0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
' y5 ~! D; S( D6 |2 b' g; L' zWhy bank will sell 借據給第三者???
$ I& {8 h# G  s( F  c4 U! wI was so confused.....

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) E# z+ T* i) ]$ j6 Q% l講到尾都係賺錢+ {$ V& r; X, o5 c
so銀行可以不斷放款# V+ @- C# j" b. b& G
美國的房貸問題散佈到全世界- I* @/ V% \" n1 s; v0 {9 J

+ t. t; p- ]4 y6 a1 Bmortgage loan
. |+ o7 I& E% b8 O0 ~>conduit/ Z8 G* I; U' ~& G8 _
>RMBS(Residential Mortgage Backed Securities)$ O# x5 c# u8 b
>arranger- i5 P% V$ M* O' R
>CDO(Collateralized Debt Obligation)
) }+ M3 [2 k: z( l! a% }9 ?. i最後去到投資者

Kev

i thought it is the reason of rate of return.
& a' X+ I+ {# f9 eCDs could have different ratings, AAA -> F,
( Z: s5 `0 p8 Bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 ~8 q# a( u) C0 Y& x3 dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' x+ ]8 k9 L3 y+ J1 g! D& e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- V8 K0 e  [- |0 _( O
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 i  Y* `! `* \( Esimilar to bonds, CDs trading in the secondary market have different value at different times,
4 d2 }5 W; d. I2 \1 p5 Enormally the value is calculated by adding it's principle and interest.   E' l$ b2 p0 Y
eg. the value of the mortgage+the interests to be recieved in the future. " K# O, z8 R' d
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.1 J9 O9 K1 t* S6 N& J4 S- F

: n7 I4 F/ F* yim not quite sure if the multiplier effect does really matter in this case.
7 L& M; I6 F- ~$ z. }: U8 U. t9 B. Q* iin stock market, it's the demand and supply pushing the price up/downwards.4 O) F$ r( z) D6 U9 a- [2 l" D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. w. G8 Y7 I4 [5 W* w  y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) k( y' z& W0 Y: h6 d
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. ' N% ~+ H( J! Z/ W4 o
but the value of their assets did really drop significantly./ l, i/ W5 H  D( l9 W4 i0 b0 G
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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
+ C1 Q/ ~" Y& n( t  ~" m) C! ORefer to last example,
! Q# T- X" v  `$ Dthat means bank A have no money because we borrow 10 dollars from bank A
9 K+ r2 D" f% J- f' sBecause bank A doesnt have enough cash on hand 7 I  J) o0 J( @) H* b# ^
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* \/ d. r: E1 qA->B->C->D->E
/ `- r2 H+ K- p1 Q; P, Gso does it mean if E failed to pay D, 7 Z$ e$ Q* _4 K  d% q. ?4 L
all the B,C,D,E have to go bankrupt?
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8 H& z% s! v5 j8 }& z+ F4 M
the multiplier just tell how much money created in a whole economy,
5 }) @' P$ R7 F& ?) I6 H% M$ ]in this case it doesnt really matter how much money is created, 8 ]0 B2 ~$ ^; B7 h! S, x$ W
it's the problem of the debt itself.
( ~+ _+ p" e3 ?  }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
: V% `6 h9 Z9 x! i0 a9 T3 D小弟一直都唔明...2 J$ x3 I! T3 O+ A

: B  [" X& b0 i. P" x7 F全世界都蝕錢，咁邊個賺緊錢呢?
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) P; X% X! h" z+ L% w5 M/ R0 }: C無可能淨係有人蝕錢無人賺架嘛...9 r6 L$ O; u) }4 F' d
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敬請各師兄解答; Q, p- ]  s: d$ A3 Q# s) m
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Thanks

3 T! J3 ~( z/ z% N7 ?那些根本係 紙上財富  
  ?4 e! z8 c8 i& A# g( d( [$ t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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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
: M. d$ I0 }* `6 e當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- v3 W+ L4 \% C1 S2 k/ ]
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
4 i2 u9 Y" Q$ Q9 _0 p1 ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ _: m+ _: R" h( J: {4 O+ s
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 y3 L$ j; S5 D$ O
計番回報率就已經係50%,所以可以好好賺
% z* b2 s& r( K+ s' F( p前提係銀行之間要互相信任先可以咁樣借法
' S" u# j6 \. g- ~' T" B同埋個市場既前境要係好先得
7 h6 J# Y' E! a7 }& t0 c但當經濟一差,公司估值趺了,物價不升反趺
9 d4 d2 ^0 X( b/ }例如剛才說10蚊的, 趺到得番9蚊, # E* a6 k1 A0 a6 g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; G4 d( `  |$ x5 F' U2 n1 W
所以你就會覺得D錢好似蒸發哂咁  K  @. L, ]0 Y! `7 Z" G' E

6 t) Z/ J7 q: N, B: F你都可以當標野咁諗, 個樣野多人可以狂升值,   Q5 }1 L: j* N  Y2 @
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,
% Z) P" G: Y6 u0 y& n( \/ [% X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % f/ x, L6 z3 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
6 G8 ^: l8 C: I2 c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
& ]5 T4 X- h9 Z; L: }1 C唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 T0 {) a; }3 R: X: F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 T+ z/ W, m, w, o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
) |4 z* q* O6 k4 D5 t+ D咁你話d錢蒸發左去邊? ...

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正係咁樣
( u* i" e4 m/ H0 ?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
9 f$ C* ]7 r1 v, H分分鐘佢地唔使還錢
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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,
' R7 L+ Z* [2 O* E3 i' ^5 a連國家都係問人借, 不停發債券, 印鈔票& \' E) w/ ^; R  r0 F- ]" |
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, t: s* J* `4 k/ 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.gif
  s) o8 ?! [8 J7 U  H: a$ D咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 k2 T& n% g. R9 Z其實係...
' u) x' f& \- K* H因為以前未生產, 先消費
! ^" ]) P5 T/ P8 ?: k5 d而家就要多生產, 少消費