0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ K8 d$ q6 y- |& h8 X/ ]) U0 e6 \Why bank will sell 借據給第三者???  l: j+ ^, x! B. F, e; E: P+ E
I was so confused.....

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2 C1 }5 L2 Y# h講到尾都係賺錢
* e6 M) w! }8 bso銀行可以不斷放款
' O- z; ]; j( Y: B  i& Q美國的房貸問題散佈到全世界& r8 Q" b8 T+ y' g! W1 r
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mortgage loan
3 L" i* I2 G4 G$ u" k7 i" r7 H( E% L>conduit
5 O1 |8 }5 [5 l7 _* b>RMBS(Residential Mortgage Backed Securities)
  z- \& m2 k% p. D# k>arranger9 p7 n  `8 o# z
>CDO(Collateralized Debt Obligation)
6 i7 E# {) y& n  E( p- z最後去到投資者

Kev

i thought it is the reason of rate of return.
$ N3 a. q& ]( J  mCDs could have different ratings, AAA -> F,
: C" S0 e# j/ y. [' g! ^more risky ones would have higher premium (interest rate) as a compensation for an investment.% f( {$ q/ R9 s  u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 y5 @; r  c+ I7 a# Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ S$ e- {- p# vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* K1 n9 Q& E( |- E  H8 e4 ]  y% G* ~similar to bonds, CDs trading in the secondary market have different value at different times,
( J) G7 G1 ]4 o3 Z9 e& [! gnormally the value is calculated by adding it's principle and interest. - p2 C' ^: u8 b, E
eg. the value of the mortgage+the interests to be recieved in the future. ' m) _; Q, P: p- |2 h* m" W
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.
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( L; @7 z$ u/ v* `/ J1 E$ ?1 qim not quite sure if the multiplier effect does really matter in this case.* G0 J$ N& c9 M2 _! q1 ]$ Q
in stock market, it's the demand and supply pushing the price up/downwards.
  D+ i. |5 S+ R, MFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 @! s6 R4 K  L
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. m9 G' L) m% U2 k" }
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.
; B1 M! v% P! Hbut 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.gif7 a0 u0 }3 ~! k9 u
Refer to last example,
; `7 B6 i( p, Othat means bank A have no money because we borrow 10 dollars from bank A ; @) H; E& g  C7 J
Because bank A doesnt have enough cash on hand
0 A$ X! f! }6 i7 S. s1 X3 stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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. G$ c& [& W3 i& JA->B->C->D->E
$ W5 m" h4 v' t. o* u- l9 t9 W- e2 Sso does it mean if E failed to pay D,
$ ^$ k. s  `- J, v" ]; m# T% U* b" sall the B,C,D,E have to go bankrupt?
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# w% P4 i1 k+ H4 V2 qthe multiplier just tell how much money created in a whole economy, $ |8 k: W7 {2 a# p
in this case it doesnt really matter how much money is created,   p6 Q& e$ |4 H  m3 J% t
it's the problem of the debt itself.
" g+ a  S5 t& I' |* Y0 w* Hthe 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" J: w, j! R& j: k7 w
小弟一直都唔明...
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- z' Q, m( U0 q$ \* ^全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...& h3 F8 e; @7 P
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敬請各師兄解答- z3 Q# G: t2 c2 y

" |* Q( }5 v2 P7 J* A2 \3 y1 LThanks

& R6 E7 U, R* L# a9 y那些根本係 紙上財富  & v6 ?( Q/ k( c" H- ^5 g# _
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 graphic6 Y8 h+ b6 I! s2 C

# ]0 y. Y- a3 H% xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
: }( ~0 _" e- i9 O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 R" m& I  s! n7 {2 S( h' c1 m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
# ^; ?+ Q) H- G. A/ V6 z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 V2 t9 u/ h% d. R5 t6 \" ?. k
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 N0 a' ~, l$ j7 p! g
計番回報率就已經係50%,所以可以好好賺
! a, a; g5 n" O4 e! U, M前提係銀行之間要互相信任先可以咁樣借法  f1 e8 u$ ~) K8 E: |0 K7 [
同埋個市場既前境要係好先得/ E- N& e4 L* K, O$ i
但當經濟一差,公司估值趺了,物價不升反趺
+ y3 x# Q/ X* x0 z6 U例如剛才說10蚊的, 趺到得番9蚊,
0 |. g8 h# Q2 G) s. C1 m3 ?咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 O- h* g' F5 y$ K9 L8 E
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, / I# f! a6 n) e7 W
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,
4 f- |& C' `* O0 R8 P' I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' p0 ]. A5 s% U  J" ^; E5 d: \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 h9 u  G0 r1 h; p
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# N, V' k5 |/ s7 {, ~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ L- ]+ n: z% L& r. ^% U# m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) r' [- b- j% ]' F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: z% h5 s0 P7 f9 {( x5 p
咁你話d錢蒸發左去邊? ...

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& w( `# k% N1 G: l& g正係咁樣
* s% G0 e/ s6 w6 l0 q6 i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
0 u7 R; A' w+ Y' B分分鐘佢地唔使還錢
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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,
/ p0 C1 R, ?2 `! k, R! s連國家都係問人借, 不停發債券, 印鈔票
9 n# N. z. s/ i' @) k9 K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! w8 F$ a$ n& x  Y: 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.gif$ A# E0 p8 A% i" {2 ]
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  ~+ i" b1 r4 ?2 Y# A. C0 O
因為以前未生產, 先消費
, x* X1 D1 s) S2 T, z4 L8 M% T而家就要多生產, 少消費