0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& M% b7 v/ E& S" `1 }8 H; gWhy bank will sell 借據給第三者???/ b' j+ l+ E' f- j
I was so confused.....

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講到尾都係賺錢
" M6 {1 L- ]/ T, o% @so銀行可以不斷放款
, Q9 W8 `0 h% ?' c. ^% S美國的房貸問題散佈到全世界4 t( A# l1 [$ R! z0 O( a9 c* N$ m
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mortgage loan % s$ L& Q( Y$ s& T; x. G
>conduit2 Z# r1 S: @( |) F. p6 \- z# I
>RMBS(Residential Mortgage Backed Securities)
/ T, K% y; `1 o$ B>arranger; s# ~. C0 ]* I7 q# D9 X+ V( Z
>CDO(Collateralized Debt Obligation)% N- y$ ~& O- ?, Q7 y
最後去到投資者

Kev

i thought it is the reason of rate of return.
: j& y' G8 W! |  [1 o8 qCDs could have different ratings, AAA -> F,
! v4 ^8 w% g0 W1 F" H/ x' u3 o9 Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' K7 c7 z( n+ b4 [main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 v! x" i, \+ Y( B+ X
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  r6 H0 ~9 _% }
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ V5 c5 G/ ^  k0 `. d# fsimilar to bonds, CDs trading in the secondary market have different value at different times,
+ w$ w& f+ r. I2 Onormally the value is calculated by adding it's principle and interest.
) y* \, a4 W* Q; x0 _# Keg. the value of the mortgage+the interests to be recieved in the future.
, B4 P& K  ?0 Q. x9 b- t* ]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.* I% e8 t) u) H& O! h+ L. f
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im not quite sure if the multiplier effect does really matter in this case.+ Z0 v$ U! f& ?7 c1 a/ t0 h
in stock market, it's the demand and supply pushing the price up/downwards.) w! Y0 s4 j2 q3 {
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 _" r9 x4 I* w, kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 z" Z8 y# D) @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.
  b- v  |4 |! s' x  qbut the value of their assets did really drop significantly.
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) z; J  q8 M* Q' [% L[ 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.gif9 h" z$ B# N; z. F" e
Refer to last example,
, v5 |: E, z& _# u8 M- mthat means bank A have no money because we borrow 10 dollars from bank A * b/ |# ]7 `) M5 p# e# c% [
Because bank A doesnt have enough cash on hand 2 Q0 E* l1 E0 n9 N% g  o+ E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
1 B0 r  ^; ^* C7 {0 Kso does it mean if E failed to pay D, : ^6 e9 s0 |; v! _
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,
4 X9 s0 o8 y* Vin this case it doesnt really matter how much money is created, . m4 K( f( I3 [) A1 U/ w
it's the problem of the debt itself.# ]0 B4 n" d2 v. Z9 n
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  e- O9 Z* Y3 c
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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6 B( A& ^  _; B! V( {無可能淨係有人蝕錢無人賺架嘛..., i* C' B- g- @2 A) N6 G2 a7 {8 q

, K$ k. u4 B% _- U' R0 ^! P+ {敬請各師兄解答7 P( D* v: u5 j/ T" _, L
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Thanks

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那些根本係 紙上財富  , s+ f& M7 N( T# q+ }( N& I. A) 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# V- [& k$ X! x( p' z

4 \5 Z) L" m3 h1 [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) W. E: f$ H( f1 g" v8 i
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# K/ r* `- v  P( |% H  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3 C( [* Z( c: f" l% U" ?# G; A8 ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, ?) _" p* `2 t8 f扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
& F# ?" @2 D- B# ^計番回報率就已經係50%,所以可以好好賺: U* N5 C" [9 ~! f* Y  h7 ]
前提係銀行之間要互相信任先可以咁樣借法3 R- m3 u" U* S5 d) }# L0 N0 S
同埋個市場既前境要係好先得
4 S4 t8 Z3 L! i$ L但當經濟一差,公司估值趺了,物價不升反趺/ U$ x/ T* Y& ?! n% |+ f
例如剛才說10蚊的, 趺到得番9蚊,
3 e: r& G/ Y# X$ _4 L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
. C+ f! U/ L0 W  |( S% |! L所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, - h7 t( C" m9 V# Z4 M: 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, , z& u8 ]; t* `+ {
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   ~5 i! I! S+ {6 `
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 t+ F, k8 m4 u2 w3 y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
8 l4 B$ q% I8 T7 I唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 Z$ |$ u- z, J# `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 d0 Y8 T% ^# D" [2 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4 j! i" C9 @9 g! J; |
咁你話d錢蒸發左去邊? ...

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+ h7 Z+ [  w  x, {; r( l正係咁樣6 a( H% W- O- B; ?" l. R; o& i
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
7 @( g4 G+ o6 j- u1 F% M, i分分鐘佢地唔使還錢+ I% t' [: G2 @! f2 d
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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,
& ^; p  }, m, ?  O0 F' B連國家都係問人借, 不停發債券, 印鈔票
* w; n/ Z& G( }1 Z  r" Q. ^一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- @1 w7 C! ?0 ?8 m  n
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
  t1 [  T# l% _% ?咁而家"爆哂煲"算唔算先至係變番"正常"???

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; S6 }3 _' _" `/ a% ^* Z' `其實係...
0 ]' t* D. m" T( N8 }1 g因為以前未生產, 先消費
2 j( \& p: A; D/ h' q而家就要多生產, 少消費