0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 b9 C4 C2 J* _: I6 XWhy bank will sell 借據給第三者???3 V+ d7 d$ \) [! ]
I was so confused.....

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: }" f& v$ L" S' i, K9 S5 U0 T講到尾都係賺錢# e* O, X- v1 Q9 y; I7 K5 C3 G
so銀行可以不斷放款
7 R, ~3 V$ z1 d0 c' [美國的房貸問題散佈到全世界% ?; e& e: H. @: G$ Z' b. X( U
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mortgage loan 8 n% I/ b/ i/ M' V$ v+ w
>conduit
. I" V* ~& A9 m% X& V/ W, f& N>RMBS(Residential Mortgage Backed Securities); q+ P9 q/ s$ T$ T/ g2 |* n
>arranger
1 k' k: G  m7 X" O+ n( I0 S>CDO(Collateralized Debt Obligation)
5 O( q$ D: Y( }& v. u* \9 {( p最後去到投資者

Kev

i thought it is the reason of rate of return.. t+ L! x& m# ], a
CDs could have different ratings, AAA -> F,- C, B1 J: W* Y2 ~! R- n
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' E8 X$ o4 M9 T7 b3 lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 @9 s! E* A8 x$ Q) W5 K9 z& S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 k( a0 {6 e0 _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 c. C9 W7 Y! \6 Q# `! X6 B
similar to bonds, CDs trading in the secondary market have different value at different times,
" Y' Z0 G; K& c. g7 n$ rnormally the value is calculated by adding it's principle and interest. ) p2 S+ i. _5 ?3 d1 F7 x
eg. the value of the mortgage+the interests to be recieved in the future. / v) z/ C# T; P' J2 z' ]
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." {) X: {/ `% ?$ ^
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im not quite sure if the multiplier effect does really matter in this case.
' e! q- z, `4 iin stock market, it's the demand and supply pushing the price up/downwards.
5 P8 `5 l' _: ?7 y* z8 ~7 k1 b$ J& OFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( e1 z* \# ~' L- T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." f3 X! X" M5 W$ U: i8 c
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.
6 k9 |. u0 g4 E0 w/ Lbut the value of their assets did really drop significantly.
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! ~/ t* J& ]2 a# W! }[ 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! j' Q7 l% K$ X  {( u
Refer to last example,0 P; K) P5 E6 I- s/ H/ M
that means bank A have no money because we borrow 10 dollars from bank A
- ^5 B" z, w! z! L3 s! ]8 KBecause bank A doesnt have enough cash on hand 3 v% b3 W/ U, {: u) N* i
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 u0 J: f1 _9 ~. a4 E
so does it mean if E failed to pay D,
6 i# k6 D. J. H8 @all the B,C,D,E have to go bankrupt?
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0 \* a) A  b! B! F/ n( b* Tthe multiplier just tell how much money created in a whole economy, : K" H& l1 F3 R! G4 E; Y2 R
in this case it doesnt really matter how much money is created, 6 m! \$ d6 T" g6 o6 u) K) R
it's the problem of the debt itself.6 r+ {/ O+ U$ g' s1 P; u6 e# C
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.gif2 l8 A/ ?3 f/ s$ t& a
小弟一直都唔明...
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2 X1 [( N" ~. _! Z/ i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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; X' ^4 ]0 U8 f$ u1 z, o  P- ]敬請各師兄解答1 P+ p" I; S% b
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Thanks

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那些根本係 紙上財富  & r1 l; @. j" X' v
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  ~8 i7 q0 L+ L

+ t4 x0 a* E$ L8 U8 Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產8 T# y1 T# T( k9 L
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) i* ?; F) G/ m" f1 {+ |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* r4 z  u9 x4 h- K1 ]. P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, s4 K) z3 z- T) m- K: U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. g6 j" y4 u* e4 v8 v0 {/ O, e: f- U
計番回報率就已經係50%,所以可以好好賺, v# F6 s) t0 o1 C0 z( B
前提係銀行之間要互相信任先可以咁樣借法
' G/ e# W* o( b/ A同埋個市場既前境要係好先得8 c4 Y; S9 x/ A+ `2 [# C: G- p& ~
但當經濟一差,公司估值趺了,物價不升反趺6 C) g4 P+ r3 ^
例如剛才說10蚊的, 趺到得番9蚊, 2 b. a8 d: r) M* n/ p) R, g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 x- j% s; X. {' X( T/ `所以你就會覺得D錢好似蒸發哂咁7 v/ l5 B, \# V8 ^$ g3 U7 ?! I

/ x" {: r! X. w你都可以當標野咁諗, 個樣野多人可以狂升值,
2 V* ^, S) y* c, d+ l) A2 k( A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, $ K- z6 n4 B% t; a8 |7 [: Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ o' n! Z# W% U* ]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 G( n: H' m" p2 `. a) J
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
8 J8 z( n5 V" E唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 I6 Y! }+ ~1 C, C) N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' {: g( p4 v: @4 f1 V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" D. X; `$ G, t% K
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 u/ T7 l3 J1 q& ]' q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
  q7 H% t1 l6 [: D4 N/ \0 _3 R5 {6 B分分鐘佢地唔使還錢
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' O$ l- J: y# p& o# k* s, c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,$ Q+ `: f' f5 S0 [) K9 ~1 q
連國家都係問人借, 不停發債券, 印鈔票: u3 h1 a5 [: @5 ^" |0 L* |4 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 w# t4 w( q  n+ y- r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
! o( Q& f6 k) a, o- o7 |# T咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...! Q4 v% s8 G% @+ ?2 _, R
因為以前未生產, 先消費4 s; u/ [5 m, d) b3 U2 L
而家就要多生產, 少消費