0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- `- P- ?1 g. N2 ?8 P% \
Why bank will sell 借據給第三者???6 f1 X( O/ `% ^( g  u
I was so confused.....

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講到尾都係賺錢' k0 }/ p3 \9 @& B3 @2 w1 o
so銀行可以不斷放款
9 L8 h6 Y# J: j美國的房貸問題散佈到全世界1 j1 ^/ L% T; M. f) t

4 k+ h, g$ |6 O+ k( h+ a; [2 Fmortgage loan
1 {( m2 }3 F4 |$ _' u>conduit0 `4 e6 W% |) `, q. _1 I
>RMBS(Residential Mortgage Backed Securities)
% R$ {' U) O, ^$ F0 K4 |>arranger6 b+ r- L. {3 p: X
>CDO(Collateralized Debt Obligation): ?, ]3 J. J# o
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 I+ Q2 T8 m# jCDs could have different ratings, AAA -> F,
3 g6 R% b8 w1 a- Z0 Y. ~more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 X9 m6 a4 P& i3 O2 t: `6 Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' u& D3 [% V% k% A- E0 f7 j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& Z! U. d" D# S8 S+ C' H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.% `, D1 x* c8 N% ^( }8 A$ u
similar to bonds, CDs trading in the secondary market have different value at different times,
9 P6 R' F5 t- N5 _- wnormally the value is calculated by adding it's principle and interest. + I8 }4 ^9 ]8 K! }. E- x
eg. the value of the mortgage+the interests to be recieved in the future. # n8 [; \# o' G) x5 c3 f. O
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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' b  ~9 n7 x2 I: T; O! \* V1 S2 a. }im not quite sure if the multiplier effect does really matter in this case.6 J* V5 N, O; g
in stock market, it's the demand and supply pushing the price up/downwards.  K! Y6 k- U" ~9 z2 r: s
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 ?# l8 T3 `) K$ Z9 ]/ j/ d
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 C& ^% K0 u4 M4 xThe 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. 5 V% a  y( F9 i' N
but the value of their assets did really drop significantly.6 l! c; |% d* ^( ]$ {- E

% m8 @( Z  g$ t" o/ ?[ 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. ]  D, i' q: t
Refer to last example,: r6 D3 C; o. I( S
that means bank A have no money because we borrow 10 dollars from bank A
2 d2 H- g. s* S; Z, Y* X5 G7 h8 w) _Because bank A doesnt have enough cash on hand 8 w' k: y1 B% q5 P$ @: H4 K# {; I3 v
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' x; x0 k$ l5 h  G3 xso does it mean if E failed to pay D,
' p6 ]3 Z6 e/ Yall the B,C,D,E have to go bankrupt?2 i4 b' k' q$ @! D. m
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) `+ x* S: d9 F/ g# ethe multiplier just tell how much money created in a whole economy, 4 Z, L) {3 U  m+ g. a3 \
in this case it doesnt really matter how much money is created,
6 R& X  P: s  k* T6 Xit's the problem of the debt itself.) o- V# t0 o( V2 B3 J
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
' C* T  U* O  P# x9 [9 X- [小弟一直都唔明...
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& [/ L& T( c: F6 [* l6 C# x全世界都蝕錢，咁邊個賺緊錢呢?1 N( k* D4 S  I% v
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無可能淨係有人蝕錢無人賺架嘛...3 s  V0 r: `/ f! H- T

) B9 H( x. b" k敬請各師兄解答
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/ K0 c0 p3 J1 g; m8 v' d+ LThanks

& [. p6 r  O6 ?4 p" Y那些根本係 紙上財富  4 B' V6 e% E8 t7 @/ ?) c# N
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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/ v1 J# k  Q6 j4 x0 O; Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
5 Q" H4 D& S6 w3 |1 c" J當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ `0 T  P; @' R( @1 f$ 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- W9 D2 Q5 T0 c' u
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 d9 P# y+ c0 r( k
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 u- V- q/ u9 p, N; C& s- _; m計番回報率就已經係50%,所以可以好好賺, W4 F' l( ~, t' @% a$ ?
前提係銀行之間要互相信任先可以咁樣借法
' j7 |6 t  u* d' z1 g3 p+ I同埋個市場既前境要係好先得' Z4 c! n' A5 G4 T6 }. u9 Z9 t
但當經濟一差,公司估值趺了,物價不升反趺0 t8 w& P! G, I
例如剛才說10蚊的, 趺到得番9蚊, 0 t  |7 S. f$ ~5 D  }$ S5 g* f( X) D
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 |/ p6 T, \8 g' {所以你就會覺得D錢好似蒸發哂咁" i- x- v! I, v  A
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你都可以當標野咁諗, 個樣野多人可以狂升值,
' I2 @+ t: g1 o- E+ {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,
1 i2 L8 \' }3 j& h+ @3 n; |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: ?$ @6 Y9 B/ ]$ V/ N9 V& B4 g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; q' g! b5 t. H6 h- w+ e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: c6 `- H3 L4 D" n1 B+ p" @$ f
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 l% y9 s; `8 W0 L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 G. o3 G  Y% X- r( ]1 }7 F; t1 ]
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( Z* o/ X! t# M9 W8 ?6 c* I& _
咁你話d錢蒸發左去邊? ...

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正係咁樣3 P2 N. {1 U, ]3 O3 R9 B
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' z, p, ?3 P1 i9 s/ g. _
分分鐘佢地唔使還錢' ^3 U7 ~) t6 u7 k

' W9 v5 N' }7 c, V8 V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,
. @6 I  a5 P3 b2 ?連國家都係問人借, 不停發債券, 印鈔票
  p! v" o/ o/ Z. G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, x& U9 W8 l- w9 ~
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.gif9 ^4 I0 o0 I& T" }+ p
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
# {6 D2 `. E3 j- C因為以前未生產, 先消費) V! d2 ?) p; ]& t
而家就要多生產, 少消費