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Anyone have experience with \"YieldStreet\"?

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  • Avatar BoneFish 
    Participant
    Status: Physician
    Posts: 5
    Joined: 10/17/2016

    I came across this website https://www.yieldstreet.com/  After reviewing the company it sounds like it may be a good opportunity, but wanted to see if anyone has experience with them.

     

    Ryan

    #28489 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7949
    Joined: 01/09/2016

    I came across this website https://www.yieldstreet.com/  After reviewing the company it sounds like it may be a good opportunity, but wanted to see if anyone has experience with them.

     

    Ryan

    Click to expand…

    I think it’s interesting that you could actually loan money to the plaintiff who is suing you.

    Not a fan of alternative investments.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #28499 Reply
    Avatar BoneFish 
    Participant
    Status: Physician
    Posts: 5
    Joined: 10/17/2016

    Is there a particular reason why you are not a fan? I agree I wouldn’t want to loan money to anyone who is suing me, except if they won I would get some of my money back (j/k).  But I have been involved in a lot of patient care associated with personal injury(auto) and after having conversations with the manager of the program it seem like it could be quite profitable.  A lot hinges on that, i.e. a good attorney who only accepts cases that are legitimate, a physician who treats that patient appropriately, etc. Despite obamacare’s intentions, many people still don’t have insurance and a large part of the LOP patients are among them.  But LOP cases are only a small part of what would be considered “alternative”

     

    Ryan

    #28504 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7949
    Joined: 01/09/2016
    I agree I wouldn’t want to loan money to anyone who is suing me, except if they won I would get some of my money back (j/k).

    Click to expand…

    Sorry, that was a lame attempt at humor.

    As for investing, my experience has been that a boring, properly-diversified, equity mutual fund or ETF portfolio, rebalanced annually and managed according to the dictates of a financial plan generates the most consistent and optimal long-term returns with the lowest risk. Given this, I don’t see the benefit of alternatives.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #28505 Reply
    Avatar East coast 
    Participant
    Status: Other Professional
    Posts: 114
    Joined: 03/06/2016

    I came across this website https://www.yieldstreet.com/  After reviewing the company it sounds like it may be a good opportunity, but wanted to see if anyone has experience with them.

     

    Ryan

    Click to expand…

    In a previous post just two weeks ago, you stated you were new to investing – I’d strongly urge you to stay as far away from these types of investments for as long as possible. Many better (boring!!) options out there.

    #28510 Reply
    Avatar East coast 
    Participant
    Status: Other Professional
    Posts: 114
    Joined: 03/06/2016

    Ha – well, there you go. Hadn’t read Johanna’s 2nd response, but I think she and I are on the same wavelength in terms of advice using the term ‘boring’.

    #28512 Reply
    jfoxcpacfp jfoxcpacfp 
    Moderator
    Status: Financial Advisor, Accountant, Small Business Owner
    Posts: 7949
    Joined: 01/09/2016
    alpha investing

    Ha – well, there you go. Hadn’t read Johanna’s 2nd response, but I think she and I are on the same wavelength in terms of advice using the term ‘boring’.

    Click to expand…

    Great boring minds think alike.

    Johanna Fox Turner, CPA, CFP, Fox Wealth Mgmt & Fox CPAs ~
    http://www.fox-cpas.com/for-doctors-only ~ [email protected]

    #28513 Reply
    Avatar westcoaster 
    Participant
    Status: Physician
    Posts: 37
    Joined: 02/17/2016

    Our career path places us in direct course with a lot of marketing for ‘alternative investment opportunities’. I think the general consensus here is that marketing is pitched to physicians often because we are “easy prey” — not often sufficiently financially savvy to question deals that those with business training would be quick to pass up.

    The advantage of alternative investments is the diversification (maybe also increased risk and hopefully increased return) they can bring to a well rounded portfolio. Most boglehead/WCI type investors are going to turn away from these in favor of a more “boring” portfolio (stock/bond and maybe a small (10%) portion real estate/REIT). For the purposes of your retirement, I would encourage that line of thinking.

    If you find you have an absolute need to dabble in alternatives, keep a side fund for these projects when you are on track for your retirement and experiment a little. Everyone has a hobby – maybe yours is yieldstreet. Most of the big name financial bloggers have all enjoyed playing around with LendingClub/Prosper type alt. investments but I’m not aware of anyone who puts a significant share of their portfolio into it.

    #28515 Reply

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