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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif# S  B: u4 }/ o8 y2 I
Why bank will sell 借據給第三者???( |5 Z7 g( J1 r" H
I was so confused.....
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; ^0 M# N3 y6 W8 W5 K1 k  s講到尾都係賺錢
4 d7 U. u/ `( U  a) lso銀行可以不斷放款
6 R8 ?2 v4 g; K美國的房貸問題散佈到全世界  x. M! w% R: Q6 q1 m# _

$ k0 E# h" y9 ]3 e+ B$ Qmortgage loan " V9 v& n$ H( W6 H  z
>conduit/ b. O! {" c+ x2 h; w
>RMBS(Residential Mortgage Backed Securities). }- }) q/ Q% k1 i$ \
>arranger% A: H2 r! Z4 ~  x
>CDO(Collateralized Debt Obligation)5 c% L  G- y/ M' h4 r
最後去到投資者
i thought it is the reason of rate of return.
" I: ?& z' a" a/ m0 z; e4 T: R( ~CDs could have different ratings, AAA -> F,
; B# a5 q/ Q$ n. \: o) v$ e: j/ _. ^more risky ones would have higher premium (interest rate) as a compensation for an investment.
) |' p' b2 f  Z- |main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* \9 D4 E* u, {  p+ s1 Y/ r" ~" C% g
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ W7 o5 N1 z+ aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 U, n9 R( T! jsimilar to bonds, CDs trading in the secondary market have different value at different times,5 C; {9 s( \3 ?4 r' J" S
normally the value is calculated by adding it's principle and interest. - ], s  }8 V) \3 y+ r5 s
eg. the value of the mortgage+the interests to be recieved in the future. 7 Q4 q4 O6 N. L: c% A
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.! A( g# @; W7 J$ }: [5 j# J! r

4 @: e3 p# O+ P- e; ?im not quite sure if the multiplier effect does really matter in this case.
0 R1 J0 m1 c/ [7 x! `; _in stock market, it's the demand and supply pushing the price up/downwards.5 ^, }- T! j' K1 |, t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 S$ }. ^" m% Y, L+ q% e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& o* W0 S& F, O. s2 X
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.
, d/ a5 P; s( H) q" Zbut the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, S+ n6 G: z$ I5 [8 kRefer to last example,. @8 m" b6 k) ~. G& W1 W
that means bank A have no money because we borrow 10 dollars from bank A
) ]8 G1 }4 t& x1 l1 X# xBecause bank A doesnt have enough cash on hand
5 T8 k1 B7 R; Z! J% i6 o# F8 Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E
3 E  h/ a. r( [+ ^: vso does it mean if E failed to pay D, " [2 N  j, }! Y3 \; Y
all the B,C,D,E have to go bankrupt?$ T9 \9 H1 I/ N5 A3 Z. W& q# m5 z" c: x
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the multiplier just tell how much money created in a whole economy,
& z/ E; f. g$ X2 ]+ N7 b7 s" nin this case it doesnt really matter how much money is created,
1 o- B! i. d1 o% {it's the problem of the debt itself.7 }# ~0 F- W' Q1 ?0 ~
the debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 H8 V" s5 o' f% r3 T5 u/ E0 Q
小弟一直都唔明...
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; A% Q- |' q. X' J$ o9 K全世界都蝕錢,咁邊個賺緊錢呢?# L# R: M$ ?: k0 _  g

7 |) W5 E9 ]5 l# D" [無可能淨係有人蝕錢無人賺架嘛...  N7 Z; H% Q7 W  ?8 Y# _
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敬請各師兄解答
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Thanks
6 Q7 W  E6 V. n那些根本係 紙上財富  . l, g0 U# W/ L5 T7 B+ I
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
with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic" H, j; }" p% ~

1 u* {$ q$ f5 J' d$ T. V$ Ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產4 H$ J( C" B, A5 d- @& p4 W- x
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 h1 s" B; K" l& ~0 @! H; 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! i3 Y) a) e& Y1 N. y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦; R  }# {& \! n0 J5 v
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' I, f* w( E9 A4 c% x
計番回報率就已經係50%,所以可以好好賺
* J5 |+ ?" R+ ~, \1 I( {前提係銀行之間要互相信任先可以咁樣借法
: V) R" n( r: i. J" [, O同埋個市場既前境要係好先得
  L- ~3 @6 N  j1 {$ a" I但當經濟一差,公司估值趺了,物價不升反趺8 u( ~$ R3 x9 a3 {' \9 [
例如剛才說10蚊的, 趺到得番9蚊,
: N) l  Q4 K% t1 F3 @咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 v; l* u' N- m2 `" f- }! P
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, 5 }7 ]0 Z& F, H/ I3 t
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ I$ b6 ~* [/ P4 Q1 S" _$ d, L, {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; _2 u, B) v4 ~5 H( y/ S! F, X- 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2 j/ G" e. N( P
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 b0 H) l. F6 x0 D7 D唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! {1 _' k& G7 q8 {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 V" e1 E& u/ n; q% R% 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
% T  q  I6 Q4 m" A1 Y, ^咁你話d錢蒸發左去邊? ...
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正係咁樣
6 h$ y- q9 j1 J" t/ o/ Y7 ]+ L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 \7 ]" o. ~- K- p
分分鐘佢地唔使還錢( j$ \4 M+ f9 _3 e( O8 x( z

' ?) t2 k9 |6 i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,0 {: h& c  i( X4 Z- |
連國家都係問人借, 不停發債券, 印鈔票& P& [( G- C3 z) s9 L* w1 p+ `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ B/ ~! x0 r7 T0 I# v編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
( i. C3 n& d- L4 e$ ]5 V咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
3 v. R! C( Y5 c" \8 c1 W4 L& y: d因為以前未生產, 先消費
! Y9 l5 d$ N  u/ `; m+ Y- o" g而家就要多生產, 少消費
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