Yup. Finding it impossible to get any loans recently. Surely no one can consistently log in and claim all available notes within seconds each and every time a loan is listed. Definitely some automation still out there
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Yup. Finding it impossible to get any loans recently. Surely no one can consistently log in and claim all available notes within seconds each and every time a loan is listed. Definitely some automation still out there
I think I know what's happening now. Randomly logged in at 3:18pm and there was a $3250 B1 loan listed!*
The notification email didn't come in until 3:29pm! So I guess the emails are broken for at least some investors. I would be interested to hear if anyone else got this email any earlier or later than this?
*even without the notification email, the loan still filled up within 1 minute :ohmy:
Arrived in my inbox @ 3:22pm... (gmail)
Thanks myles and Saamee. I have sent an email to LC support detailing the issue.
Btw, i am using Gmail
I haven't done statistical analysis but I would treat B2 as a Harmoney c1-c3.
Although a recesssion is not a certainty I would say international and local conditions are not as rosy as they once were, so the business cycle is maturing.
Risk tolerance and ability to absorb capital write-offs may also depend on your tax circumstances (whether or not you can claim deductions for capital write-offs). On that basis it may effect retail investors willingness to undertake greater risk.
So in the next recession, if you are able to deduct loan write-offs that could make a material difference to your net returns.
I use Google G Suite (business Gmail). The LC emails arrive within a minute of being sent. This is typical for a good email service as it's not checking every second.
I have an automated sequence that logs me in quite quickly.
Occasionally I'll be very early to get into a B1 and the majority is still remaining to be invested.
It's virtually impossible to get into a B2 of around $3k or less - it seems someone is using automation and taking big chunks, possibly $2000 for the first bite then repeating the order with a few hundred dollars and so on until they have all or the majority of the loan. I've seen loans drop several thousand at a time (I've watched loans by continually refreshing the page to see how quickly they disappear)
If I was going to do it, I would simply poll the page every 30-60 seconds and watch for changes then automatically take the order. To ensure I got all the loan, I'd probably run several parallel accounts all using some kind of scraper, just to reduce the suspiciousness of one account always getting the majority of a loan.
Having said that, I really don't think LC cares at all that someone is using software. They just want to fill the loan. Until they get to a point where there are more loans than investors and some loans don't get filled because people are frustrated with the system, there's no reason for them to change this.
Android - it's simple. I saved a shortcut to the phone's screen with the password saved in Chrome. I click the icon which opens the website in Chrome and fills in the username and password automatically, click sign in, click loan listings. It takes less than 5 seconds. On Windows, I have a shortcut in the browser bar - same deal and no need for anything more complex.