0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ G: f8 R8 C3 T6 J
Why bank will sell 借據給第三者???
* N0 j/ j3 N( [* ^! n; f0 ?I was so confused.....

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9 m4 |  {0 {( j3 Q! ?講到尾都係賺錢
- `( O* {7 x2 T7 [2 a$ ?0 vso銀行可以不斷放款
' O' b* b6 P. y" g# Z& K" I1 E& N! [美國的房貸問題散佈到全世界1 U' u( w8 c6 a, Q1 R: d
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mortgage loan
/ Q$ e$ o% V& L" {; z>conduit
0 E1 h6 C' |9 d>RMBS(Residential Mortgage Backed Securities)
2 w1 \1 ~2 I2 J>arranger( e* U3 k# c' b; w0 N- L
>CDO(Collateralized Debt Obligation)
. O* K% ^  T- ]% M' p最後去到投資者

Kev

i thought it is the reason of rate of return.
) l2 u$ r9 O' D9 X2 U) eCDs could have different ratings, AAA -> F,
/ t; ^2 A4 |# F0 b( Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' K) x9 Q& W' X% pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- T1 Z3 q) s  W4 Q) Q3 j: m+ V% A0 B" t* L+ P
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 j2 t! A* f* Q4 S: xAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: Y3 F: `  T0 C# J  N! P# l* a2 bsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 [% ]1 y5 w# k! q! K! @+ knormally the value is calculated by adding it's principle and interest.
% w' g( b, x* z3 }+ h8 O& j0 n0 ~eg. the value of the mortgage+the interests to be recieved in the future.
" N6 a" l1 z+ o1 w4 g, G9 Sbanks 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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, p  p5 |% L7 ], X7 j; E4 T$ _im not quite sure if the multiplier effect does really matter in this case.* `; G# z5 `$ v9 L+ d
in stock market, it's the demand and supply pushing the price up/downwards.. \9 W8 K7 Q& M. G5 L3 Z$ S9 r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 b- }% d: m; E# H; s) F7 z1 |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% W: L* t) `( U3 ~( G' H" ?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.
" y! _% G. Y( ^( i3 \, j- y, G$ zbut the value of their assets did really drop significantly.* ?! c: j; r, p
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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& X9 ~. R- Z) G, R5 h4 }/ X0 [Refer to last example,/ k6 M/ M$ X; p3 G& P8 z  L- {
that means bank A have no money because we borrow 10 dollars from bank A % M- e( [5 ~4 V
Because bank A doesnt have enough cash on hand
& K) T. D) y8 R! s& ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ b& ?: B! U' F# T5 C2 C# p* TA->B->C->D->E
' p. f+ D+ Z1 b- |" e8 dso does it mean if E failed to pay D, + q; Q( {" l) W4 p, m
all the B,C,D,E have to go bankrupt?
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1 Z$ @4 o3 T) H2 [5 N, dthe multiplier just tell how much money created in a whole economy, ! b7 V  u: C& L5 a
in this case it doesnt really matter how much money is created,
9 c) c% @. w& M) E2 ?$ a* k9 [it's the problem of the debt itself.' [% E& \9 I; a& A* Z# w" L
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
% W1 c8 w  j$ W. ^1 Y小弟一直都唔明...2 q. M% @6 u/ y; v+ H2 I* B
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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 {: y9 p2 }( m# w- h
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Thanks

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那些根本係 紙上財富  1 m: [2 T6 y* E* V' L
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 graphic1 r& \( S2 l7 [  C
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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" ?) U/ q9 n$ A/ U* `3 ^: L& m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. H' m2 H# b. G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
+ Y2 l! q4 w) W5 R$ r; z個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' i5 k8 W  O$ ~% b; g0 W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! u; Q. {2 d* s- O/ T0 M5 n計番回報率就已經係50%,所以可以好好賺/ Q( a" M/ A% I! f  y
前提係銀行之間要互相信任先可以咁樣借法
; X! l2 p  X. Z, B) F. j) i同埋個市場既前境要係好先得
" g# j% @5 l* a但當經濟一差,公司估值趺了,物價不升反趺
4 U- S8 L. G3 m+ T- x- T+ C' I例如剛才說10蚊的, 趺到得番9蚊,
- ^# ^4 g) G, Q! b( e咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- k: F& Q# X$ J2 r7 p
所以你就會覺得D錢好似蒸發哂咁% {# b3 \1 o, Q: e

, g# |5 H6 ~; s6 M# L你都可以當標野咁諗, 個樣野多人可以狂升值,
% y' \1 @& S) v7 @0 o: k: E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,
) }$ b' e! b6 ~: l1 T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, W7 ^/ H/ {3 O, ^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) T6 I8 j2 t. ^* j" J
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 F. ]  \7 S) _. J; q! h唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- t  g2 c5 `& M5 B$ f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 M7 N3 ^  m) R
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 G2 H4 {: A+ i" W( s咁你話d錢蒸發左去邊? ...

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正係咁樣" M' C+ d# ]" 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" Z8 B& h5 i( B, y" x. u  i3 H
分分鐘佢地唔使還錢
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( [4 F7 g5 B3 V. C) G2 R; y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 E1 |; x8 P7 C$ {連國家都係問人借, 不停發債券, 印鈔票8 F7 o. y5 }( M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ e$ a( P/ S; F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
1 ]) N: a6 ^( N: e( c& S# y6 H咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.... {, S6 P# t& e3 _
因為以前未生產, 先消費
# m( m4 p& _5 y) i, \* _6 W而家就要多生產, 少消費