 06-12-2007, 10:12 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Shoe, I know I disparaged your plan, but I understand that you are going to do it anyway, and I don't think you will be dissuaded in any case.

I am really curious about one of my...
Forum: Business, Finance, and Investing 06-12-2007, 01:11 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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I still don't understand why you would not at least use margin. Do you even know what it is? You're saying you are buying blue chips. If you only borrowed 2/3 of your original amount...
Forum: Business, Finance, and Investing 06-12-2007, 01:06 PM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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I am positive i can get at 20-30% annual return on my money by investing in individual stocks.

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PROP BET??? I'll bet up to 1k or so that you can't get 20% in...
Forum: Business, Finance, and Investing 06-12-2007, 02:23 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Even if my stocks stay stagnent, at a 0% return, I will have $25k in 3 years.
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But you paid $29,893.32 for that 25k.
Forum: Business, Finance, and Investing 06-12-2007, 02:18 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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But I only need a 6% return to break even on my 12% loan. See my original post in this thread. Ok, that is not counting taxes. After taxes, I need an 8-10% return to...
Forum: Business, Finance, and Investing 06-12-2007, 02:16 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

Also, this post is completely seperate from the main topic of this thread. I agree that how I plan to use the funds from this loan is up to debate, and is in no way traditional. However, from a...
Forum: Business, Finance, and Investing 06-12-2007, 02:08 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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Even if my stocks stay stagnent, at a 0% return, I will have $25k in 3 years.

[/ QUOTE ]But you paid $29,893.32 for that 25k.

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If I don't take this loan, I...
Forum: Business, Finance, and Investing 06-12-2007, 01:24 AM
Replies: 150
Views: 507
Posted By Shoe
Re: Taking out a prosper loan to buy stocks

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I agree. I have already made up my mind. I just don't see how it is as possibly as bad as you guys are making it out to be. Maybe I am wrong but time will tell. ...
Showing results 1 to 25 of 37
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