0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 p+ m3 C/ y8 p+ MWhy bank will sell 借據給第三者???
$ a, t9 i: h/ T8 [I was so confused.....

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講到尾都係賺錢
5 s; h) |. V. O7 H5 G$ |so銀行可以不斷放款
8 M1 ^! m+ A/ h4 \" E6 I美國的房貸問題散佈到全世界
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+ J% Q, e( y0 A2 `. U. R% Zmortgage loan : O6 W' F) \& V
>conduit
/ a0 A+ y( w- g0 H! K' g>RMBS(Residential Mortgage Backed Securities)
( x. f. v* y6 ?, ~& e% x2 x>arranger3 J- h# U7 w3 y, t
>CDO(Collateralized Debt Obligation)) m. m) a- r3 L5 p) D
最後去到投資者

Kev

i thought it is the reason of rate of return.* [) D, ~* {' `! f4 @9 ]
CDs could have different ratings, AAA -> F,
$ \1 N+ Z8 M' w) N2 Z. ^7 H( {more risky ones would have higher premium (interest rate) as a compensation for an investment.
! k. E1 r3 M2 R, o4 n, Kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 `5 L' g- A8 ~- g& M) gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 H! C5 @2 S1 E  q7 b. S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" n2 d. x9 N* D/ Ysimilar to bonds, CDs trading in the secondary market have different value at different times,! R. t2 g# A! N  C, X+ A! K
normally the value is calculated by adding it's principle and interest. / ^5 v0 U# P6 s9 k
eg. the value of the mortgage+the interests to be recieved in the future.
  z4 H$ f- r) s3 hbanks 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.
4 f/ S( z/ U* }9 H# L: e2 Ain stock market, it's the demand and supply pushing the price up/downwards.
. |+ k7 @+ \' w. Q: z& sFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
: n+ M) W5 j$ Y2 M# L- H5 Z, m1 @: AA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ _8 H$ p2 ~' w8 lThe 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.
$ G' V* w* g, E- s# y% N6 lbut the value of their assets did really drop significantly.
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# V% `" f" X; w, C/ {% D[ 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.gif5 r8 ~+ U5 P! G6 e- y1 z, K- j/ l2 z' J
Refer to last example,3 I0 C: x) @& k/ F- ]; I
that means bank A have no money because we borrow 10 dollars from bank A - U. B. ^8 x$ s; T
Because bank A doesnt have enough cash on hand
$ _* t  B& ]- ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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" q+ z# S1 ^/ o0 |: B1 Y. AA->B->C->D->E( t0 [# b# c2 m; D2 W4 \- M/ r
so does it mean if E failed to pay D,
: @$ k& g) f6 k2 ^$ L5 D. u7 Jall 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, ( ]' u0 j) x0 O. x% g7 @& I. ^8 C
in this case it doesnt really matter how much money is created,
0 k2 N) e9 ?8 O& j5 I$ l7 hit's the problem of the debt itself.* w$ O) C% P( F5 I0 P7 @4 }0 Q
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
5 ]+ {( D* h  A) e4 t; L小弟一直都唔明...2 u. _, ]& J6 P8 U( m) ?

* z1 S" L) m( j6 F* T0 _全世界都蝕錢，咁邊個賺緊錢呢?0 U7 [0 Q! z: _9 {& l: Q- C  V3 D
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  - J( `' I# ^. a0 y
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
. N' _$ p9 [% K, e  R) O當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ _( ~  m, r9 X. F, C# Q2 l. g1 C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
* R9 z3 Y0 D9 x3 D! x1 S: {個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! H' ]$ G5 _) A2 _
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 `2 ~: g) u1 ?' k  ]7 Q
計番回報率就已經係50%,所以可以好好賺
1 Y% O% }$ k5 f& |2 U/ ^0 P( E前提係銀行之間要互相信任先可以咁樣借法! |- ?0 ]9 P( k. ~. I5 G
同埋個市場既前境要係好先得& i3 U8 s8 Z6 a- G! F/ A* V  s
但當經濟一差,公司估值趺了,物價不升反趺
; ]; r/ t- b6 D6 `+ J  }例如剛才說10蚊的, 趺到得番9蚊, 1 B, g- R9 N  L) B5 {* S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 n* X# \" @: p5 C5 u; M
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, ) V3 X1 d# j  t% _" Y( l
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,
& [+ \% [% L9 {9 ~1 ?4 d+ u7 ]- t) V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( @5 n5 y+ ?0 y# `* E6 f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* y8 x2 v2 g% Z3 f- f3 e
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
+ v8 V$ G3 F" H5 I唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! p& S# B* O" K! B5 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) n% a/ K+ ~& b* v) P$ ~
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
: Y* U! Z7 l) p+ g0 a咁你話d錢蒸發左去邊? ...

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正係咁樣! z( o' u' h, d- z6 R9 Z/ T+ q
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+ {  Q! Y& _# @$ |! f2 f4 j
分分鐘佢地唔使還錢
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5 y; B; s# z. F  V- F$ H2 P& W. D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,* O. e+ y) U3 M' b, ]
連國家都係問人借, 不停發債券, 印鈔票0 c9 E9 X! U5 g- K' }% n
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* o6 S& P7 w/ V, X; L! ~
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* C2 R$ j9 C/ D# {- U% z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...$ Q2 @& b; X' G* v% a5 f
因為以前未生產, 先消費
- P' X9 @/ J0 k. c! \# T/ X* V而家就要多生產, 少消費