0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* \8 W, {1 C5 jWhy bank will sell 借據給第三者???. ?+ ^! N1 S( j5 i5 J' T
I was so confused.....

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* \! b3 f9 g, x7 [. [& Q4 f講到尾都係賺錢
: H; l/ X& ]9 W# M: _" Gso銀行可以不斷放款
" \  Q. z. i- g+ y美國的房貸問題散佈到全世界
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mortgage loan 7 h/ x1 `, W& Q  W
>conduit
/ X' j9 m: @4 v& ]1 t9 v. s>RMBS(Residential Mortgage Backed Securities)' \9 h4 T( Y6 Z6 q
>arranger
' H; h# ~6 d8 M; m>CDO(Collateralized Debt Obligation)
- p* N$ Y9 _% x最後去到投資者

Kev

i thought it is the reason of rate of return.
+ U8 N0 h8 p; p" L' D0 y& \CDs could have different ratings, AAA -> F,4 F% s8 c' S2 D9 c
more risky ones would have higher premium (interest rate) as a compensation for an investment.) G7 m7 B7 _: {& G6 e- Y* U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; z$ A) t% ^5 {! ^: Uin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 ]8 C1 b7 ]$ l' O8 y. U5 _Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 w  G1 N0 ?5 e, _% R' Fsimilar to bonds, CDs trading in the secondary market have different value at different times,1 G3 N4 P9 Z8 t1 j
normally the value is calculated by adding it's principle and interest. 4 J; _" |9 W- r. b) n
eg. the value of the mortgage+the interests to be recieved in the future. 9 \7 ~! D9 ?  u
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.- G0 W9 Z' ?# y+ r
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im not quite sure if the multiplier effect does really matter in this case.
9 K; H$ b5 j6 a( n( m, Ain stock market, it's the demand and supply pushing the price up/downwards.
6 O8 v/ _0 r* B3 A5 a; {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& e! B* K3 s. ]' m, c) |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 Z# v4 e6 w$ a
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.
  d/ ~& m9 T, c3 i- \but the value of their assets did really drop significantly." x. C: H1 g$ H9 [8 Z2 d
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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
2 Y: E$ u8 O0 w0 u) _3 Z% v% B8 dRefer to last example,
4 M& _* d) n, B' k+ Lthat means bank A have no money because we borrow 10 dollars from bank A
- f2 L. i4 |9 YBecause bank A doesnt have enough cash on hand
0 Z$ g! H5 u  n2 J# R: N* stherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
8 g! \) W( G: W- J/ v+ q0 z0 Bso does it mean if E failed to pay D,
# i5 V0 O; o& V- ~1 ~6 sall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
# j+ `3 w7 [# g/ win this case it doesnt really matter how much money is created,
9 r3 ^) c4 l, ]; n& P1 `it's the problem of the debt itself.5 ?9 w  e; q/ |& ^( o' Q
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
5 H$ u7 B9 G1 H" G9 f  ~小弟一直都唔明...2 \5 c+ |' i) A6 b8 L; P
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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
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Thanks

4 _( G2 \3 G+ }# ]/ T* V; |
那些根本係 紙上財富  
* N6 C2 J0 m' A! x' Y$ t# X9 m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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! E9 D1 F4 U/ k- nhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
) e% f4 K' T  f( ], g$ J當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
9 C: i0 O* n, |$ y& {5 I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
2 p) k. {6 R$ _" `個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ N# v6 u( c5 Y' S& R
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 e" |0 R4 |0 Y
計番回報率就已經係50%,所以可以好好賺
" }, a  O2 j1 {  ?2 y$ C/ d前提係銀行之間要互相信任先可以咁樣借法
1 ~0 D2 |' Z5 l. F6 a同埋個市場既前境要係好先得5 J  z3 ?; ?& B; N
但當經濟一差,公司估值趺了,物價不升反趺
: }  P& n* {* a5 }例如剛才說10蚊的, 趺到得番9蚊, . c! l6 j, Z6 a1 ^5 X. }
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# b  M" H/ a1 U  \. l, h+ v
所以你就會覺得D錢好似蒸發哂咁
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0 V1 ]- t5 [; i5 u. L* [/ a你都可以當標野咁諗, 個樣野多人可以狂升值, " X4 Y' t8 O8 P9 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, ; r" \$ y% V7 y% U" H3 c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 f) G$ z% ?4 P/ D, h9 {6 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9 b# n9 j% _  C& g5 u* _1 P% m
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
" I5 x9 f* {- E2 m! c唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" E& o! ~, k. o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % S/ S# e* C, G' Z4 ~
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/ E; h) r$ E2 x- D) w
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 d( L* ~6 J8 w; 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
7 J- j3 Y6 O  ?0 x$ o9 x分分鐘佢地唔使還錢/ c2 t1 b. _, x" d3 V/ y3 H1 e
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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,$ k7 k- h2 \' R1 ?
連國家都係問人借, 不停發債券, 印鈔票8 F' I: d& {+ `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  ]0 s* k% ?1 a9 U+ r2 j9 h, E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  `. G2 H( S# r  |* C- u$ ?) p1 E
咁而家"爆哂煲"算唔算先至係變番"正常"???

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" W2 T$ [3 q2 J% F3 F* h其實係...) E5 ^" g% M6 b' p/ C7 t
因為以前未生產, 先消費( z" n: n  g$ R4 K) R
而家就要多生產, 少消費