0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 I& J0 H3 c1 p3 ^5 C
Why bank will sell 借據給第三者???
! G- b+ s# ?+ Z. KI was so confused.....

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講到尾都係賺錢, C  g* W0 E+ R3 Q" G
so銀行可以不斷放款
& u% R0 i5 o& {: c8 ^4 N& z美國的房貸問題散佈到全世界
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mortgage loan 8 l& R/ m3 Y& t$ M$ u0 F6 C
>conduit8 Y: c0 f  ^8 v1 p9 V9 X+ k7 ^5 x
>RMBS(Residential Mortgage Backed Securities)) b0 d( ~) d0 I4 F, S  {; J  ^
>arranger# N$ ^& ]+ E; g: K: Y; g, I7 s" H
>CDO(Collateralized Debt Obligation)
! ~0 e+ S' A; ~2 S* Y$ G最後去到投資者

Kev

i thought it is the reason of rate of return.& K" l7 ]0 }1 C9 [) h, U4 x
CDs could have different ratings, AAA -> F,% w8 `# e8 A, i6 X( {+ x. s
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 S! x) Q) }, @9 b4 Z# U; A" _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( n& T. g( }- B# f8 Z2 Y- W4 b& b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% O# z& w9 _$ P4 N/ l7 cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 O- \* B+ H/ I. R4 Z4 Z. o( F; n% ^similar to bonds, CDs trading in the secondary market have different value at different times,. |& y- `6 J* Z* ~* D) ^
normally the value is calculated by adding it's principle and interest.
/ Y; L1 }! A' z7 B& m% eeg. the value of the mortgage+the interests to be recieved in the future. - D& \7 p; X, u7 i. n9 n) P  ^; z7 T
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.5 w- ]2 f9 o+ z$ z
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im not quite sure if the multiplier effect does really matter in this case.
  t8 b8 s7 ]! E' l: f$ `in stock market, it's the demand and supply pushing the price up/downwards.+ ?7 O4 Y* O/ x4 z5 _0 I, ]2 O1 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 B- y) e1 c, H* pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 u! ]; u" o3 {% d: Z/ u9 C6 V
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.
: V( k0 P7 B5 t& A( B" G6 Wbut the value of their assets did really drop significantly.
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% t- o* m8 k; K, l, O3 R! 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+ w) }" ~6 ^7 r- g# x2 G2 H& Y
Refer to last example,( Z7 d& Y0 p9 ]: G: A& I
that means bank A have no money because we borrow 10 dollars from bank A
  ?& s- ?( H5 X2 @Because bank A doesnt have enough cash on hand
: G6 [6 C6 ^7 l2 |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 U: D6 j4 r" hA->B->C->D->E
& R7 A% T0 o0 {  zso does it mean if E failed to pay D,
4 H! X4 h' W9 p  kall the B,C,D,E have to go bankrupt?9 \  d% K9 F7 \. e( Z
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the multiplier just tell how much money created in a whole economy, # b& X( d" z& Q) J
in this case it doesnt really matter how much money is created, ' E! a& v" n: E) {& v
it's the problem of the debt itself.3 K0 k" s% E$ l
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
$ y3 M/ P" Q: T! J小弟一直都唔明...! \; j6 @1 S+ [

, z: E$ Q0 @. n# a1 I9 x" H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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0 }6 N- t& v% V' S3 I6 `: h/ G- }. C" z敬請各師兄解答. T9 r; n. \6 q7 a% w& v4 K

' O; Z" b  M) o/ v7 C5 C) wThanks

: ?- Y/ ?* q( c; R4 T% l! W那些根本係 紙上財富  4 E" u3 S+ c- s1 m+ s
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  B8 w  b5 I) I+ D
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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1 h. S( n- [- g6 n# l- e; L- E
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高$ n7 y  \4 h0 B/ T! C
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# n8 _! m* _  T# z2 @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦. t4 r& \& q5 L6 _6 V7 r4 o
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,* Y, \( A& Q+ _0 `; z0 g& M' |
計番回報率就已經係50%,所以可以好好賺  ^6 z7 _9 f2 H5 ]& f
前提係銀行之間要互相信任先可以咁樣借法
1 C. A  f2 }- {* T8 l  ~! S* B2 j同埋個市場既前境要係好先得" {" ^# F8 |4 F. t) X$ b# t/ ]
但當經濟一差,公司估值趺了,物價不升反趺
* v: T/ x- [4 n) s7 b6 s& P例如剛才說10蚊的, 趺到得番9蚊, - Y$ a# J4 B1 a
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ M4 n' E6 j! V2 l8 ^( u$ ^所以你就會覺得D錢好似蒸發哂咁
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4 x: @1 ]/ W" B& E5 a" L: e" Y你都可以當標野咁諗, 個樣野多人可以狂升值, 2 q0 i* l0 j* z; ]
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,
& j. z, h& M9 Y% M0 B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 m  }# ^8 ^, M3 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* M0 _/ B! p+ N$ g) {+ ?
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: w9 J1 P$ r5 l' \7 h# K
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 B6 b/ S8 R7 o2 e- D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 D. ^+ f/ T6 F4 w8 {( v, T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
# D8 U5 s! D& G- m咁你話d錢蒸發左去邊? ...

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) W9 }/ [: U; h) b正係咁樣
# Z! n0 [5 k$ g2 b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
! t% T# V% s- D2 a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,
( N' N( J3 Q8 C/ |連國家都係問人借, 不停發債券, 印鈔票
$ v) H. d; L! m7 ]& b  P一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 V1 k3 `. o" Y5 y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
1 c1 A- N% t/ m咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 z' I$ ~9 t! w因為以前未生產, 先消費
. I9 l* s- ~: |; V而家就要多生產, 少消費