0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% s% k) J! t4 M) QWhy bank will sell 借據給第三者???
! `6 p; s8 {% V3 YI was so confused.....

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0 X  r# d) Z* m0 g# w講到尾都係賺錢
- P, a9 S  B6 Zso銀行可以不斷放款! e4 x2 k' j4 M9 }+ K5 T
美國的房貸問題散佈到全世界9 K( r0 u. A$ s% @2 B* t3 Y( Y6 B7 C

1 c7 w8 ^1 f, `$ v( [+ o( gmortgage loan
! ?' ]" K$ h; u( P7 `7 d>conduit" q6 j4 K. w& X
>RMBS(Residential Mortgage Backed Securities)6 G" h5 E  z8 A3 |% `
>arranger
$ c7 F8 `/ O6 m>CDO(Collateralized Debt Obligation)) ^  W/ l% C7 R' U) x" z; r
最後去到投資者

Kev

i thought it is the reason of rate of return." w- W3 L6 }7 k/ V. e% w; g0 q
CDs could have different ratings, AAA -> F,
# Y- c$ ]3 s: T5 v/ d( umore risky ones would have higher premium (interest rate) as a compensation for an investment.
) X9 V5 M/ `, m; v2 L- Y2 t( v$ Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; g  ]1 D% V. P7 x7 p, k6 N  j
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, J$ V: l0 r' e# B+ q  ]- j  EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& h+ F6 Z+ N8 R% q
similar to bonds, CDs trading in the secondary market have different value at different times,
4 y; ^9 V, `4 N" ^5 hnormally the value is calculated by adding it's principle and interest. ; C9 l1 Q# L* G+ L
eg. the value of the mortgage+the interests to be recieved in the future. % f) [, m) k- t4 E# @$ 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.
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* \6 c  ~) G% [9 j  Jim not quite sure if the multiplier effect does really matter in this case.
5 l/ h* C+ ~5 a% U% M4 y$ G8 l( ein stock market, it's the demand and supply pushing the price up/downwards.8 k" K( ?, N: W) N. m5 Z/ o
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' g) ~* ?- i# `9 H. W& r# o9 q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 w! J% S$ S7 k: r! sThe 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. ! v9 C! ^( J0 B* Q& G
but the value of their assets did really drop significantly., x( F" z- c1 x. }3 E5 r

( [0 r) G5 V$ q+ ^. j- S9 k7 f[ 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
. b& u% r. j/ q1 V6 y- N) S+ W  HRefer to last example,- w" d& ~" ^& K+ R& i; Z
that means bank A have no money because we borrow 10 dollars from bank A
' I  c; \9 l1 u9 R8 x; ]3 NBecause bank A doesnt have enough cash on hand
) e" z1 M4 ]: V3 ^, [therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, W& `* F8 r; `: a0 P
so does it mean if E failed to pay D, % f2 M: z0 _) d5 F
all the B,C,D,E have to go bankrupt?
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: ^, a+ V  _: X. J0 z" cthe multiplier just tell how much money created in a whole economy, : F0 l8 e9 N/ l3 I& X4 \  i
in this case it doesnt really matter how much money is created, 4 N7 R2 |( Y) N  T' b
it's the problem of the debt itself.
2 i# M) b3 C  T  othe 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
! I, `4 T; G( T% v- ?/ k& _小弟一直都唔明...
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9 _) z9 k  T: h1 x5 Q4 h2 n6 B0 c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...: r. T  U: ]' F
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敬請各師兄解答
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  I' W- ]% ]* V5 U7 hThanks

: J( M/ F( Y9 [! S. D" k那些根本係 紙上財富  % R9 u+ I9 a* V$ ~1 {& t7 t5 Z3 F
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  [8 ]7 A9 J0 c! d/ i/ Z2 D3 {2 y
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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
" ?) T; v9 r+ T! x當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! q* ^# h+ C) @- `' H) }  E! Z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
4 z/ D! F8 o- L% S) n/ j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# ^6 M! k, B# }7 C& [" A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, H* O2 q2 I& O0 t1 N
計番回報率就已經係50%,所以可以好好賺
/ w) O5 A% s: g/ C' O: ?! {( L前提係銀行之間要互相信任先可以咁樣借法
; ^6 W9 H( z$ f% J0 W同埋個市場既前境要係好先得- z( R2 L3 F. b* d# G
但當經濟一差,公司估值趺了,物價不升反趺+ @" Z0 q" x# n  u- |
例如剛才說10蚊的, 趺到得番9蚊, 0 H9 C1 h8 p- i  m$ D, K( Q8 M
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
) B; v1 }& b+ z  O所以你就會覺得D錢好似蒸發哂咁& u% j3 e9 Q1 ]# l7 i# k

, K# {+ w9 C$ Q0 ^; R! G6 V9 K你都可以當標野咁諗, 個樣野多人可以狂升值,
8 H' h- b/ M3 J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 I" ^8 O5 _5 a+ [4 Y4 _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 o+ k/ K* k: X: O7 `( J) f; 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) f& O5 [; q$ c! s
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
, M  u( H. q* g唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 _$ s- |5 l# O2 m1 U2 H  I' X8 d
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 X% m8 b% H6 O/ a$ i% b1 F. 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
1 d8 f4 z/ r  |咁你話d錢蒸發左去邊? ...

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正係咁樣
1 `& z3 U# u  i+ f+ A6 T. v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) H4 c( |# p* [  g
分分鐘佢地唔使還錢& D8 w# J6 Y. a& E0 d9 N5 c
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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,2 V& `4 C: Q9 P( Y+ `( J! [% |
連國家都係問人借, 不停發債券, 印鈔票* U0 }0 e7 L# A
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, D0 N4 ^) d7 f" l+ K0 r+ x& \: C
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- v. k, H* x, o- Y, r
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ q2 A) S1 M$ v3 E7 s9 z- h5 p$ g其實係...# S2 j: Q* _" T/ o. P
因為以前未生產, 先消費' g6 f5 y; e/ ]9 ?. X0 c: L
而家就要多生產, 少消費