About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Prosper Update

March 18th, 2007 • Related • Filed Under

On February 22, 2007 I began using Prosper.com as a lending opportunity to pull in great returns and to distribute unused capital to other investment opportunities. It has only been a month and the results have been satisfactory so far.

I made eight loans at $50.00 each with an average annual interest rate of 16.90% to test the system. All loans are current as the (AA-C) borrowers seem to be having no difficulty thus far in paying their debts. Next on the agenda are five more winning bids for loans that are currently in the approval process at an average interest rate of 17.78%.

Initially I set out to only loan to (AA-B) borrowers but decided to lend to C rated candidates if they had a low debt to income ratio and could easily afford to pay down the debt.

We’ll see how everything progresses in the months to follow and so far it has my two thumbs way up.

Good Investing…

There Is 1 Response So Far. »

  1. Comment by ku4a on 19 March 2007:

    LOL. Not even close to enough time has passed to evaluate the quality of your portfolio. Good luck with it, though.