0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 s4 }2 J: t2 m5 J2 ?
Why bank will sell 借據給第三者???) R0 d( ~% K* J3 n3 n) C1 s
I was so confused.....

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, j* [$ q( \% P5 o! S( F講到尾都係賺錢
0 M7 ~9 E6 F1 X8 Cso銀行可以不斷放款
' W3 ]# }" ?. G美國的房貸問題散佈到全世界$ T/ L" a& D) T, G# a0 j  y2 _: s& p

2 Y6 u4 G2 n, x5 Kmortgage loan ( e: g: I- @- s! e8 \4 W
>conduit
' V" l9 k7 P4 C! C* {* b  E>RMBS(Residential Mortgage Backed Securities)
4 M2 e- i9 @" g( {& P>arranger7 E& W9 Q5 e* d
>CDO(Collateralized Debt Obligation)
( G8 w& i% |4 J5 V7 K/ K最後去到投資者

Kev

i thought it is the reason of rate of return.
( T3 V: T5 O' \CDs could have different ratings, AAA -> F,
+ @4 D9 C, D+ O" C% nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) C4 s+ U% s- n" Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! o0 M0 Q: i7 I; e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 U! I& ]3 e6 D* a; [. eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., x( N6 m+ F$ {$ w7 R  |
similar to bonds, CDs trading in the secondary market have different value at different times,
( I) B! t) S5 _( N% wnormally the value is calculated by adding it's principle and interest.
1 g8 d- Y. I& J" }eg. the value of the mortgage+the interests to be recieved in the future.
3 \; \; W1 E7 K- U+ Rbanks 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.1 [3 C$ _# f' H. U
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im not quite sure if the multiplier effect does really matter in this case.
. W; [( {! M3 p" d4 S" o4 cin stock market, it's the demand and supply pushing the price up/downwards.  H& s: Z$ R; b7 U# r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 g$ m( @1 i; S, n0 @$ L8 W8 s: z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ s6 Z  J& v( ], R8 B
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. $ ^1 a9 l* S+ L3 Z  z
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
, z. V2 F. F5 w+ LRefer to last example,( V! k5 f6 {$ m1 ]: b! A) d
that means bank A have no money because we borrow 10 dollars from bank A & g' [- O  F5 w5 I0 Q
Because bank A doesnt have enough cash on hand : a" A. t: B2 A) Y" W' y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( l3 A9 L. I! u. C, a& [' _* i) RA->B->C->D->E' X# h6 ^: r, i$ o
so does it mean if E failed to pay D, & r) L7 D5 N9 X$ b& k
all the B,C,D,E have to go bankrupt?
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3 s1 e% u* p5 W7 M! ]( B
the multiplier just tell how much money created in a whole economy,
( q. }7 |  M2 i2 W6 ~in this case it doesnt really matter how much money is created,
9 R8 _2 v& v* l/ |) j9 V: \' Lit's the problem of the debt itself.& q1 P/ [4 l7 W$ l# }
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
/ H4 x2 @0 ^7 h& f- m4 n小弟一直都唔明...- H+ R7 k+ B' d$ g3 [4 v+ n/ h7 D9 w

5 Z/ j, p$ z2 u7 R全世界都蝕錢，咁邊個賺緊錢呢?* m9 X! u* x2 X5 V
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無可能淨係有人蝕錢無人賺架嘛...+ [+ O* h7 P1 T( {& x

0 _, e* f: H4 X) F0 T: t1 _敬請各師兄解答
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Thanks

% _# a6 i' s' q" S
那些根本係 紙上財富  
1 u+ d- J  k% o6 a9 p* F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 graphic4 c' v+ m: q% U
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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+ Y7 x5 M* Y+ S& V2 @% C& z, U) V2 ~. R. n
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. S* P+ N$ N! d) a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 R/ ]6 V; [+ V1 ]2 l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& j# U( r+ B( @2 p. O扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! [2 |" I% k& E
計番回報率就已經係50%,所以可以好好賺
/ F1 _& l7 j; D; {. \- w前提係銀行之間要互相信任先可以咁樣借法
2 m' s1 n9 Z( }同埋個市場既前境要係好先得
& n' k5 B& p+ ]2 @1 k8 m但當經濟一差,公司估值趺了,物價不升反趺
! t. k, L+ |4 G* K- W例如剛才說10蚊的, 趺到得番9蚊, # i3 g8 }* ^( Y  w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" f. ]0 g3 n/ m% D- g9 ]! R所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 2 j/ {+ X3 S1 Z6 k- O
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,
  g* l2 b( o3 i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + }9 d  \9 b' M
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
) j- d( v4 W6 ]# |3 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
  s- E9 |! {  n唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; g+ M  w3 R4 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & B: L: h6 _: S* l
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 A. I5 A2 R4 y0 [咁你話d錢蒸發左去邊? ...

* x* `" B, |! B  [# ~: M/ \  x) ?) U- _
正係咁樣
$ n- a' H1 B: h/ 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
4 M! n! _5 S( u2 ]% S( P' K* ~. u分分鐘佢地唔使還錢
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5 `5 n. m$ l& U1 _0 J- W& b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,- R( `9 x' }7 c. e3 x4 k: z
連國家都係問人借, 不停發債券, 印鈔票2 k( I" }2 p. c# @, [" ]. T* E
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& l( J, z3 O: }4 ]$ [: R2 s
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.gif3 {1 ]+ W- E  T$ H* M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
4 R7 G$ Z, f! I! p  J因為以前未生產, 先消費
) _+ N; Q2 x6 s: A8 i$ H8 `而家就要多生產, 少消費