0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, R& g1 y' h7 }4 d9 M/ f# yWhy bank will sell 借據給第三者???
4 o' m7 l" }7 }" F  W; eI was so confused.....

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講到尾都係賺錢
' b/ F. q6 M2 [7 B% J; j) Z1 Gso銀行可以不斷放款0 T" v) K7 E/ {$ m0 G- F5 s
美國的房貸問題散佈到全世界
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mortgage loan
7 k2 _& ^, q7 U3 K7 d+ k>conduit& m7 R, M; B( B# v: X: H
>RMBS(Residential Mortgage Backed Securities)) l  n4 A& D0 d0 u
>arranger& r5 e4 b& E. b5 f, D% g  x: r2 I
>CDO(Collateralized Debt Obligation)7 X! V5 m0 X, y" a" z, q
最後去到投資者

Kev

i thought it is the reason of rate of return./ v3 o! e! l# f3 e) t3 p2 y9 a) B
CDs could have different ratings, AAA -> F,- Q- u2 ~3 t* M* E9 K* i
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* R8 @/ }6 b9 U3 @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ B% ?; x, _  Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, x( W- A3 G) U; X7 x7 L- SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 N6 e. U& p6 O
similar to bonds, CDs trading in the secondary market have different value at different times,/ |; o; ~) f/ `: l0 X  X, v
normally the value is calculated by adding it's principle and interest.   i3 o' y4 h/ q8 h% V: u
eg. the value of the mortgage+the interests to be recieved in the future. ' F! J# U3 b2 t( D6 a$ N5 D( J1 n! i
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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" i# j7 a9 ?' @- X4 eim not quite sure if the multiplier effect does really matter in this case.; x: b& ]& ?$ a* j& L' @
in stock market, it's the demand and supply pushing the price up/downwards.
/ u+ r) @3 R3 rFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  Q, c% `, @/ v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 J* O9 Z, q7 m, e, i8 {3 BThe 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.
* @2 ~, j' u# P2 P# ybut the value of their assets did really drop significantly.2 R1 A0 G' l7 C! D# j% w
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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.gif0 W* n- J- b7 y, Q. j# t* k
Refer to last example,
$ g2 m5 p' J6 Z* rthat means bank A have no money because we borrow 10 dollars from bank A / n9 Z3 u, X& c' k! o7 J% K. E
Because bank A doesnt have enough cash on hand # A3 l% V" B; q2 {) F# q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 p: S$ |5 Y% g) `  L1 K* ^0 L* yA->B->C->D->E
5 ~  t$ }. m2 S) K. g1 K/ K" v$ Aso does it mean if E failed to pay D,
0 ]2 V: ?$ {; I# r$ x" h$ G$ j+ Vall the B,C,D,E have to go bankrupt?
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2 O- v  e3 a8 U/ M0 Jthe multiplier just tell how much money created in a whole economy, . \( {: \1 H) Z  Z* F! E
in this case it doesnt really matter how much money is created,
6 n: p* U7 p* Oit's the problem of the debt itself.
* W- D/ V# _/ P4 Fthe 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
6 _/ @! @) U! r) e2 c2 {8 s小弟一直都唔明.... }  ]4 N6 x8 \" A
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全世界都蝕錢，咁邊個賺緊錢呢?9 u0 M+ n1 E9 D0 B* \

$ }) w! \7 j2 }. E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) d8 Y' M7 B( k' G' T
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Thanks

4 K$ w5 L! P8 P2 \" x那些根本係 紙上財富  
9 s6 g& M* f% b9 c0 j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 graphic6 C  W1 `' W/ S& h" N+ w1 @

: ]4 r! V" |8 _' f  e# Q4 F: ~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
& Q# q5 Y+ e5 t: Y6 p當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# K( r9 A& |8 q1 G# J1 d0 v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
% s" K8 m; F( _6 c9 @個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 }# k& Q9 L6 _7 X; u
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. \& P  z; h+ E  o* U1 X; n- R
計番回報率就已經係50%,所以可以好好賺
; i2 G! |1 j( D2 f前提係銀行之間要互相信任先可以咁樣借法
) S& A# ]. k( a  ^* b同埋個市場既前境要係好先得
. _# w) B! O9 {" A# E' q0 I但當經濟一差,公司估值趺了,物價不升反趺1 P) P/ ~6 h  W" @8 B' R4 E; A
例如剛才說10蚊的, 趺到得番9蚊, $ Z/ G1 d* U4 o0 n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%: H1 d% }# G" d4 ?
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,
1 s$ X& r7 P; P! g8 ?# {% W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, , c8 x- c; U8 ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) x( j/ y( ]: W6 ^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 P, c# \3 ^1 ^8 [
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. C# Z% F+ `* [4 @+ X" S( {# }
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . A: t& y" U# t6 z1 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / l# {- ^6 X) F, {' H' y9 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
/ f$ z* G1 Q+ y+ s; w. q咁你話d錢蒸發左去邊? ...

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1 T* U  E5 v! x# ]8 Q" g1 o# r正係咁樣: E+ w& B4 i7 O- ~( x  |
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: H0 K" R7 ^9 a5 G! A& a
分分鐘佢地唔使還錢0 @" H% J. W+ T  F: M; j0 x2 y

# A8 R4 O/ x1 d* P& ^8 L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 j  o9 \7 n. I0 R8 D連國家都係問人借, 不停發債券, 印鈔票; }" F6 M  r. p! f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
0 B. Z! l; \0 m3 h! }' P+ 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.gif8 o8 \* K+ X( q) e" f
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...# E6 S/ U* O- [0 k! M) M9 k
因為以前未生產, 先消費
5 N5 @# f4 u! r6 v  ]0 v' C3 Y- H而家就要多生產, 少消費