0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& {9 j  T& g* `4 a8 y0 Z" ~Why bank will sell 借據給第三者???
+ I( `' U  S. V0 \" @5 [# AI was so confused.....

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講到尾都係賺錢
: y1 n) ]& P1 m- m# K$ @: l1 wso銀行可以不斷放款) n% y9 y3 J  Y# y
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
/ }0 x: h; ~$ e& }( U>arranger
* g8 j& m( V& f/ _( w( d1 w>CDO(Collateralized Debt Obligation)
8 w8 `+ I# w7 L! {1 Y最後去到投資者

Kev

i thought it is the reason of rate of return.3 P$ B; N8 r$ B; O
CDs could have different ratings, AAA -> F,8 b7 t& j. t) M& p% _
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 ?$ r' g; u/ l9 q: Z; c7 N, omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
" k8 C% u- i# }7 w  @; qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.* p& F0 |* I  R' w2 h6 B8 m; K9 d4 ?
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" x- ]! R8 q& c# [similar to bonds, CDs trading in the secondary market have different value at different times,
! F! I' C: Q: G4 r4 }8 v% S% Unormally the value is calculated by adding it's principle and interest. 3 J5 j/ W% l8 u: \  e3 u
eg. the value of the mortgage+the interests to be recieved in the future.
% S! Q6 ^+ r' X0 b; ~+ mbanks 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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' G6 S; n  [3 F9 o% Wim not quite sure if the multiplier effect does really matter in this case.! s2 B, j6 U$ y3 N! `$ d2 j5 b7 ~
in stock market, it's the demand and supply pushing the price up/downwards.
' J8 T& P. Q8 U8 b' MFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& x8 S2 m- F* `; m! u0 g0 _( zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 ~0 W  _' O+ k' W
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. 7 C. A- Y0 O* _
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! q, Q8 E0 C% M9 }
Refer to last example,/ Y' s' c( d' a, M3 G5 W
that means bank A have no money because we borrow 10 dollars from bank A 9 }# i  E6 w$ u) y' {) J" u
Because bank A doesnt have enough cash on hand : K: q9 l# q* f4 v/ _3 J
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& d3 m1 ?% U$ p9 S' Q0 [$ y* X$ OA->B->C->D->E$ ?( p) }, P4 C' U. }' M/ D
so does it mean if E failed to pay D, 7 T- k4 H6 W$ I% N( j' c
all the B,C,D,E have to go bankrupt?
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5 z8 S  c4 F; x2 ~" Z" M+ Rthe multiplier just tell how much money created in a whole economy,
9 b9 t2 l& e4 K- h, lin this case it doesnt really matter how much money is created,
3 |1 L  Q8 {1 R0 F( ?3 O" T4 Iit's the problem of the debt itself.
- w+ S9 \- {6 j- k: Q' s6 d1 Lthe 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" M3 ]6 p/ G% l
小弟一直都唔明...# h1 M0 L3 O  r9 U  k, V

  F. s& c1 G: @) @) ?, Q全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...* R9 ]4 T4 d9 `3 h! M4 b) l9 e

1 ~8 e* i2 M( I) M3 l敬請各師兄解答
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' u$ @. F/ j7 y6 h# ?Thanks

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那些根本係 紙上財富  
6 m+ C5 s3 H0 t" M# }5 U  L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 graphic8 L! C" g! T' M$ Z% w) C
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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
- G& A! v3 u* {; U當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& l( o: Z: h7 O2 P' ]  Q4 m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
* S# }' Q; M- q3 b' u( J0 |個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ t" g( K" O" N& h7 j3 }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" ~, T3 ^$ u0 Q4 ~) o9 x' b* J計番回報率就已經係50%,所以可以好好賺
2 I, i3 G3 y! I* W4 B- }前提係銀行之間要互相信任先可以咁樣借法$ M! Z8 u) [. r! i* e3 M
同埋個市場既前境要係好先得4 k! x% c( D# G% L2 u* K
但當經濟一差,公司估值趺了,物價不升反趺5 E" y- N2 V. ]0 a; C7 A
例如剛才說10蚊的, 趺到得番9蚊, 0 M' @9 E3 ^* |# v0 g7 Z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 Z; l- {' k7 _# `6 ^+ ?
所以你就會覺得D錢好似蒸發哂咁4 V  W& Y  R* V0 I+ ?
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你都可以當標野咁諗, 個樣野多人可以狂升值, ! z' M9 p  q, K0 x3 T+ J- l9 ?
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, 2 x: a7 g/ e! z; i$ J$ v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' I% X1 E8 f3 \) F& U0 @/ y
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 ~1 Y4 f6 @5 _2 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
- y; q) Q4 R: A: f! Y2 W! b唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 X5 D: R( i' a8 H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! h5 \1 v( n) X! u6 D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3 b  D& u: M. T) E6 g1 b
咁你話d錢蒸發左去邊? ...

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: P0 R! m2 h4 o# P' c$ y正係咁樣; r1 Z' i0 {& k& r( V+ |
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8 a$ x1 ]2 U7 d0 m" Z' d3 F0 U
分分鐘佢地唔使還錢/ B0 c) k- a4 |, J6 r

, S1 c# q) _6 X! o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,
- j% y6 S7 \5 Q+ X連國家都係問人借, 不停發債券, 印鈔票
: B/ d8 q4 D5 J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; U. V! t, F8 ^, E  c7 y) {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
& F& q" T3 a' h4 _* r咁而家"爆哂煲"算唔算先至係變番"正常"???

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# ?# E0 R, L  u( {! [: W# C! W其實係...
( z) x5 f4 B5 s: o因為以前未生產, 先消費1 m, X- ?4 S9 T# \- m" W" Y
而家就要多生產, 少消費