0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif) z- v. g2 W5 k
Why bank will sell 借據給第三者???
0 _& H; z3 x3 A0 P: rI was so confused.....

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0 Q2 W1 ~  b7 x6 ?3 ?& h講到尾都係賺錢' ^9 r7 F  U, n0 [; R
so銀行可以不斷放款& w7 v% v% O. p; a' }5 `
美國的房貸問題散佈到全世界
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) [: V$ \3 s/ a. w  f+ k& kmortgage loan
7 A. @4 i9 I2 t. k3 S' b1 w>conduit
, i! [3 \" m+ l4 H2 `, K>RMBS(Residential Mortgage Backed Securities)
% Z& \! S$ ]+ _5 A1 r4 ?; w>arranger7 H% C0 C0 c( G2 U; }
>CDO(Collateralized Debt Obligation)
4 P0 g0 x4 L6 `5 A3 q3 Q最後去到投資者

Kev

i thought it is the reason of rate of return.
5 l% O4 h# i; j) Y. V0 {9 wCDs could have different ratings, AAA -> F,
- ]: Z+ z; v: U! Q* F2 t: ]more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ R8 A/ c% T& P& `9 [4 k2 Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, [- T: U4 M5 ?+ n2 E$ ~3 win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 r- ~: d: J' a
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 }* S# a' ?% ]: Y- S! Ksimilar to bonds, CDs trading in the secondary market have different value at different times,
4 f' X- q* Z) L0 W! Gnormally the value is calculated by adding it's principle and interest.
4 f8 _9 h" G6 l- ?1 L+ oeg. the value of the mortgage+the interests to be recieved in the future.
  M! r% ~* F/ s, a/ F  c& E2 zbanks 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., y3 i! T3 e1 Y
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im not quite sure if the multiplier effect does really matter in this case.
, w0 W4 {( L% {) b+ V, G8 B5 W$ T$ ~in stock market, it's the demand and supply pushing the price up/downwards.
0 f8 G2 x- A6 A7 G1 mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" d2 K* a  v+ R# E( CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% @4 m$ A1 I3 D. r5 d8 U7 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.
' p" L' m& F  w1 }but the value of their assets did really drop significantly.# W7 V3 Y4 U: j+ c7 `
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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
. v- }0 D) d5 J* D7 gRefer to last example,
& G, X9 U4 p' G+ L* I) \- O- V& C+ zthat means bank A have no money because we borrow 10 dollars from bank A + Y' Q5 h; J6 Z0 V2 P. W: y6 U
Because bank A doesnt have enough cash on hand . }. h% h& g& F1 X$ Z$ O8 K; k
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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' }' D1 N7 P' J2 h# t4 kA->B->C->D->E# H3 K  c! Y* u/ C
so does it mean if E failed to pay D, 9 U4 H( _: C, v0 v: U1 j$ p' |
all the B,C,D,E have to go bankrupt?
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# b2 M& g) x! t( W- u4 j3 ^the multiplier just tell how much money created in a whole economy,
% y( t) O  ~( Gin this case it doesnt really matter how much money is created,
* ?3 x0 O8 _8 }! y# H) tit's the problem of the debt itself.- ?, x, |  A/ G6 B8 N, I' H- C9 ~
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
6 `: M0 q. S& l1 C小弟一直都唔明...6 n7 J: d( J  D; p- y

) x; M2 W6 e$ U8 [全世界都蝕錢，咁邊個賺緊錢呢?+ k5 K- q2 t% d# g
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無可能淨係有人蝕錢無人賺架嘛...) p! Y9 r3 l6 Y5 p" g6 d

3 m/ z! V# u% A: \, f: s敬請各師兄解答
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Thanks

# I. A7 b; }* {7 s5 T  s# U那些根本係 紙上財富  
1 \8 n; l% M' l- b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
3 X6 W  W! g( `! o當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 J$ b, W' ~, }* ^& @1 ?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
% E/ [% |8 Z  d  ~% w, [個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ W  E( C$ P, F0 z3 f4 J5 O4 [* G
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! |& z+ {" A& S計番回報率就已經係50%,所以可以好好賺
+ J2 d8 t/ q9 j3 B# T前提係銀行之間要互相信任先可以咁樣借法
; f5 \/ r' _) Y$ U同埋個市場既前境要係好先得
" f  l& F5 \' f( C但當經濟一差,公司估值趺了,物價不升反趺
' j& j2 Z" K, _; m例如剛才說10蚊的, 趺到得番9蚊,
, {* \% [- Y; Q- W% J# p. T( S咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, t9 X, x1 o3 p8 C% h' G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,
. B# y  d1 f4 m0 g* H# w5 Z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,
$ Q1 u# m, g/ g( K5 l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' S1 V- h& f, ?: w; u+ z. o' 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7 f6 V1 b& l, }# F* L4 L
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. m. `/ G; M8 O8 H  Z4 M+ O
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 T; T- V, I: l- Q. c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 R/ F4 w! U9 s! s2 B1 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
# {- Z# N# t  a1 k( i4 R& E8 j咁你話d錢蒸發左去邊? ...

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5 c% l( A. Y0 Z: L  G% K正係咁樣
9 }9 ^5 p5 e$ N7 y7 A8 C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* ?6 K/ J8 X  z1 N  o4 O1 H; @" s
分分鐘佢地唔使還錢7 M8 d; ?0 D" V) o/ b* i8 v, w. k

7 L$ O* L. a. {) b6 @5 h# a! L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,
0 J2 ^1 l& x4 p7 X1 T, Q2 {9 S連國家都係問人借, 不停發債券, 印鈔票
8 v0 C, U6 s  c" E$ t) n# V一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  p  r8 d  J  Q( y* k6 W: M( d. c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 b& x0 N! d! e6 m$ E* M( I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...- _0 y3 d! N! p* j1 e) @
因為以前未生產, 先消費3 n6 s# S  R4 s( n4 J
而家就要多生產, 少消費