0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 }8 K. b4 N4 S! T, F$ |" `Why bank will sell 借據給第三者???, X4 |! j. g% N# _2 v( T7 C
I was so confused.....

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講到尾都係賺錢
' ]9 |8 {7 L, I3 s. Lso銀行可以不斷放款1 ~6 e4 x0 |/ k. y" U1 _
美國的房貸問題散佈到全世界1 n$ F/ I8 L$ ]+ [
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)7 T) D* b9 t# m2 w" f4 w
>arranger0 w! k# v7 w, P4 j( Y
>CDO(Collateralized Debt Obligation)
& D) F* }( B, ?7 G最後去到投資者

Kev

i thought it is the reason of rate of return.
  Z* W4 A: B% ^. W# jCDs could have different ratings, AAA -> F,
6 _. t" r: `' T% ]( \more risky ones would have higher premium (interest rate) as a compensation for an investment.
4 K! l' p' \( ]2 \. R3 U. ~) s' Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ v4 }+ T2 Q1 e  a8 h0 l/ Uin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 g% c2 l: f" U6 x" g' a5 ~! U
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ O! E) g# H# _6 D% \% p+ R, hsimilar to bonds, CDs trading in the secondary market have different value at different times,8 m$ w$ N! ?$ u" A1 ^: {# E
normally the value is calculated by adding it's principle and interest. 8 U9 ]4 {8 p7 x
eg. the value of the mortgage+the interests to be recieved in the future.
3 S, @8 A) T2 P6 w" u4 F* m* zbanks 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.2 _' _& o) _- g, J
in stock market, it's the demand and supply pushing the price up/downwards.
- R' {% a+ p1 B4 }, A9 VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 \. ^+ |1 d" J3 ~1 \/ j: @& A6 s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" f& c2 X2 d, b  ?$ }; p/ kThe 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.
7 A3 V$ s1 ^! x  f) Wbut 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
- a) n9 R% y$ LRefer to last example,( g- \( y8 D- U6 E! k
that means bank A have no money because we borrow 10 dollars from bank A
0 p# D: i1 x/ W& u& w. wBecause bank A doesnt have enough cash on hand
; y' k- p, h7 ~- Y  Ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ ]. `/ J, f* x% ^; R9 YA->B->C->D->E& `/ }' k% A- H2 J/ ^
so does it mean if E failed to pay D,
- V! t+ b7 T4 _: {4 x( xall 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, ) _- v& \5 ^$ M- d
in this case it doesnt really matter how much money is created,
' v- ], A7 A- J: V' O$ Uit's the problem of the debt itself.
5 G4 h3 I. `& q( T6 n3 othe 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
, O' g/ {# B. C2 l小弟一直都唔明...
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9 O; ^+ X9 q" Z" G; B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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  T0 ^) J% p$ z+ @0 l敬請各師兄解答( o0 R% M; \/ [! r% Y, i
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Thanks

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那些根本係 紙上財富  # E( A: C' i5 C  e# {( L" a- 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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& X" S- e( k% rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
, a9 w, s* G, `7 o/ L/ [0 }當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% a* Q1 G$ `5 S0 T) @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
$ _. m+ k$ M6 U& ~個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, a% Q0 U/ I, r2 f$ r扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
! b( |& R- ]" y3 a: d# `# J' k8 I. ~計番回報率就已經係50%,所以可以好好賺! k) E9 J" x6 F
前提係銀行之間要互相信任先可以咁樣借法
9 K% S& l' P, }% ^同埋個市場既前境要係好先得$ d2 Z! @' P* r' p; P+ N" C2 r' c
但當經濟一差,公司估值趺了,物價不升反趺8 m% t* A; r9 W/ _/ R
例如剛才說10蚊的, 趺到得番9蚊,
0 Q9 {* b  J/ u咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; F$ P/ ?+ K, ^5 e# z3 l所以你就會覺得D錢好似蒸發哂咁
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$ [7 K4 D6 i' r1 Z( o你都可以當標野咁諗, 個樣野多人可以狂升值, 0 s; a( V# s3 A6 R  r) a% D
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, ) D# l3 m' ~% X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ ~9 ?9 c1 O: R% b9 f1 O( l; c
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
  j: \/ J& s+ M+ ]' K: Y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; j- i& u/ W  j' d+ F9 U1 @9 p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 7 T, ?- v+ V2 F, U/ F! q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 l1 q' `6 c9 X2 w- q
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
4 W% L9 `7 l( a; ?0 G" w咁你話d錢蒸發左去邊? ...

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7 i8 u) g# l" _* b正係咁樣
, I; \3 r) ?: Q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9 I  r# o0 ?, c
分分鐘佢地唔使還錢
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. i, V0 F% M# u9 u& W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,8 E" Y; C0 N+ G5 b
連國家都係問人借, 不停發債券, 印鈔票) t/ K+ [" ^! C; y0 b8 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 ], r  p) _7 B3 I4 m8 A; v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" z0 l1 F1 Q9 x
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...' \+ x1 V: T- C; Y
因為以前未生產, 先消費
# N, k6 M, ~$ T0 }4 |- L) s而家就要多生產, 少消費