0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" |7 i8 k, c9 R4 s0 y; JWhy bank will sell 借據給第三者???' D" B2 Q% O/ n% t9 X
I was so confused.....

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講到尾都係賺錢  p! _9 v% i. F( s7 W% |
so銀行可以不斷放款
; n; X% k, r1 V$ b  {0 c$ Y, t8 [美國的房貸問題散佈到全世界
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' c' D" w. O2 v# b) _# Vmortgage loan ) e2 J/ L$ _& x7 k& P9 [* t/ \
>conduit$ `+ R6 o7 I& @$ U) O
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
4 ?) d6 Z/ U/ R" H最後去到投資者

Kev

i thought it is the reason of rate of return.
9 [* N* @  s! S4 NCDs could have different ratings, AAA -> F,3 \0 f. I  u" ~; P0 T" y/ n
more risky ones would have higher premium (interest rate) as a compensation for an investment.
) s  O. s7 L# H% Y) ~2 s& M# smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& Z0 H, [, ~/ b+ c9 e" S6 W' Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( v% g! F9 ~% H: F. ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) `4 b8 e4 y" n% Wsimilar to bonds, CDs trading in the secondary market have different value at different times,  U- S5 m; q# i0 H
normally the value is calculated by adding it's principle and interest.
2 p  A, A. ^% y' o2 J; y6 j% Beg. the value of the mortgage+the interests to be recieved in the future. 4 l" f, D. ~$ O' |0 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.& T- q& T; V- r# ^$ q
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im not quite sure if the multiplier effect does really matter in this case.3 {! C; ?7 O7 c+ z9 P" i
in stock market, it's the demand and supply pushing the price up/downwards.* ~* b: h# m$ v8 d) @: c4 m
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 G4 `/ K. D5 ]* t
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 ]9 e# h! Z5 N+ H8 ?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. 6 n- Z! B/ d$ L
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
0 `1 p' u2 b- L3 c0 O; h% M! IRefer to last example,
4 G8 C( B+ A9 I5 K* ~. }that means bank A have no money because we borrow 10 dollars from bank A 8 P; d7 S; u( _9 g, c4 @
Because bank A doesnt have enough cash on hand
1 i" K: o2 P5 U3 W0 ~) k4 m  ftherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 i" q3 C0 Y7 U1 {  d; l
so does it mean if E failed to pay D,   j4 y, ?$ s. M" I- J/ h; Y
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,
& ?- o  A; s* p2 C0 p0 X- gin this case it doesnt really matter how much money is created, ( n, _5 n  g# x' R" B( m
it's the problem of the debt itself.
. r0 t6 @. N  ]) k& o0 Vthe 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& g# `) A* Z9 F( \3 Q$ {# n& s& p
小弟一直都唔明...
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9 Y8 G7 h1 ^4 }% Z2 C: d全世界都蝕錢，咁邊個賺緊錢呢?* l, ~, d7 y" y5 _

% T1 ?2 Q; s( u2 s6 s無可能淨係有人蝕錢無人賺架嘛...' j' d8 f9 r3 X* L6 Y
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敬請各師兄解答
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Thanks

* U$ A" F5 W9 j) m% s7 p那些根本係 紙上財富  3 A$ I: {. D5 I/ v% S- ]3 g
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  ]4 V- ^) O, R/ }7 n- J2 Y

& n* j, p8 B, O, Lhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' P3 F, |! z& p* l9 ?當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" u: J# p2 g+ C5 W2 G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
' J, R4 H1 m: u& L2 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦3 @" }6 g6 g, b& J5 W' `( e# X4 ^6 s
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. I9 M2 ]( }* C+ {! R
計番回報率就已經係50%,所以可以好好賺* ^# D* k0 F3 k& \( }3 c2 S
前提係銀行之間要互相信任先可以咁樣借法
" e% T" P; K/ {2 t+ ]同埋個市場既前境要係好先得
7 u( z' W3 h2 h6 q2 D5 c. m但當經濟一差,公司估值趺了,物價不升反趺
- A8 ?' W1 K. r1 L6 z/ z例如剛才說10蚊的, 趺到得番9蚊,
5 _$ j/ t- [, a9 b咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" L5 d# N! b  M6 V/ V7 Y所以你就會覺得D錢好似蒸發哂咁7 g8 d& b. D& L% D# |# `& O

, r8 e/ U. G0 {2 [  z你都可以當標野咁諗, 個樣野多人可以狂升值,
4 q% y2 ^; O' ~# b/ x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 |& L( ?4 f& g& y$ D8 k' l
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 D! _! z; P- S' C7 v% 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
/ `3 t" Z2 I4 ?% V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  y: e! g6 w* E# ~5 k唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; r# J. v& d6 h" G; }
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 K4 m, S( P. t) C+ E4 |* _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4 o7 T- J" j0 v; ]" N4 w
咁你話d錢蒸發左去邊? ...

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正係咁樣2 k6 |, r4 I$ G$ c- n: h  H
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
( B  C, I- r' ^, M" L! z分分鐘佢地唔使還錢0 }: S5 Z$ O* ?) m+ O4 e

' d- C# N8 ?5 a, x$ [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,
% j4 p. b9 b4 @6 R# F+ C/ y3 A連國家都係問人借, 不停發債券, 印鈔票
. h+ b3 c2 L) A$ \一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) z1 v$ P) H. D2 @. r0 ^, i# 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
+ @8 [% Q4 t% y- Z咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...( Y/ d. R! b7 F3 _; P5 E
因為以前未生產, 先消費' \7 s( R; Y9 s4 t
而家就要多生產, 少消費