0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" g! [, E5 F1 z" ]1 ?& u# k6 s" U
Why bank will sell 借據給第三者???
6 @% R; k& D4 Z7 L/ nI was so confused.....

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: h. H! }* @7 J( D5 r+ X+ F講到尾都係賺錢
2 o. m  c) \' J& rso銀行可以不斷放款
0 j) M3 f; \1 p3 `4 t美國的房貸問題散佈到全世界5 E, l/ n, U7 V

1 J5 O5 S8 Y2 N1 v. y6 W5 N# t5 @mortgage loan ( i5 b4 |1 E$ y  b% I- P# P/ m
>conduit
9 ?4 m* {- Q# W; {: Q>RMBS(Residential Mortgage Backed Securities)
& E7 i7 q% U- g$ b" E& k1 C>arranger6 j; D+ Q% w2 I# K
>CDO(Collateralized Debt Obligation)
( c$ ?3 y# H  T  z9 f# K, Y最後去到投資者

Kev

i thought it is the reason of rate of return.* o; X8 r7 j6 F" A! u7 L
CDs could have different ratings, AAA -> F,! p: d5 \6 V6 B& S
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  k' w' }. D$ S5 ]main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  Z/ ^; n( n& C% P9 ^6 O8 y' _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 |" g( w; ]: v. v' Q: {  {0 t, ^: kAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 [" v/ s2 K0 ?) D0 |similar to bonds, CDs trading in the secondary market have different value at different times,
8 |7 t6 ?: R4 {( m: Hnormally the value is calculated by adding it's principle and interest.
' u$ D2 z0 J7 u# e- _6 N( ~( a2 n" deg. the value of the mortgage+the interests to be recieved in the future. ! v8 M. m: N! ?+ L
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.- D+ B6 s8 k2 O- I- d6 Z$ k2 J' W) E
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im not quite sure if the multiplier effect does really matter in this case.( ]! V/ M8 K( e4 Z  ]+ G4 L
in stock market, it's the demand and supply pushing the price up/downwards." w- o# o) w  I" O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' E  U( B! v* N6 K4 q2 `4 T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 {% ?. _( j, C4 A0 [' NThe 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.
: y& p0 {3 L  H) d' \3 J, zbut 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% G1 E+ Y2 K5 K+ \
Refer to last example,
0 Q7 l* {6 Z# Z3 ]% t& \/ @1 Qthat means bank A have no money because we borrow 10 dollars from bank A
- J  ]; s5 X0 TBecause bank A doesnt have enough cash on hand # ?( `& E* ^$ r" B+ I( @  R, c4 ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E4 y- g6 F( \3 C3 z# u
so does it mean if E failed to pay D,
) }& g- a$ J" D4 i& S  kall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
0 h; v2 E! l9 c8 Q/ i" Iin this case it doesnt really matter how much money is created,
, c$ g$ w+ D0 `8 v3 a' @it's the problem of the debt itself.1 f. h+ o2 d9 P2 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
6 n5 a0 t! b! a5 T9 v小弟一直都唔明...
6 K: T9 g* m/ y# q- N  P1 k, m! f6 g: t' U* {" K% b
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...' u8 N3 M8 V6 _7 Z5 ?
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敬請各師兄解答3 O! p) x  d; r- ?6 t6 J8 @

. I" {2 U( t! jThanks

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那些根本係 紙上財富  
: \* a# ]0 g9 B8 t8 k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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5 S+ E( ^- b, A1 R( U7 ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產- ]/ n( e* r2 Z) T  K- h' j
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高5 x( Q0 K1 v2 p" [$ u8 j
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
# _* J7 {) ]& M8 ?0 R個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' ?% J* N' k. f& C扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 k: S; o- c# ^% P3 v: y8 @6 m2 k! i
計番回報率就已經係50%,所以可以好好賺
; ~% s7 H2 @1 c; `! z前提係銀行之間要互相信任先可以咁樣借法& H9 u/ X. W8 ^; Y3 F$ ~
同埋個市場既前境要係好先得
1 J; q. S3 B8 p4 O! M& `/ p但當經濟一差,公司估值趺了,物價不升反趺
+ Y6 a( i1 g7 X6 T2 b% h/ Z* X例如剛才說10蚊的, 趺到得番9蚊,
" j5 n% i; u  _- v$ a咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  C# u- Z( o5 l! {% @. A: S
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,
/ Q) o8 Q, T3 b# N! g1 m% k6 P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, 7 c% x% F3 G; J7 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 U! n- s) x7 m" ?+ K  G3 e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 N+ m. y" @, d* Q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
3 @+ }: v. s4 U( Z% D) c, b唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ \4 {" ^+ I9 [6 t! C( [/ k+ S; `& K" l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 Y, q, @5 x* J$ V/ 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6 i/ G: ?) C1 Q
咁你話d錢蒸發左去邊? ...

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正係咁樣
2 C8 }6 u- ]# M( D; z/ z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8 h& Y" v# T: Z. j* n, y/ |# l
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,. H1 _% v- R8 X$ @. v- @
連國家都係問人借, 不停發債券, 印鈔票
/ ^- l: Z; h5 N一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! r6 N8 a: z$ B0 Q% I
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/ g7 H/ L; w3 U( p* {
咁而家"爆哂煲"算唔算先至係變番"正常"???

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+ F3 b+ I- o/ s1 j其實係...
$ L# X0 ^0 ^; n% u7 K3 |6 n因為以前未生產, 先消費4 |4 s! q  g: p+ i% x3 @
而家就要多生產, 少消費