Normally my Propser account isn’t worth mentioning. I only have four loans at $200. I made a principal investment of $175 and the final $25 is interest that I earned on the initial loans.
Usually I get about $1.50 on the principal paid back on one of my loans, but recently after Christmas, I noticed that he paid me twice, and the second payment was for about $8.00 of principal. I figure that he must have used some gift money to make that additional payment.
I’m happy about this because for another $10, I can make a loan with the cash in my account at Prosper. It’s $50 minimum to bid on a loan and pretty soon I’ll have that cash available. Lately the FOMC has lowered rates (TWICE!) to jumpstart our economy during this recession, but it bums me out. I really want to make a better average return on my investments this year. Last year was terribly disappointing so I’m thinking of putting a little more into Prosper this year. Longer term CD’s have crappy rates at the moment, so I think it’ll be fun to put some more into Prosper.
I’m also looking to buy some dividend stocks as well. Of course, I have this crazy idea that I might buy some BRKB shares too with my 401k rollover money. heh. For those of you who don’t know, these are the cheap shares of Berkshire Hathaway. Full price BRKA shares are crazy expensive.
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Since when are we in a recession?
saladdin
We probably aren’t in a recession, but we might be. There was a net loss of jobs in January, not a lot, but it could be a sign.
That’s the problem with modern recessions. By the time you know for sure you’re in one, you’re already out of it.
Thanks Andrew for explaining the problem of recession. Saladin, we won’t know for another year or two and the economic analysts decide we are in one. I’m going to guess though that we are. Two Fed rate cuts in 9 days is pretty bad, but I hear there are a flood of refi’s taking place now. Hopefully the subprime mess will improve.