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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  W) U2 s% }# m& v" c8 A8 U) oWhy bank will sell 借據給第三者???" {9 J3 K8 E0 n" u- y. P
I was so confused.....
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講到尾都係賺錢- z$ {. n2 ?2 }  l: a, V( f0 K: x
so銀行可以不斷放款
; a! R0 y6 u1 N% n6 \5 H6 y* p美國的房貸問題散佈到全世界
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mortgage loan
7 j$ K2 f1 v1 {7 q* w" I, O1 j. E>conduit; R) P9 r( ~8 t9 D& E; y
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)! G5 N# v- Y, _$ t0 k' s
最後去到投資者
i thought it is the reason of rate of return.
; M& c# h: u& w  I# ACDs could have different ratings, AAA -> F,+ m) K+ a" E! J3 q+ r
more risky ones would have higher premium (interest rate) as a compensation for an investment.! ^* g& s' s* K; T6 U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) ?: m" u) a& A0 p; x: min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& K( H5 I8 p2 o) ~% P6 o& P' wAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 k( ~5 |3 ?5 x: f
similar to bonds, CDs trading in the secondary market have different value at different times,
/ c- u/ d3 k9 fnormally the value is calculated by adding it's principle and interest.
3 m, K% [1 n6 [8 P7 A3 ?6 Ceg. the value of the mortgage+the interests to be recieved in the future. 2 r% F$ ^$ J. S" {2 S) H0 |
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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im not quite sure if the multiplier effect does really matter in this case.7 ~2 Z& o# r8 z' F, I( u$ G
in stock market, it's the demand and supply pushing the price up/downwards.! M5 }( `! X; W, ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 g- L+ D1 f$ |" d4 I
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 W, m! T& Q5 M: X2 y' Z( E
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. : F. _6 ]2 Y! L5 y/ ?6 u0 M  |% k
but the value of their assets did really drop significantly.6 O9 S' }8 R$ @+ g! E
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 u( K& W4 s9 e- O  p* GRefer to last example,
- r4 t! \) e9 }4 n( xthat means bank A have no money because we borrow 10 dollars from bank A 4 s" L3 h. h8 _0 k5 g& y
Because bank A doesnt have enough cash on hand
! b+ y! {4 s7 U; [6 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...
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' s/ h/ }# m# v6 @, e% q5 d9 `% d! K* r1 ?- K2 T3 A  }
A->B->C->D->E
$ o% x1 J3 J* \5 Cso does it mean if E failed to pay D,
$ x6 G) r# u& Fall the B,C,D,E have to go bankrupt?3 `7 p* e$ I8 ^7 _6 z- a3 i
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the multiplier just tell how much money created in a whole economy,
2 e9 l/ \& {  _/ E+ oin this case it doesnt really matter how much money is created,
. [, a0 ^+ k- X- y9 {' _" bit's the problem of the debt itself.# g. T7 S! d. \8 F3 e
the debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 Y9 c! n  W7 K& @/ Q& f
小弟一直都唔明...
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全世界都蝕錢,咁邊個賺緊錢呢?$ S3 p8 \9 x1 ~( s3 n; w) ?
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無可能淨係有人蝕錢無人賺架嘛...& l& ]1 j1 g8 G. B8 M; e: L+ j  |/ K

& ?' ~" |! _) t7 ^& ?敬請各師兄解答+ u6 _% d( |& }  L

; ]3 w, r8 R; tThanks
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那些根本係 紙上財富  
9 A! r" }, k5 `5 z& ?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
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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+ M6 o6 {3 m/ s+ W  C6 jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產2 r' s& v5 m! d6 m' b; {# l" b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 w' r1 O+ C: [8 {8 g( p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. B* @; s& V* h5 y+ x- _3 o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 o: ?' u# x* q7 e& o6 h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 S- x) T/ m) p計番回報率就已經係50%,所以可以好好賺
) G8 G; A/ b! w! Y" @& s前提係銀行之間要互相信任先可以咁樣借法+ ^! Z2 o9 S4 K$ I3 P, x
同埋個市場既前境要係好先得
) J- H8 U0 l" z& e9 [但當經濟一差,公司估值趺了,物價不升反趺6 |/ o! G$ I# {
例如剛才說10蚊的, 趺到得番9蚊,
5 Q* M! h* z  q+ r  U咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ U8 k) y/ W* ?* y( s* {; a$ ?
所以你就會覺得D錢好似蒸發哂咁; i5 r& Q0 W5 @: a7 j7 v/ Z
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你都可以當標野咁諗, 個樣野多人可以狂升值, ( a: ^. P) U! u
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' f& |: s& W8 R9 F: t% C( \) \6 g- U7 k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 y7 N5 D6 X7 b1 N' 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
5 K/ A, l/ M4 N, h. H$ F/ F咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ W0 q% |7 ~( j; v" d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- N' h0 ~  r+ u  `: y* d3 G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% B: n# }# }! y( z3 w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
2 k; \& x- J; ~$ |2 B5 O- Z咁你話d錢蒸發左去邊? ...
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) T$ T7 z: d1 m& M  w" H正係咁樣
5 b2 t' s" i( G3 @& P% d4 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. h: o. ~" a' D+ K
分分鐘佢地唔使還錢
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$ O/ r9 q$ M2 y/ H4 e9 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,, L! w. x* b+ W2 m& `) Z
連國家都係問人借, 不停發債券, 印鈔票0 K7 v' t$ w" p& f  x9 C
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 D+ o0 E8 u! g* |9 ?) n
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif$ l4 ]$ [% V8 `
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
1 \' p3 f5 ?$ B& A- W! K% m, ^; q因為以前未生產, 先消費
3 D$ p, H% _$ f* w1 B& q而家就要多生產, 少消費
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