0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif1 `% Z' x2 A4 f6 I5 F; \
Why bank will sell 借據給第三者???
; L8 L% T7 n+ y& w5 E8 |8 rI was so confused.....

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" f8 M% `; B  ~6 w9 A講到尾都係賺錢
/ C$ D0 _$ T% U: o0 f7 ~6 q" Nso銀行可以不斷放款; {! V( a/ S! R( {2 {! U' L8 Z
美國的房貸問題散佈到全世界: z& X% c  \7 ^6 ~- _1 x
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mortgage loan 1 U3 J% I5 V, G* f# D# b
>conduit# }* x  k& l* n" ^
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
1 n  {0 j5 k/ V% M2 u2 B: R6 \最後去到投資者

Kev

i thought it is the reason of rate of return.7 V- D3 k1 ?. g0 s, e
CDs could have different ratings, AAA -> F,3 |6 Z7 F( G% ^
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ y( T0 F5 F' G, h8 e' A. f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* o/ D9 ?# r7 q' ~8 S. \in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 I, l% ^( l; X9 {7 s$ xAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
3 L$ S0 y% l& W+ I4 L( d" ^3 ^, G0 wsimilar to bonds, CDs trading in the secondary market have different value at different times,
0 s1 C- ~8 f- ^  Nnormally the value is calculated by adding it's principle and interest. ' d3 _% g4 W/ \4 ~4 o' o
eg. the value of the mortgage+the interests to be recieved in the future. + e/ `; y. {* L- M
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.& y) E& L3 F( r$ _
in stock market, it's the demand and supply pushing the price up/downwards.; S; Y; o* P2 H" c. Y4 u
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
4 l$ B8 J- w0 b, `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) Q; I7 S: \  t) s1 g2 @0 \
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 [7 p, y9 r5 W; w2 s# Dbut the value of their assets did really drop significantly.3 ~0 z5 P+ T4 O/ H6 e5 v
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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' G& y# Y" I# Y) H
Refer to last example,9 {$ F% _' O# l" K2 N* k4 V( i; O
that means bank A have no money because we borrow 10 dollars from bank A ! r9 E+ r7 Q& H8 p6 X
Because bank A doesnt have enough cash on hand
( |1 s- T4 i2 y. c8 Itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E- o' ^. H: @# K
so does it mean if E failed to pay D,
& _0 X1 W) b, _& a* _all the B,C,D,E have to go bankrupt?
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: @* _  o' l( \0 u& D* fthe multiplier just tell how much money created in a whole economy, 8 w) W0 q9 X3 A
in this case it doesnt really matter how much money is created,
$ \8 t% D+ c8 Cit's the problem of the debt itself.
- u$ c) E/ z! Y9 `' _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.gif2 O/ f1 o0 {0 O2 j* h0 V
小弟一直都唔明...; ~4 F+ _4 T2 B8 I! e
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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...& K/ S1 t1 [6 R( O

# b( w' W* b- _: o5 A0 M敬請各師兄解答
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Thanks

  G3 t( E- W: T$ \" s. w那些根本係 紙上財富  0 X% [. |' t! V  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 graphic4 A& T! i* o2 P. I

% Y- F8 |( w$ r6 Y6 ohttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產5 ^6 B1 c* w& }& y! ^: t& F
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 x  j1 ^! I! H; J/ a! ^. E( A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* K9 F2 U/ @. X3 F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( G$ L7 W! _* ]扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ F/ Z0 j3 M! y( ]" a) g5 Y* `
計番回報率就已經係50%,所以可以好好賺% _6 j  y4 J! J
前提係銀行之間要互相信任先可以咁樣借法6 }  D& _3 Q# M3 q- w: q
同埋個市場既前境要係好先得, {& T5 X$ T/ r! j! F, A: Q
但當經濟一差,公司估值趺了,物價不升反趺
; J7 i- X/ ]) K6 f% V  ~2 D例如剛才說10蚊的, 趺到得番9蚊, & J9 U; m2 X; e% M2 A
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 y( X# s: b7 E' h9 }+ C所以你就會覺得D錢好似蒸發哂咁( m9 F, _8 M  s3 A" _

7 J; q8 [- y$ h3 w你都可以當標野咁諗, 個樣野多人可以狂升值, 1 b3 g$ b! M2 t+ n
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,
: y/ O0 U* `/ ?; e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / D& d$ n! _' s' w
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 y2 H8 g- ~3 W( O4 G8 U
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. C* L& {, G1 I5 R* k
唔係d錢蒸發, 而係比美國佬洗晒未來錢, $ G+ L2 B/ d( A' B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 n9 c, R9 Y6 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
" s+ [! j1 L! y( l  ]0 L, [8 _咁你話d錢蒸發左去邊? ...

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" ?* @' G1 h9 H, `; h. ?1 I正係咁樣
: W. A$ l4 s- o, m) P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
+ N$ \0 I$ Z6 ]6 c( z- i+ g) ^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,
, R: L* y7 U, x* l連國家都係問人借, 不停發債券, 印鈔票
8 d; }6 m3 k: q# X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. k7 m1 _2 i9 k/ _$ c% D- u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 ~' L, Z% D. r; }/ `9 P5 j
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...: T: m% b7 _6 O7 I; \5 d3 z3 O
因為以前未生產, 先消費
# r7 k1 g' [# h' B6 s2 \而家就要多生產, 少消費