0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: i$ t% o% j4 i  F* {) X$ z& C  PWhy bank will sell 借據給第三者???
8 J' T7 k+ W4 v- B7 GI was so confused.....

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講到尾都係賺錢
* Z, k; C8 V# z. J( P- sso銀行可以不斷放款
; t" R) i/ J* q, f0 c/ d( z% {, E美國的房貸問題散佈到全世界! ]+ e6 ~1 E, T/ u

% M7 }5 z( p0 f; m9 N' zmortgage loan , l) n8 B4 y* g5 f
>conduit+ M: W3 [, ]6 u- l' f
>RMBS(Residential Mortgage Backed Securities)5 Y" f* w6 m9 {6 v. L' C
>arranger
7 M; h) ?" n0 O4 S! c( q4 c>CDO(Collateralized Debt Obligation)
! S8 d/ _6 s7 [7 s: y' y% _最後去到投資者

Kev

i thought it is the reason of rate of return.( I% q8 i+ i0 m% q( K% n- K
CDs could have different ratings, AAA -> F,+ t4 O" k% ~9 P. f# Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.. g& D$ J1 i" H9 z: K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 Y! o) [1 V; ]1 M& _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., M, U' n2 R: c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 C7 Y( J, c4 Z4 T5 xsimilar to bonds, CDs trading in the secondary market have different value at different times,$ Z2 f3 |+ B# |
normally the value is calculated by adding it's principle and interest. 5 [( g- w+ N% d$ c+ x
eg. the value of the mortgage+the interests to be recieved in the future. + d- ?- e0 f& B+ g$ 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.4 ?# z% p) D" e# H

# I' S7 O" g$ i" g0 ^& eim not quite sure if the multiplier effect does really matter in this case.
" Y+ @# N8 X- s0 I( B# qin stock market, it's the demand and supply pushing the price up/downwards.
( t/ [. C: M+ ~8 e7 ?For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 g8 P4 e7 ^8 [! M9 O/ b/ ]- [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) E) b( s4 d; w( B6 Q  nThe 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.
0 [" D( u$ G; F7 @7 [but the value of their assets did really drop significantly.% W7 x4 W  X' ]1 `
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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.gif2 v. ~7 e8 l$ z3 h5 u+ Q
Refer to last example,
( C  k0 X2 c! }+ f' Lthat means bank A have no money because we borrow 10 dollars from bank A
8 g" \& i) ?6 }8 Y5 ^Because bank A doesnt have enough cash on hand
3 B% s2 x! @6 Jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 E* Y8 A7 ^5 q5 V$ h7 k( aA->B->C->D->E6 Z( d9 l; ?$ l' z& C
so does it mean if E failed to pay D,
% n( N5 \. a9 X2 wall the B,C,D,E have to go bankrupt?- Y6 e- w. `3 h. j
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7 \% ?" F8 j7 z1 B% Q0 R- ~5 Lthe multiplier just tell how much money created in a whole economy,
) H. H9 F  e; K" Iin this case it doesnt really matter how much money is created, ( N( S0 T; P) Q4 s+ n
it's the problem of the debt itself.
& b2 W* c6 t( n& r% s: z* I2 Ythe 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
2 b' h7 H% o! N7 i% D3 e小弟一直都唔明...
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. T3 @$ v8 U  \3 q( f全世界都蝕錢，咁邊個賺緊錢呢?- r+ B% E, C) Z
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無可能淨係有人蝕錢無人賺架嘛...- P. x+ F0 ~4 D4 ]2 z

; p3 F" m3 H/ s; L" C敬請各師兄解答
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8 E0 C. c' v5 r0 m' }Thanks

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那些根本係 紙上財富  1 d/ W: H, b" o$ w$ L2 n2 T/ W: P
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
# f" Y( d6 @0 T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% f- z, P- a$ J5 T- o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
2 l& K5 V+ D/ w2 j  c6 ^/ [1 I個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. \4 m3 c3 B; Q: y: i& n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- H- L0 Z  a$ t, `9 u9 i
計番回報率就已經係50%,所以可以好好賺
% Z: O8 X* X: y# ]  U. }$ Z# s: ?前提係銀行之間要互相信任先可以咁樣借法4 w# q  U. z! `" M" h
同埋個市場既前境要係好先得$ O- n8 V9 K: [/ g1 {2 z) c7 @
但當經濟一差,公司估值趺了,物價不升反趺% O, d" Z* |$ @& ^
例如剛才說10蚊的, 趺到得番9蚊,
" L) o( a9 f4 X咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
: H+ @& E2 x+ z  A. I( ^$ g所以你就會覺得D錢好似蒸發哂咁
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1 d9 a4 B+ r8 I& q/ ~  G你都可以當標野咁諗, 個樣野多人可以狂升值,   y  t$ n0 d7 w* v6 B7 Q
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, ! u8 k" R0 L& R8 r: h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% s9 {! V' C* ^' I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
) S* G, u9 Y9 [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/ x4 f* w  L- C, c
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! w5 x  ]1 ]) [. I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- F$ [* a& Q% P2 W: I+ j$ Q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
8 d$ S! ^9 o8 Y/ N( G+ l8 N咁你話d錢蒸發左去邊? ...

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正係咁樣8 y. |" m8 i# ?2 I: T% D
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# x+ {& g& C3 H1 p+ L
分分鐘佢地唔使還錢
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4 R$ B& g: W- U# X) \- F2 Q$ v9 T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,
: M3 V$ I' o( T6 j+ x連國家都係問人借, 不停發債券, 印鈔票( f" ?4 F0 M3 i2 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 |2 P# E. X4 Z8 h1 J4 `1 C! \
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
9 E1 D, H) L, B% s咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! e% F& |' K6 t4 t2 V$ m4 o
因為以前未生產, 先消費
# {+ E, L+ H9 h+ _9 h& v而家就要多生產, 少消費