0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% a+ R, N' }% C/ F: e3 y: ]
Why bank will sell 借據給第三者???" ~$ a* [$ i/ I  {9 C' h
I was so confused.....

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  y: K7 |0 }+ G5 O+ i講到尾都係賺錢. H" Y# g9 @( i/ S
so銀行可以不斷放款7 [" D+ o; X9 O
美國的房貸問題散佈到全世界
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mortgage loan ' C* p6 E$ J( g
>conduit: g! k' {  \9 l# j
>RMBS(Residential Mortgage Backed Securities)
# ?8 u  h" n! k' T3 p>arranger! G: X1 `* ^1 z0 W1 V* F% u
>CDO(Collateralized Debt Obligation)# D# ?0 e/ E3 F! p9 }
最後去到投資者

Kev

i thought it is the reason of rate of return.
( Z4 L. J# _7 \# l! u7 Z$ a, @CDs could have different ratings, AAA -> F,
8 g: Y0 K: b( k" V; Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.4 k( d0 ]& Y7 e* j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% C& X( T; J- [( r. G0 N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% ~4 @3 a- J3 R" L( q6 [) ^
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 O. `# V. c0 _& R3 ?
similar to bonds, CDs trading in the secondary market have different value at different times,
2 T; g. o0 n& F- A( Fnormally the value is calculated by adding it's principle and interest.
: ]7 ?5 _$ M, e( c, y; v: |1 Deg. the value of the mortgage+the interests to be recieved in the future.
0 t# S+ O" p: `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 J. E3 d1 Z) p
in stock market, it's the demand and supply pushing the price up/downwards.1 S+ H7 a0 I6 s5 O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," V3 p- s; f2 h# n* ~' l+ e0 P
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& M: b% X0 q& Y. PThe 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. ! M" Y# P& @) J: b+ y- n
but the value of their assets did really drop significantly.
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% y& o; N/ A! p, X# n7 o[ 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+ T, P7 }$ U4 m/ a  L1 I- Z* K) H
Refer to last example,
2 g, B4 t3 T/ y9 ~7 Vthat means bank A have no money because we borrow 10 dollars from bank A ; X; I& e- \, D% x3 S- |# ~
Because bank A doesnt have enough cash on hand & L7 L' N# \+ O4 V
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
. ?& g/ F; G/ dso does it mean if E failed to pay D, & Z9 ~! J; k6 u
all the B,C,D,E have to go bankrupt?  B7 f) @; Y1 K
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the multiplier just tell how much money created in a whole economy,
. s9 I- z) Q' s/ d9 c5 W  L2 Win this case it doesnt really matter how much money is created,
# b, f/ U" c  w7 c1 B, eit's the problem of the debt itself., g/ @5 t9 B& U, S$ W
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/ p9 e9 }5 h% F6 e; Y
小弟一直都唔明...
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4 ]3 Q! W2 z' r' W( N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...
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+ b4 U, U! R) y9 t; @" f# T敬請各師兄解答
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Thanks

2 o, x) C( F. q! K那些根本係 紙上財富  
# {5 M3 P( }$ w4 d7 q% M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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' [7 J/ E4 D2 T: u. o: Z% E9 Rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
# t- j+ ~7 Y- M5 Y' K0 U當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% d9 ?; B% g3 A8 k9 s( {# U
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
+ T2 K) h2 [1 m1 q& d# n# i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦+ k; l+ z7 g2 O/ @+ e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" L1 G) e  _5 }" G計番回報率就已經係50%,所以可以好好賺$ J$ U8 Q( G, V1 R( R* t
前提係銀行之間要互相信任先可以咁樣借法1 J/ Z3 j! i) B8 F, S# u, J% ]) w$ y3 \
同埋個市場既前境要係好先得
. \8 B# H* k! `  r, ^2 H( ~4 P但當經濟一差,公司估值趺了,物價不升反趺) i* v6 g: A7 `1 y1 a- I
例如剛才說10蚊的, 趺到得番9蚊,
. d, J2 Z7 ?3 y: G咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 D6 D* Y, t# q5 E+ m
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,
/ P* K: e( z/ a5 E/ @0 _+ t8 W8 O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, 3 R  Q) f; L, q1 f, D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; r  n/ S8 P  ^/ T1 A; o0 C
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 L2 V! L! U9 Z& Z# W
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.gif8 A7 Y" [: t5 e+ W6 x4 ?
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 K" Q. e3 ^3 N% Q( Z  H
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - H; E7 s1 N& C% R/ x. D
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
) B- m3 L3 Q8 l3 ?& n1 V+ S咁你話d錢蒸發左去邊? ...

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正係咁樣$ f. y# V0 x0 ]; Q3 y
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
# I& {3 B1 }7 u% V9 {分分鐘佢地唔使還錢
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4 i4 f$ ]7 b4 z2 O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,8 W2 p# G) z! C/ c4 i
連國家都係問人借, 不停發債券, 印鈔票1 l% ]) ~- ]* x  \8 v8 ~
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ R4 K$ `( e6 f; L0 L' M. j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.gif2 \9 B  z! J$ W8 o' g8 u- w' P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..." x. S5 s, j0 D4 `! g& z; E
因為以前未生產, 先消費
+ ?  @4 ~7 V  W% M5 T# g0 m! v, H, Z而家就要多生產, 少消費