0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 S2 Y6 `7 A% N5 D: QWhy bank will sell 借據給第三者???4 x' R% a* ^+ N5 g, W( C
I was so confused.....

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講到尾都係賺錢
' v* a- p- O2 W6 I# ]. H: ]' h! lso銀行可以不斷放款& S' u) I0 M8 Z5 c" `) B
美國的房貸問題散佈到全世界9 d, ]5 H+ o1 f7 o7 ?

8 H1 }+ B/ ?7 i2 ]8 C- fmortgage loan
* W, v" \+ {& ]. h8 ~>conduit
2 D( B* O+ q# M# e* m5 Y8 I>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
+ y! `: K& `% |, Y+ y( _/ t最後去到投資者

Kev

i thought it is the reason of rate of return.
3 n3 P2 L7 l0 KCDs could have different ratings, AAA -> F,
$ F; W' J  w- v0 A% I, B+ Cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ N9 B: z' v( y. c: |, Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
' j5 E; Q. s5 }# r! o8 ~- `- |, Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" \! @6 o4 e3 BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 ]. F. Z4 F8 h% Z7 [
similar to bonds, CDs trading in the secondary market have different value at different times,
' }8 [& x1 g/ U2 T% @) hnormally the value is calculated by adding it's principle and interest. $ f- i# R5 O3 n- C
eg. the value of the mortgage+the interests to be recieved in the future.
5 v$ d  f0 X5 zbanks 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.8 H" `. V7 F/ v) M. p5 x0 Q: g
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im not quite sure if the multiplier effect does really matter in this case.. t8 S* a# I2 j$ U3 [
in stock market, it's the demand and supply pushing the price up/downwards.
. Q3 T0 n$ c% u( i" S' x% bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* y4 W/ y9 g% c/ U4 ?; w, R7 _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 K/ J* w7 f& Y3 t
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.
3 G0 z4 c# K5 P+ t+ P; ubut 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$ i3 e! T. R* ~/ f* _% g
Refer to last example,2 F  o4 Z3 o% A, M$ C* R
that means bank A have no money because we borrow 10 dollars from bank A : k% e8 C! h, D
Because bank A doesnt have enough cash on hand
, ^# Q' A& m0 p* ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 ^9 J9 g3 _+ w1 Z% e: z; I7 }# F8 oA->B->C->D->E- C( Y- [: w0 l, y$ G9 {
so does it mean if E failed to pay D,
( T6 s( [* }8 j/ c7 I7 j; w# o$ f. k9 hall 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, # u6 k: `5 u- G, f9 r! I" ~
in this case it doesnt really matter how much money is created,
  q, C! Q4 d$ \! ~it's the problem of the debt itself.
+ e  B: S! v+ b, c" sthe 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.gif0 f9 i4 Z4 j; y- F) Y* K
小弟一直都唔明...' y1 ^. T  l" @
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全世界都蝕錢，咁邊個賺緊錢呢?( x! C: B; a$ B& b) c" E& u
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無可能淨係有人蝕錢無人賺架嘛...; K2 U9 E3 f/ Y+ x
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敬請各師兄解答" j9 g2 z% b" u. @, i, w
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Thanks

' t: Z! d( }- m2 E, p3 _那些根本係 紙上財富  5 ?$ b) P- v6 @% _2 [& }/ x
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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& n5 W% X4 h6 B: U2 w6 vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 t$ c3 R6 F1 b( _
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  G0 t: _' U5 S8 e) }3 y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
# K; s5 J' H2 ~! f; _0 O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, }( D$ y1 ^, x1 z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. F2 ~& W  e0 Y* K
計番回報率就已經係50%,所以可以好好賺
: m' L) H8 S, ~6 L0 j前提係銀行之間要互相信任先可以咁樣借法/ D6 J5 }$ x( P7 I+ i& S& A8 B
同埋個市場既前境要係好先得
* P+ Q1 P3 S( e1 N, N但當經濟一差,公司估值趺了,物價不升反趺
6 E7 I( @' P! m- d% S6 [: H例如剛才說10蚊的, 趺到得番9蚊,
; R- J  Q1 H. s+ X咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# y4 k) ?$ f( r8 r% V8 |0 k
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,
8 {7 d. a1 c/ Z6 Z6 q/ J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, 0 A+ w( c" e$ g, H4 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# L) Q: G5 q1 l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
, Q$ D0 z: M0 \2 r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$ ?0 j, T1 L' G, @8 x  @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& D, y0 x2 ]0 |! D9 E" o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - A% D6 C1 W8 ?- p
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* @, c) q5 W2 V" l! F& W
咁你話d錢蒸發左去邊? ...

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正係咁樣
0 ^7 p) \/ A: `( E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 W9 b" Z* b8 e( D) f) {" S( [% a
分分鐘佢地唔使還錢
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5 h2 `! a2 B/ M( X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,$ k9 [) ?6 }  S4 e4 ]& _
連國家都係問人借, 不停發債券, 印鈔票
+ L3 u4 Z7 m! Q0 m! ?. i一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 E. R) X, U6 j* w3 q
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
- k, h9 h& u; f: r/ W咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...: l/ P2 T7 S. d8 w" r# k  J/ M+ s
因為以前未生產, 先消費( z+ }& }* v& V1 J3 S6 J
而家就要多生產, 少消費