0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 u) g7 e6 {' s) E8 v
Why bank will sell 借據給第三者???+ L6 X# `3 p5 r0 V7 M8 s4 D3 f5 `. q
I was so confused.....

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- Q5 ]6 R$ V: H$ L# }6 R! a2 y講到尾都係賺錢+ ^2 |& w) U" B1 K  S
so銀行可以不斷放款
8 F! \# K* a9 g. t美國的房貸問題散佈到全世界
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mortgage loan
6 z6 _7 H& A/ A: Q0 A+ ~9 p>conduit$ O& w: |3 w) N3 ^9 M% W
>RMBS(Residential Mortgage Backed Securities)
' `7 o& ^+ R2 @. m% H; b>arranger
+ x8 S9 R$ K2 H3 U5 K7 M. N2 S/ Q6 ]>CDO(Collateralized Debt Obligation)" O8 @  K# o5 F: ?
最後去到投資者

Kev

i thought it is the reason of rate of return.9 K7 _9 p  p; G0 H% S
CDs could have different ratings, AAA -> F,, h2 r+ l2 y0 c* Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. e2 e. ^% X7 O' b$ l( N9 \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: Y8 F" h8 h7 O! M+ T5 W/ P1 c% ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" ?8 i. C9 I. u8 ^6 W8 IAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' ?! [9 D% x6 ?3 j+ L5 t/ H% I! m
similar to bonds, CDs trading in the secondary market have different value at different times,
) H7 @5 @5 o. z9 P; Lnormally the value is calculated by adding it's principle and interest. ' y+ |8 e! z& z: ~  |) }3 g5 f# o
eg. the value of the mortgage+the interests to be recieved in the future.
7 _4 b; X. _' c/ ibanks 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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" G  x( C5 k9 V5 u4 h1 Eim not quite sure if the multiplier effect does really matter in this case.; P; S! d% E2 W+ t6 L
in stock market, it's the demand and supply pushing the price up/downwards.
4 n( G, I0 A" wFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ h* h, f. h  @* {! B. A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- j. y$ @! k& P  B1 e9 Y9 m+ fThe 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. 7 ?1 ^* b1 h" J; Z9 O
but the value of their assets did really drop significantly./ \9 K. J# @5 T$ S

8 P* ]# E" t; v$ L1 T[ 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  D7 u) n+ D/ J" E" w2 O
Refer to last example,
: V+ q( G% c, T0 f0 vthat means bank A have no money because we borrow 10 dollars from bank A
' M- n: Y5 U3 ABecause bank A doesnt have enough cash on hand ( a4 q( N4 m+ n6 T5 S
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, b% _6 r8 T, S! n" i/ a: M7 k% Q  h1 Iso does it mean if E failed to pay D, 2 A1 ~( i- g1 Z
all the B,C,D,E have to go bankrupt?: O4 F3 x2 l; w2 ]* S3 M% k! C7 t4 c
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0 M$ I, i1 |  Q# gthe multiplier just tell how much money created in a whole economy, 6 [1 y, b/ P( v) @- V7 @$ O! G4 F
in this case it doesnt really matter how much money is created, # C/ T5 g3 V6 i* W! w
it's the problem of the debt itself.. k- u1 f7 a4 d$ F
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( u) k" O: A4 E" ~6 r' a
小弟一直都唔明...% o$ z  T7 |3 G- z% D" C

' w8 D0 ?; V. b全世界都蝕錢，咁邊個賺緊錢呢?/ @$ v- O' K6 l/ o, H" a

! ^5 h; o" [+ l4 @; N* K0 h無可能淨係有人蝕錢無人賺架嘛...7 T- U0 p2 M, |% P
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敬請各師兄解答9 ^0 R( X2 o; B! Q
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Thanks

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那些根本係 紙上財富  
& v, {$ B7 l$ p, X5 a& [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# |5 Q& E! q  H4 m  F! W( _/ H

1 L; H. c! |4 c1 H* `8 r) m4 ghttp://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. w( i* ^& x; X, E" m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, w) J0 l6 g0 w5 F( k4 r7 ?
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! ]& K7 r0 `) E' t8 l2 R% h9 }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# V( \) @; ~0 L4 O扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, X6 i" {, I% {1 [: e( e- H
計番回報率就已經係50%,所以可以好好賺) g1 _. R# Q+ y* G6 k
前提係銀行之間要互相信任先可以咁樣借法. r2 f" w, v; t( ~0 c& J
同埋個市場既前境要係好先得& Q' d- O3 Q" L3 G# S
但當經濟一差,公司估值趺了,物價不升反趺6 P8 d- w8 U# `) \( K& g  r
例如剛才說10蚊的, 趺到得番9蚊,
8 e) R# G3 h' A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 V+ y. a- P- ~9 r! W" v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,
7 a6 X7 {6 W; d, X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,
8 B) y/ T, C# S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 D: j' z; ^+ q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, |4 N5 v! A5 h) N8 Z0 N
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
7 s. C+ Z! \  v  {- F唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ D6 U" D% b/ k: A4 G& {" N* r( _! H& ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : g& d7 s! _( K
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! c1 W" z7 o3 t# o/ V
咁你話d錢蒸發左去邊? ...

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正係咁樣: t8 Q* s. U$ `, j/ e; O6 P3 F' h* ~* 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
3 l2 x! |3 F4 E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,
* e( L; R' ]- M9 M5 r連國家都係問人借, 不停發債券, 印鈔票
. A, p  P' Z" _0 h1 \6 R9 q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 z  q! b! `9 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
8 g6 W, @6 N# v$ ^+ S咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 W& Y1 h/ a$ G% x. o5 \# k, H1 L1 p
因為以前未生產, 先消費
- E! y& d! O& |6 v而家就要多生產, 少消費