0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" _9 h7 o( G; k
Why bank will sell 借據給第三者???
( {9 g$ h' w7 a! {! V: KI was so confused.....

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) N. i5 {; ?: {' T, H! M9 _( H講到尾都係賺錢/ G1 h( v2 @1 Y% t. ~4 b0 ]9 G
so銀行可以不斷放款
! n' J9 z# R) _1 x美國的房貸問題散佈到全世界7 A4 k, B; m* I! j
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mortgage loan : E! X( w3 l; C
>conduit7 U9 T3 S, {$ ]$ Z' e" S" \$ G2 A3 {
>RMBS(Residential Mortgage Backed Securities)' d( p  C" _! {1 D9 h
>arranger
# v# W, T$ A$ a5 P+ @>CDO(Collateralized Debt Obligation)0 T% A' ]  e( @2 w# z# J& A
最後去到投資者

Kev

i thought it is the reason of rate of return.. e; O; T- T- g; ^
CDs could have different ratings, AAA -> F,8 i- P( L0 ?) I2 }. f. u( |
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 f( j! n; q+ {, C3 \0 {5 Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) G- S. t: C) j; A+ i. v% p2 V
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ |# T. ~0 Q! q" ~6 p& A* |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* M2 V% K. g& t8 E# Y' f
similar to bonds, CDs trading in the secondary market have different value at different times,
. B3 E6 `' v9 K+ f8 Anormally the value is calculated by adding it's principle and interest.
2 v  j" m7 J$ Y6 \. @  a  T! ~eg. the value of the mortgage+the interests to be recieved in the future.
1 M; a: K  G5 D  V7 V8 Bbanks 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.; i& s1 T! ^( A+ K6 n
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im not quite sure if the multiplier effect does really matter in this case.
1 O9 m/ t, A* C2 |9 R0 Pin stock market, it's the demand and supply pushing the price up/downwards.
; m: Y+ _' q9 @5 s; p3 F5 XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 H& B. [* i3 UA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ J2 L0 g" [9 K; D/ v( _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. 5 [' ~& x9 }" q& C7 s/ z8 d
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  q: D: h9 D! w" P2 U3 o1 K! A& z
Refer to last example,
: t( V/ [1 ^1 [1 Uthat means bank A have no money because we borrow 10 dollars from bank A # r5 ]6 l7 v6 n3 L% U/ m4 T7 u+ l9 ?3 a
Because bank A doesnt have enough cash on hand : D: z: E& w9 ^0 `8 k
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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; k! u1 S5 ]7 c: C3 U# {A->B->C->D->E' [% Z( j/ l0 N
so does it mean if E failed to pay D, 8 R5 }# l- L8 [: E7 I5 A
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,
- i, _, h, N$ H, p# B5 xin this case it doesnt really matter how much money is created, ! E, s1 j1 J* w4 a) b
it's the problem of the debt itself.8 K" M0 X- H2 T' 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
8 L/ d, d& u% V( X2 t! m* J" f, u7 U小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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- b: L4 M# S% m' q/ h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4 d( r( t9 N8 I; x1 Z% m
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Thanks

/ v. ~8 o0 f7 z0 N2 ]+ k  _/ E那些根本係 紙上財富  1 D) G( l! K- 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 graphic
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) k* D; T6 J7 _1 Q# ~7 h. f5 \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/ [4 g) e$ [0 c1 r! J9 h
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 }7 k" U' O5 Q  h2 J; Y0 W
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' \. K; B" e5 K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- d6 X2 Z% Y, r6 A& w' |- r, z扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( p' B- K5 }. Z- K
計番回報率就已經係50%,所以可以好好賺
' ]' ~! X( {& R* g前提係銀行之間要互相信任先可以咁樣借法+ O) C( O" Y2 y9 u
同埋個市場既前境要係好先得
8 Q' j# M# J5 l但當經濟一差,公司估值趺了,物價不升反趺3 i5 @# }- `# i% T, A5 q+ W. a
例如剛才說10蚊的, 趺到得番9蚊, / [* o- i0 b4 O* {( J( N
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# j1 V# |4 C8 q, o; Z# p1 o' x
所以你就會覺得D錢好似蒸發哂咁6 ^: R0 ~! K' a2 E1 p6 U0 N
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你都可以當標野咁諗, 個樣野多人可以狂升值,
: q+ v2 P' m' o+ t  R) N$ d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, 8 S, m  Y( R! r% K2 p/ \0 ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : s6 x/ y6 k) C. p8 K( j* 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/ {. ]( g" {) W2 s" X
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+ }* N" d" `% J1 {
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 |- n; h' O5 ~; |9 b" ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 Z' k% {' q; ~  O  H  b6 \1 G# I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
5 Y5 N3 s- J+ q+ t1 J5 v8 e% p咁你話d錢蒸發左去邊? ...

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7 ?+ _& x* z% d) T4 a$ a, ]正係咁樣' g, u( s3 e5 [2 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3 ]6 D! t. s5 u+ G" K& W$ v
分分鐘佢地唔使還錢5 c! U* F: b5 i+ K/ B% w* i

9 N  n  i" P3 R' \  R6 F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,
) T8 `, W- r2 c3 T連國家都係問人借, 不停發債券, 印鈔票! \1 ]* g8 y2 T4 S7 m
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) C6 Q3 k$ t" S' k6 {, W: B/ k$ H
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. x  c/ p- G" Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
: Z# h$ g, g' N( v1 ]  C8 L0 L因為以前未生產, 先消費
" p" S* e5 i7 d# t. v而家就要多生產, 少消費