0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 ?2 `& Y8 B& FWhy bank will sell 借據給第三者???4 D) R: T, [* i3 N2 M* ?, N! s$ h
I was so confused.....

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, E- h7 m9 Y  Y8 i+ D講到尾都係賺錢
; t$ ~$ w; h& N7 b, hso銀行可以不斷放款
, H1 _0 [% ^8 o美國的房貸問題散佈到全世界
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5 s- y- w! s$ t5 r  m  Nmortgage loan 0 X9 _6 f0 ^7 U5 @4 n8 O
>conduit' F2 A/ b. L; l6 L
>RMBS(Residential Mortgage Backed Securities)& v1 {" _7 P) X- P8 w
>arranger
8 s$ b: p$ H/ P: b" w>CDO(Collateralized Debt Obligation)0 X! x# D* |3 K9 ]$ [
最後去到投資者

Kev

i thought it is the reason of rate of return.
9 V2 @, |5 p5 j5 Q9 ~* ICDs could have different ratings, AAA -> F,& _7 |- C5 A! _( _! i
more risky ones would have higher premium (interest rate) as a compensation for an investment." O% _) c6 D/ r' u* |  t( y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# ^: n1 E, B* t; tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ e$ Q) G/ F; N9 u$ B" g# `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 x# d$ \/ p( e2 g- i1 e& @similar to bonds, CDs trading in the secondary market have different value at different times,' n! e4 V5 B- A4 B6 P. F8 B
normally the value is calculated by adding it's principle and interest.
; }: c2 E8 N' O6 j* F+ E; z  Aeg. the value of the mortgage+the interests to be recieved in the future.
( G9 W) Z' f) m/ Z! I% s+ Sbanks 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.# T+ i/ \& X" o7 V. K2 r; ]/ z1 F; u7 R

% z3 m! [- k: Z$ r- w1 [  v; fim not quite sure if the multiplier effect does really matter in this case.7 a* N1 e4 e, j3 m$ l" O, \
in stock market, it's the demand and supply pushing the price up/downwards.
5 E& S2 X# w" s$ R  ~2 HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," k) _  l) U+ e. C/ x; x
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% X2 g! L/ r' A# e1 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.
5 C) w* S. f3 p: K4 @but the value of their assets did really drop significantly.
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$ K' Z* X) `8 C; @1 A[ 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* k5 K  l: I+ @" H
Refer to last example,! z% e4 q5 \0 I% h8 }
that means bank A have no money because we borrow 10 dollars from bank A
- a& w& l7 c2 i4 g, U3 JBecause bank A doesnt have enough cash on hand
9 B& X: Y4 Y, ]/ {; Ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 o* j3 c  w$ S" E! Y. p( F( w" A; eA->B->C->D->E
" \2 J9 ]1 r; Rso does it mean if E failed to pay D,
( r2 r3 n9 L1 }( T* d! n* aall the B,C,D,E have to go bankrupt?
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; P* H, o2 ]) |4 I% Lthe multiplier just tell how much money created in a whole economy, # S( O3 i- \. g) f- i' N; @+ d2 R! J
in this case it doesnt really matter how much money is created, 3 f5 A8 o) _- m) M5 j# j/ ]- T
it's the problem of the debt itself.2 m1 a  j( ?$ k4 K" S1 h3 q( q. p# 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
9 D- _' a% K; B5 u! m5 M! o小弟一直都唔明...8 w1 K) `1 j* {' j# V! o

1 Y4 e/ w6 k6 v' |全世界都蝕錢，咁邊個賺緊錢呢?
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/ _$ X; r: F* y% T. T9 ?: l無可能淨係有人蝕錢無人賺架嘛...9 [9 T7 A$ m- I6 n! ^, }
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敬請各師兄解答* o! Z( D; j+ o3 h& u% U8 l7 Q1 S

# h1 ?0 U8 \; M; E8 fThanks

* j- R9 C% t* r- e  B那些根本係 紙上財富  
$ L" E  t" J# q, n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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) J7 x* N( j0 m7 K3 b% V9 p' fhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
" @) Y8 l" v% g8 Q9 `8 y4 d當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 [8 D2 v) P$ F
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( f9 Y5 e9 e  d) w  a4 o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- j: x! Y7 B8 Q5 Y+ X! }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 ?4 D) d7 u+ E5 v  A
計番回報率就已經係50%,所以可以好好賺
( i) u* v; Y/ B9 u前提係銀行之間要互相信任先可以咁樣借法
, `, K* x3 @( Y同埋個市場既前境要係好先得5 T3 J% B% P7 A; T1 I- K( X
但當經濟一差,公司估值趺了,物價不升反趺
# o2 g9 I* P/ d例如剛才說10蚊的, 趺到得番9蚊, 0 C5 y. ]& D1 x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 |5 ^2 O, B) |& Y+ p  P' O. Q
所以你就會覺得D錢好似蒸發哂咁% C" e0 s6 @1 J: u! w+ m
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你都可以當標野咁諗, 個樣野多人可以狂升值, % m' y* f" f  e- Y
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, 9 i' r  l4 h' T7 g3 ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* ]5 z* J9 |# ]1 V; G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1 l; b. I9 X+ B0 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
# j6 k3 K& L4 U5 q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
: R6 L8 s" e6 R6 l8 w+ r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # [( ?& p# M2 Y+ e# V1 g9 P
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+ G5 p. \7 @5 M% A* P
咁你話d錢蒸發左去邊? ...

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* F2 r% q  v+ W1 T# i" r6 B, k. ]正係咁樣$ M& M! i! b' Q: E& e
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- ?! J  x& n6 J% B" C2 [( v
分分鐘佢地唔使還錢2 u, X# a# F+ V2 j4 J. ~
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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,! h7 W% T: _! n* n. ?" n; t2 e! @0 w
連國家都係問人借, 不停發債券, 印鈔票/ Y" u  T' }1 Q% ?
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ O' C$ T" W8 `% g0 m( P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+ g. c2 [5 y( |2 ]
咁而家"爆哂煲"算唔算先至係變番"正常"???

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; z2 q$ g# Z7 V& H其實係...
6 X, i% a" r8 j- |# G因為以前未生產, 先消費5 R: N- g# P; z; R' S& p
而家就要多生產, 少消費