0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; L: @1 F) x( I4 N7 |Why bank will sell 借據給第三者???
% a; z- ]; u' t: O1 y% i- TI was so confused.....

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+ B8 |% {) c, |5 w/ H8 V講到尾都係賺錢
7 \' i; I# N: W+ }. M- Pso銀行可以不斷放款
1 p4 K  A6 v( ~4 N" H; F美國的房貸問題散佈到全世界* F; n  A" ~8 k% \

, [( n4 S0 h) U; z1 y) A, d9 F/ Emortgage loan
- H6 ]: o& ^; k$ W- M5 H" Z. {+ c>conduit" \8 ~! O! B8 Z) p# Q5 h
>RMBS(Residential Mortgage Backed Securities)0 e1 ~( o3 p+ z; c" r
>arranger! W# Q: L( ?  M) J$ R6 \3 l
>CDO(Collateralized Debt Obligation)
4 v% b1 ^1 [9 J* H; a4 z! F# o最後去到投資者

Kev

i thought it is the reason of rate of return.
, y; P7 d* O( R/ g. ?# jCDs could have different ratings, AAA -> F,! r+ w0 F- O# ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.2 L$ d% F( I* Y3 h
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 {1 ~2 a- J, M" G" Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ V; z! v/ g1 v" P! gAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- l' @& |& w* O& G# O! \, I
similar to bonds, CDs trading in the secondary market have different value at different times,- T: R, u/ A) n% _/ ~
normally the value is calculated by adding it's principle and interest. ' r/ G6 P+ }  Z
eg. the value of the mortgage+the interests to be recieved in the future. & M8 i, W) D+ W. H0 b* t
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.: q: q2 w7 A$ {' |& t$ A
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im not quite sure if the multiplier effect does really matter in this case.4 b0 `* }- j' c+ n4 a3 i
in stock market, it's the demand and supply pushing the price up/downwards.
7 k6 G6 w+ a8 N7 o8 B, a0 H; TFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( P# i9 `) e& V. h- b7 S
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 I+ G! O5 C3 c, z" m% R3 eThe 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.
* ?, Z+ Q& f$ N; Lbut the value of their assets did really drop significantly.& b7 k: s, l4 D* x6 U

! {! ?: e+ p7 L' c! u[ 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
4 G3 V& M+ K$ {8 L" \9 l$ cRefer to last example,
+ F6 @. _# i  u9 ~/ Ythat means bank A have no money because we borrow 10 dollars from bank A
: D& b- }+ P0 p3 k/ fBecause bank A doesnt have enough cash on hand ' o$ M+ W, n. `9 K+ v' B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
1 W/ G# M  c/ Q4 b5 Yso does it mean if E failed to pay D, 2 a7 N, r$ Y& W0 A4 I
all the B,C,D,E have to go bankrupt?
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6 g" F4 Z& O. b+ M* Dthe multiplier just tell how much money created in a whole economy,
  d* e1 p9 G  t5 P/ Z; u* ~2 Xin this case it doesnt really matter how much money is created, # k3 \. B7 b+ q5 Q$ k
it's the problem of the debt itself.
4 y5 U1 i* f0 ?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
" o7 ~1 o' y& y: B: r3 A- |小弟一直都唔明.... b7 {& [4 |) r) ^1 p

4 y6 G' |) M  S6 w2 M$ D% U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...
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敬請各師兄解答
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Thanks

& `2 v, ], h8 N: p* k: I+ h
那些根本係 紙上財富  
0 i7 q) P: b# ^# i; }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
6 f; [& p5 x  u, E3 h  u1 D. Y  F當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( H; J* `9 {  b% E7 p7 e
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9 J% b4 E( b& L4 M4 l
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 C$ ], g7 Z0 U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; Z% ~8 s9 s9 u) F# x2 j
計番回報率就已經係50%,所以可以好好賺8 E$ H! V3 h0 n, ^) R$ S$ j
前提係銀行之間要互相信任先可以咁樣借法$ G9 C& `  t0 _4 M3 l% L! [
同埋個市場既前境要係好先得
# @. M0 O" a+ |! M但當經濟一差,公司估值趺了,物價不升反趺% [7 z1 A6 j; `7 b3 j: X" s# j
例如剛才說10蚊的, 趺到得番9蚊,
+ V$ v3 \& M) I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 o' q+ w9 I2 S+ A" ?& \+ S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, ! q5 Q3 @' W" R
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, * C. S0 w+ Q$ u1 Y4 a5 Q+ s- o1 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % A9 r- M8 y9 L4 r: b' `+ v5 h! I
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
1 |( J4 |' M6 v0 M# l+ \1 I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
% e9 Q! m* ?; l唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 v$ ~6 E7 V6 H# M% G
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * @8 U5 P0 D0 ~( z# k+ w6 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# h% y3 x5 p  e. G6 e/ e2 N
咁你話d錢蒸發左去邊? ...

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/ i, ~, H, Y2 A9 W/ l" G正係咁樣; u% \& z) @9 m7 b6 f$ {* m; a' s! f3 h
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2 _; A8 n" Y( p$ z2 \
分分鐘佢地唔使還錢
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, }% {2 i7 Q+ A6 a" K  X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,1 q2 N# Y, x" C0 Y7 P* X& m" {( M
連國家都係問人借, 不停發債券, 印鈔票
; c1 E2 ?* x1 r7 t. |) {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) ~) j& u& \3 t; `2 F% m- h
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
4 D! `8 r( d* h8 S# Y- ?* F, Q咁而家"爆哂煲"算唔算先至係變番"正常"???

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" U* A! e5 n2 D其實係...) g$ K5 z6 ^7 j# O" M% F
因為以前未生產, 先消費
2 s4 C& G9 }8 N  U而家就要多生產, 少消費