0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& N: O1 t0 F% Z) H( u  ?Why bank will sell 借據給第三者???# {" L. @" L7 F8 v) v
I was so confused.....

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講到尾都係賺錢. g5 L$ P  n- H' R/ w% ^
so銀行可以不斷放款+ ]5 |1 V) A/ c. t% f9 ^% ~
美國的房貸問題散佈到全世界
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! t/ k9 P5 u0 z- _& O/ Mmortgage loan + L" ~2 Q0 ]# q- z  r! M$ c
>conduit5 S6 t9 }+ `/ X+ z! Y' c
>RMBS(Residential Mortgage Backed Securities)
- W% r8 y$ C" R6 F- {. Z2 }! P& i. E>arranger) u/ e$ s+ o- }8 @
>CDO(Collateralized Debt Obligation)
0 G2 m5 C2 f6 R3 d  t最後去到投資者

Kev

i thought it is the reason of rate of return.
! @9 E2 {& m; q, s& pCDs could have different ratings, AAA -> F,3 e/ B) R: ?/ v* ~+ I2 ?* l
more risky ones would have higher premium (interest rate) as a compensation for an investment.! C& r& X. u9 \' P1 e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 T# S8 c! g6 j1 Din other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; T9 C4 n7 m1 }$ g: y) p8 @8 h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
  y/ f, p, F9 R0 [  G, _similar to bonds, CDs trading in the secondary market have different value at different times,# h% B' L5 N9 X0 N8 N! j3 X
normally the value is calculated by adding it's principle and interest. * `& q+ X2 w' {6 t6 W4 O7 P
eg. the value of the mortgage+the interests to be recieved in the future.
" L. E& w! W9 C7 J4 P$ d7 `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.' y. {! |7 S/ Y$ i' N0 t

& W+ i" ?) W. d, a9 kim not quite sure if the multiplier effect does really matter in this case.
. I, H- x' H6 k8 V2 X' v1 T% X0 @, r& }in stock market, it's the demand and supply pushing the price up/downwards.$ k4 G& i% C1 G/ j3 T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  m7 {' A4 m! G
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& ^" }6 L8 \- i
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. , z) q% v$ R2 w- I$ q/ W
but the value of their assets did really drop significantly.+ O8 o7 y2 p% e5 L! r2 ?* Y/ u

7 Q. G' L7 |0 {% p[ 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
- L  H# j. Z7 M9 t& b0 @Refer to last example,
+ C( {; l9 `% D9 I+ k& c! R* B$ Pthat means bank A have no money because we borrow 10 dollars from bank A
9 t# B  P* h# d2 `" W! j# v0 ?Because bank A doesnt have enough cash on hand
) w% p' v9 p( c* W( b( M+ ^therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 c7 o2 }0 x. g& O# {, b7 ~3 uA->B->C->D->E1 o, R; k$ {; o9 t, A
so does it mean if E failed to pay D, / i6 F5 a# p0 ]8 c" J3 V
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, & V, e3 y9 ~. Y* p, N& B. ?
in this case it doesnt really matter how much money is created,
) T) `( m9 i% }4 `5 I% @it's the problem of the debt itself.
% L. n  D: V% Qthe 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
* `& z1 F0 k0 F3 z小弟一直都唔明...2 Z; P. `. F4 Y5 y& g

. J( e4 I1 R& u; G( P0 l全世界都蝕錢，咁邊個賺緊錢呢?* g8 Z% c3 E) `2 D" f1 W. G6 j
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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  a& B! C7 k" k9 L/ H, D

9 ~2 w$ N! E' o# @5 z# GThanks

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那些根本係 紙上財富  9 _: z8 V8 l5 i0 }* a# v
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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* [; t/ i) O0 l) p( @$ F1 Yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產3 z# q, Y, ^/ b
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( \' w- Y2 B5 ?# \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 N2 d4 L+ |. B. t" S% J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) F( C1 U; Y4 ^4 s- w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 g8 s( [) J# b3 P0 B$ q5 m: ]
計番回報率就已經係50%,所以可以好好賺: D* M4 `) F. O8 Q
前提係銀行之間要互相信任先可以咁樣借法
" t3 G# ?3 v0 o9 y) A同埋個市場既前境要係好先得: i' r1 }; W* l* J4 [
但當經濟一差,公司估值趺了,物價不升反趺4 t. t/ W+ [  v
例如剛才說10蚊的, 趺到得番9蚊, & A! b/ V- y6 K3 i& e' S; A! L/ w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! y- U* x4 a8 q2 j  s: B所以你就會覺得D錢好似蒸發哂咁. P5 E3 D/ U9 _8 u- j; O: ^; D

: Q; O* I/ S' I: ~5 S" N; Y5 X你都可以當標野咁諗, 個樣野多人可以狂升值,
: q/ T1 Y" [( w+ I, H% P3 j& f) B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, 0 o( C6 _1 _8 I$ ^" h! ^, T- @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  |6 o2 U6 I' G" P+ E- F: w, o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
# x; m# R( G$ k# j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.gif5 u. ?0 e7 ~- Z3 Q0 E( h
唔係d錢蒸發, 而係比美國佬洗晒未來錢, # Q1 F$ l$ t, A8 E/ U4 N
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' P. C: s* h3 c$ Z- W9 V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& \! E. m6 Y+ R; X% ]
咁你話d錢蒸發左去邊? ...

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1 g5 G9 n. }1 A3 Z0 i6 |1 e正係咁樣1 M# f9 @( U% x, J0 i4 [7 t3 z8 S
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
& s5 [. j: F* A) }6 ^分分鐘佢地唔使還錢
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/ C- v+ j8 h! C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,' g6 k% P1 Q4 W; U. b
連國家都係問人借, 不停發債券, 印鈔票% D, y: u* \* T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 S& b; g6 }( {3 n
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. \) t* Y2 V, r! ^- z$ l
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% S& J) b' {# X1 r% V' M: H
因為以前未生產, 先消費: u  z6 F5 ~+ o# w
而家就要多生產, 少消費