0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif/ @. S, F: C# s- r8 ]- F% T
Why bank will sell 借據給第三者???
3 o. E& Q, p8 c# @. q' {I was so confused.....

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講到尾都係賺錢
4 r" b5 P( j& Y8 b( C# N% oso銀行可以不斷放款
9 F# h) U) F6 r$ }; K7 O# ]美國的房貸問題散佈到全世界
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mortgage loan 8 n* O9 c6 t) f7 b
>conduit
: Y  n1 v* i4 U, l>RMBS(Residential Mortgage Backed Securities)
* ?4 A: R/ }: ~" ]9 s>arranger, i) M+ {) S' |6 M7 {+ \; W
>CDO(Collateralized Debt Obligation)
) D- Y. Z8 r6 \# b最後去到投資者

Kev

i thought it is the reason of rate of return.( h" }6 R1 O2 C: q1 s
CDs could have different ratings, AAA -> F,. i0 T* D5 o& `3 \9 @
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( G# a7 s& p3 K* D1 X& Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 `* o1 W, l6 J8 C# \
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 [; l# }+ s7 P$ YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 G( L( R, I% \3 x* M) l
similar to bonds, CDs trading in the secondary market have different value at different times,0 \% {+ O0 F1 b) x4 o6 X
normally the value is calculated by adding it's principle and interest. 0 P! U# b5 \/ I  K3 }% l
eg. the value of the mortgage+the interests to be recieved in the future. + n! j+ R' q$ V9 u9 L
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./ w, L5 p7 A9 w; w9 Z; O0 I1 C& j
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im not quite sure if the multiplier effect does really matter in this case.; Z9 }+ p& A3 ]! U, P9 V6 H
in stock market, it's the demand and supply pushing the price up/downwards.
* d4 ]0 g" o$ w) }1 C: B3 qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- k3 q: X4 h7 Z% W$ [7 hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' v4 u9 i) Q' `' @+ W
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.
! v9 k5 m1 ^' M6 X9 ubut the value of their assets did really drop significantly.
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. Q9 E. H- u6 p  ]+ m  l[ 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: q1 q  g" }8 v4 v' h/ k/ HRefer to last example,9 |& Q/ W6 h$ w1 u9 @" b/ z
that means bank A have no money because we borrow 10 dollars from bank A
. k" [) Z* x1 r( Q9 _' DBecause bank A doesnt have enough cash on hand 1 Q+ j; v/ X- o: M& P, x2 H1 D, `2 y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ ]  [4 G  k- `! t8 ]0 S( d8 U# [& OA->B->C->D->E
8 i- K0 P/ A2 O8 x' sso does it mean if E failed to pay D, ' J6 c  d1 G4 P  p# J! E
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, . S/ F% ]. k: ?: s& W5 }/ ?4 }
in this case it doesnt really matter how much money is created, 6 Y9 s* C$ u5 k5 q4 x9 E3 {
it's the problem of the debt itself.
7 a6 ^6 A* U8 z9 ]  g9 Hthe 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.gif4 d/ U6 l; p) b  r2 o& D$ m3 B: }
小弟一直都唔明...2 W4 ]6 S, r9 Q( d( d3 r

6 Q& h1 \  I. G- Z" u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...# I  p1 r# `* Z9 W& O
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敬請各師兄解答; R, u8 X& Z8 t' c) ?. d* N
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Thanks

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那些根本係 紙上財富  
% @1 Z9 S' k% J; b8 B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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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
9 _+ g3 m2 j& n# Y( `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, H% L" b2 C, s8 O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- b1 w6 G- g5 q& Z
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' b4 P  |  a/ R- g6 [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 @  U/ L9 f. o" a$ r5 R/ y計番回報率就已經係50%,所以可以好好賺
3 r2 Q2 K: ^- n8 I2 z8 k前提係銀行之間要互相信任先可以咁樣借法
: B1 X  t' h: Y% z( G1 K同埋個市場既前境要係好先得9 d1 B) f) D& \* {0 ]) \: G3 Z
但當經濟一差,公司估值趺了,物價不升反趺
' S- A# {2 S' ]# o( u1 m9 r% p( w) L例如剛才說10蚊的, 趺到得番9蚊, 4 L: @8 y! O9 L: l9 M
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* a! h7 n" W/ g! L* i$ g7 A# l0 H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,
9 q- g7 j, z" U. B3 N- _! @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,
- y- ^9 v* K( v5 w/ J! y1 h# ]% G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& c" h+ ^$ F% k8 R+ ^. f$ 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& ?( x) U) X9 Y6 }
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
- V1 t. Y+ u9 p唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 T4 ^# D4 C5 B, e, j# R9 i- `9 X淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 ?( R' E& O: s9 x7 q4 s/ k: j6 a
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  d  l% j7 f9 d
咁你話d錢蒸發左去邊? ...

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, w$ g! o1 h9 c+ B正係咁樣: Y* y) @# H4 ^( u6 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
. z( h; a6 B. m6 Q/ _# k分分鐘佢地唔使還錢8 z% B4 p* k  c; K
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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,
$ Y; l3 g7 ~& J3 N: u; i2 k連國家都係問人借, 不停發債券, 印鈔票
% d8 [& p3 ^9 l! L3 i0 c一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' V# E% E/ G# c4 v9 W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; }  A1 [% E! J! s
咁而家"爆哂煲"算唔算先至係變番"正常"???

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1 h* Z1 C; c0 u3 D& e! `其實係...* V% N5 T5 Z- U8 q: V4 p* E
因為以前未生產, 先消費1 N% S3 y# c) D) D5 l
而家就要多生產, 少消費