0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
8 N' F' c: J5 W) o8 ]/ Z* h( RWhy bank will sell 借據給第三者???  G3 s6 {+ L' A) P3 H
I was so confused.....

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5 Y: y+ n* j  ^講到尾都係賺錢
  e% q/ d, e" K. p5 h7 ^8 Oso銀行可以不斷放款
3 X6 p; ]0 {! f: |. P美國的房貸問題散佈到全世界
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) o3 y4 W) Q( f; \mortgage loan
, F9 K$ u. L, [>conduit
* ^; j0 q4 `, _2 f8 r9 t; [>RMBS(Residential Mortgage Backed Securities)
' p4 N& V" l! F! L3 S0 L2 s9 W2 c>arranger, @( w( `) a: N/ f8 C# Z
>CDO(Collateralized Debt Obligation)
2 Y7 C0 n& I+ |0 `" p: u4 K/ l" l最後去到投資者

Kev

i thought it is the reason of rate of return.
. h( K* j$ g: s- mCDs could have different ratings, AAA -> F,
& a6 Z" P* n& J3 nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 `4 Y" g, G/ q2 `8 P1 _! hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 |" Z0 H% r5 i/ I1 Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  p7 D- q+ C4 Z0 E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." q% H& {8 O1 n5 |% e
similar to bonds, CDs trading in the secondary market have different value at different times,7 }# A* Q9 X/ y7 B
normally the value is calculated by adding it's principle and interest.
! ?) `& Q% k1 P) d* Oeg. the value of the mortgage+the interests to be recieved in the future.
) ~9 \) G8 U  r+ U( [- `9 ibanks 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.& e: b/ F; g5 Z5 V( d& t* ~" Q
& a  G- Q/ g. k# N5 ?. W9 x1 v# G
im not quite sure if the multiplier effect does really matter in this case.
+ I8 C+ D# v# n# V0 cin stock market, it's the demand and supply pushing the price up/downwards.+ u$ E( U( b5 i) M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 A1 A/ t6 ]* O. |1 _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 V2 d+ n! e/ ^0 [/ a  b& e& RThe 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.
1 Y; L$ s+ L3 O4 |' k! U4 l2 g+ w. a- ^1 ibut the value of their assets did really drop significantly.
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* L) l) F5 h& w* D* T7 n[ 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  M1 j3 H% F7 h& f$ @. F. [
Refer to last example,
+ P9 R0 [# j5 i  z% F: x+ ~2 [that means bank A have no money because we borrow 10 dollars from bank A 1 y, T: E) T1 @+ W$ U# Y% ]( K
Because bank A doesnt have enough cash on hand 4 Z0 S& Z+ E" i" R; d" Z. J
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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& U. I8 y, z6 B- jA->B->C->D->E
" G9 c& V% j. |* w8 `4 Qso does it mean if E failed to pay D,
5 _. H! h4 \2 O3 f6 ]0 \5 J' hall the B,C,D,E have to go bankrupt?4 V4 i" [) ~3 X  Q
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the multiplier just tell how much money created in a whole economy, . W* g- j& O0 \& f: z' e7 [
in this case it doesnt really matter how much money is created, / B0 t0 ]2 h0 {/ a# ]6 ?: j
it's the problem of the debt itself.+ H; l* O0 P6 ~2 s( ^& K
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
# ~8 k6 T$ d0 R& R小弟一直都唔明...
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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...# n% Z" D+ p" \2 y4 L* h, e. r

' k& P; |7 e1 [8 j6 D敬請各師兄解答
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# ], |9 X& w0 H4 ^2 u! e* WThanks

4 O( p* X* d1 n& t那些根本係 紙上財富  
' x3 y9 F( D" H$ 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 graphic8 k( V( z/ K2 s* T/ S1 Z4 a

' G) ?( {3 v4 R, c. V+ z6 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/ C! R4 C2 S. W5 m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( B/ Q3 ]% ?  A5 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
5 x- p2 ]2 j  l& j個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 F* s' R6 t1 }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 f: ?) P9 y7 W9 u8 q
計番回報率就已經係50%,所以可以好好賺
4 W9 v7 S, D! E5 E6 n前提係銀行之間要互相信任先可以咁樣借法) M% ]. P) k7 V1 B7 R8 ]+ c
同埋個市場既前境要係好先得( P( {+ R6 [9 P# `! o8 s
但當經濟一差,公司估值趺了,物價不升反趺2 u3 m- ^* {9 O2 o
例如剛才說10蚊的, 趺到得番9蚊, 7 i7 u- ]' `& }6 D* y* ?
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 ?2 E9 I/ `9 X. ~
所以你就會覺得D錢好似蒸發哂咁3 k) V# w2 p4 B+ f3 g+ l$ u

5 S. |- i. L7 q3 h你都可以當標野咁諗, 個樣野多人可以狂升值, 8 J/ W8 @" @3 e8 I9 A6 J) p
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, # r* |: p, w* p) v* N# c: q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # S# t" y6 V1 V% F7 f$ K* Z; |" o
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
; t7 S5 O0 G% x& _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
4 m6 O# C% a) V$ |3 d+ x5 a) E唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' C7 W6 e9 P# l1 A, x" E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / z; h1 Q; R2 B" 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
  b: W" E, O. F, u咁你話d錢蒸發左去邊? ...

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! o! w7 F+ p! r, J# E7 {正係咁樣
- a: u5 v3 V% ~: \# |+ _+ {( _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
1 D! v7 }! j! M4 h4 @+ V; P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,
8 R2 S- u7 E4 X! g) V# T連國家都係問人借, 不停發債券, 印鈔票! h1 K  ]- c2 n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 N$ U) K( P6 z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
/ D$ x' V# e9 M  p1 w咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
0 [8 `  A# @8 i. u7 E0 \7 q因為以前未生產, 先消費( G, E2 `. S+ F
而家就要多生產, 少消費