0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 O9 ~/ x6 x5 j; a3 R* [! Z& DWhy bank will sell 借據給第三者???
+ R7 E- \4 }$ P* Q) q  fI was so confused.....

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講到尾都係賺錢
  L, }* o: Q( p9 ^so銀行可以不斷放款
" y1 |( d& m! e2 _1 c3 `# q美國的房貸問題散佈到全世界
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mortgage loan : p' f; p; c3 S
>conduit# X9 {- T* t" F7 r; k2 e6 ~, H
>RMBS(Residential Mortgage Backed Securities)% l: _( b) o0 Q% V  c& T# M( i. S' t
>arranger
4 v& ^, K+ ?8 t8 X) [6 R>CDO(Collateralized Debt Obligation); K# H. V% C3 N8 f+ a. a
最後去到投資者

Kev

i thought it is the reason of rate of return.  {5 Y4 H* [8 ]  @; @7 h: L, ]
CDs could have different ratings, AAA -> F,
4 n0 J* \- v9 R, R' _7 m+ Pmore risky ones would have higher premium (interest rate) as a compensation for an investment.* O* ]1 v, n6 T7 y" A1 f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,8 L& O* P  |/ T7 s+ o6 F
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. G7 ^1 y3 h$ {  o) `2 X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 v# u/ Y7 D2 ?
similar to bonds, CDs trading in the secondary market have different value at different times,
8 K" J* H% {. ]normally the value is calculated by adding it's principle and interest.
7 d) ]; V0 @; J# y* leg. the value of the mortgage+the interests to be recieved in the future. ! a  C3 ^2 d. W
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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+ u" P) Z* K$ V" u: w' Bim not quite sure if the multiplier effect does really matter in this case.
! B4 F6 i  }; T. e2 [5 Y) uin stock market, it's the demand and supply pushing the price up/downwards.
$ {4 O$ M$ M- d+ O3 mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 J( C  M) ?& }7 ~/ ]1 {- B
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 J1 e2 W% H  I4 l6 y( {5 H: V$ j& x( wThe 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.
# Z0 n4 @0 h  B2 y+ k, Tbut the value of their assets did really drop significantly.! ^3 ?1 }) ?! |( [
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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
+ y" u& L( S+ p9 |6 t9 \Refer to last example,
7 i. K1 R- E$ Q* |2 r8 O* J5 Nthat means bank A have no money because we borrow 10 dollars from bank A
2 S- y' l* ~4 U2 p* x3 kBecause bank A doesnt have enough cash on hand
, L* I4 X. v, n6 r( l. jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
9 C. u8 Y7 m9 o8 K+ ]" ~# fso does it mean if E failed to pay D, + x5 g0 T- u) _$ T5 z
all the B,C,D,E have to go bankrupt?
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; b2 s3 N3 T; R) T8 dthe multiplier just tell how much money created in a whole economy, " M8 U! U  j" B
in this case it doesnt really matter how much money is created,
) b! S; x( b; O; nit's the problem of the debt itself.
* q) u, W* Z& y0 o* wthe 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# n3 \5 P  U, x: ^: V
小弟一直都唔明.... C$ o+ z( k  d) {7 l! G( d3 g$ C

& s# c0 ^! s9 N; ?- E0 k9 [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...( H( e2 S+ |& I0 ~; C1 s& D

- Z* u" _! B* a. U8 T0 D敬請各師兄解答
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6 h  b7 l; \% ?9 ]3 F" AThanks

3 v' V: s0 y' E* P' [那些根本係 紙上財富  
9 r% k/ {# J/ f% d5 O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$ P+ D' N! Y' Q* hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產. O' f5 \4 Z  V% H
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" L) u# V3 k2 R2 k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3 M6 @5 _; r) x' W3 M; d& C
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. u$ ^5 E! ?% f2 d) A" {1 }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 V+ Y( Y' K8 ?6 {5 k7 N計番回報率就已經係50%,所以可以好好賺
& c: @; o  q9 p; y: A! s* y4 ]! f前提係銀行之間要互相信任先可以咁樣借法/ y2 h" ~6 |$ G$ J4 d* j
同埋個市場既前境要係好先得
" n, \+ r7 D7 E% d2 [. s/ L. R+ V9 f但當經濟一差,公司估值趺了,物價不升反趺2 N5 n& E$ u+ i
例如剛才說10蚊的, 趺到得番9蚊, 3 C  j# n7 k. ^1 W
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ o! f1 c8 {* f
所以你就會覺得D錢好似蒸發哂咁, Z/ t9 c" M# [* c7 T
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你都可以當標野咁諗, 個樣野多人可以狂升值, ; I. ]9 {8 k6 [# ]
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,
% `; s5 z; i: w2 f' V5 \  w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( f4 H* ^% T, y1 ~! N
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& {; ?, P; K- M' L5 l
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
. _3 H+ n9 W# V; K唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& `1 V9 y5 G4 ]* E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * j9 B( f  j: D4 n7 l* J- |
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6 b6 \. R: i& p: d8 N& ]2 Q
咁你話d錢蒸發左去邊? ...

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5 R+ J7 {$ D5 u$ J+ ~正係咁樣% P, _. a  M+ t. N6 h6 s3 R  n* d
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: ]" y3 r9 x. \7 j7 s' n3 R
分分鐘佢地唔使還錢
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! Q0 E- }& I4 ~( g1 D# |6 T3 E7 s( H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 I9 _2 I$ w2 F# d8 I
連國家都係問人借, 不停發債券, 印鈔票' y9 @& E  F- O( j. \+ D) j
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  p9 D2 ?* e+ @) _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.gif1 |+ @/ n/ k( R2 U5 [3 \, A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 k! m% i4 D  V* J其實係...
" ^9 v. ~, s3 K# F% @% x/ _5 L! V因為以前未生產, 先消費
6 V, [7 ?, ^8 _5 a" V而家就要多生產, 少消費