0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: {/ m0 w- U4 D9 J$ ~/ `
Why bank will sell 借據給第三者???
  G% s3 ~5 m$ p# R4 _, WI was so confused.....

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% q5 Z8 o( u- t& R2 K+ J- n& l5 x4 Z講到尾都係賺錢
2 v( E- K9 Z( W3 ~so銀行可以不斷放款, c3 e1 t! \, ?" [* O; e
美國的房貸問題散佈到全世界) n$ F* [: v$ t$ [' b
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
6 U5 C0 J, `  |  c7 `最後去到投資者

Kev

i thought it is the reason of rate of return.
0 M+ y; Q/ t& `9 o; `1 X5 X' jCDs could have different ratings, AAA -> F,1 O- l3 U% U* U/ \
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* o% e2 K' Z( D  mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, w7 M5 n% D  t- R) ~0 s) m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" k5 ^! T7 ~6 G3 a9 f( n; yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( x" s+ g$ O( E9 q
similar to bonds, CDs trading in the secondary market have different value at different times,
# w7 U& H# L7 pnormally the value is calculated by adding it's principle and interest.
" [$ c' B" B0 Y5 j2 W. b+ @0 P+ \eg. the value of the mortgage+the interests to be recieved in the future. / m4 N+ B+ ^+ h
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.
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9 {- f9 M  M2 p. S2 Yim not quite sure if the multiplier effect does really matter in this case.& m) Q) R5 y& C; l
in stock market, it's the demand and supply pushing the price up/downwards.
' l) r; x* |) y/ U; b$ DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 a( {. x& o$ o
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: |1 H7 n1 O+ E+ ?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.
8 D& o! u3 A0 H4 U4 |0 T- Fbut the value of their assets did really drop significantly.9 E5 V/ V" W/ x1 |5 l* @& N
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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
' d; T. p/ v3 |4 H& ~0 c/ S# lRefer to last example,3 y) Z8 |- G/ f$ \: i0 U
that means bank A have no money because we borrow 10 dollars from bank A
. |  M' j, n4 w0 |* k  jBecause bank A doesnt have enough cash on hand
+ r7 B, W5 w- {! {. ]2 U* \therefore bank A need to be bankrrupt ??? Am I right ?? ...

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- m  @6 h( F2 a& J3 @9 |A->B->C->D->E9 B+ G2 @3 i' q& ]2 V+ w1 [# x) H8 k
so does it mean if E failed to pay D, 3 t1 T; A; ^% x
all the B,C,D,E have to go bankrupt?
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& J% E+ I+ S% o$ U2 Vthe multiplier just tell how much money created in a whole economy, 2 _! M, ]$ `. Y5 M2 Z
in this case it doesnt really matter how much money is created, 7 q* q* b, S) \
it's the problem of the debt itself.
: M  C+ H/ b  `2 mthe 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.gif6 y6 {7 b1 S3 t& g
小弟一直都唔明...2 f' Y! P( ^- `, Y) m" R
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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..., O* X0 A# X' O+ o& g/ W
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敬請各師兄解答
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+ g7 W6 u! y5 L& H- lThanks

: ]7 n/ E; f) L3 z$ J那些根本係 紙上財富  
- n. s) R3 j- J& R4 Q7 j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( k7 w7 X) j# \3 w$ L7 M

( j, |" P% h* I6 f) @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
) ^# H# l# L3 Q* A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( _& w" `" ~3 ^& Q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, Y8 _) U; A1 A. A+ V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( [- Q1 y  K1 g7 k3 |# k9 v扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
' h7 F" ?7 C. X- H) Z5 c( M* f- J1 n計番回報率就已經係50%,所以可以好好賺
% N* j7 n7 |1 [5 j2 ~$ O前提係銀行之間要互相信任先可以咁樣借法9 O* t) n" b4 F" l" W* `! V' A1 V
同埋個市場既前境要係好先得
+ `- [+ `# j4 q/ l- o& W但當經濟一差,公司估值趺了,物價不升反趺4 M$ q# x; a9 M
例如剛才說10蚊的, 趺到得番9蚊,
: W# r/ p. w0 h# {! C  e8 B咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* O/ T% q$ S+ L8 E* |: E) s( A
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, & S8 Y9 h! i- u0 J6 M9 q
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, + L8 O3 g& T' [$ s1 |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 `( ^  @, w5 N- o3 m
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' r5 E4 D) v! `1 `/ b' g7 `
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 [- P/ i+ |
唔係d錢蒸發, 而係比美國佬洗晒未來錢, + X8 `1 a9 U4 H* U/ @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 v7 D1 r- t7 R  T: t' x3 t9 w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) q: ?8 ^( v0 o
咁你話d錢蒸發左去邊? ...

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) R; z* B. X, ?3 X5 ~! W2 t正係咁樣  R9 Q% T8 S" a( M, H
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
' A2 H5 k; r+ v# [4 ~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 Z( e: ]/ z. ~8 O; M
連國家都係問人借, 不停發債券, 印鈔票
/ p, ~' g* L4 s7 F( }' s9 C一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ B- r3 O$ K, N+ W5 A# E. G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
6 }4 W9 _( M2 z8 `) g. X' \咁而家"爆哂煲"算唔算先至係變番"正常"???

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9 C& f9 t- [' \* F8 ^& b3 n5 K- |其實係...
& c3 C% Z2 v* H因為以前未生產, 先消費
% n9 [7 p1 Q5 D4 o) b而家就要多生產, 少消費