0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 e* D- Z$ k) vWhy bank will sell 借據給第三者???
0 V4 U$ s0 z  lI was so confused.....

  k5 X0 y  Q9 B8 s9 S8 u( q5 F5 Y6 [9 w% T
講到尾都係賺錢6 h/ {' k4 b- h8 U6 c& S: e: y
so銀行可以不斷放款
/ l/ R" N7 i3 ^% f: G! h美國的房貸問題散佈到全世界
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mortgage loan
3 u' K7 }: F6 O7 _; }2 z9 c4 c>conduit
3 y5 Y0 p) T2 h>RMBS(Residential Mortgage Backed Securities): P' e. K. E! Q$ X  c
>arranger/ ~5 t' U% Z) l0 h7 O5 g
>CDO(Collateralized Debt Obligation)3 D% D% t/ U9 ?$ S1 ~8 L
最後去到投資者

Kev

i thought it is the reason of rate of return.- B% R9 m  u) y- M7 f
CDs could have different ratings, AAA -> F,
# {* w7 h+ q. Q! l" ~; Cmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& a" e0 e4 ?, m" D- _! B& V) b2 Bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' @6 ]/ d: [+ M4 H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 V" T# q0 R7 L' ]# yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 |( E& a# f  xsimilar to bonds, CDs trading in the secondary market have different value at different times,7 D/ Y/ ~1 {6 K& e, S" k$ N
normally the value is calculated by adding it's principle and interest. : w5 x; Y+ F0 `. z& R) \
eg. the value of the mortgage+the interests to be recieved in the future.
; [; a: I% u* M% L7 B& 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.- W4 a) X5 M1 k
: e! n8 y) e5 G. o) e$ b. {
im not quite sure if the multiplier effect does really matter in this case./ K. h$ q( n8 d
in stock market, it's the demand and supply pushing the price up/downwards.- c& G6 H: T: s5 ]1 I2 K4 A" [* ~& M" v
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 d, W) l, |( r+ u( g
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& i/ x# H" a% d, l: I4 w7 i
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.
2 F% Z- G6 Z# e; R4 Xbut the value of their assets did really drop significantly.+ c# |, D: D) j9 d' z) j; p, J8 T. S

7 T: o9 A: X& T0 \% h[ 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( W! l" Q' S, o
Refer to last example,
7 f) U8 G3 W$ y/ T9 P, nthat means bank A have no money because we borrow 10 dollars from bank A # m, P# @# b' ~' S
Because bank A doesnt have enough cash on hand ; S+ i! |$ J* I6 `6 @3 E, d
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ M9 u4 @" m8 C+ _" h  s$ VA->B->C->D->E' q' N: W4 \# T  K% {7 G
so does it mean if E failed to pay D, - j% P1 w, [# U) s+ _% H
all the B,C,D,E have to go bankrupt?
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8 |' A( c; e$ \4 _6 X
; w& ?6 N- r! J4 }, ?the multiplier just tell how much money created in a whole economy, 8 A" y, w& ~) S6 o8 b
in this case it doesnt really matter how much money is created,
1 d; a( |& d, @it's the problem of the debt itself.
  Z' J! z0 [# s  J# y# \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
3 ?2 A! f. T; G' C/ d, G! E小弟一直都唔明...
& M% F; @2 q& \* Y! \9 d8 S7 a3 _" z0 d2 \
全世界都蝕錢，咁邊個賺緊錢呢?" B* t* s/ b4 `  g2 _( D% I
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無可能淨係有人蝕錢無人賺架嘛...1 [0 A2 C$ A/ u, J2 `

; {, j- M4 J! T1 m6 n# o; i敬請各師兄解答
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2 T% f0 Z/ u% r. V, ^% QThanks

+ h* r, a! _. b" U, _7 z
那些根本係 紙上財富  
4 P" M) Z: l. \  @9 A6 c0 J! ~2 Z* Y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
7 v& s& D3 ]8 V" i9 S當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. K( R# ^0 ~5 u* n6 @* g0 `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
* }+ P2 M/ l6 ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 A& p9 H* O1 M2 N" J+ d* b! O$ Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& J" s4 q' Y: s0 A9 G6 H+ `' C8 F
計番回報率就已經係50%,所以可以好好賺
. j$ t: M1 _3 E, L前提係銀行之間要互相信任先可以咁樣借法: ?7 V; e% l4 }" L3 X$ B/ l  \1 {
同埋個市場既前境要係好先得
  O- S+ s/ R  M0 `$ s但當經濟一差,公司估值趺了,物價不升反趺' W$ o3 h: T6 L8 ], A) \7 j8 j
例如剛才說10蚊的, 趺到得番9蚊, 1 g- M) H( E4 f+ @+ G8 _$ X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# c% ^& s4 W9 m2 k0 D
所以你就會覺得D錢好似蒸發哂咁3 w2 _9 w/ p7 v9 l' ~
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你都可以當標野咁諗, 個樣野多人可以狂升值,
+ I6 \- y1 B) b, r7 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,
9 S. x/ ?# Y) T) n( {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) ~' p/ [3 c& P  D7 E0 [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
7 @6 R8 j- @# Z# }; 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.gif1 P4 G; w9 [9 a1 t
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * f) H' C# U! p) N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 n2 j( d5 [* T+ v% n  }) _
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
6 U% m! n2 p  b- A咁你話d錢蒸發左去邊? ...

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) ]  j# z/ G2 B+ |  i* g2 `0 C正係咁樣  W& t& ^% q2 _" j( V
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* i( ~- I3 ~! ]
分分鐘佢地唔使還錢
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$ N; t) P8 H! l7 _+ i; U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,
/ u  y; T8 N: n' U, t5 n連國家都係問人借, 不停發債券, 印鈔票
1 h  ~* g: _# P: ]1 o- _一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. l9 @0 P& A1 i
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
: z+ h9 H2 x1 L# w咁而家"爆哂煲"算唔算先至係變番"正常"???

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- x# J# M( a2 @4 f2 @其實係...
2 p. D' s+ h) T( m/ v因為以前未生產, 先消費- C& [$ D6 p6 n$ g6 i+ d, c
而家就要多生產, 少消費