0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 }, L- K% a7 d% w% b3 e# _
Why bank will sell 借據給第三者???
6 p6 O7 Q7 ~0 X- Y; |I was so confused.....

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/ D( O% D. F7 Y  @, Y講到尾都係賺錢
; W- g) g9 p( u, A8 sso銀行可以不斷放款
" |; o% Q2 @. L" r美國的房貸問題散佈到全世界1 x. e' i- q3 Q2 q
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mortgage loan + r, k% o  I& N- `! ?
>conduit% u6 a; a+ Q& f# I* Y3 s+ Q
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)8 v7 Z9 {5 B- R1 K
最後去到投資者

Kev

i thought it is the reason of rate of return./ O4 s) s( z, g: O
CDs could have different ratings, AAA -> F,
1 T4 ?8 S7 U8 U; g+ Q4 lmore risky ones would have higher premium (interest rate) as a compensation for an investment., i* _" u+ @& X- _5 e- q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 G4 T* `1 z( v3 L. c4 ~in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  |0 k' _! ~' R: o% YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( o! p% j/ [" D& K
similar to bonds, CDs trading in the secondary market have different value at different times,: m4 u' c* P. A
normally the value is calculated by adding it's principle and interest.
1 O9 K2 G7 k" d8 c' A! `) _  ]eg. the value of the mortgage+the interests to be recieved in the future.
' m* P2 B6 J9 o7 g) G3 ]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.' G, ]0 J" f7 i# ~" |

' ]$ c" D/ n# ~+ Q2 y* Eim not quite sure if the multiplier effect does really matter in this case.9 i9 W6 s& P" b1 x3 H. U/ t  Q
in stock market, it's the demand and supply pushing the price up/downwards.3 r7 X) J' Z! t, d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 }3 {) T0 s1 v6 B- ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: ^6 h0 N/ O' d, F
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.
; p8 a# o: X& f( @& U) wbut 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' E0 x, b2 j: S1 S$ H
Refer to last example,$ y- c2 w( i1 ~1 ^  b/ S
that means bank A have no money because we borrow 10 dollars from bank A
# Y% ~6 y9 r9 tBecause bank A doesnt have enough cash on hand
. F0 X1 L1 w2 w6 h* D9 Gtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E& W% T% d" X7 c. ^, H
so does it mean if E failed to pay D,   z; i) b' T0 }, A7 x
all the B,C,D,E have to go bankrupt?7 t4 n. P+ k" u% V

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the multiplier just tell how much money created in a whole economy,
+ L1 Z9 ~3 l$ F  ~4 Uin this case it doesnt really matter how much money is created, ! a2 m2 }& o# O1 l' f- [* E% Y
it's the problem of the debt itself.7 f. e* A' @' @4 T6 q! e
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: a/ ]; t7 l" o$ z. T& f" _; u/ u; V" I
小弟一直都唔明...- Q2 R  u* ~0 X5 z
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全世界都蝕錢，咁邊個賺緊錢呢?* M0 Y! K$ u# [! i" P( {8 u! P

4 r( K# c8 T, L無可能淨係有人蝕錢無人賺架嘛..., E" W' C1 Y& n
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敬請各師兄解答6 m1 \) V, ?, A; c' \4 e

/ |8 V# p# |& K( r  ?  Q% k8 t) FThanks

- o, p8 y* A/ M! g4 y1 S那些根本係 紙上財富  
) u) m# A5 p' n  h2 u2 A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
8 a& C  s7 J  b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ z; _+ i- `# F, r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/ y- t6 }' k2 D. w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% r+ t' L6 W3 W; Y; W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 m$ J9 J/ }2 _% K" l" K# l/ y
計番回報率就已經係50%,所以可以好好賺/ |" @& H- k9 p. s: j* }
前提係銀行之間要互相信任先可以咁樣借法- l9 C2 Y4 H+ J# r% I
同埋個市場既前境要係好先得% l: |* U2 y/ V) b
但當經濟一差,公司估值趺了,物價不升反趺
- ]) E. Z& q' \9 i" f' f例如剛才說10蚊的, 趺到得番9蚊,
" `7 f- F1 P7 M% c* k, \6 W' g咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 g) H, x( d, k3 r/ m) {所以你就會覺得D錢好似蒸發哂咁+ Z; T1 Y- C  n( w

. `/ R: L$ y- o; A你都可以當標野咁諗, 個樣野多人可以狂升值,
! D, o8 k, E5 I8 U6 I& 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,
1 g! ?3 \8 I6 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ W: e+ N" u& U: W6 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' @7 h( B4 p; [
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
4 E6 M' K" [" G: k: S. w: W唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 Q. t  S+ V+ z$ Z' n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 `( D" R2 \2 ]/ c" I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; m- ~8 Y  _7 ~; l" K
咁你話d錢蒸發左去邊? ...

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正係咁樣
9 _- F% j- @7 S( ?" ?0 P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& }1 L: C) ^  H
分分鐘佢地唔使還錢0 ~% I$ _* B8 @8 o0 e+ B
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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,
, e5 z$ z9 C4 X4 ?% b# L% f連國家都係問人借, 不停發債券, 印鈔票0 T1 B. m& S6 r- M% }9 A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 z% T, X) x5 S* U
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" A* R3 h2 c' n8 c6 G+ O
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., W, S  b. o7 o8 e! U* C
因為以前未生產, 先消費0 U+ J* }4 {0 w7 k9 n
而家就要多生產, 少消費