0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- G, G* M+ ~- }. ]3 b! v' K8 A- `1 {Why bank will sell 借據給第三者???8 ?5 f: o  ]% k7 j
I was so confused.....

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講到尾都係賺錢* o7 ^3 H% ]* J4 D$ O  p
so銀行可以不斷放款
- x3 g  s8 ?9 f* _, Y1 h" j" b" m美國的房貸問題散佈到全世界
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mortgage loan . b% [1 u/ ]  x& e: K9 g: k" g
>conduit/ m4 a! L! f) [" |7 i0 X. U
>RMBS(Residential Mortgage Backed Securities)
$ `$ ]9 y4 Z  T, D  F8 u>arranger
# Z8 a' s$ r- s) V+ ~& Q>CDO(Collateralized Debt Obligation)3 k, ?2 n% }4 S: A
最後去到投資者

Kev

i thought it is the reason of rate of return.
/ T& T8 b& }$ P% a8 O# K. N; [CDs could have different ratings, AAA -> F,2 e8 l6 \/ O; z/ ]0 K
more risky ones would have higher premium (interest rate) as a compensation for an investment.
' O) f) ~% g) Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 y7 ~$ K4 J2 ^! r9 x
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 T; v$ K/ p" m+ Q0 Y; @1 Z' \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" E/ R; w5 C) O& c2 ssimilar to bonds, CDs trading in the secondary market have different value at different times,1 O. f4 P' ]( E+ S; B1 ^
normally the value is calculated by adding it's principle and interest. ' U( O% |/ T. D8 |
eg. the value of the mortgage+the interests to be recieved in the future.
! J; X) h+ ^2 x: B# q' B; ybanks 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.; I; o, m" U9 x- J4 G8 z- u: r* |2 u5 j
in stock market, it's the demand and supply pushing the price up/downwards.2 o/ l& M/ c/ @" ~' S3 w# H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# l$ u5 E7 h  H/ E$ tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 a$ \9 }$ _  h0 h+ y2 Y# H
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. $ c9 b9 B7 f; H4 z
but the value of their assets did really drop significantly.7 f3 @) v9 X& L0 s8 j

. N7 j( @5 {/ D' I7 T2 H* C: h6 @[ 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
% @( V" w4 d7 i# o' x6 L! bRefer to last example,& s( W3 }( V  ?) n: w+ u$ x! R
that means bank A have no money because we borrow 10 dollars from bank A
. u) @5 X3 R1 jBecause bank A doesnt have enough cash on hand ! H' h7 j4 w1 P! Q6 S# k
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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* F% E5 w5 i; a# z" g  sA->B->C->D->E
3 S/ w* r8 @, ~so does it mean if E failed to pay D, # b7 N" i$ m6 O. T& Q( \; R  {
all the B,C,D,E have to go bankrupt?
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9 f* N4 O# O9 S
the multiplier just tell how much money created in a whole economy, 6 S6 m- C: ]% V
in this case it doesnt really matter how much money is created, + d& }: e2 D/ A( y
it's the problem of the debt itself.# g9 Q- q& h( Y$ y4 B. [' q) h
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+ e9 i! }* j' O
小弟一直都唔明...6 [. p3 B5 J$ t) d  A3 ]' Q

2 o  |8 |8 w( K' v& \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* m7 ^) S  M. \/ i7 e
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Thanks

6 b1 m1 x$ k; l% F那些根本係 紙上財富  
# ^4 W0 e: x) K' h/ z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
* Z, j2 \1 D- y7 e2 L  Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, E* g+ O3 u  ^% x5 Y2 J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0 ^  o, T/ y0 e/ }
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦% p$ U2 T" Z" L  n
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 m. Y: K& R1 ~8 O' C計番回報率就已經係50%,所以可以好好賺8 i$ I4 `8 n; a' p$ j/ N* s7 }
前提係銀行之間要互相信任先可以咁樣借法6 ]  a0 h9 z; y7 m! k
同埋個市場既前境要係好先得6 N+ ]$ T& G7 i
但當經濟一差,公司估值趺了,物價不升反趺
- d) c0 M/ p: F: x7 D" j例如剛才說10蚊的, 趺到得番9蚊, 2 N6 T* A7 h/ f3 U1 t
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. m6 g( ]7 ~+ P5 J7 h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,
: L+ F" g# T# _; m+ @+ n2 t1 T( q8 p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, 8 l$ E2 Q& v! u8 F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: m) h* z6 e! H" 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
& T% i5 K; {: ?  t. R* q1 k! p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
6 ?9 B: |/ X6 {8 a* K$ x0 _唔係d錢蒸發, 而係比美國佬洗晒未來錢,
$ f4 X. E% L) S% e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 g5 H( h% }6 U1 L/ J4 X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 k( ]) Q- E' E0 a" Z! N咁你話d錢蒸發左去邊? ...

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" \7 i% q2 d5 ^正係咁樣
5 T" h7 d+ F: X* u$ ?  n4 W9 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
3 I0 m  O8 d; L, i$ F分分鐘佢地唔使還錢# {; c8 r  j& R4 D$ G
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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,9 t& o$ ^; i" P
連國家都係問人借, 不停發債券, 印鈔票6 y% a: g7 r' C. J( s6 `2 |" H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' K( j, g. @" a. D, d, h' Z3 a
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( _& ?) X  m0 a+ k1 g" H
咁而家"爆哂煲"算唔算先至係變番"正常"???

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, ]$ P* l! c! S+ `其實係...0 f9 R; G+ O# h  S/ T
因為以前未生產, 先消費0 ]) G6 I7 |+ z
而家就要多生產, 少消費