0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' [" c5 V& M0 V  S0 a
Why bank will sell 借據給第三者???
( b& l2 K, E: |2 ?" W5 d+ g  AI was so confused.....

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講到尾都係賺錢( P3 R- r/ q- ~* g
so銀行可以不斷放款
' |7 H; f& T5 d$ H1 i& @美國的房貸問題散佈到全世界
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mortgage loan - A2 m' J5 O) ^
>conduit
- R0 ]& ]: ^& K$ c+ R>RMBS(Residential Mortgage Backed Securities)! E! L' ?6 f" V* u$ e" ?
>arranger" g! f* \; q9 ]$ J
>CDO(Collateralized Debt Obligation)1 Z- l" y, Y1 _5 [! H' [) C
最後去到投資者

Kev

i thought it is the reason of rate of return.
! G3 k: ~+ p- o% p0 xCDs could have different ratings, AAA -> F,* H$ f1 L4 j5 ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, [- m5 E. D0 p; i: c- l6 Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" |( T+ q( c1 c$ R: Y7 _% Rin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: q7 o. K+ o: a4 J2 K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 w  X# j7 t; d
similar to bonds, CDs trading in the secondary market have different value at different times,
+ V' i, _# Z$ D& wnormally the value is calculated by adding it's principle and interest. ) F& R# o4 d- [. w( w1 p7 B
eg. the value of the mortgage+the interests to be recieved in the future.
' Y1 k' a! b/ L% i' e) w/ \" J8 Hbanks 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 H& c0 O0 Y8 `# [9 C
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im not quite sure if the multiplier effect does really matter in this case.
3 L2 d) B/ t4 S( b! fin stock market, it's the demand and supply pushing the price up/downwards.
7 V* q/ _# F' m9 M% _For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% U' U2 A3 Z0 j2 c. y! x2 [3 UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 M1 Y' X3 V- x2 h6 V  I' C
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.
5 Y' g) R1 A# q; a1 Hbut the value of their assets did really drop significantly.
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. J" f# j7 e2 n! V( ?9 [2 j[ 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+ ?" v% ^2 U% u2 p2 m
Refer to last example,
- n7 Y; o6 d' o9 z7 j1 Vthat means bank A have no money because we borrow 10 dollars from bank A $ V& U6 e& r9 L6 q; j) U
Because bank A doesnt have enough cash on hand
* C9 q) i  P4 s; utherefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 A: L8 k& h$ {) [A->B->C->D->E! `3 w3 {+ ]# l0 t4 q
so does it mean if E failed to pay D, ; R8 q/ l# d6 F9 P$ u" ~
all 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, 7 ^& s/ U% t1 o# z% y6 t
in this case it doesnt really matter how much money is created, 2 ~; S( q/ _, x9 [
it's the problem of the debt itself.# y: o; j$ E: d1 m
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.gif1 W; ^& e" D% J' ]1 X
小弟一直都唔明...
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& g. C' [- z; b6 R" K- S全世界都蝕錢，咁邊個賺緊錢呢?
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9 n6 `: ]& \6 @3 ?無可能淨係有人蝕錢無人賺架嘛..." `( X2 w' Q# j7 }! s8 L

$ |! r1 S0 I3 G敬請各師兄解答' X6 ?5 G8 V  X0 s
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Thanks

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那些根本係 紙上財富  
  Y, p2 d- S) R9 ^0 i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& C' j$ H5 e* T& v2 m' _& p

  N7 j% V5 d! B. Nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' X, c9 W& h1 C2 O3 u0 _$ d) Z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 z- w! g$ J7 Q, k. \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
# b/ H3 G6 O- z7 i, Q$ {, E個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, l! L$ |: ~+ t- f# B% q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. B; s2 S! A+ _
計番回報率就已經係50%,所以可以好好賺) R6 T* }) [8 f2 W8 `7 v. [+ W& L
前提係銀行之間要互相信任先可以咁樣借法
  p/ b! g$ P' J) u  B3 _* o同埋個市場既前境要係好先得: o* |3 U7 r) K% L; t5 C
但當經濟一差,公司估值趺了,物價不升反趺
5 `: G& }$ w& v5 Q; r$ R' t  C6 ~例如剛才說10蚊的, 趺到得番9蚊, $ \( R) }/ t) k9 x5 }8 |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* e+ s9 d! Y# m  [+ J( t
所以你就會覺得D錢好似蒸發哂咁
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+ Y1 Q8 P5 W2 ]5 V7 k! Z2 k你都可以當標野咁諗, 個樣野多人可以狂升值,
* I: P5 y; r7 N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,
  S+ A3 p' m; H: T3 E9 R淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" k4 B9 v4 F! l5 w4 V5 v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+ v% A/ h; g: Y) C9 S) D2 i
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
! d  Q0 Q3 O6 O# q唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 l. J: ~1 i, ?' l5 z4 G0 O( C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 b- G6 _" S" \% j) 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. j" Q. p7 [/ r' L- T
咁你話d錢蒸發左去邊? ...

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正係咁樣
5 D7 B  N4 A# T8 i/ T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1 H& H; j. \# U1 H/ Q
分分鐘佢地唔使還錢. f+ P9 U4 m" r* c+ [0 F

5 J7 X, x; K3 l, C( ]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,
, |) H0 a, }* W) Z連國家都係問人借, 不停發債券, 印鈔票
! V0 i0 d/ C: _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 P3 w, o$ m( R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
, N8 h4 `; ~- s9 @- ?& S' T: U  P4 I咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 k. [. f9 @  o# ~: h
因為以前未生產, 先消費
  y: T0 k' V: o7 w. k而家就要多生產, 少消費