0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% i, x, h8 U/ ^$ q, xWhy bank will sell 借據給第三者???# u) P5 l' T& \( v# k: o
I was so confused.....

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講到尾都係賺錢8 R: _; A4 x! b" o. |3 Z
so銀行可以不斷放款
, }3 Z9 m0 q$ H9 F1 R% b美國的房貸問題散佈到全世界
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mortgage loan $ R6 N/ X% A# ?- o  t- I! ^3 @4 R
>conduit
) c/ X( O; M: W; r# f( X>RMBS(Residential Mortgage Backed Securities)  ~5 g! g: v/ V2 K/ Y/ k; }% F2 x) k
>arranger; y) ~9 O; Q+ }2 X9 v
>CDO(Collateralized Debt Obligation)
) y! v6 N: R8 s8 C8 \最後去到投資者

Kev

i thought it is the reason of rate of return.
" b6 q. Q; Y. A' v8 s+ fCDs could have different ratings, AAA -> F,
/ H, W$ j6 N2 M& A( zmore risky ones would have higher premium (interest rate) as a compensation for an investment.6 e5 V, Z/ P2 k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ y6 t  s, Q! o" z" |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: K5 u, V- u( U4 d, u8 v: n  ~1 v0 q+ \: G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., l; {! P* Z/ T
similar to bonds, CDs trading in the secondary market have different value at different times,
5 G7 [8 {$ b# x/ p' xnormally the value is calculated by adding it's principle and interest. 3 H* D# I8 \2 H  `$ S$ H
eg. the value of the mortgage+the interests to be recieved in the future.
/ c0 |' d, o! c, n( l) ubanks 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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7 H* ~4 z4 M; _# o! ]im not quite sure if the multiplier effect does really matter in this case.
0 M! b* L. }$ [0 gin stock market, it's the demand and supply pushing the price up/downwards.
8 l/ c7 `/ c4 l9 ~7 v+ TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! R/ B8 t, j  {! {$ Z, hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 n" `; ]( }2 w" X
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.
" \' J& S% \3 x* x- x, }4 Ybut the value of their assets did really drop significantly.
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% O  A( S# m3 v[ 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& b/ Z$ J# v/ O* ~
Refer to last example,1 ?1 ]; D* v$ C3 c  \
that means bank A have no money because we borrow 10 dollars from bank A
$ h2 P* ^- e4 @* M1 t& zBecause bank A doesnt have enough cash on hand
9 I. A/ \% A3 @therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- I- [* e2 m. ^6 |5 C
so does it mean if E failed to pay D, ; M3 A6 C$ k) @, t
all the B,C,D,E have to go bankrupt?' g0 s/ Q6 h# v: g. ^
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the multiplier just tell how much money created in a whole economy, 5 c% l( o: n3 m1 U
in this case it doesnt really matter how much money is created,
1 O! t, x$ o7 W( Y+ ?  d; [it's the problem of the debt itself.
' U0 q3 w+ a0 I# _; Fthe 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
/ e, K# L$ w1 m  ^- C/ H0 l8 m小弟一直都唔明...* t0 g* y% f  o

2 N" N' M9 f3 K6 f) u; M全世界都蝕錢，咁邊個賺緊錢呢?6 K  i2 C) U) R. N
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無可能淨係有人蝕錢無人賺架嘛...# B0 ]6 O5 |/ Q& o) }0 ~3 k+ a

( I8 {8 {$ d( E/ E; o敬請各師兄解答
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Thanks

* m, c% T$ Z/ y8 R那些根本係 紙上財富  
: u; t6 l  q. c; o0 Q2 N0 ]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/ I" J5 T3 z2 J/ S% W. x( d4 w
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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
" t9 C, j1 \* T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高" N) A( F; E: b' Y1 `
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5 Y  w* }5 O' ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: H4 R/ L( N. w* m" i; ?扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& g4 A/ h3 [) k" X+ v計番回報率就已經係50%,所以可以好好賺
2 ?8 X; s1 m$ [3 j9 W前提係銀行之間要互相信任先可以咁樣借法
: @8 w; K8 h. n同埋個市場既前境要係好先得
' R1 O% B! M  N3 y$ W$ h/ W但當經濟一差,公司估值趺了,物價不升反趺! {4 z4 s' l+ k+ a3 {1 R
例如剛才說10蚊的, 趺到得番9蚊,
6 h# a4 A; `( x# E. ^' E咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 T: d8 i) j+ [+ u8 Z所以你就會覺得D錢好似蒸發哂咁* [+ U" k4 `) b! z' v/ B: F
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( D+ o+ l( G3 `, C( b! b
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, 7 w2 w' I- Q: |* y  {8 T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 K" M3 k( a  v& V' N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
7 y+ V' c3 Y5 H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
: t/ s/ m9 S& g0 V唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 N. s% H9 T4 V- J) s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) @, Z# |) ]# O- W4 K
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6 ?2 ~) b* H) |; i( d& c
咁你話d錢蒸發左去邊? ...

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, l( t( y( @- e' H4 Y0 h正係咁樣3 ~" o' P2 A3 t9 c8 [3 x3 _. {
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! _5 Q; u; H
分分鐘佢地唔使還錢
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: R2 ]+ c' Y* i$ s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,
+ D- ]) G' u& z$ O! q# {+ D/ e0 a連國家都係問人借, 不停發債券, 印鈔票
" a. E  |0 f! i; P2 {4 a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ ~" p9 w1 p, Z
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
1 Q! L! i! S* ]  x咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 ^6 w! [6 _1 T0 H/ ]2 g2 h' [, E其實係...
' I3 h& I. j% B9 M- m/ C! Z因為以前未生產, 先消費" {. Y- P. i, X- S3 [- E1 [+ [; ^
而家就要多生產, 少消費