0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" l' |0 o" {! X: S6 [( GWhy bank will sell 借據給第三者???
2 ]$ @0 V. r& b5 ~I was so confused.....

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7 p! W0 U! G: d. }& @# e講到尾都係賺錢
# G  E* @: D7 t2 c6 ^  q! Dso銀行可以不斷放款% a' g7 q2 }! U1 ^0 w9 g
美國的房貸問題散佈到全世界
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mortgage loan
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1 V2 ?6 m# p; G# t* C6 e/ T>RMBS(Residential Mortgage Backed Securities)3 G5 L& z4 o5 k" u" _
>arranger  j+ j) }0 C* Q/ i
>CDO(Collateralized Debt Obligation)
8 s% Q: G& ?5 a% M/ v4 I最後去到投資者

Kev

i thought it is the reason of rate of return.
" B# E& S. F1 b* N2 F/ iCDs could have different ratings, AAA -> F,4 u; s4 e' T% y2 [( q! Q3 w' L8 L" B
more risky ones would have higher premium (interest rate) as a compensation for an investment.
" J' G3 l) N, V3 j; [3 J7 s4 Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- `, |, ^& P: H3 w+ ~, ]0 ]& K3 N% q
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- s' m  E! m! r1 \& {! u2 u- XAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ J; Y+ e2 y2 x( x: x7 |/ `9 U/ Ysimilar to bonds, CDs trading in the secondary market have different value at different times,
( P. K: t& O, F; Q# Qnormally the value is calculated by adding it's principle and interest. ! f) d# B3 q7 I
eg. the value of the mortgage+the interests to be recieved in the future. . n0 b5 X) B$ `& D
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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im not quite sure if the multiplier effect does really matter in this case.
1 ^& n3 h" b2 j' ~% u0 Min stock market, it's the demand and supply pushing the price up/downwards.' X# l& t/ Z2 S+ A+ ^
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 Y( Y9 k- Z4 ~" \
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. }& g9 T# a* {6 i/ J: bThe 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.
: R! ?6 R/ D0 I0 o" t% e9 wbut the value of their assets did really drop significantly.
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9 ?9 L2 A1 U0 F# K1 B[ 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
8 U, X8 j/ D: h) l, FRefer to last example,; [( w0 C' J, c
that means bank A have no money because we borrow 10 dollars from bank A ' n1 T& a+ n# P9 H
Because bank A doesnt have enough cash on hand 9 P9 y/ E. z2 t( L
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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, T7 ]4 q9 M0 j, ^* |A->B->C->D->E9 j. @5 u9 n1 z; Q( O
so does it mean if E failed to pay D,
& e3 @/ @4 s: @; D: c) Xall the B,C,D,E have to go bankrupt?- J: h; S5 [( }3 Z

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the multiplier just tell how much money created in a whole economy, 8 x) k9 u8 M5 w' S
in this case it doesnt really matter how much money is created,
7 ?8 h' r2 [( w( {6 pit's the problem of the debt itself.5 K. {& r! @3 B' L- t2 [* f
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
* A9 U# S' n1 H! E5 r( N小弟一直都唔明...+ r1 o8 e. A& Q, Q& h) q8 [7 S! N9 `
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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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1 X3 o0 w+ D' U6 o) ~; F+ G& W1 L敬請各師兄解答6 d: g/ B3 S: q, q$ A
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Thanks

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那些根本係 紙上財富  
, N! J: P! O3 Y+ {: G! |+ S4 q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& s5 E: p, @2 u0 k. a; j

, V1 U2 A# t- T0 p& \2 ?6 Chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產6 n1 l3 r% Z: n6 w% f: _) g' ~
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
/ B0 g5 S9 ~$ j; V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& b! z8 C7 w8 [0 R$ t$ N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- z3 U  i/ u+ f6 R1 N# t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ d, t# u) _$ |" h" j計番回報率就已經係50%,所以可以好好賺
$ {3 X3 z+ E$ V7 I8 ^2 g5 ?前提係銀行之間要互相信任先可以咁樣借法- ?' g6 d6 }( n3 F6 ?) k: f' O" ~: Q
同埋個市場既前境要係好先得
% A7 b: c' A; [% g; i/ E$ A但當經濟一差,公司估值趺了,物價不升反趺( u6 c$ D  i1 F3 f
例如剛才說10蚊的, 趺到得番9蚊, - ~# _8 {6 g( Z( o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 X; e" L! a( s/ K% W所以你就會覺得D錢好似蒸發哂咁
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: p* V7 V7 Z# ]# F4 w# p1 c3 b你都可以當標野咁諗, 個樣野多人可以狂升值, 2 u' p* l% [) u
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, ; {) K# p2 \% K. K% b5 E1 j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 E5 |/ c0 W; H9 V" 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
1 O. w+ b$ n9 u8 G4 C, P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; e' w' Z5 O9 L% P- Y- N& x2 [+ f- h
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; P- b& {3 ]5 B- I- y/ ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / F; A  I3 K7 E! F+ 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
; F/ A5 P. V5 O2 {咁你話d錢蒸發左去邊? ...

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& N7 \2 _! J6 [4 M2 Y) l3 g( N正係咁樣# Q2 R; T+ N( Q- t4 ~& 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6 S! [" p) Z' |
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,
2 @* J3 K' |8 J' P" N* Z連國家都係問人借, 不停發債券, 印鈔票
9 j+ |+ p$ g" z$ `. M& S9 d一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: e$ r1 @8 S, L& P$ 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
% P* k, C; I) f& m; P* V  ?咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...0 Q! w; `6 g+ u( k
因為以前未生產, 先消費
) ^, N1 h' y. Y$ W* ^8 K而家就要多生產, 少消費