0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% R4 N; O. }4 w; M! `Why bank will sell 借據給第三者???
4 u7 e+ t/ A/ a  }, t% MI was so confused.....

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  o" c4 W# i, {9 {5 b6 x7 E講到尾都係賺錢# D+ u5 C3 h) i! K/ M! Z
so銀行可以不斷放款; j* X5 F( d5 c" H8 q, s! R
美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)1 v5 e* }3 _6 {8 `* ^) ~
最後去到投資者

Kev

i thought it is the reason of rate of return.
. W+ x/ C; F0 q) }; P& |1 |+ xCDs could have different ratings, AAA -> F,
- n" R& X% u% T$ Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.' I! y' H3 u7 b4 ~& |- V( i9 T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! g6 D. Y6 b7 R7 T
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 u2 g# n6 t6 u$ LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* M$ C0 u4 l; g0 i4 B+ q; Z& ]5 J
similar to bonds, CDs trading in the secondary market have different value at different times,
# l. m0 s% N" `; a, O* Bnormally the value is calculated by adding it's principle and interest.
) _0 }, j5 q5 j+ r1 i0 _: Eeg. the value of the mortgage+the interests to be recieved in the future. $ |# v0 z) q# r6 g0 o. ^3 _( e9 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.* H: R( v# m5 h1 P& H" M5 w

/ u1 t( [$ v- X. nim not quite sure if the multiplier effect does really matter in this case.
+ `2 Z/ l" d# {* @1 p/ D, s# rin stock market, it's the demand and supply pushing the price up/downwards.2 E$ J. d# w7 \% s8 d" D7 w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 H# C$ d6 @6 Y3 z$ TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 R9 X3 G5 M' D* q2 z8 c
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.
7 m- M9 p: b. {0 b# jbut the value of their assets did really drop significantly.: j+ a( p5 J2 P& A7 w% M& ^
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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; a7 {1 _4 a* ^, W: C2 y, f
Refer to last example,
: k- @8 m0 o4 `8 a6 o4 Ythat means bank A have no money because we borrow 10 dollars from bank A ( p2 b2 S/ J6 P
Because bank A doesnt have enough cash on hand
) q/ E9 J( L( O  x& F# M9 Z+ rtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E1 W8 M, A! A  o3 V+ s: e" [; p/ x
so does it mean if E failed to pay D, 1 z  I6 O4 o% O% Q
all the B,C,D,E have to go bankrupt?: Z0 S& a% Z1 S# z; r' J6 y9 f- R
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the multiplier just tell how much money created in a whole economy, $ i* `5 g* R, G. \3 h/ A& ?7 e
in this case it doesnt really matter how much money is created, / D. }- X- |8 J0 f
it's the problem of the debt itself.
' O! a2 g+ k3 b0 P2 g: @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
/ s& c* l/ b3 R/ X. I! k& R( E1 P小弟一直都唔明...! _* Y6 R2 L3 ]: c, C: l

1 F& t5 H/ Z/ }1 C. u  i6 \" O& g0 Z全世界都蝕錢，咁邊個賺緊錢呢?4 o- G* ?+ M( N/ l2 U

3 b4 s# z$ L: O, F/ F5 z無可能淨係有人蝕錢無人賺架嘛...7 ?' a. t6 f$ {& E1 l' I
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敬請各師兄解答
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Thanks

& v/ u$ s# [+ I+ U/ L. }( l! |( b! T那些根本係 紙上財富  2 ^& a  [# V! \4 |* g2 r/ E
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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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產0 F& P- g/ c1 {4 l* ^* Y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高; P; z6 H/ n+ _. d8 f& A6 e
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
0 Z3 W' `# i$ h* {6 i8 j: J, W! a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: b5 d7 L3 Z9 @* W% L: S' W扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 F! U/ V1 l/ H0 y5 E3 L: a1 h! [- e計番回報率就已經係50%,所以可以好好賺
6 t/ f4 g+ p1 e3 L1 J前提係銀行之間要互相信任先可以咁樣借法# C. S, I/ {$ c) o1 d4 Q, |
同埋個市場既前境要係好先得
& F( q% d# D) n- B但當經濟一差,公司估值趺了,物價不升反趺9 B  S: Y/ `2 y7 D; z
例如剛才說10蚊的, 趺到得番9蚊, , }$ y; V: d$ i+ m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' |! t. Z( p: s2 `5 }
所以你就會覺得D錢好似蒸發哂咁0 D& @7 c+ j8 R3 U* ~
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你都可以當標野咁諗, 個樣野多人可以狂升值, 6 w- M; z$ a$ ^' K0 {& ]- T( Y, Q: w
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, 6 D) T* o- T  z2 E& @) |% \  G) k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. X$ {: O) V- {+ t8 W/ X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 A- i. n; T3 G1 o
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
" C0 ^1 Y& `% ^+ y. M) J$ c5 p唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* p, F0 O1 V, s# U; a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
: q$ l0 t$ x. a: [! D7 M/ j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* Z" g9 c" U9 @! Q# f" ^6 ]
咁你話d錢蒸發左去邊? ...

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正係咁樣( v1 p# g" u; D, F( C
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: \+ C& e; @( i* z( e
分分鐘佢地唔使還錢: R5 r  d' `$ x' O+ B
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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,
. m# C% [. c+ M0 O6 N& G! g: F連國家都係問人借, 不停發債券, 印鈔票& x/ D# A1 y5 i- X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 G$ c+ _  _1 {2 N( l$ X. i  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.gif1 C- o, X; R7 t( c" A1 G* `9 V! `
咁而家"爆哂煲"算唔算先至係變番"正常"???

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* G7 i. ?1 D: W6 m8 K其實係...
4 {# |$ T) z+ u* \! o" f因為以前未生產, 先消費* g7 l: {. d. b7 S
而家就要多生產, 少消費