0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ r+ v+ G9 R8 |+ L  T: `( PWhy bank will sell 借據給第三者???& W$ U- l7 r9 u5 `. C$ A
I was so confused.....

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講到尾都係賺錢9 g4 k7 s1 Q" I+ q4 ^5 q
so銀行可以不斷放款% k. E9 h* {# T7 x& M$ v
美國的房貸問題散佈到全世界
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mortgage loan
7 a( m& T) N+ ?# t/ V>conduit6 a- \3 o8 i) x2 I
>RMBS(Residential Mortgage Backed Securities)
6 `! w. j+ X5 M: V4 n8 K" p>arranger  H( S3 `3 M% |* s
>CDO(Collateralized Debt Obligation)5 y$ ^) c* I7 D! K
最後去到投資者

Kev

i thought it is the reason of rate of return.0 L; w! K5 V: U  f2 G
CDs could have different ratings, AAA -> F,
; r! q) C' X# H, r; Pmore risky ones would have higher premium (interest rate) as a compensation for an investment.; w- v) x3 h2 s! d- G% B
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 z0 o4 ~' e% cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 q; q  [0 Q  o( @) m' \# A% Y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., R' e/ V: d6 Q1 V* U; B
similar to bonds, CDs trading in the secondary market have different value at different times,
4 F/ ?+ ?' m. V7 A+ s8 Bnormally the value is calculated by adding it's principle and interest.   O* B" `) u! T
eg. the value of the mortgage+the interests to be recieved in the future.
& l- F7 l% A8 V9 a3 ebanks 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./ s" l+ g  s; r  r& y0 \+ V
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im not quite sure if the multiplier effect does really matter in this case., z  Y7 ], A2 ~; h
in stock market, it's the demand and supply pushing the price up/downwards.6 K0 G4 r( ~9 d( X1 t# u% A6 `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 C. z# p* C/ \; F& j$ s2 R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 c! y+ c9 o5 d& [+ u% 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. 4 q: }0 z" l9 B1 g- W" i/ R  w7 a
but the value of their assets did really drop significantly.$ W$ J( \# y9 ^9 F0 F# z8 N& ]
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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  c6 O( Z* m: s. p' }
Refer to last example,: w  s: m; q- P  Q4 n4 @8 o
that means bank A have no money because we borrow 10 dollars from bank A 1 E% B1 p! {, R) S
Because bank A doesnt have enough cash on hand
; I! B# [: w# A" m* P% ]) H. }therefore bank A need to be bankrrupt ??? Am I right ?? ...

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% O! O% V% F) MA->B->C->D->E
- w" v5 {  Y5 P# R& g: e# Rso does it mean if E failed to pay D,
4 W% b: d8 D+ F  i. w* X7 hall 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,
5 p& |0 ^0 ]& ]# [) u8 Qin this case it doesnt really matter how much money is created, $ B$ O: t" E* ?
it's the problem of the debt itself.; D2 X& @) n7 q( I4 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$ A4 S1 v/ Z3 L* [
小弟一直都唔明...' \' @0 O3 B& e

! Z4 l* v: R7 Q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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敬請各師兄解答7 }6 a0 l- ~# @" `, b1 ?: U) f

# E: J- z* _3 h' q" R6 sThanks

3 j8 |# w5 L% b那些根本係 紙上財富  
% Z5 ]# r  c1 j: x2 U* `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 ], R1 ]7 B  y, B
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. _1 w1 l) M/ {+ E) W, C6 y
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, f2 b6 i1 b# @& M/ V2 @6 m  i
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦, O+ E* i& x7 a. Z6 t% Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 s3 b; A) C: i6 i/ w計番回報率就已經係50%,所以可以好好賺
: f8 N7 Q# T5 \, S前提係銀行之間要互相信任先可以咁樣借法! D( z- f9 t- g  m) ?+ m
同埋個市場既前境要係好先得
0 v. |* E% u) h但當經濟一差,公司估值趺了,物價不升反趺9 j: q3 x1 Q/ E0 {- R+ Y7 R
例如剛才說10蚊的, 趺到得番9蚊, 0 K  L/ s8 N  u$ K+ s2 k- h# f
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 c" z; s' z- m3 D! p9 [. i所以你就會覺得D錢好似蒸發哂咁
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# T! w8 I+ `6 A, n你都可以當標野咁諗, 個樣野多人可以狂升值, $ Q! ~$ i1 r+ G. 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, 2 e# ]' R, ?3 U$ {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # D5 i3 o! j, D( z" `
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' d' O/ T* j3 _) G
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
$ Y. Q/ h+ ^( h4 C7 W唔係d錢蒸發, 而係比美國佬洗晒未來錢, & {$ X$ I, Y* `: ?* k+ _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' `- c9 r, [  J) _+ p0 J3 s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
' e0 B3 b2 [6 k! q4 O咁你話d錢蒸發左去邊? ...

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正係咁樣* A; T+ p+ i5 ^# A: j' [% ^
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
& n8 ~$ z! u; ]0 L$ x4 ^6 s# y分分鐘佢地唔使還錢. O4 Y& w" }4 P7 n8 U" U
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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,$ F9 [8 h  ?) ^0 Q
連國家都係問人借, 不停發債券, 印鈔票/ g- w- v3 e9 Q: t( s3 D, `0 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 D8 a- S5 L. k2 R; p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
, g' \- _, j9 @. V* P$ t# j" W咁而家"爆哂煲"算唔算先至係變番"正常"???

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# Y- Y: h) T4 ]  n% [- Y其實係...
! l# |5 `0 m, D6 I# x因為以前未生產, 先消費
0 j. H* M% j" w9 K, _% G. F; w. u4 q而家就要多生產, 少消費