"Double-Down" on late payments???

**New Jersey Guy** · 09-06-2013, 01:00 AM

"I would not engage in back & forth discussions of this type on big soccer days...........when I tend to become more agitated than usual. I will keep my promise."

Dan...I fully understand and love going back-and-forth with you. See ya the next time you're off your medication!

**imported_DanB** · 09-07-2013, 01:00 AM

Core said.............If IRR and return over deposits is irrelevant, then what would you suggest as a metric?

I care not.................I just think that displaying it after each & every post demonstrates a certain lack of class & good taste. But hey, if the posting of unverified numbers passes as fun for you, then great! I will remind myself to pretend to be real impressed in the future.

**core** · 09-07-2013, 01:00 AM

Dan, on a topic-specific forum it is customary to use the sig line to say something about one's current situation as it relates to that particular topic. On a car forum it might include the car models you own. On a pilot board you'd list all the aircraft in which you are type rated or regularly fly. In an MMORPG setting it's common to list all your silly little characters' levels.

Nobody gets bent out of shape about those and I see no reason why this situation should be any different.

It's a game, just like playing the ponies. I know when I'm walking away from the track I always ask my buddy how much he made/lost. At the BJ table that's usually the topic of discussion as well. Riiiiight? Sure it is. I don't ask the bloke at the table to "verify" what he said he won; it's just fun to know.

**TravelingPennies** · 09-07-2013, 01:00 AM

from: core on September 07, 2013, 05:41:57 AM

**AmCap** · 09-07-2013, 01:00 AM

I admire NJGuy for making a go of it with his distressed note / folio-based strategy. I can tell you that it can be profitable if you know what you're doing. I still have concerns about scalability, as well as the lack of predictability in the secondary market's liquidity (put another way, I got burned pretty bad when things slowed to a halt at the beginning of the year).

**Fred** · 09-07-2013, 01:00 AM

from: AmCap on September 07, 2013, 01:13:22 PM

**TravelingPennies** · 09-07-2013, 01:00 AM

"(put another way, I got burned pretty bad when things slowed to a halt at the beginning of the year). "

So did I.
But it was mainly February and March. April picked up, but I was still getting burned by old notes I bought during the winter. May thru August was very good.

**Joe6Luck** · 09-07-2013, 01:00 AM

Quote"> from: New Jersey Guy on September 07, 2013, 03:58:05 PM

**TravelingPennies** · 09-07-2013, 01:00 AM

"What happened in Feb and March?"

It's a question I have no answer to.

Nov. and Dec. were very good.
January was decent.
Feb. and March Tanked.
April, May, June, July, August were excellent.
September is starting out a little slow (but so did August).

I actually didn't do anything different during the first part of the year. What was selling like hotcakes in December became doorstops in February. Nobody was buying.....Period!

So come March, the notes I bought in December and January were really turning rotten. During the last two weeks in March I had to dump this stuff before it went into default, almost all of it at a loss. Still, I ended up with a few defaults the first part of April.

**TravelingPennies** · 09-07-2013, 01:00 AM

This was exactly my experience as well. January I made decent money, then Feb and March were both just so-so. A bit below average. Then April rocked; I made about 3x what I normally do in a month, and just slightly less than that in May. It's been just average for me since then.

As for why Feb/Mar were so bad, I have no clue. I always thought the first quarter months were funky because of new LC investors/traders being surprised by the taxes owed (or the time necessary to calculate everything!), but I really don't know.

Now then. Dare I taunt the man in the rubber room? Yes I think I will:

 from: DanB on September 07, 2013, 06:42:22 AM

**TravelingPennies** · 09-07-2013, 01:00 AM

from: New Jersey Guy on September 07, 2013, 05:14:23 PM

**TravelingPennies** · 09-07-2013, 01:00 AM

from: Fred on September 07, 2013, 06:45:37 PM

**TravelingPennies** · 09-07-2013, 01:00 AM

"Buy high, sell low?"

Actually it was more like Buy Low, Sell near zero.

**TravelingPennies** · 09-07-2013, 01:00 AM

Core...........True "pros" haven't really used card counting as their main strategy for about 15 years now.
I am certain that there are many things you can teach me..............From your comment, blackjack doesn't appear to be one of them. I was on a blackjack team full time for 3 summers, led by one of the guys who pretty much wrote the book on team strategy & even back then "card counting" was akin to tying your shoe laces in simplicity. No, it wasn't like the movie "21" either.

**TravelingPennies** · 09-07-2013, 01:00 AM

Assuming you're not using an electronic device to track individual cards (which is still "counting&quot

, then the only thing a team would be for, besides counting + big bettor, is outright cheating. Hole card peeking, mucking, marking, etc. There is no other way to make money at BJ legally. Such things seem beneath you and I doubt you'd be stupid enough to admit employing such tactics on a public forum.

Now I know, you're going to come back with some vague response saying I just don't know the secret. Yeah yeah. Math doesn't lie. There is no "secret".

**imported_DanB** · 09-07-2013, 01:00 AM

Quote"> from: core on September 07, 2013, 08:35:45 PM

**core** · 09-07-2013, 01:00 AM

from: DanB on September 07, 2013, 09:33:26 PM

**New Jersey Guy** · 09-07-2013, 01:00 AM

Man Oh Man!

Porno King.
World Class Gambler.
A real James Bond Type and wealthy playboy.

Dan...You must be the man because you said so. A legend in your own mind.
Now I'm beginning to understand why Peter doesn't want you posting on the forum.

**TravelingPennies** · 09-07-2013, 01:00 AM

from: New Jersey Guy on September 07, 2013, 11:06:07 PM

**TravelingPennies** · 09-08-2013, 01:00 AM

In defense of Dan (at the risk of a coronary), I believe almost every word he has written and he probably hasn't unduly exaggerated. I haven't been a p0rn producer but otherwise I think we have shared similar career experiences just from what I have read from him. It seems once you start down a path it attracts all kinds of similar (slimy) endeavours. And let me tell you, it ain't no picnic. A lot of it only sounds fun or funny once somebody else starts telling the stories from years past. One obviously tends to leave out the bad parts of the stories as time goes on, making things sound better than they really were. Now maybe Dan's got a way of expressing himself which isn't agreeable to some. That I can see.

I think Dan is hands-down the most entertaining one of the bunch here, and I sure hope he continues to post. Even if he isn't allowed to do so on the nights that pro wrestling is on or whatever.

**imported_Peter** · 09-08-2013, 01:00 AM

from: New Jersey Guy on September 07, 2013, 11:06:07 PM

**AmCap** · 09-08-2013, 01:00 AM

Quote

**PennySaved** · 09-08-2013, 01:00 AM

Quote"> from: New Jersey Guy on September 06, 2013, 09:11:50 PM

**TravelingPennies** · 09-08-2013, 01:00 AM

from: DanB on September 07, 2013, 11:45:15 PM

**TravelingPennies** · 09-08-2013, 01:00 AM

"That's why I read this Forum daily- to learn new things and to keep up with the latest. And to be entertained sometimes."

Same here.
A lot of the things I know now were things I had no clue about. A few of the things are all the financial acronyms. I remember having to Google things like IRR to figure out what people were talking about.

When I was young, I always followed a simple rule, and a rule I still follow even at 54:
Never associate with losers. Always associate with people who are at least your equal or better than you.
That's how you learn!

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