0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! a9 ]# P0 ^& p$ `% V% `Why bank will sell 借據給第三者???' ~0 d- Q+ l2 X2 W; T' n
I was so confused.....

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& P; D5 h6 K+ Z( ?6 s5 i: r8 E講到尾都係賺錢
: E3 S3 P! H' A1 }; n+ J; w2 n4 \% `so銀行可以不斷放款0 E: m; f" e% a
美國的房貸問題散佈到全世界
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( M+ r3 @1 u; V: j8 m8 Omortgage loan
0 O# ~4 T1 W) Y2 g8 }  y7 ^6 l>conduit
% ~  V. U: ]- f8 v% L; i' Z>RMBS(Residential Mortgage Backed Securities)
. i6 K) _' h$ D0 r; ^>arranger, x# n8 N* [& R  S  o/ o
>CDO(Collateralized Debt Obligation)% c( z! }5 H3 e, n' ~
最後去到投資者

Kev

i thought it is the reason of rate of return.: X$ N. N! }/ _% b' P
CDs could have different ratings, AAA -> F,
& u6 ?( i; @: `more risky ones would have higher premium (interest rate) as a compensation for an investment.6 w( H7 F  a0 y1 H3 b7 C
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) b$ O2 }8 X2 o8 G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' J$ {! ]% R, JAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( g2 J! I, l% Csimilar to bonds, CDs trading in the secondary market have different value at different times,8 l& [( w( c7 a5 L  P* c3 H
normally the value is calculated by adding it's principle and interest.
  P0 e( U$ ^5 w' X8 ieg. the value of the mortgage+the interests to be recieved in the future. 5 y2 f* z. j1 V" S5 _/ d0 Z, |) e
banks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.9 S7 G+ A3 |, W
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im not quite sure if the multiplier effect does really matter in this case.1 P3 t1 p# R8 z& Y- M: S2 w  v
in stock market, it's the demand and supply pushing the price up/downwards.4 ^6 J$ q2 W  T4 s) \
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, l5 C  X8 R# m/ H4 Y' ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* t' I2 F2 c* O9 Q# s$ KThe capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities. & D( R$ G5 o: C# l8 D; t  y& _
but the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" k  c4 G6 f$ p- f$ X  s. kRefer to last example,
4 S5 \3 u  D" E) r& K9 K/ |# s9 Sthat means bank A have no money because we borrow 10 dollars from bank A ) s! d# {' D( ^1 O
Because bank A doesnt have enough cash on hand
2 Z0 a" G  s: o$ q+ R, g$ Z4 utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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( N+ ?  O4 |% t- h0 ?A->B->C->D->E
( ^. K# Q2 W1 D0 P+ B4 [( ]7 ^5 {so does it mean if E failed to pay D, 7 K) d; n6 P2 x3 K
all the B,C,D,E have to go bankrupt?7 g6 a. X7 x) l7 |7 K' J2 o

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the multiplier just tell how much money created in a whole economy,
# T7 t: t. H. W$ pin this case it doesnt really matter how much money is created, 5 A% A6 F) ?1 }1 [  `
it's the problem of the debt itself." z- n2 b" R( {# L) F2 E) @" C
the debt(securities) is bad, faulty, that harmed the whole system.

benny1219

原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  V2 |. Q9 o" u' R2 K( L
小弟一直都唔明...: Y# Y7 C9 t) t+ s' o6 }0 M

1 k: [2 a. H9 }2 N+ v全世界都蝕錢，咁邊個賺緊錢呢?3 V$ Y8 T* o+ ~9 I' p

0 z9 u1 {2 w* }無可能淨係有人蝕錢無人賺架嘛...
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' w6 f- w" d% ^/ o敬請各師兄解答
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7 F; Z+ {. ?, H4 m3 o  g8 UThanks

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那些根本係 紙上財富  & Z) c. i7 Y9 o( U5 E/ U0 H
各式各樣的證券被炒到上天 你一樣唔賣那筆錢永遠都不是真的存在

qulapo

with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic
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+ s) X, ^' f1 ]5 o1 uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產7 O- b5 n* m% a% s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% ^7 f- c# y5 a  L; g, [1 X1 G* D
於是投資銀行就去搵銀行抵押借錢投資, 打個比喻1蚊既野借10蚊
/ m" H1 Z% z& I7 R個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 c1 c- Q! V& Q9 m) B" T; }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; H8 L- `' W" y- F& p
計番回報率就已經係50%,所以可以好好賺
) U2 F5 _' s! @2 V前提係銀行之間要互相信任先可以咁樣借法+ L; N, l0 p$ G+ Q1 A+ d& |7 H4 ^2 S
同埋個市場既前境要係好先得
3 p4 q& W7 ]) @1 q8 R4 R  s) U但當經濟一差,公司估值趺了,物價不升反趺
8 D- r' _2 c, O: w3 u6 R  q例如剛才說10蚊的, 趺到得番9蚊,
" d+ w, {& q) A: T: R- R4 [$ @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ j- r7 ]3 r6 O3 U+ j% v6 _# U: Z
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,   c6 r* u, q) E- i
但當冇人要既時候一蚊都唔值...中間D錢其實真係冇人話賺左~

kuru

唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" h8 s/ n& J* v% |; R. v* I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, X/ Q6 Z$ e& Z; G* N+ w8 U呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
+ a4 H, W2 \$ [咁你話d錢蒸發左去邊?

fcukyoukelly

原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- q6 l) D2 d/ ]% W/ ?6 `
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 ^- {" K; I3 r. y" b& q5 O1 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  x& T, r$ }, |3 ?" c呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行8 q& W1 p% k2 i6 Z0 ^( {- A( j$ s" M
咁你話d錢蒸發左去邊? ...

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正係咁樣5 m& r5 d3 h8 A. A" h# u6 g
其實, 以個人立場去睇, 美國好多市民都唔怕銀行/財務/投資公司結業
/ r& h. z9 ?7 ~; i# {' o分分鐘佢地唔使還錢, j" H( U0 D) R
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再講, 美國人先洗未來錢應該係世界第一, 唔知點解無錢都可以買咁車買樓,
, b3 A, h5 W, a, w) [# ^連國家都係問人借, 不停發債券, 印鈔票
! x2 V- C' g1 k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 W# P, m, Q& e: f" v, y8 Y編編唔生產又使用物品使用得最多, 美國就係咁既情況

Jk

咁而家"爆哂煲"算唔算先至係變番"正常"???

fcukyoukelly

原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif9 Y4 J0 I5 x  t3 D
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 B: `1 G% H1 g' b( x$ G+ a: G其實係...' H3 e  k6 Q8 C  f9 e
因為以前未生產, 先消費# V" E7 a) T& A8 q, v
而家就要多生產, 少消費