0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif. K" }6 F8 }; I6 T: l  ^
Why bank will sell 借據給第三者???* K1 \! t( e" Z  U" |
I was so confused.....

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1 b* K' \9 a# K* `講到尾都係賺錢* L- p. ?  V* V. `
so銀行可以不斷放款8 ]+ q. h/ O% S6 _
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)( C' K- \) H3 @! }
>arranger
, r0 ?7 c8 i( ]0 {5 y$ ~9 ~>CDO(Collateralized Debt Obligation)' s% L' @! {, l( d0 ?& m* d
最後去到投資者

Kev

i thought it is the reason of rate of return.! q2 g0 F1 r5 f8 e' m( \) n; h
CDs could have different ratings, AAA -> F,
2 V0 U* Z3 v7 U0 w4 [more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 \8 f; g$ y1 N! q: T% [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% d! X2 y' o7 Y+ g7 cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 z. D; t' ~" x' J& a6 ~. a+ v3 BAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 N) g7 g& `/ \" e+ j
similar to bonds, CDs trading in the secondary market have different value at different times,9 g! K4 Y' o6 u9 }
normally the value is calculated by adding it's principle and interest.
# ?$ Y: ~0 l; E2 r' eeg. the value of the mortgage+the interests to be recieved in the future. $ J, n7 L- x* l0 |- p1 \7 y
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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1 C# G* C- g! }: O7 Y0 t: Pim not quite sure if the multiplier effect does really matter in this case.
: u! U( U- _/ ?$ Y9 X4 {2 j( Cin stock market, it's the demand and supply pushing the price up/downwards.  M- `6 R0 n* g. E1 _
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 }" Y8 V; e% w4 K  A- I+ X" q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
$ m3 H3 J8 v2 H( B+ |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. $ t* T' Z7 f( c
but the value of their assets did really drop significantly.% G  ^4 V# O7 N* q  U5 W6 H
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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
) x, j" U9 a- r2 ^8 bRefer to last example,. ~2 C  y- p, S" X# w& K0 q
that means bank A have no money because we borrow 10 dollars from bank A & d# \" h. ^0 F
Because bank A doesnt have enough cash on hand 4 w! q7 d1 Z* s& J+ Y, D
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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! O! S1 q" ]0 ]/ x' GA->B->C->D->E
% K5 P# W4 K; J8 v" ^so does it mean if E failed to pay D,
8 j/ O5 Z5 B  @% w3 Pall 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, ! y$ P5 {8 Y; G, \( J9 d1 v! M4 K4 g
in this case it doesnt really matter how much money is created,
4 [) f: z+ _6 i3 {2 w4 Y( Wit's the problem of the debt itself.- |& C1 R2 y8 Q$ F: T
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& Z  t, q0 ^6 i# ?+ T
小弟一直都唔明...$ ^5 B" G3 u' T* X6 {

3 z  k5 N" P( Z0 t1 M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...! `5 J: o* e  {& ]4 P2 G- q

7 e; d, Q& C$ Q* d  C  F敬請各師兄解答$ M+ P' A! O! A/ c4 K
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Thanks

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那些根本係 紙上財富  
# Y& ]( P5 N6 P$ W  {- c% z+ _$ D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
0 [) ^# J" x, t當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. t2 r" i  q! }" b4 I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
+ T. V5 n, B9 k6 i* W8 t: e9 V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( l7 V6 q  \) o5 o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% h/ C! M) C% J! y$ @2 x/ `( U
計番回報率就已經係50%,所以可以好好賺6 I8 d% e+ P* D7 ?& W4 V; _
前提係銀行之間要互相信任先可以咁樣借法; C( Q, p; J0 L8 C" E: k
同埋個市場既前境要係好先得
+ \( o$ G! @/ i8 f- Z  B5 N& A但當經濟一差,公司估值趺了,物價不升反趺
5 j' w" H% W5 J) \例如剛才說10蚊的, 趺到得番9蚊, 1 w/ E: o9 Y6 f" r3 B' w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ }) N: w9 F# O5 C7 O% B. k
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,
4 r, F& _9 C" c) R- G8 f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,
4 Z0 X2 u' w2 C/ ?9 ]6 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # `6 o/ y* e9 U
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: Z2 S9 Q9 ^9 U
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
8 r: a; V4 W3 U0 G( d. [3 {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  D& J+ E+ o/ x* \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 `( {5 F+ M0 [4 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* [) l2 Y' T! Q3 Z" }
咁你話d錢蒸發左去邊? ...

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3 c* {  ^' `# Q9 L' T正係咁樣
: Z+ V/ o, ^% }, B/ b  R9 [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
1 m1 J7 q* N; U% [% w0 f( j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,+ n: T+ v) Y* F
連國家都係問人借, 不停發債券, 印鈔票
$ [! ~( f: n8 s一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ S5 U' }# @- a6 \, q& k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
4 @0 t& m1 h5 K- ?; ~- I" I; s咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係.... r) ^6 a) L, M# K
因為以前未生產, 先消費
+ A. u. E+ j- ^, `# p而家就要多生產, 少消費