Using Prosper to Diversify in a Down Market

07.07.08 | Online Investing | 0 Comments | by junger

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Everywhere you go, you hear that the stock market is tanking — and analysts are discussing what you should do to keep more of your money.

While my philosophy of index investing says to buy more when stock prices are low, I came across a guy using an additional method to get returns on his money: peer-to-peer lending at Prosper.com.

We've talked a little bit about Prosper before, but if you're new to it, the site allows users to make and borrow loans from other individuals at agreed-upon interest rates.

So if you've got some extra cash, you can bid on loans as part of or as the entire amount that a borrower is looking for. With interest rates as high as 35%, it's an attractive alternative to watching your money tank in the stock market.

Have you considered loaning out money at Prosper? Share your experiences with us in a comment.

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