0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. P' H3 B& ?3 L$ nWhy bank will sell 借據給第三者???
8 N3 ]( e& ]9 m+ R+ hI was so confused.....

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8 K' t" b1 S$ l7 ?& Y: l講到尾都係賺錢: J1 ^' v% n$ u, F. a  |9 q& U
so銀行可以不斷放款
& W# L0 u3 q3 P1 p6 h5 l+ |美國的房貸問題散佈到全世界
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, x3 x/ M2 G( R% A! `mortgage loan
: z+ n8 U% z  W7 J; k) b# U>conduit2 b! \1 m$ G/ @1 G8 f) Y$ e
>RMBS(Residential Mortgage Backed Securities)
* f6 j# W. q) g6 c' f0 \>arranger9 v" b2 Q1 K. h
>CDO(Collateralized Debt Obligation); X: [6 q, s6 V. U. W% q
最後去到投資者

Kev

i thought it is the reason of rate of return.6 j* o) c8 a2 G) Q1 a9 r) ^
CDs could have different ratings, AAA -> F,7 E6 i2 Q" U9 p8 L
more risky ones would have higher premium (interest rate) as a compensation for an investment.
% \8 b: M. }$ n! W, Z9 umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 p1 w" b" V$ q: x7 j' q: Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 J" q* _+ y+ |3 R' K' \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 f1 o( U, V2 o  ?. Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
) i  F# U; ]9 |) X/ ~normally the value is calculated by adding it's principle and interest.
3 w; `( C. G& T) X1 Ceg. the value of the mortgage+the interests to be recieved in the future.
8 v# V" j7 s1 Ubanks 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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. U! f; O4 g4 i+ oim not quite sure if the multiplier effect does really matter in this case.. {! q6 P2 `$ V8 U& X' P
in stock market, it's the demand and supply pushing the price up/downwards.$ f& z9 [* J9 t% X5 ^" }4 v
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" u( _! x/ z! U9 `% G% k! gA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: _4 H/ g& `) c0 B- NThe 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. 6 y0 {$ n8 ~* y9 j$ B5 y
but the value of their assets did really drop significantly.
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0 z1 K9 F5 r# \8 O9 r7 Y1 W[ 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
0 ~0 V; L% J# J' U1 f2 RRefer to last example,3 s, q. f1 i& m+ B- d4 t# L0 V( e
that means bank A have no money because we borrow 10 dollars from bank A
. l& g$ V8 Q8 r4 I+ J( W. q0 ?Because bank A doesnt have enough cash on hand
6 X- v' J* @+ H: l+ Ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E5 ^. p) C5 k4 S5 l, J+ E& R: V9 g
so does it mean if E failed to pay D,
* {6 g5 w( Y# Nall the B,C,D,E have to go bankrupt?! B2 `3 Y& c4 B0 X
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' \9 e) a7 [/ |; f8 M3 }1 M5 o7 Rthe multiplier just tell how much money created in a whole economy, 6 J- G& E; k4 q& ?
in this case it doesnt really matter how much money is created, 6 X( j! }( e: f9 |
it's the problem of the debt itself.& D; t. U2 ?( b% m5 w
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
% L/ X7 A0 b4 D& q2 H小弟一直都唔明...
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! g& U7 o6 y6 ]: g' z全世界都蝕錢，咁邊個賺緊錢呢?+ H6 f: w( h- h& k4 ^8 g
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無可能淨係有人蝕錢無人賺架嘛...4 f- l* g) r# z

9 g* ?+ o. s9 ]  b, m( {3 U敬請各師兄解答
3 O% K9 _) ]" |# d% M+ \) f* ?  k
Thanks

) ~6 v5 N4 V8 x8 f. `2 T6 M6 n那些根本係 紙上財富  ( S# A# A6 D0 `" r+ ]7 t
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
2 K" z3 b' a9 T* y7 v3 Q+ P當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# R" D, `& q/ ~3 P1 G6 ?6 T
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) F. q! J. b0 h! s5 ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" S2 s6 b+ c) Q+ i0 d扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  d: P4 Z) A- }計番回報率就已經係50%,所以可以好好賺
! k9 t5 B+ Q5 w* Y1 o前提係銀行之間要互相信任先可以咁樣借法4 N8 [2 ?  r- O& u
同埋個市場既前境要係好先得: P! e4 Q! c$ p2 L
但當經濟一差,公司估值趺了,物價不升反趺. m, Z5 r' x) b+ l; v+ C2 g
例如剛才說10蚊的, 趺到得番9蚊,
& Z0 B1 E! b, L- I咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, E, Z: ~' h3 Q2 o( n  |* g
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,
' P( H, ~2 W/ a, M2 l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, + C3 Y1 l) J* J3 l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + e' r+ H) n" }7 A4 B, C- S, 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
0 O- A" A$ L" Q. T/ E) k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
% T! n4 k# O/ u唔係d錢蒸發, 而係比美國佬洗晒未來錢, % J0 z  u) P5 m: R' m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / {; d# b0 O0 O  L
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
. K1 n0 \( v0 L$ E$ K咁你話d錢蒸發左去邊? ...

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正係咁樣9 S# {" M2 e8 v- s( a
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
* C2 L6 I/ t7 T% a$ p分分鐘佢地唔使還錢
9 C% K; d+ u+ k1 N" q" ^* G& O& @0 a( a( n7 V8 s. y- x
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,9 d- n" W5 S! h
連國家都係問人借, 不停發債券, 印鈔票
& r2 M* ~" L# j0 ]2 Q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  ~/ Q; e- T! d; J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
! G7 T3 m" r7 q, M咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 o% e& E" R5 m6 r6 D因為以前未生產, 先消費
* o- `& H' Y/ T6 R/ F: V3 W! H而家就要多生產, 少消費