0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif, R5 T6 P8 Z3 X/ P4 H
Why bank will sell 借據給第三者???" @# S7 g7 t7 ?  {: T
I was so confused.....

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$ X0 ]8 ?9 X& p2 n9 A講到尾都係賺錢
; L; e1 I; e2 Z- ?( J/ kso銀行可以不斷放款
  X# U4 ?( n5 P9 @0 E! L美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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: M$ _0 @/ d9 y5 r5 a5 \0 b>CDO(Collateralized Debt Obligation)
" V* |/ W+ w/ X  j最後去到投資者

Kev

i thought it is the reason of rate of return.
( y: `1 l0 \5 g) u' F. e% ECDs could have different ratings, AAA -> F,/ U# A" S- `, W' ~+ [( A& ]6 ]5 ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.; u  j3 m) i5 x/ B, a: v  [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 K% Q2 z8 a% v4 x
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 t5 w  h1 T, q; r- w+ UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 g8 i; {; Y9 D  l2 j0 B/ e* W
similar to bonds, CDs trading in the secondary market have different value at different times,0 k# e2 O8 ~" f& y* p; l
normally the value is calculated by adding it's principle and interest.
" t$ {* w" W5 B9 P- x$ [eg. the value of the mortgage+the interests to be recieved in the future. # ^1 D. _( B" |$ R9 Z5 u! R' 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.
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" o1 f9 o# T' ~. Uim not quite sure if the multiplier effect does really matter in this case.4 ?$ z; f! _( {4 X# @/ p
in stock market, it's the demand and supply pushing the price up/downwards.
8 v0 z: `3 S6 M% }! k" |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 M" O+ n2 s5 q* s1 f7 l8 ?. B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 L% t. u& z6 q# W& `
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. 7 j& \5 \4 }! x
but the value of their assets did really drop significantly.
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2 H6 O- i. U  Z0 n, `6 p[ 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& b; z8 u4 H2 S
Refer to last example,  D" L; R4 l! L& q. s
that means bank A have no money because we borrow 10 dollars from bank A ! P# v7 }& N  I
Because bank A doesnt have enough cash on hand
- G6 C0 T% d: x% T; H6 Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E! L# x/ Z  y- x9 J: F: `
so does it mean if E failed to pay D,
2 L3 F( V/ m8 G$ w. t6 R, j6 mall the B,C,D,E have to go bankrupt?
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  m* n9 n# v' t% `$ lthe multiplier just tell how much money created in a whole economy, # c! K0 ?5 ]$ Z9 `; ]+ a
in this case it doesnt really matter how much money is created,
. k, E# Q; |1 `7 o2 Qit's the problem of the debt itself.
1 J0 n# A  B" ]" i5 z% Bthe 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.gif3 F3 J4 I" x, c% A1 p- K- B
小弟一直都唔明...' W$ U" [( D6 V) o, `3 F: N
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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...
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敬請各師兄解答
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: N* W; j, u* V( a: F7 IThanks

: Q# q1 F2 C5 H2 f/ G2 |! ?那些根本係 紙上財富  - }( y7 M& ?0 k. R, c
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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% [6 [  T  N' n4 o8 m+ _/ ?http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( M# g9 I) V% T1 M4 c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 A; G3 @; q# y  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
9 M! U& Q( e  l3 @4 G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. t7 a, T9 c7 Z. u扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 G/ v$ {8 F7 \, l6 {! G3 e. i計番回報率就已經係50%,所以可以好好賺
" n" W$ e* h: }. B6 H# v前提係銀行之間要互相信任先可以咁樣借法
- e* {, K+ _6 \: J# n同埋個市場既前境要係好先得( ?7 e0 \+ e9 N( ~- n( ^( \
但當經濟一差,公司估值趺了,物價不升反趺
& ^* F1 |8 N0 X例如剛才說10蚊的, 趺到得番9蚊,
2 S- }5 b' ~. I5 O咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 x. J1 Q( ]/ [- N5 l# n5 K2 P% \
所以你就會覺得D錢好似蒸發哂咁
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& a5 J$ N/ e9 w" i8 T; O2 D$ E你都可以當標野咁諗, 個樣野多人可以狂升值,   m8 s7 t2 |% A, J! T% D5 [
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 h1 ~; d; s- l5 u* ~淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 M/ T* f3 h& y) }( n$ v4 g6 M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/ ]5 d1 D# [7 l2 M! 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.gif9 q/ _$ \0 c" ]4 m
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
# ]) V- M* B$ L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , Y# _' l! t  j( Z- k  N' R! 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; ^- R, H0 x2 G- p" L- V
咁你話d錢蒸發左去邊? ...

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# p( q+ q& \1 x1 j+ _正係咁樣4 n0 d  Q& M5 s5 C8 ^2 {: ]
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
/ [2 p% ~. u8 B; b0 S分分鐘佢地唔使還錢2 ?- N4 l3 |  m( w" J
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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,5 |0 U; J7 J# A9 ^! L" b
連國家都係問人借, 不停發債券, 印鈔票
- m6 m! I. U: A* W' w一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( P7 l7 h1 R) v. f, @1 }
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.gif8 s0 p( ?/ R( j2 M% y  G0 a5 P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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. C9 _2 m+ \  y其實係...
; Z! \/ u1 P$ [9 A) b7 ]0 S+ p$ r' X0 U因為以前未生產, 先消費
3 y6 h7 V0 L8 O! T- g$ A! G2 M0 {, @而家就要多生產, 少消費