Taking out a prosper loan to buy stocks - Page 3

Chrisman886 · #21 06-12-2007, 12:57 AM

Ummm ... am I missing something here? If you're this desperate why don't you just go on margin? The worst rate out there is probably 10% and you can get probably around 8%. This is a terrible idea IMO.

Shoe · #22 06-12-2007, 12:57 AM

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I definitely agree this loan is "thinking outside the box"

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Dude, seriously what the hell are you talking about?

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But please provide me with some calculations on how much I would actually be losing out on. I don't think it would be more than 2-3k over 3 years maximum on average. And that is worst case scenario.

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Again, I have no idea what you're talking about, but if you think losing 2-3k is the worst case scenario here you might actually know less than I was giving you credit for.

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I'm talking about worst case scenario on average. I could always run bad and lose more.

LegallyBlind · #23 06-12-2007, 01:06 AM

worst case scenario on average. that is a new one for me.

im not going to spend much time in my response since it sounds like you already made up your mind. So ill just agree with others that this is a horrible horrible idea.

Shoe · #24 06-12-2007, 01:09 AM

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. If I anyone is interested I will keep you updated.

Evan · #25 06-12-2007, 01:14 AM

Shoe,

"I'm talking about worst case scenario on average."

This is like Who's On First via message board.

"I just don't see how it is as possibly as bad as you guys are making it out to be."

Have you considered the possiblity that everyone who posted in this thread isn't wrong?

Jeffmet3 · #26 06-12-2007, 01:18 AM

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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. If I anyone is interested I will keep you updated.

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i feel bad for people loaning you money on prosper.

You have to beat 12% after taxes to make money.

all forecasts for the domestic market are [censored], and most of the world economies are looking a bit overpriced now as well.

you might get lucky, but this is a terrible idea.

Jeff W · #27 06-12-2007, 01:20 AM

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the rate of the loan is 12% per annum correct? then don't you have earn at least 12% per annum returns from the market to turn a profit? am i missing something here or are your numbers way off?

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You have to make way more than 12% because your gains are taxed.

P.S. This is probably the worst idea I've ever seen on this forum.

Shoe · #28 06-12-2007, 01:21 AM

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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. If I anyone is interested I will keep you updated.

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i feel bad for people loaning you money on prosper.

You have to beat 12% after taxes to make money.

all forecasts for the domestic market are [censored], and most of the world economies are looking a bit overpriced now as well.

you might get lucky, but this is a terrible idea.

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so does that mean my investment in nintendo (NTDOY) blows? Time will tell. good luck to you too.

Evan · #29 06-12-2007, 01:22 AM

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the rate of the loan is 12% per annum correct? then don't you have earn at least 12% per annum returns from the market to turn a profit? am i missing something here or are your numbers way off?

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You have to make way more than 12% because your gains are taxed.

P.S. This is probably the worst idea I've ever seen on this forum.

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Can someone explain to me how the hell he's raised $15,500 on prosper already?

Shoe · #30 06-12-2007, 01:24 AM

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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. If I anyone is interested I will keep you updated.

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i feel bad for people loaning you money on prosper.

You have to beat 12% after taxes to make money.

all forecasts for the domestic market are [censored], and most of the world economies are looking a bit overpriced now as well.

you might get lucky, but this is a terrible idea.

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so does that mean my investment in nintendo (NTDOY) blows? Time will tell. good luck to you too.

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And if you feel bad fo the people loaning me money on prosper, then you are the sucker, as I am going to pay back the money no matter how my stocks perform. I take great pride on my credit rating, and this is as close as you can possibly get to a guaranteed 12-13% return on your money.