0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 {& _4 {6 W7 B! Y/ e9 \% _, GWhy bank will sell 借據給第三者???
' W) w7 G7 X. w0 Q$ T- B8 X' S& {I was so confused.....

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講到尾都係賺錢( H# [" A7 x/ `  O6 w- ~
so銀行可以不斷放款
' h/ |7 c, x, ~# C( {0 P# h美國的房貸問題散佈到全世界# A9 o( R- E- L4 U% g+ t: u4 g
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)" M! B8 |! M+ l4 h2 r: p# X
>arranger
" V1 ]6 m3 f3 o) X  @9 i( x>CDO(Collateralized Debt Obligation)
$ {+ T' y8 j/ V6 Z8 O+ p/ u, B1 m9 }" b最後去到投資者

Kev

i thought it is the reason of rate of return.; {# `+ X: P6 U8 `  n$ t
CDs could have different ratings, AAA -> F,
2 V! p8 L* G( q5 imore risky ones would have higher premium (interest rate) as a compensation for an investment.: k. d$ J* D# W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ G: d- {0 X7 d0 h( V* l
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 q* `( M5 k2 ?) g0 ]Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: u$ M% ~. K' f$ P
similar to bonds, CDs trading in the secondary market have different value at different times,
( f- j7 H9 O2 G* \) ]7 H- V. y8 c" Enormally the value is calculated by adding it's principle and interest. 3 \2 G1 V  f2 L: [7 t3 t
eg. the value of the mortgage+the interests to be recieved in the future.
  _  b6 ^3 z( h  [( n1 P' Hbanks 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.% K( t( C) |# p6 P
in stock market, it's the demand and supply pushing the price up/downwards.+ ~( v2 c; a1 Y" w3 C0 l
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% \) `/ s$ S$ w. ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 P9 N& Z# k" |( 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. + O% G) J/ Q. x: b
but the value of their assets did really drop significantly.
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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
% ?- s% o. F" Y6 X3 ORefer to last example,; v2 G' T3 ~$ x
that means bank A have no money because we borrow 10 dollars from bank A
8 Z! q( j* [9 d5 p5 SBecause bank A doesnt have enough cash on hand ) P4 J1 ]6 R8 g8 Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& W: |; O- @+ @! I6 ^) Q( ?A->B->C->D->E
  X( N7 e2 e: h% a+ l/ \( [so does it mean if E failed to pay D, 5 G" B1 l& ?! c
all the B,C,D,E have to go bankrupt?" e8 f$ p6 C! {) k' Y& ]: f8 ~7 k

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' ~, h: x& L: q( [8 |) M) _* _the multiplier just tell how much money created in a whole economy, " {  T2 \9 ?- O, S. Y: E2 Y
in this case it doesnt really matter how much money is created, ! ?6 o" \, v8 P2 i
it's the problem of the debt itself.5 x5 V* [) ~" O1 m$ r+ D6 [
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
' V$ v% J( ]" b; G; L" n小弟一直都唔明..." }8 e8 T' B, A3 l3 W4 p" X' w
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全世界都蝕錢，咁邊個賺緊錢呢?: G' v1 k; M0 l) F
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無可能淨係有人蝕錢無人賺架嘛.../ [: Y; A) y8 p7 p2 O1 b) F: k3 ?
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
" {$ t) Q1 C! q' r6 L1 G+ I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
1 g* ?! W* r+ v) D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  L+ b  G0 w( {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
) ^$ Y9 o9 H, X) q6 J; U個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 J. S1 \* C/ u7 k. H. [; K扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, o. {6 N3 F' T2 ?9 X7 a( {. R
計番回報率就已經係50%,所以可以好好賺4 X3 [# l! T( l* Q# T% a9 z
前提係銀行之間要互相信任先可以咁樣借法
# l% o  g# j* e- l同埋個市場既前境要係好先得) ~. z2 V- q# q  X
但當經濟一差,公司估值趺了,物價不升反趺8 u9 j) h$ O  o6 w9 Z1 M/ h- Q1 j+ E
例如剛才說10蚊的, 趺到得番9蚊, 1 v+ P2 c2 q+ E
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" U& @6 Q/ h! ?! v所以你就會覺得D錢好似蒸發哂咁) l# z$ m9 I+ l; ~) Q+ r

+ }8 q# U6 R$ f! c8 c# k2 @& M0 ^3 O你都可以當標野咁諗, 個樣野多人可以狂升值,
& F0 u9 \; ~3 q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: x1 X6 ^& ~+ U4 ]; L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 [: J5 w4 ~- M5 e1 h4 S0 Y
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 w  s6 k$ j, z, u2 W1 _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.gif3 Y7 Y; }- R( j6 `
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 s3 O; c& ~& N# y9 N1 a1 M8 G# }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) t- N  h! ]8 B7 R: 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
# X5 m2 v  u  E0 {咁你話d錢蒸發左去邊? ...

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* y. n& I5 T2 l# c4 {' e8 w& @正係咁樣
+ q0 m6 |' H5 R  a$ C( ?3 p9 I- [% ?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
  e7 E9 Q' K" ^9 A( r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,# {6 l3 v/ J3 u$ R
連國家都係問人借, 不停發債券, 印鈔票
& O6 w8 W/ W: W一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 J9 A$ S, [( N6 R
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  l: c, k1 v' S9 Y  L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
% c8 a2 s+ ~- k, l: m# Q因為以前未生產, 先消費
2 d$ j- A; C6 X, N6 [; l  Y而家就要多生產, 少消費