Has anyone seen Prosper.com? I was looking at it and it looks like a good way to get a decent percentage rate. My only problem is that, if this was such a good idea, why isn't it more prevalent?
They have a diversification program which allows you to spread out your capital over hundreds of borrowers with credit ratings according to what risk level you are willing to accept. According to them, if you choose a diversification with a rate of 12%, you will have over a 97% chance that your overall return will be greater than 7% and a virtually 0% chance of not having any return.
It sounds like a good idea, and I know everything has risk. I'm just wondering if anyone else has heard of this or used a program like this and how successful it is.
Thanks!
They have a diversification program which allows you to spread out your capital over hundreds of borrowers with credit ratings according to what risk level you are willing to accept. According to them, if you choose a diversification with a rate of 12%, you will have over a 97% chance that your overall return will be greater than 7% and a virtually 0% chance of not having any return.
It sounds like a good idea, and I know everything has risk. I'm just wondering if anyone else has heard of this or used a program like this and how successful it is.
Thanks!