0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 X! O6 O+ \4 r+ TWhy bank will sell 借據給第三者???
6 I/ ?0 Z5 ]! [$ [4 g- xI was so confused.....

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講到尾都係賺錢
" d! {7 L0 G9 m5 t9 u! Yso銀行可以不斷放款9 \/ o8 _4 `) d+ D3 l. m8 n* Y3 F. K
美國的房貸問題散佈到全世界% K% D1 G& k0 l$ f0 r5 F
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mortgage loan
" Q6 a" E# C# i2 ?. o" s- \1 |0 r>conduit
1 b" a% K$ {( X7 X: a>RMBS(Residential Mortgage Backed Securities)
+ h% K* c- z: x>arranger
! S: _+ u5 v. o0 z>CDO(Collateralized Debt Obligation)0 S4 \* U8 Q# D1 e6 u. ]- n9 F/ O
最後去到投資者

Kev

i thought it is the reason of rate of return., o. b; ?5 o3 W9 [# I" J* ]
CDs could have different ratings, AAA -> F,
8 s$ a4 N4 U1 Z+ I; n5 E: M: }' r2 [more risky ones would have higher premium (interest rate) as a compensation for an investment.5 ]8 X" @, T$ o' Q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; |3 f3 i& i2 P: u8 [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 O% F# E2 o. i% vAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* @0 R1 A. i  p9 p+ j
similar to bonds, CDs trading in the secondary market have different value at different times,
1 L/ H7 |0 ~/ ]. O$ q% \: Unormally the value is calculated by adding it's principle and interest. 8 v2 y7 K& L& U/ \! q% D, S
eg. the value of the mortgage+the interests to be recieved in the future. 7 D% k. D" y6 z) J
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 H+ U  y2 i* c( ^- m  c6 Q% T; ~im not quite sure if the multiplier effect does really matter in this case.  t" b7 \# m% {* L
in stock market, it's the demand and supply pushing the price up/downwards.
# C* U# T5 e4 S* V0 j1 ?7 }. QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! ?" _3 [+ u6 X1 I" B9 y  b) k1 |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% ?5 A/ N/ q  w* Q4 MThe 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.
! ^% E' s. c% j/ y; ibut the value of their assets did really drop significantly.  G: @1 H3 l, V5 V) L. e
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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  l- m8 y$ P5 v8 C4 K1 Y5 A
Refer to last example,; G, |' Y* y/ j# k( l
that means bank A have no money because we borrow 10 dollars from bank A
0 e) Z! H# p7 a5 U+ b/ o* pBecause bank A doesnt have enough cash on hand ( M& `1 {2 R4 a+ U+ v5 }/ d1 `  P& l
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
, }* v; v0 B3 \so does it mean if E failed to pay D,
$ j; p! w4 e' M; A) ]all the B,C,D,E have to go bankrupt?7 E/ C% v: G$ z0 A
: a6 G, M( b6 R) o; U

9 q' K2 H6 c6 mthe multiplier just tell how much money created in a whole economy, 5 w' H$ w% t! E$ t
in this case it doesnt really matter how much money is created,
+ V+ C6 D: a8 z1 fit's the problem of the debt itself.
9 _* ~$ V6 j+ u; Athe 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.gif6 o6 Q& B6 c2 Z  a$ Y/ y) y
小弟一直都唔明...# L" E: D5 W. C' r6 Q  e

& A2 u( ?2 \$ b9 C8 s7 N- z全世界都蝕錢，咁邊個賺緊錢呢?: [7 Q4 {8 a2 I' l6 k, o

- A& O, |& L/ `. W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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3 D) L2 f, N0 m7 K1 u' EThanks

% w( g/ o7 M) W* p$ n& f' k3 b0 U那些根本係 紙上財富  
; z/ N  c$ P: b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) Z- H0 G7 D, F# k3 g4 x
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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
/ a  Q! r1 A/ X" ]& J( p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: [5 a' Z3 I, F, u% D1 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
6 {# M2 h9 ?$ [2 D! Y/ e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) u$ ^) X7 D) s扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,  Y1 W: B$ s' W7 e. i0 E) S' X1 {
計番回報率就已經係50%,所以可以好好賺
$ g* z. x- `4 e. U2 J( W$ Q前提係銀行之間要互相信任先可以咁樣借法" M9 F4 N5 w" ~) H
同埋個市場既前境要係好先得% Y4 E/ A- l! \& o. A& b& c# ^
但當經濟一差,公司估值趺了,物價不升反趺$ w# Q' y1 O' Z8 Q4 u) O5 a3 p) }
例如剛才說10蚊的, 趺到得番9蚊,
3 I, [, L: T, M% B9 y. w咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' i8 w+ k1 k" j* B9 k; }; p' L) I所以你就會覺得D錢好似蒸發哂咁  }- V' h# e" ^

. ~7 W- G7 Y% d+ o. Y你都可以當標野咁諗, 個樣野多人可以狂升值,
5 {4 D6 R5 d4 C* l$ p  s3 _8 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, # Z' d# a) T/ W, Y4 P1 z$ x5 W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ h; ^% s" ]" r  g, l: l6 d0 d
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$ l9 v' {5 F5 ^( m
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
$ ]2 ~7 b# v" u- Q& i( A唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 F4 l6 W$ ]; A( o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 L( S' O  z/ M3 [. N& 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
- o; e3 ^: G; m' P' R0 Q6 u咁你話d錢蒸發左去邊? ...

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% F: e4 ^: i' j! w5 Y. K正係咁樣
1 I0 |9 v0 i% O0 k! ^+ ~' N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
. f9 r) s9 V0 H% u( `# f$ Z( F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,
5 j- S% y8 Y; z+ U/ [" H連國家都係問人借, 不停發債券, 印鈔票& S( R# P! N4 Q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( C7 O& j) ]8 }7 |) @  b  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  Z  d  i) ^( p! Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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& M7 T0 X- H. w) y其實係...
, ?2 N% u6 k6 c0 v  f因為以前未生產, 先消費* s3 l  G: m( g1 q8 o  ?
而家就要多生產, 少消費