0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 m) ~, V! j# A: t+ p( LWhy bank will sell 借據給第三者???
  L- C( T; ]1 C  _9 EI was so confused.....

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講到尾都係賺錢$ f* ~- L' ~. y) r# l
so銀行可以不斷放款
8 k* ?4 f7 v' t美國的房貸問題散佈到全世界
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. U3 f$ Y) ~6 I8 `9 {$ ?mortgage loan 4 b; y6 }( ^; p
>conduit" v2 o+ _$ f0 M
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)- k# G) q8 a1 f+ H  S" x
最後去到投資者

Kev

i thought it is the reason of rate of return.
5 j) S0 g# x4 M/ {* ACDs could have different ratings, AAA -> F,
$ k, _- B" L/ Y6 Z9 }3 ^* @" Gmore risky ones would have higher premium (interest rate) as a compensation for an investment.: l! K* n" U8 @$ H0 ]* W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,6 f. v1 v: ?  i4 |: g0 a* q; |$ [
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 Y5 y' Z" W, Y$ D  ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# m" b0 F7 S' r9 i- U2 a+ L2 K! j
similar to bonds, CDs trading in the secondary market have different value at different times,
- S, `4 n: ^; z& n0 ^  @normally the value is calculated by adding it's principle and interest. # r- m  k# K/ L( b% o4 P9 D
eg. the value of the mortgage+the interests to be recieved in the future.
. o; F6 a5 C' j! v% r" xbanks 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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. P* ^* M5 K: ~, T. u+ x' fim not quite sure if the multiplier effect does really matter in this case.( T+ s& p5 [$ H3 Y
in stock market, it's the demand and supply pushing the price up/downwards.8 q. p" z1 w$ W9 P
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 N  u  [9 o. \7 p+ ]) p9 K. dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) W7 Q1 s1 ?2 s  {: tThe 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. + ~3 Y! b3 A, h, O& p. q
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
% K6 M4 E( C$ g* a, b( [3 s; dRefer to last example,3 ?' @7 E1 P+ T$ x8 x3 a
that means bank A have no money because we borrow 10 dollars from bank A   ]. e& k- M, K  u8 ]: G1 R( h4 K5 ^
Because bank A doesnt have enough cash on hand
& e# ]9 D/ s( _4 _+ ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, M, Q, Q/ G, N* I$ F
so does it mean if E failed to pay D, 0 z, _( T( D8 n% `1 p
all the B,C,D,E have to go bankrupt?$ t4 t% B6 J' Y
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1 b+ d- d. h( R; t  Vthe multiplier just tell how much money created in a whole economy,
* h* c+ `. ~! R7 [in this case it doesnt really matter how much money is created,
& A  |! v9 }  K+ M; Sit's the problem of the debt itself.! `  {* M* V$ [6 l+ B7 X9 r7 {
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.gif9 u1 A: o+ Y% n# b& k
小弟一直都唔明...
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( d" q5 P; _2 i全世界都蝕錢，咁邊個賺緊錢呢?2 i, c/ i5 M; G6 k) u( D# `

# c" P- c: |1 [2 O- O% q. P無可能淨係有人蝕錢無人賺架嘛...) i& i& ~* z) k
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敬請各師兄解答
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3 B$ V0 r% J! r8 \8 Z' U4 [( i3 NThanks

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那些根本係 紙上財富  
. C! L; ]1 B( c  ]) q9 n0 P- p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. r5 b( C0 X. M# D- m4 F

0 D; p# N2 H- yhttp://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 J) G& [% {1 G" F" ^
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' [2 _+ C! Q* W  F
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
* }. N  o5 d8 K; C4 a' T個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 o- N. E3 w' m& L
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,4 P/ |8 L0 I  ]
計番回報率就已經係50%,所以可以好好賺
$ H7 C8 r- l9 U' P& `前提係銀行之間要互相信任先可以咁樣借法
$ l8 G; {8 y: ]; o$ f+ s同埋個市場既前境要係好先得) t6 O# v+ K( _& a% C" z
但當經濟一差,公司估值趺了,物價不升反趺* T$ Y5 s2 y! g) x
例如剛才說10蚊的, 趺到得番9蚊, - s2 K) x# N! d, ?
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( e/ L" {& D# l! C/ G% `; H
所以你就會覺得D錢好似蒸發哂咁  @# T- G; S4 J8 C1 a1 I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
  u1 }  Y9 w: W& J0 M" {0 E$ L; E: V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, % o; b: P5 y/ g! }# e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, L4 \: B7 L! S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 {( `( J+ `4 [7 i" G0 s8 J( a% h
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
1 ^. `2 l& x, U; e唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 c* X* v) U7 h, G" Y0 y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. v( x2 \$ x5 h) d: E: V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 v) V: d4 }& F0 Y咁你話d錢蒸發左去邊? ...

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* f6 J# w  }: N- s正係咁樣" l, a# t: L8 d) {! S
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 M$ x7 [+ ]" z( P分分鐘佢地唔使還錢0 ?8 N( |8 Y# F* H9 I
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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,
! W5 |0 k. y2 U# M- V! n* D7 Q連國家都係問人借, 不停發債券, 印鈔票
- ^  i9 i4 r) d' A$ c一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. n* _+ ]& @9 z1 X) a$ D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.gif8 n# c1 `2 G4 H: H5 t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
- j: S# T6 g1 U2 v5 _因為以前未生產, 先消費
7 A& ^1 G3 t  t0 O4 X而家就要多生產, 少消費