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AUTHOR
DATE
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21
member
5/17/16 1:08PM
from the 10Q
“Review of related party transactions: […] In addition, in March 2016 the risk committee approved an investment by the Company in Cirrix Capital, L.P. without all committee members being aware of the prior investments by... login to read the rest
When it comes to lending, in the long run, THE differentiators are the COST and STABILITY of funding sources. Banks with strong deposit franchises have been the most consistent lenders through time because they have ultra low cost and... login to read the rest
let me get this straight. So Renaud Laplance and John Mack invested and had ownership in a vehicle that was setup to buy LC loans and this wasn't disclosed. So lets start asking a... login to read the rest
danconia17,
Thank you for the link to the Bloomberg article. We are still long, but took some gains off of the table post LC’s strong run after Q4 2015 earnings, when the shares reached $9+.... login to read the rest
at this point LC is uninvestible. The SEC will begin an investigation and they are going to be firing people left and right. You heard it hear first.
http://www.bloomberg.com/gadfly/articles/2016-05-09/tossed-out-of-the-lendingclub-and-kicking-up-questions
are you still long and strong ? i don't mean to say I told you so but I speak to many of the larger institutional buyers of LC's loans and this is a big... login to read the rest
This morning, LC issued a press release (http://ir.lendingclub.com/file.aspx?IID=4213397&FID=34233669) detailing Q1 2016 earnings and news that CEO Renaud Laplanche has resigned. Shares today closed down ~34%, at $4.66.
Through an internal investigation, it was discovered that there were... login to read the rest
We wanted to thank everyone for reading our write up on LendingClub. We fully expected that there would be a sufficient amount of hate given that this is Value Investors Club after all. However, we... login to read the rest
I disagree with the thesis. There is more downside -- still trades at 7x sales and 30x forward earnings. For what?? This is not a financial technology company, its not even a technology company.... login to read the rest
We spoke with the company and they are getting licenses in all states where they operate - becuse it's relatively inexpensive and cheap to do so. They probably won't need them but they'll have them... login to read the rest
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