0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif- b3 E! ]* p% F' Y0 ?
Why bank will sell 借據給第三者???, G/ X; d2 s! }' F; V0 A& [7 [6 ^# ~( w
I was so confused.....

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講到尾都係賺錢4 R6 J' d5 B' h8 Q7 ]( Q
so銀行可以不斷放款' M; B9 i6 E  d& ]# {, j
美國的房貸問題散佈到全世界
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mortgage loan
3 r2 s0 @3 ^5 C$ w>conduit
/ U: n4 ~2 b2 Y9 \5 t% o>RMBS(Residential Mortgage Backed Securities)0 ?' d7 V3 g2 d6 F4 a
>arranger" x, [, [6 c. Y5 T: A) A! {+ T# J: B
>CDO(Collateralized Debt Obligation): H* }2 n$ s+ G4 [& v
最後去到投資者

Kev

i thought it is the reason of rate of return.9 X( u& k2 ~0 w# ~
CDs could have different ratings, AAA -> F,
: i' [; Y- Y6 }: m" omore risky ones would have higher premium (interest rate) as a compensation for an investment.1 x( H. Z: ^% x5 H4 v7 h1 {9 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 U+ m3 I8 u2 V4 \. S2 r0 f2 @in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 W! a  B2 P5 S/ c, ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: C9 O1 k- S( q8 I& w9 e5 Y/ q) Csimilar to bonds, CDs trading in the secondary market have different value at different times,) a/ K+ B) c! A: j" W
normally the value is calculated by adding it's principle and interest.
3 V( B, ~7 ~% `, m' z' H4 {- ueg. the value of the mortgage+the interests to be recieved in the future. # h9 H( C+ b( g1 O, A4 d1 L
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.4 I; ~  {) w6 F( q9 b0 L

- G5 p, Z1 ^  w; ^" u0 Eim not quite sure if the multiplier effect does really matter in this case.
9 v/ k8 r9 Y3 o; f* Nin stock market, it's the demand and supply pushing the price up/downwards.
5 m4 U/ u3 p2 \4 \* Y: sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 [% g0 X! _, L3 ~8 }# x( b  G7 J( ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 i5 y" r2 G0 Y( R0 @
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.
  w  F# i/ [7 v4 mbut the value of their assets did really drop significantly.
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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% c8 B* F. E9 t
Refer to last example,* O& {6 r3 K+ U; T4 W: d, E+ a
that means bank A have no money because we borrow 10 dollars from bank A
8 Z* r% \! q- C7 }$ ^Because bank A doesnt have enough cash on hand ( `' g4 Q3 z* Q& [- e, O- c
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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. g- a- |/ `$ ^" [9 l* W- hA->B->C->D->E
5 \, G  I% [6 Xso does it mean if E failed to pay D,
% m; w% z3 C) Q* [all the B,C,D,E have to go bankrupt?
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9 \' c1 J+ e- l$ U( d" ~- othe multiplier just tell how much money created in a whole economy, & `4 Y# @8 L/ k1 C4 x6 P& L
in this case it doesnt really matter how much money is created,
, b4 d. k8 `. w6 e$ `3 N  ~! iit's the problem of the debt itself.5 e- O; A% m& V" b# P
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.gif3 E' ^2 L, n  k6 z
小弟一直都唔明...0 q, u6 o& Y5 X8 r+ j$ o  |6 [/ \

% h9 |" Y/ }. L; v* \: M2 y5 |# _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- y# ]% ]' z0 Q/ Y4 x
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Thanks

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那些根本係 紙上財富  
1 V6 Y' q0 ]- f6 u0 T& U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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, B2 j7 W$ D: i1 R4 \9 z1 vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ h& R6 f' N* \2 C; @) p) R7 Y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, u8 N7 ~. p* 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) [. W9 f6 P2 A) }1 `6 [
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 @$ Q- {# u$ Z' b' b/ g' o
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: ^# `4 E+ ^; C6 y+ |5 Q計番回報率就已經係50%,所以可以好好賺0 ^1 U2 k$ H0 U/ O7 Q1 L/ a
前提係銀行之間要互相信任先可以咁樣借法$ F9 H1 X7 Q; \. ~0 B8 ]# |1 g
同埋個市場既前境要係好先得# P8 N2 G5 E3 d. z5 J
但當經濟一差,公司估值趺了,物價不升反趺
, T( Q  V% S- d例如剛才說10蚊的, 趺到得番9蚊,
* w0 f' A, [( y) Y. E: J& g咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. e. Z. ~8 s+ p4 {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,
. x6 I+ T: W2 |2 M! f& x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,
- l7 C5 B  s2 a  \! H& ?( u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 g. w7 u; C; k* t9 D: X8 L! B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
- n4 ?1 d3 P  J0 T& |# G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
% G1 Z0 V2 j, H: n' }9 a  ?唔係d錢蒸發, 而係比美國佬洗晒未來錢, : n) Z7 g  [. @& y' Z' v
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& Z0 c! p2 R+ X: I0 o% }) ~7 ~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
: ]" h8 E9 J/ m1 `& |$ ?7 I$ j咁你話d錢蒸發左去邊? ...

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正係咁樣
- U) N. Q5 J3 t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) B' m/ F( P- [- R分分鐘佢地唔使還錢: e. |5 {7 Z# g$ }; H3 q
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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,
7 I, V$ [) V3 \7 E# O- C連國家都係問人借, 不停發債券, 印鈔票8 Z2 `# y9 L* Q% x5 |* S* G  [& |! x
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& D4 C) G. z4 _" p3 \. N9 ~% m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.gif7 M8 K5 Y, S9 Q$ v
咁而家"爆哂煲"算唔算先至係變番"正常"???

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& g9 P6 A5 A& @/ B4 O其實係...1 I' F3 w- G+ W8 Y8 f( V! U  U
因為以前未生產, 先消費% U$ ~& O- z8 m
而家就要多生產, 少消費