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Jaroo
The Blue Pig Ltd
0
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Posted - 2013.03.15 16:29:00 -
[1] - Quote
Hello MD,
I am looking to borrow 5 billion ISK for one month at 15%+ return.
About me
I played Eve for a while back in 2009 before having a long break. I have recently re-subbed. After trying various professions I have finally settled on station trading. I have spent considerable time grinding up base standings to 7 with Caldari faction and 9 with Caldari Navy. I have 6 days left on Accounting V and will then train broker relations from IV to V.
February was my first full month of trading and I made 700million ISK in profit. This month I am already at 1.5billion ISK in profit and on target for 3 billion. My total trading stock at cost + ISK is currently 4.2 billion. I also have a mission fit Navy Raven with an approximate value of 1 billion. Therefore total NAV is 5.2billion.
I believe my current market strategy can easily be increased to trade 10billion+ ISK at the same level of profitability and minimal effort.
The proposal
My proposal is to pay out 40% of my profits over one month attributable to the loan capital.
I will keep the remaining 60% for my time and effort. I will pay a minimum return on your investment of 15% regardless of my success.
I recognise profit on the sale of an item and carry forward stock at the cost I paid for it.
The loan will be consolidated with my current trading funds. I will calculate the profit attributable to the loan as follows:-
Example (figures for illustrative purposes only)
At the start of the month:-
Starting stock at cost - 3 billion
My ISK (wallet + escrow) - 2 billion
Loan ISK- 5 billion
Total Capital- 10 billion
Loan capital - 50%
At the end of the month:-
Closing stock at cost - 15 billion
ISK (wallet + escrow) - 5 billion
Total Capital - 20 billion
Less total starting capital -(10 billion)
Profit - 10 Billion
Profit attributable to loan capital (50%) - 5 billion
40% paid out to investors - 2 billion
I anticipate the return to investors will be higher than the minimum 15%. I track all my market transactions on my own spreadsheets.
Risk
With no history this would be considered high risk. This why I have offered a good return and the potential for a higher return.
- My basic info including wallet balance can be seen here http://eveboard.com/pilot/Jaroo
- I would be willing to provide full API access to a trusted individual
-I will not be leaving station for the duration of the investment
-As I will be station bound I can offer my fitted mission Raven Navy Issue as collateral.
Approximate value of 1billion ISK (see the one I lost last month for fitting!) http://eve-kill.net/?a=kill_detail&kll_id=16589268
I plan to start as soon as I raise the ISK and will provide weekly updates of my total capital.
Capital plus interest will be paid out one calendar month after commencement.
Thanks
Jaroo
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Jaroo
The Blue Pig Ltd
0
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Posted - 2013.03.15 16:58:00 -
[2] - Quote
If I don't get any interest then I will do just that. However, if I do it will help speed things up for me.
I have offered some collateral - although admittedly it's pretty low at 20%. |
Jaroo
The Blue Pig Ltd
0
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Posted - 2013.03.15 21:35:00 -
[3] - Quote
Confirming Lux Imperator has offered the full amount so the loan is now filled.
I look forward to making us both a good return on your investment.
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Jaroo
The Blue Pig Ltd
0
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Posted - 2013.03.16 17:20:00 -
[4] - Quote
Confirming receipt of 5 billion ISK. Loan will run until 16 April when the full amount of capital + interest will be paid back.
My trading starting capital - 4,471,768,385
Loan - 5,000,000,000
Total Capital -9,471,768,385
Percentage of profits attributable to loan capital 52.79%.
Raven had rigs plus 500million of fittings. I agree I could have sold the fittings individually and bought back at the end of the month, plus tried to contract the raven + rigs and just asked for a 4 billion uncollateralised loan, but it would have been a pain.
I appreciate the trust lux impersonator has put in me and will not let him down.
Will update progress next weekend. |
Jaroo
The Blue Pig Ltd
1
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Posted - 2013.03.17 00:06:00 -
[5] - Quote
Hmmm I wasn't going to post again until next week, but as I have just got back from the pub and I'm a little bit drunk you have pulled me into replying to the comments.
First a screenshot of the contract http://imageshack.us/photo/my-images/339/20130316235232.jpg/ couldn't actually fit all the fittings in the screenshot.... but it covers most of it.
Second to the rep grinding question.... I really am quite a casual player and do not believe I could manage to trade more than 10billion ISK any time soon (in fact this will be quite a test for me just to see if I can scale it up from my current trading).
I will not be asking for any more larger loans than this in the future..... in fact I would go as far as to say that any of you are free to link back to this comment if I ever try to borrow more.
I'm really hoping I will be in the position to lend out my ISK next time round.
night all,
Jaroo |
Jaroo
The Blue Pig Ltd
1
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Posted - 2013.03.17 11:09:00 -
[6] - Quote
Mu-Shi Ai wrote:I don't have feelings either way on collateralized or non-collateralized bonds. Rather, i take exception to the notion that a higher-than-average, unconditional return of 15% somehow mitigates the non-collateralized nature of the offering. A person who offers a 3% return can scam just as easily as someone who offers a 15% return. That has no bearing on the extent to which this may or may not be a scam.
It doesn't mitigate any of the risk. It's a higher return because of the risk. Same as a real life loan really. |
Jaroo
The Blue Pig Ltd
2
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Posted - 2013.03.17 20:17:00 -
[7] - Quote
I have a quick question as I don't use contracts very often. Wouldn't i have to pay broker fees and tax? This is why I had put it to zero. |
Jaroo
The Blue Pig Ltd
2
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Posted - 2013.03.23 08:50:00 -
[8] - Quote
Just a quick update as I agreed to provide weekly reports.
My total capital (ISK + stock at cost) as of right now is 11,785,960,541.
This results in a profit of just over 2.3 billion for the first week. |
Jaroo
The Blue Pig Ltd
3
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Posted - 2013.03.30 17:49:00 -
[9] - Quote
Week 2 update
Total Capital 13.9 billion
Profit 4.4 billion
Could have been better, but I have been away the last few days so have not been able to update my orders as much. |
Jaroo
The Blue Pig Ltd
4
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Posted - 2013.04.12 18:00:00 -
[10] - Quote
As agreed with my investor in game the loan has ended four days early as I will be away for the weekend and needed to liquidate.
Final ISK after liquidating all stock was 17,641,713,198 resulting in an overall profit of 8,169,944,813 ISK.
As per the original agreement this results in interest payable to Lux of 1,725,165,547.
Confirming I have transferred the full amount of capital + interest back to Lux Imperator of 6,725,165,547.
Jaroo |
Jaroo
The Blue Pig Ltd
5
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Posted - 2013.04.12 19:30:00 -
[11] - Quote
I also confirm the return of my collateral in the form of a Navy Raven plus fittings.
Thanks for taking the chance with this loan Lux, I have really enjoyed working with you.
Now for a well earned break from 0.01 ISKing! |
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