0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. K- l" R* C4 K+ ZWhy bank will sell 借據給第三者???, t$ @/ K! j5 @* R# @
I was so confused.....

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, v' Z0 G3 G. k& L: `講到尾都係賺錢
' t$ s$ @9 k6 p; f. [& H- pso銀行可以不斷放款
4 F% q0 L1 q* J( X8 p) J. f, I美國的房貸問題散佈到全世界. g4 J/ g. q: a) r) u

& a' e% s' u4 O' E% \; [7 xmortgage loan 0 ~' Y9 t8 s6 o% p
>conduit
+ J+ G4 K% Q  R0 }0 b4 s0 P>RMBS(Residential Mortgage Backed Securities). Y3 W9 M) l! U2 b$ K1 b% V
>arranger" K; t: f- F8 p, @+ _* Q, D8 W( p8 i
>CDO(Collateralized Debt Obligation)
" V  i" Q. f2 H* F& d最後去到投資者

Kev

i thought it is the reason of rate of return.4 ~$ z7 _7 P$ F- U2 A
CDs could have different ratings, AAA -> F,3 @& p: N) j" \! I3 \
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 j, s. e% _1 H" s9 J' vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; Y: c* t# E$ @4 M. fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- P# \% L  r$ U& f9 y, j- cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% K3 W1 N( ]/ t7 Q7 ksimilar to bonds, CDs trading in the secondary market have different value at different times,
# t( n. \6 O2 a, ]  H* tnormally the value is calculated by adding it's principle and interest.
) `: A( Q5 s) E6 J( c! ?eg. the value of the mortgage+the interests to be recieved in the future.
( Q9 |# ^3 @' F# Q: Kbanks 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.* m+ Q  t2 B& ]8 }1 c
% L4 w. U) o! ^$ g8 u
im not quite sure if the multiplier effect does really matter in this case.
) e) p' ~/ F/ ?0 r2 j9 d/ e0 M6 Ain stock market, it's the demand and supply pushing the price up/downwards., S( E  [' ]4 d; T" e1 W
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 H+ O* x7 `& D2 O
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: U: H9 `- e9 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.
7 i+ y( ~# r5 z% }6 L, x! ybut the value of their assets did really drop significantly.# v" u7 u; C) F
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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
1 a, r7 y% e  s5 T% a9 i& qRefer to last example,1 j0 {4 o! ^1 {$ H9 e
that means bank A have no money because we borrow 10 dollars from bank A
, ^. I; i7 B- ?6 ]7 L" q* X( iBecause bank A doesnt have enough cash on hand 2 L* l9 z, H; Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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, t8 G8 q8 _1 K  KA->B->C->D->E! Y; [& r8 Y: L
so does it mean if E failed to pay D, ( G) O3 C$ L7 ~+ C
all the B,C,D,E have to go bankrupt?" X8 B# Y5 |5 M* f$ u
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$ I& v' c- I0 T5 j+ K" D* [
the multiplier just tell how much money created in a whole economy,
. i4 ?; W0 g" W- \3 b5 }9 F$ U% [in this case it doesnt really matter how much money is created,
6 m& ?! e' c, H3 b% I; jit's the problem of the debt itself.
3 |5 c9 L" x* t4 t* m( v& \' fthe 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
  O% W/ a# n1 i3 Y小弟一直都唔明...
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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3 A) J/ ?* Z( N6 D0 P  r
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Thanks

$ t7 z  p6 N- M! _# Y1 S8 j那些根本係 紙上財富  
# V$ z: p2 N- Z0 `2 |2 G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
1 i* A3 Q; t0 m) C# P當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( d/ @+ _9 ]# ]: V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! M0 i0 g* }  o1 i/ J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦5 `# ^2 E$ J/ g8 F$ u5 k3 u
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 _& E  i) W+ l/ C, J+ t1 c9 A1 U
計番回報率就已經係50%,所以可以好好賺* w4 y& R8 p/ _  h2 a' o' Y
前提係銀行之間要互相信任先可以咁樣借法) y) F8 B! v0 D! C' }
同埋個市場既前境要係好先得
' h4 L$ V$ v) h/ r但當經濟一差,公司估值趺了,物價不升反趺7 x9 @7 M2 e7 z
例如剛才說10蚊的, 趺到得番9蚊,
9 Q; m9 l4 W7 E0 C% ?8 Y, _, m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
- z, ^& }- Z0 \& P所以你就會覺得D錢好似蒸發哂咁0 e8 x8 b( ^& m7 F, m* V

, T9 D& k2 i% c0 \& R3 {3 I5 ]6 o你都可以當標野咁諗, 個樣野多人可以狂升值, 6 A3 a. z1 v4 g: z, v. Q9 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,
3 n, u# @" A$ i. w8 d4 T: Y: S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / o; G6 `! ^( I+ O* a0 K
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
* {* R; F8 N- u! {3 R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
3 u" f6 o+ I8 F唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 y0 J+ h/ e5 S) H' T- w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 w; j  y5 ^6 a0 U7 R8 Y% n
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
8 v1 e0 R! n- U3 f* ^# `: w5 h咁你話d錢蒸發左去邊? ...

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* v  T$ b9 g& G" I: ]& [! i正係咁樣
1 w+ \& m6 m: n/ w& U6 D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
& i  X9 j, Q! W9 t( K分分鐘佢地唔使還錢
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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,
8 b' J/ d; D' O連國家都係問人借, 不停發債券, 印鈔票- A* h) o$ s) {2 g
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產  v! c. s, Q' X$ @
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
" ]" P9 c$ w5 X* x咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 V- \. D* k4 K( E3 }' Y4 H其實係...! r' ~% Y; o4 @0 n# M
因為以前未生產, 先消費
+ G! \, c8 h& n1 t! E% T& Q: U. i而家就要多生產, 少消費