0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
! W) h9 Z9 G& D' U' M! zWhy bank will sell 借據給第三者???
4 \3 @* P. I1 T' m" K, |) tI was so confused.....

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2 i# v3 s+ B3 @/ x3 L2 J講到尾都係賺錢
: G  L) M7 w- r2 c6 H! D  ]& Jso銀行可以不斷放款
1 n! q& i$ _6 b1 L  `. t# X美國的房貸問題散佈到全世界
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mortgage loan
9 x' M. N0 c+ w$ h8 e+ C0 g. X>conduit- u, w4 f( Q  O" B( N3 P- D
>RMBS(Residential Mortgage Backed Securities)0 g4 k+ U' ?4 X
>arranger: w6 s7 U0 ^) `
>CDO(Collateralized Debt Obligation)
% ]3 g/ X) u& I最後去到投資者

Kev

i thought it is the reason of rate of return.) d! W' G8 E, S
CDs could have different ratings, AAA -> F,
4 b1 |1 s2 H2 e$ y7 R; smore risky ones would have higher premium (interest rate) as a compensation for an investment.
: V8 ?$ ]" ?1 xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," J) E6 o4 I( {5 u
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( Q4 i. m7 Q( o/ kAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 x+ ~, u2 o" g$ H& p; M4 U' _. msimilar to bonds, CDs trading in the secondary market have different value at different times," x8 m' f3 A' b- O# ?
normally the value is calculated by adding it's principle and interest. + a, X6 c' m. f3 ]
eg. the value of the mortgage+the interests to be recieved in the future. + i4 i* u5 ], l- {! R/ s6 T. A& q
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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8 B; r6 T& ]3 wim not quite sure if the multiplier effect does really matter in this case.% v- y9 s- z' h. g6 w
in stock market, it's the demand and supply pushing the price up/downwards.- v$ B% i  C5 j% F+ J4 I6 Z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: n% E' n# ^4 P) O3 c, C6 y6 G6 L" W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: O: E1 |! I8 l
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. / C! b5 C5 A: r' @( c7 G
but 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 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% F  K0 X4 E5 H! T. VRefer to last example,
7 g% T* n6 [3 F; n/ o: xthat means bank A have no money because we borrow 10 dollars from bank A
- Q% b( w9 V) R; h! {Because bank A doesnt have enough cash on hand : T( E" m! M& g: s- z1 t. ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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( N) i5 S! ~4 nA->B->C->D->E
$ i" k5 e2 l& j; b# S" Uso does it mean if E failed to pay D, : W5 d- k# b% }% o: N
all the B,C,D,E have to go bankrupt?) q; W( f" x/ T+ f/ W4 _. |  S6 v

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the multiplier just tell how much money created in a whole economy,
. C$ X9 e! x0 d3 ]% ^) g, D: yin this case it doesnt really matter how much money is created, 5 U: W+ X  `% a. p  [5 x2 n( k& C
it's the problem of the debt itself.% E- ]& H, I* p" i9 W" f* q
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
) }& G6 S0 _9 ~0 [4 e( K- c7 M小弟一直都唔明...
5 o0 }' i; E: h, B1 k* v5 R) h  |. ]& {" [8 `
全世界都蝕錢，咁邊個賺緊錢呢?0 w5 E9 N, H4 @1 z4 o
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無可能淨係有人蝕錢無人賺架嘛...
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& A+ x, Y, Y* U敬請各師兄解答: T# V3 B5 r+ q/ [: u

( x, j9 k3 @# S2 Z6 uThanks

: Y- g; R7 i" `. ~8 r/ v
那些根本係 紙上財富  
& U7 E# F" a; ^4 g: X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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4 N$ V9 a' O) o3 f' [/ D, Uhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產/ m5 e& X) f- q8 B8 c+ o/ w/ x6 Q3 m$ [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% ?" o2 B6 \$ v, G, \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5 X9 K% h3 C7 P' v  L- y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  b1 S( G) X5 o扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ Q, b) T' r- D1 i5 m
計番回報率就已經係50%,所以可以好好賺
3 ]4 C2 L' r+ c: n前提係銀行之間要互相信任先可以咁樣借法' H9 I. V( Y6 ^- {
同埋個市場既前境要係好先得4 T4 v4 v3 c0 r. W# |9 T* l
但當經濟一差,公司估值趺了,物價不升反趺
! F$ K, [  @: f( [' J例如剛才說10蚊的, 趺到得番9蚊, 3 f7 i% m1 G  E
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- Y9 [, u" R* k7 o3 ?' n
所以你就會覺得D錢好似蒸發哂咁- R5 R" @3 i* t1 z" w1 L

# ^* P" i* g) H" M2 r6 V# Z你都可以當標野咁諗, 個樣野多人可以狂升值,
$ S+ n& [+ k  t! E+ l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, / p4 N" L; U7 m. V4 |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ l0 w: {9 L/ S* K6 b
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: D6 S7 @" _
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, Q# O$ i, j5 @; P9 S1 n
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 C8 i* k) @/ d" Q& ^' C. o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 L; s: {) ?$ }- N6 B* 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
1 z9 H' u3 N( g8 c4 n( D. |# s咁你話d錢蒸發左去邊? ...

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正係咁樣
$ f. {$ G, W+ t! P: Z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
2 `) t/ e& s5 I$ P3 `) s( W分分鐘佢地唔使還錢# f. q& c( T3 L6 J6 k  ^
+ m2 r9 `  n6 R' X
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,
+ P( v/ U) R7 ?3 o8 g連國家都係問人借, 不停發債券, 印鈔票
0 b0 `' }5 E, P/ @8 }) `3 k) P2 ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產5 a4 M) w; t, p+ ~5 z
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
' K) R. V  k: r# G! ?4 P咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
) Z2 U4 E% n# D! A因為以前未生產, 先消費
) j1 y! {1 W: ?3 d( T& p2 M/ w而家就要多生產, 少消費