0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' F3 E! K* S! _8 f+ w; Z; ]
Why bank will sell 借據給第三者???
, t) T5 P+ t  _/ iI was so confused.....

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& n" L6 C# d  P7 q; B( w" K! J講到尾都係賺錢
( ?+ ?3 U5 H3 H+ }' ?  zso銀行可以不斷放款
4 `6 `, |, e$ Q  X0 G. t美國的房貸問題散佈到全世界
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8 b7 X) {/ c( `' @: zmortgage loan 9 w" w, s4 Y3 e
>conduit" r: ^4 ~- `3 J3 o
>RMBS(Residential Mortgage Backed Securities)8 I" F- M: y0 l( S- c" G
>arranger, y% S$ f. c" ^: @9 F) [% p: p
>CDO(Collateralized Debt Obligation)
% w4 N( {# m$ x2 p" s最後去到投資者

Kev

i thought it is the reason of rate of return.
3 g) Q& Z9 I! b1 u4 f+ k' p$ UCDs could have different ratings, AAA -> F," c* e5 q  G- p5 y1 K" w5 W) K
more risky ones would have higher premium (interest rate) as a compensation for an investment.
. b8 d# g. X7 \& |main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; ]! D- G- K* U6 P1 D% K& m8 @
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 d" x% ]- s, {1 K: u# s  m8 |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% D" R' y. P1 P+ O% P! c
similar to bonds, CDs trading in the secondary market have different value at different times,3 r: ^- o9 d( Z  b2 i+ L7 N" b: j
normally the value is calculated by adding it's principle and interest. - l4 o8 D( v; t( u& L+ q5 A$ a4 i' j' H
eg. the value of the mortgage+the interests to be recieved in the future. ( K! Z- Y, o$ i2 [
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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5 t: ^( P* f! c5 r; [6 Pim not quite sure if the multiplier effect does really matter in this case.0 X) o2 y' l  ~/ `7 x% q; y9 E
in stock market, it's the demand and supply pushing the price up/downwards.) J3 ?, ~% h" U* I; @
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ T% t  D8 p- X* z. {( IA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; R# b8 _4 E2 X7 o
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. # P' Y: A5 @# b5 u1 H  w
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
9 h" |& j: t  G$ @3 FRefer to last example,% U% [9 p" c- V% K
that means bank A have no money because we borrow 10 dollars from bank A
" l# x  k1 o& ^: B7 RBecause bank A doesnt have enough cash on hand ( M3 Q/ Z" N: E& f6 `
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& K5 i* f1 g& i, d% ]! h2 H( Y
so does it mean if E failed to pay D, * A3 V5 i6 L. R. x, Q, l
all the B,C,D,E have to go bankrupt?, h  Y! W5 Z+ H; c

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" C3 P7 v8 P6 j: w8 V6 q. e: i& sthe multiplier just tell how much money created in a whole economy,
7 ]/ H9 |2 |9 o0 Gin this case it doesnt really matter how much money is created,
9 J" G  @* v; e' m' r0 F5 }it's the problem of the debt itself.
- [3 n# k! I* X' O0 Ithe 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.gif5 ^0 J! C$ f9 Q1 C( X$ q
小弟一直都唔明...
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+ ]! M/ X' \, O全世界都蝕錢，咁邊個賺緊錢呢?% S# n! w& d# Y% W

( \) j$ q: B, |; I: ?無可能淨係有人蝕錢無人賺架嘛...* A+ q( j6 T. I

$ E, d4 v/ d2 S6 }3 e  s敬請各師兄解答  {7 r4 F  S' ~

/ |9 J3 i( J/ j8 s& g0 a& J! H! KThanks

: i5 }; \! |8 W4 l% i! ^1 o1 W那些根本係 紙上財富  
' p7 y8 P0 G# q) I* L3 q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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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
# |3 s5 }3 g5 c1 B% C  ?- I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' j8 W3 a' L2 o3 y) F3 p+ N
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( t! a) g9 A! @2 b" k* S
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ o( Q$ }% `: I6 C$ A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; p% U4 B2 I6 A; p
計番回報率就已經係50%,所以可以好好賺
& P. f3 d5 M% F3 C4 ]1 G0 [前提係銀行之間要互相信任先可以咁樣借法
2 a! s: ~- Z: i# w& V同埋個市場既前境要係好先得
" o, y2 q% q" r, @+ N3 b但當經濟一差,公司估值趺了,物價不升反趺1 ]' v( G, t1 l" G
例如剛才說10蚊的, 趺到得番9蚊,
  O: y9 ^- q! L. m' ?0 m) p' [咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% @/ A' z: b( U$ u9 T
所以你就會覺得D錢好似蒸發哂咁2 z/ ]! s7 h. I  E1 ^
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你都可以當標野咁諗, 個樣野多人可以狂升值, & ?- S. k7 d4 ^. U) w3 c0 w/ 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,
5 s, R' O6 t6 U$ ?! X9 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: q5 r2 Y0 {/ _9 w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% K; @' d' u# q5 Z+ ^) w
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+ k8 l( x" ~2 M, U7 J' q$ F7 S
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . [+ ?& R8 e$ H: i7 v  q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" k' T$ T4 t3 S- \$ h2 `1 B4 H' y8 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
0 D* S; Y/ W4 f7 k" g咁你話d錢蒸發左去邊? ...

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正係咁樣4 ?5 T6 r' k9 O7 Q; ]
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
- l* A$ K2 B% {6 N分分鐘佢地唔使還錢
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9 k) @/ x, {  v1 n0 U. C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,
0 T6 L, u7 _& G. N連國家都係問人借, 不停發債券, 印鈔票
" D- H: L; y7 p8 h( K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 X8 }. a+ V  K6 F* I* N! b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
) L* [1 y- j% o' T; d咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) K$ X* \, P: F( z  t" P2 H
因為以前未生產, 先消費8 o9 z+ j" R* @% `( G
而家就要多生產, 少消費