0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
2 T& R! l2 X  m! xWhy bank will sell 借據給第三者???# A9 f! L+ I' I' h- @
I was so confused.....

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講到尾都係賺錢$ S+ K5 u5 H0 C  k) r) U
so銀行可以不斷放款) D& z7 ^" f' H% w6 B- w7 I
美國的房貸問題散佈到全世界
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9 q5 b( k8 b) X) q& hmortgage loan
) ]! o9 o2 D- y  y: z2 a/ J>conduit3 G$ m1 K1 @% D+ h$ M
>RMBS(Residential Mortgage Backed Securities)2 ]1 D5 v0 y' x; z1 s/ A7 K
>arranger
: ?+ h: {) b8 G# ]5 d* N) b2 q7 J( `>CDO(Collateralized Debt Obligation)" W7 }- b& o$ a/ N/ W- O
最後去到投資者

Kev

i thought it is the reason of rate of return.8 r# ?) ]* C6 Y2 g4 e
CDs could have different ratings, AAA -> F,
( ~/ s; g7 |. x" A( L$ j2 Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.- `, J6 H5 R2 x6 O* s5 s
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 L' E1 ]/ V2 _+ R4 b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 x4 \, f$ W' G( `# JAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 w4 y4 K) n# a# K
similar to bonds, CDs trading in the secondary market have different value at different times,
, i; {& Z; P# j0 `normally the value is calculated by adding it's principle and interest. 4 p- J- ?( N0 X* U  y
eg. the value of the mortgage+the interests to be recieved in the future. 4 r) e6 H% Y, @( @
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.. a7 T5 Y8 s. }& T' u

& j% j9 [4 }' }$ N+ t; V5 Cim not quite sure if the multiplier effect does really matter in this case.
& ]' a  `3 i0 [$ V# O! p+ i8 ~& qin stock market, it's the demand and supply pushing the price up/downwards.2 s, O  x% \+ P% t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 d/ H- J" q  @, h9 l3 b  AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 ?$ c* L6 \) B/ Q  z
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. ( v' ^: H  F0 A3 C& I& N- q) [
but the value of their assets did really drop significantly.) ]1 J7 d) S5 L
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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$ U5 s" T$ s2 |+ o; T
Refer to last example,
+ Q1 {9 q: u4 S0 r& P. W5 _1 k0 @that means bank A have no money because we borrow 10 dollars from bank A + k: I) w2 i: \+ S, ~$ b
Because bank A doesnt have enough cash on hand
( a+ y) |4 B! G0 y7 D& n3 R+ Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E; W. W+ i0 I! {# w% t
so does it mean if E failed to pay D,
$ m: D7 X- h* Z* b' G0 ^7 B8 }3 Iall the B,C,D,E have to go bankrupt?
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! [0 {# w" P' X; N" A) Z1 Wthe multiplier just tell how much money created in a whole economy, 0 ]% q5 d  W% z  V
in this case it doesnt really matter how much money is created,
+ d8 i7 g+ c0 y) d6 H- ]it's the problem of the debt itself.% h+ O$ I, u. u1 f
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
, f: J0 Z& o8 y2 ~1 p$ K小弟一直都唔明...3 ?" s* B. L! p3 F, N

$ i' U* D, X1 @8 d* D全世界都蝕錢，咁邊個賺緊錢呢?5 A% a2 Z! O( S0 m

: H: G& [- }0 h, x' O2 T- a1 @無可能淨係有人蝕錢無人賺架嘛...
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: I1 g# q% t1 T8 Z# @6 z6 l) @敬請各師兄解答
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Thanks

9 U5 [4 b( ^* X2 S4 ^那些根本係 紙上財富  ; ^" U6 {. k, u6 h2 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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: {8 S' _, d. [* z* khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產; z4 ^+ I  Q3 v& ^# M3 S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 _. G6 A/ [4 |1 @. {) M  l- h
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
" M. a. I: [/ U) _個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 N8 Y" }8 x5 d  ]: y' l) ^, ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; Y& V- O, ?3 l+ c計番回報率就已經係50%,所以可以好好賺
" ?. |( |2 s! l8 H  j4 }; X前提係銀行之間要互相信任先可以咁樣借法6 ?6 i* r8 e/ z0 I; e
同埋個市場既前境要係好先得+ u+ Z: ]" O( S* P& m) d/ `
但當經濟一差,公司估值趺了,物價不升反趺
" C4 X- k, j; J. ~- U2 L" ~例如剛才說10蚊的, 趺到得番9蚊,
: r) t7 z+ g( G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 r' Z# E7 f" o- U8 v
所以你就會覺得D錢好似蒸發哂咁
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( l2 W1 P# ?& Q  Y; f) z你都可以當標野咁諗, 個樣野多人可以狂升值, 6 [) H" u$ g; H- a" ^& H+ b
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,
9 ]$ \' \" z, N) T3 U' \" H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 w* |8 `" \7 r3 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* \% R- g* _' N$ z9 V
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
0 [% S$ p: k: [唔係d錢蒸發, 而係比美國佬洗晒未來錢, ) M9 s: {2 z( P5 w3 F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ k* V/ x  _# K7 a4 h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
9 p- n; R' W- A) i咁你話d錢蒸發左去邊? ...

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4 b# e; K% r, ]5 k3 n9 S* d正係咁樣
# A. [+ v/ ~; `3 {4 w4 C3 m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
  x$ Q' e. Z3 N, k, k- U4 Q分分鐘佢地唔使還錢9 y, i! O+ E8 u' i. h; P
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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,, D6 F& Y* |0 p& n
連國家都係問人借, 不停發債券, 印鈔票
3 y7 ~5 s" A) Q/ k/ A$ a1 \$ \一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ @2 h9 S, z4 b8 J8 E; d% @' y9 h2 ?9 ?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.gif8 U) N6 k0 N" q0 U1 c2 w
咁而家"爆哂煲"算唔算先至係變番"正常"???

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  ?+ j4 j8 g" a7 W0 V: \: O其實係...& R- T; K9 G  u  B
因為以前未生產, 先消費! P( [4 S# W0 q: \1 u  }. O9 j& i; S) U
而家就要多生產, 少消費