0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 C# p$ e3 O$ Q. mWhy bank will sell 借據給第三者???
: p$ j2 P, _; ]I was so confused.....

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講到尾都係賺錢
3 h8 ]7 E; g! l7 }" Dso銀行可以不斷放款; G$ R; j1 x0 H2 k3 ?
美國的房貸問題散佈到全世界3 Z/ v$ Y8 k: x

" a6 {" b) t1 d& _1 cmortgage loan 7 [2 M+ A. A, c- d# I
>conduit. t: ^  S6 L* `, [& F
>RMBS(Residential Mortgage Backed Securities)+ b7 i/ W; h1 Y2 Q  n) I
>arranger
5 _: ^9 @# j; Y+ }>CDO(Collateralized Debt Obligation)% _( I! B$ C. F
最後去到投資者

Kev

i thought it is the reason of rate of return.8 g* A- c( p0 X
CDs could have different ratings, AAA -> F,& X# a+ F! r# D' k9 U- d
more risky ones would have higher premium (interest rate) as a compensation for an investment.- ?7 i6 z' m$ C9 n$ L1 Z3 g5 J
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 E" m# L6 E" h8 Y6 _  a; T! U" a# Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.! [# P1 j! F+ ?. C( I9 j( g6 I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* Q' i! S1 h4 z$ r- k) Z( B/ C
similar to bonds, CDs trading in the secondary market have different value at different times,
& e, L. @( A' R( z8 ^2 u2 ~% n: lnormally the value is calculated by adding it's principle and interest.
" N2 \+ @4 k7 N6 L; Y" E/ Z$ Z1 seg. the value of the mortgage+the interests to be recieved in the future. % Z) l3 s8 d  @7 x" D# K
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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( K& k" L" G+ W8 Cim not quite sure if the multiplier effect does really matter in this case.
; W; @. s9 `8 l% L; m1 ~in stock market, it's the demand and supply pushing the price up/downwards.
3 k* N, Y3 c% ~) P- l" v$ D5 ~+ {* eFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ ^/ H5 M$ A- S5 H1 eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 f" Y1 x  r- M) n$ Z* MThe 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.
8 N7 @! |! C$ i/ Y; hbut the value of their assets did really drop significantly.
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" W7 R7 r/ i' q* Q[ 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! f! t; s# T: V- m
Refer to last example,
5 _0 S; V. v6 C5 }" ithat means bank A have no money because we borrow 10 dollars from bank A
* h3 t% s& v1 B7 z3 aBecause bank A doesnt have enough cash on hand
7 v( h1 ^, V0 R: T1 B- qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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: T9 h$ x1 g% B% ]9 g0 F; ~  uA->B->C->D->E
  N( f3 ]6 O2 I  u- ]6 Qso does it mean if E failed to pay D, % e% `5 w7 N6 e6 J4 C
all 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, # f# K1 d( `+ n, j0 h
in this case it doesnt really matter how much money is created, : w' [+ p" V4 e+ X" C4 i
it's the problem of the debt itself.7 w4 V# A0 Z/ o$ p3 |
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: D- L4 ]% \. ?0 k% ?0 y9 N
小弟一直都唔明...8 d- U0 M" O+ x  b% x

/ t+ d/ }. z7 x( ?2 `# v全世界都蝕錢，咁邊個賺緊錢呢?
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8 Q: b) A0 I. _" j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

; e4 [6 Q4 l% g那些根本係 紙上財富  
- U! t$ g. Y. v  R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 graphic5 V; `4 r* `" D5 t
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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
# b# S( F6 ?8 x  D" Z9 `6 D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: r6 W% W9 Y; i5 e8 W' d* X9 w' D6 u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
3 N6 e% H+ ?1 c+ @0 m個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 [. F3 f' Y8 k7 X  i3 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 H6 [, L1 R* l0 R3 }+ Z0 G% T& V
計番回報率就已經係50%,所以可以好好賺, \% l8 K4 H+ W+ A+ h! f  R  |
前提係銀行之間要互相信任先可以咁樣借法. t0 i) T; g' g8 f& A
同埋個市場既前境要係好先得$ [1 j" r: V( ]6 w. O( o4 ^
但當經濟一差,公司估值趺了,物價不升反趺& w* @5 F& {8 q
例如剛才說10蚊的, 趺到得番9蚊, 6 P/ e% n. N4 D, [, M1 y+ z$ o7 n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ d1 F9 b- Y5 x* @; h; n4 B
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, - b  `- I/ B7 x4 O
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,
+ a! A  D# L' j  ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 o4 h3 F& a2 Y7 [' i$ e
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. v$ ~# Q  M' p; S$ R# \; H
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$ a9 _, u. T: T, d: T+ E2 K: {
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # W3 x$ ?4 p  s
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , i- _/ C  \  x% e: r( K
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 Z: c" Q+ Z( a' D6 N
咁你話d錢蒸發左去邊? ...

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正係咁樣
% f+ v- X$ p1 u5 L& s) [& ]1 M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8 U6 m: b, O; s$ Q. A$ }
分分鐘佢地唔使還錢- i; h1 w2 }5 G) D- t/ m) q
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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,0 p3 t% L1 F6 e: J
連國家都係問人借, 不停發債券, 印鈔票( ~' Y' }+ ]! L/ q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  D6 }7 i& O( X+ ?8 T8 S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+ i1 e- e$ {$ B# B
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( Y0 V7 _4 _) B1 [8 F5 w+ Z0 J其實係.... g5 R) _) ^; l* O/ F
因為以前未生產, 先消費% F' s9 s1 r# E
而家就要多生產, 少消費