0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ m4 u. z" x# p9 w* M) N2 K, s$ e# A, j
Why bank will sell 借據給第三者???
; D. f( A, M: Y9 w9 JI was so confused.....

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講到尾都係賺錢2 y6 K7 Q! r9 l0 R) L8 z; [$ w0 {8 @
so銀行可以不斷放款  ~2 g$ l; F) C9 {1 K
美國的房貸問題散佈到全世界  A& y; y% z5 O! C  C! k
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mortgage loan 9 [  e. ^0 J- I: u7 n2 a& E) x
>conduit' s6 ?7 R! a+ \" K/ ~2 i
>RMBS(Residential Mortgage Backed Securities)
# A- c* F4 ~' O1 u>arranger
4 O4 ~' ]  d, _8 K) [: }5 t>CDO(Collateralized Debt Obligation)
- j. O/ G% F+ f5 b( K最後去到投資者

Kev

i thought it is the reason of rate of return.; B. f. H( {, ?3 V) r& V; N* ~' J
CDs could have different ratings, AAA -> F," @  q% g0 ~' A4 J- b! T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  x2 b9 i, X9 }# k( Lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. Y' @7 e! W  ]in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. P+ B1 g& F: ~& G9 [7 AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ M! o: @; e, M2 P6 c8 P/ @similar to bonds, CDs trading in the secondary market have different value at different times,
* E) h1 k1 W; r# dnormally the value is calculated by adding it's principle and interest.
1 _( d3 e; T, J8 k+ m* Ceg. the value of the mortgage+the interests to be recieved in the future.
; \+ A5 M: ^0 @3 V* `( U* wbanks 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.' Q% A* k2 z8 d1 y& k
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im not quite sure if the multiplier effect does really matter in this case.
* Z! J" P! q6 n7 `1 x+ ?in stock market, it's the demand and supply pushing the price up/downwards." Q9 A; e. y: N# i9 o5 m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 o. w" u( D* [- X% U$ N% {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. p% X3 p# B4 G' N' n# Z
The 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.
: D0 D4 D+ J, \5 Lbut the value of their assets did really drop significantly.7 S, o1 R( t- v! q, U
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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
1 u- ?7 W# `6 |. F# w; ~Refer to last example,/ M/ B2 P9 O( t" F+ T
that means bank A have no money because we borrow 10 dollars from bank A
7 ~/ \5 c: l, B# vBecause bank A doesnt have enough cash on hand 2 D% T4 W- p+ C7 `) H) K5 L; H1 i
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 f9 S; g, K4 }A->B->C->D->E" A2 {4 G  c6 i* y+ s
so does it mean if E failed to pay D, $ t! v& y2 S: k! s. l+ n
all the B,C,D,E have to go bankrupt?
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; P& n; j2 k0 q' V# P- v8 v0 Cthe multiplier just tell how much money created in a whole economy,
  a& X2 t+ a" ~* w0 G* u6 j9 Z. Ain this case it doesnt really matter how much money is created,
+ Y3 b4 S" w% T- p. K; r& t! Y6 x7 Cit's the problem of the debt itself.: D. o- ^$ n) Z9 f$ B" p% @
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
! a0 s0 ]  L3 t, B: M. j小弟一直都唔明...5 V- R2 H* b7 j2 |; C; R
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全世界都蝕錢，咁邊個賺緊錢呢?  X. M& Q7 B) N: N+ S+ y2 n
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無可能淨係有人蝕錢無人賺架嘛...
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- h$ V" q  ~7 e敬請各師兄解答
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Thanks

' I7 I" `8 d1 Y2 D% y: L; I那些根本係 紙上財富  
% E- s0 ?, ?* }8 G# t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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! `' W# N/ ?, H) a( zhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' A# m7 l4 i( m' {: j當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ f: j8 K( F& E" L' 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
3 x0 z! y7 D# A. J6 V4 J' J& e8 U/ v個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( W% ~" A1 }: y7 D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' r3 O7 x/ X7 G計番回報率就已經係50%,所以可以好好賺
/ i1 G3 P5 g' J# q7 x5 ]. w9 a; a前提係銀行之間要互相信任先可以咁樣借法
+ [/ y- T% y+ X2 l6 a2 b: c# e6 v同埋個市場既前境要係好先得
6 k6 m5 s  w/ t( {) t7 e$ n但當經濟一差,公司估值趺了,物價不升反趺3 _+ R% h& _. M7 ?
例如剛才說10蚊的, 趺到得番9蚊,
% K% `+ u# M# F' C: R咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! Q" \& m7 H5 {: l, R+ e4 b/ G9 F所以你就會覺得D錢好似蒸發哂咁- u' e$ t; ?% [; l* x2 Q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
0 @' c# [  P% o* 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, ! E4 }2 z" L" O2 L$ }
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + {- w8 E: A. k! J( T
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 \- L8 x8 Y: _' a/ A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: Z3 z  W5 e  ?  @3 @) d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ C+ |0 @  {! \5 a, c* ~+ L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ W" p8 o1 S+ U1 E6 O* Q* D8 ~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
" [2 Z$ `# @2 T0 P6 @* x# r, [* H咁你話d錢蒸發左去邊? ...

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正係咁樣
0 g8 U& d. U4 e( v1 y( W: L' x6 v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% d" V! ^' q2 d6 Z/ l( z
分分鐘佢地唔使還錢$ q! \3 m+ v2 A' D
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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,' u" ]- X& y- J6 _5 u3 Q
連國家都係問人借, 不停發債券, 印鈔票
! F+ ~- F6 k. V7 `: P$ Z, V2 ~6 N) a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 U, D1 N! _( w
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.gif6 w/ d7 U. P5 G% @/ l8 R8 J
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 f/ c( D/ H' }& l3 N( d3 v% k/ a! \其實係...
! w* d; V' j. [/ G/ L. D" W, k因為以前未生產, 先消費- X5 g6 b4 ~9 t
而家就要多生產, 少消費