0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 K' U3 }* V3 a7 _Why bank will sell 借據給第三者???. a* w5 ?' l" N9 s
I was so confused.....

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講到尾都係賺錢
1 y% y8 {4 Y# \6 P& z$ sso銀行可以不斷放款
% l! c1 r2 w- {% m: q  }美國的房貸問題散佈到全世界
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mortgage loan 3 F3 |# y' y+ Y: z0 S5 c4 O) x
>conduit
! f; v! }" y; f& f>RMBS(Residential Mortgage Backed Securities)
5 s# f- S5 u* L) N- _+ u>arranger* K8 h& ~/ M" K- x
>CDO(Collateralized Debt Obligation)
0 N4 @, z) S  m% C最後去到投資者

Kev

i thought it is the reason of rate of return.% [6 R, s3 B/ M/ ^+ q9 V/ H
CDs could have different ratings, AAA -> F,
( m: S8 Q, s% G5 r2 pmore risky ones would have higher premium (interest rate) as a compensation for an investment.4 |8 u# u* X* v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 a) e# M. Q, G* z! n& i" g+ [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  B: }4 ^1 Z+ Z4 `6 h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( T  @' P" `5 I/ s& isimilar to bonds, CDs trading in the secondary market have different value at different times,0 T8 a5 [" P9 k
normally the value is calculated by adding it's principle and interest. # ^" @1 x$ t. n6 m3 Z
eg. the value of the mortgage+the interests to be recieved in the future. ' y1 J  {8 K; y
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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im not quite sure if the multiplier effect does really matter in this case.4 X1 A" n  r8 X+ E; o9 v! e
in stock market, it's the demand and supply pushing the price up/downwards.$ j& z$ h- s1 o* Y, D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) ^" r' z0 K/ H( tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 Q6 K# r+ x2 e. m3 h2 {
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.
: U1 ]6 ?* t) x% N2 Y$ R  F* Ibut the value of their assets did really drop significantly.& a' W& E2 {3 L

# _0 J& \5 [- I9 J( ]) n( D[ 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$ @$ k! N+ W7 J! f* t
Refer to last example,8 n6 h  t% K5 S2 r3 Q
that means bank A have no money because we borrow 10 dollars from bank A
/ ?/ }& {2 E' a6 {& }Because bank A doesnt have enough cash on hand
* ]8 D& M7 T3 e" I% k1 @8 htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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, F8 [% Y4 R' n. W; z* _A->B->C->D->E. n1 c$ i. w+ Z: T
so does it mean if E failed to pay D, / W) c" N1 H/ S$ p2 Q
all the B,C,D,E have to go bankrupt?
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* }$ M9 p  H1 c7 i) c! Ethe multiplier just tell how much money created in a whole economy, 3 Z: o( W* A) f# G7 Z5 ?* a
in this case it doesnt really matter how much money is created,
9 j* V! b# s1 S, H5 Uit's the problem of the debt itself.- R" @4 |/ x+ f# b. A3 i+ h
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  A. T# I: u$ S5 J8 V7 H2 S
小弟一直都唔明...; I0 ~/ ]8 ^, r" u2 j  P5 A8 H  V
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全世界都蝕錢，咁邊個賺緊錢呢?
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1 {' O/ [% ~; \. Y) _; Y& n無可能淨係有人蝕錢無人賺架嘛...
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8 E* D& M8 O5 j& c. G敬請各師兄解答0 Z' Z/ p' b9 @1 y# X

  r  ]2 a# U: W+ xThanks

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那些根本係 紙上財富  ! h5 w2 ?& e9 @  u3 Y8 C
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 graphic4 m1 b3 i* m9 y7 C2 N

1 J) I6 |! |& }) I2 V/ o8 u1 C+ |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7 w% e  C- w7 f7 F6 R5 J
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, j. X) H3 F7 S- T7 N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
7 L# f: B' x, o' t2 C7 c$ \0 a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 T1 A) W" d# j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% G$ ?' }" s7 a$ b" f/ W6 f3 J5 l6 D
計番回報率就已經係50%,所以可以好好賺
$ [, y1 X; g, ?$ ^前提係銀行之間要互相信任先可以咁樣借法* ~. P- {+ A% X
同埋個市場既前境要係好先得
- W6 i  v" J, b$ J$ D但當經濟一差,公司估值趺了,物價不升反趺
5 `5 h* Z- ~. O! i- f( L例如剛才說10蚊的, 趺到得番9蚊, * }! r$ Z0 U) R
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! i9 y/ A  b$ K; Q3 w* {/ ]0 m( H) Q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,
1 |- d) {; H- T0 u0 X% N" Z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, 9 l, u' K7 F0 F# J
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, p# P1 i4 s+ a9 t( b4 u8 K* 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7 Y& W- i( S# c. }1 V2 Y
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
+ z, o/ s& Z3 p. y2 Y, Q唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; F0 f) D, ?' `1 n& }: o9 M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! U3 v, U- k; z
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, ~- {: b8 V+ H' {
咁你話d錢蒸發左去邊? ...

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正係咁樣
/ Y+ r) B' y4 W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! w6 q% h! t  r$ F1 D$ w
分分鐘佢地唔使還錢
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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,
! A' n, w7 e; l( h- R1 w0 H2 {' o連國家都係問人借, 不停發債券, 印鈔票
" W2 _3 v/ k& r/ ]- H5 x7 _. K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. z1 }; Y/ t4 H5 M4 Y
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: X8 x' M2 ~5 G! E, c
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
1 h) a, }* G2 r# e! o因為以前未生產, 先消費* t4 u) p0 }! J6 f
而家就要多生產, 少消費