0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 i; Y$ R- h. x6 M6 t$ j2 P
Why bank will sell 借據給第三者???7 [2 _/ A! K. @/ p3 D  |# X9 s8 n8 j( O
I was so confused.....

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2 b7 O* L' m1 u1 M" r6 w講到尾都係賺錢: X: M4 y" ^( d. l0 T: w" Z
so銀行可以不斷放款; ~7 L4 O# ?/ r# f4 y5 ]4 k0 e, n
美國的房貸問題散佈到全世界
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mortgage loan   F; h, b/ w9 h6 c' X8 w
>conduit# `" a% E0 @( w0 j) z( S/ q6 X0 A7 B
>RMBS(Residential Mortgage Backed Securities)* q; n1 r2 t( \* S, [( l
>arranger" g9 A/ a% S; W+ {3 W; z* Y, |0 s
>CDO(Collateralized Debt Obligation)
9 ~  y: n- D& O4 k& ^! O. s最後去到投資者

Kev

i thought it is the reason of rate of return.
4 \% q! \1 E- T" E  k2 R1 X9 {CDs could have different ratings, AAA -> F,
3 b6 d% w0 q6 u$ kmore risky ones would have higher premium (interest rate) as a compensation for an investment.- K2 B0 F3 k8 G7 n6 G! S$ W! {3 w' U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  u! Q. f  G3 ~' \in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 e$ h/ {5 Y$ l( eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! z" z. r- ]% f# |& c
similar to bonds, CDs trading in the secondary market have different value at different times,
& a) u) z( z& ?! T1 a7 `# Bnormally the value is calculated by adding it's principle and interest. 5 N  s. d: _+ O7 h4 V
eg. the value of the mortgage+the interests to be recieved in the future. 8 ^6 x7 {* F3 j6 f2 _/ Y: p
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.1 V0 H2 h* Z9 u7 X+ D

: h8 m, T  n( @  S( }# b7 aim not quite sure if the multiplier effect does really matter in this case.
7 P  J* z$ E1 _# o" ein stock market, it's the demand and supply pushing the price up/downwards.2 R3 g4 u% Q% f8 }3 e) \) X# H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,% u, L$ ^; s0 P) Y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; {' V9 c7 X7 F/ bThe 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. ! {/ g, o4 T; y0 k; c5 A, U9 r
but 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
3 E7 o$ e& X2 aRefer to last example,) ~6 x# C. R0 O
that means bank A have no money because we borrow 10 dollars from bank A
; j. f0 w3 J: E9 b  z, v( QBecause bank A doesnt have enough cash on hand $ d) K  _* H! L3 O& W8 j- Z9 V5 `
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
2 e8 @/ W7 I8 ^/ A3 hso does it mean if E failed to pay D,
- k, x% m1 T# c2 ?all the B,C,D,E have to go bankrupt?; |/ W) F; N) R  A( C! ^- I( e  o1 U' K0 z
: ~( _- T+ \2 f& ~

, U9 N. I; A2 A) [8 L% tthe multiplier just tell how much money created in a whole economy, - |9 C) L: I0 ^3 o" F( o2 B* i
in this case it doesnt really matter how much money is created,
2 c8 n2 b# {7 sit's the problem of the debt itself.4 t9 J& z( @' W! d- H9 Y. i
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
  ]0 ^6 i2 Q, w小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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) g/ ]; x* u& p: d$ k無可能淨係有人蝕錢無人賺架嘛...5 w* F. T, Z4 k& w

4 q7 Y/ t; w  ]3 F敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
, \4 V8 h* J& M3 `5 x3 ^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- d, U( P) |! E( D2 M7 ^

4 t# Q: N0 b, mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, H0 q7 F% q' q8 q- O$ w# q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ I9 @3 M' ?! P$ }* G2 v* 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& h# K  `5 R5 Y4 v- P6 w+ H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) L% V2 J3 A. M5 O
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! B3 b2 ]* _% [7 E0 o計番回報率就已經係50%,所以可以好好賺
6 Y3 \  B$ E8 d' \前提係銀行之間要互相信任先可以咁樣借法# L' J+ E2 [/ `( O
同埋個市場既前境要係好先得  S( ^5 H5 A3 K: M
但當經濟一差,公司估值趺了,物價不升反趺
+ l0 Q  V- i5 t3 W- @例如剛才說10蚊的, 趺到得番9蚊,
1 ^* r, i7 W% d$ G& u$ C咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% s1 M1 I/ E/ L9 c$ l& C所以你就會覺得D錢好似蒸發哂咁
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/ a: _8 x& ~8 Y7 e8 n你都可以當標野咁諗, 個樣野多人可以狂升值,
9 }& G# D4 r) }0 a' s5 @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, " I/ F  }" q% P& c* d. S# E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, ]+ q: [0 \: M; [0 x7 g8 C8 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5 n8 O( |; I6 c" [' P0 m; C% T5 j! w: k
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
! z: |8 e$ h- i' i! w4 p& m唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! H3 b5 z4 z: v7 }! E
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* Y- l% a3 w  b  p2 ^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
' S1 {, i5 X6 R# Z8 F& u, N咁你話d錢蒸發左去邊? ...

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正係咁樣
( s6 x* b0 B# J) U; j4 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
4 w( |) s6 b0 v( j' W. F' x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,9 J8 S& e7 C6 W2 s" C8 A
連國家都係問人借, 不停發債券, 印鈔票
5 N- N" o" ~7 J7 W8 u一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 S5 Q$ F- L" S1 T; I
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
0 ^! ?6 N2 z! K! ~3 X7 E& W咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...5 _* o/ ~  z* x" g/ k- a
因為以前未生產, 先消費/ b' p% O  w$ K3 P
而家就要多生產, 少消費