0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 d) B3 O8 _/ }. tWhy bank will sell 借據給第三者???0 I3 ^+ Q; f: i. |
I was so confused.....

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講到尾都係賺錢" V9 f. H& z8 C7 w' s3 e
so銀行可以不斷放款" U+ z( t4 h6 i3 ]. {
美國的房貸問題散佈到全世界
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mortgage loan
+ [; f) k$ [* a5 F/ S/ ~>conduit
+ A: D/ z$ |/ ]0 y' J8 X/ M0 _>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
3 b; t( c, i* o7 C' w最後去到投資者

Kev

i thought it is the reason of rate of return.; ]" v" o. ?% {5 u. h
CDs could have different ratings, AAA -> F,2 s+ {5 o5 X& C9 a% V" S, e8 i
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 |& n. l. V6 l' M# y' e, S6 q% I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 l+ O  ^6 D' O& ~$ Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" v( w( ^3 K) e$ O$ gAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: ~6 ?! r, y  }! Zsimilar to bonds, CDs trading in the secondary market have different value at different times," {6 H' L1 }5 d$ B+ [5 R
normally the value is calculated by adding it's principle and interest. - z2 P, B# C5 ?1 ?+ n# B$ |
eg. the value of the mortgage+the interests to be recieved in the future.
9 b0 F$ z- m. J% p: w+ A$ E+ Mbanks 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.7 U- ?8 O- ^& j# U# h  J4 @

. P/ C, |# c- @' q4 Him not quite sure if the multiplier effect does really matter in this case.
; ^* y. ]* n- \& W( \. @# Iin stock market, it's the demand and supply pushing the price up/downwards.4 n! d) M2 U: p. l& t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# X. l. f+ b" I7 I( `, e
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- Y* O# L& E" g; g/ e; L9 {& [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.
  T! Z. L. Y( F4 r" N0 ]but the value of their assets did really drop significantly.
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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; M1 Z6 E: @! @; p# I- g8 t% X
Refer to last example,& ^5 M  O2 {) a5 e/ I
that means bank A have no money because we borrow 10 dollars from bank A
1 c6 Z6 i5 q/ `' x  d$ ABecause bank A doesnt have enough cash on hand
! n5 W. Z% j# L; o& }+ r' Dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ A7 }4 x5 L, p2 tA->B->C->D->E8 T) ~8 C! j  v" f+ J6 n# |. Z
so does it mean if E failed to pay D, ( y  Q# C- N. r& h6 R% `
all the B,C,D,E have to go bankrupt?4 i$ H9 ^: o; b' _+ \* X
; i7 W3 Q' W: j5 `

  n. O) I8 H) [$ u, Uthe multiplier just tell how much money created in a whole economy,
8 _6 t5 ~" g& C5 W/ E/ Qin this case it doesnt really matter how much money is created,
0 |" ~' d5 m& E% n% tit's the problem of the debt itself.
$ R, X' Q# f/ z; K* ]  Pthe 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' H: b# \. W& L+ J# R9 h+ O
小弟一直都唔明...
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! t! R, L/ B, y* U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...+ I! H: U& \( {& |+ {+ o2 R; d
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敬請各師兄解答) `6 B- _, g- `0 H; D
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Thanks

* K# G& [8 \: [- [' n* r那些根本係 紙上財富  " b6 c) ^& ]+ V8 x) 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 graphic6 }! F2 r7 S/ z) x- [) N9 p8 [4 B- ~

, e3 [) d% S( b0 I! I- M+ r3 Jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
1 u; t: J2 z* p3 o$ _# [當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: Y0 R) \: @" ]" E1 d" H* S, o5 ?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 V: i* A- Y2 k個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 N# p+ F' t* l! u$ K- }6 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ D  {) ]& I6 A( k6 Q3 V1 k
計番回報率就已經係50%,所以可以好好賺( N, B! o6 {. ]0 L/ I  E
前提係銀行之間要互相信任先可以咁樣借法
  O& ?1 `6 t. i( ^1 h6 M同埋個市場既前境要係好先得
" b5 `  s  h# n& B" v9 T但當經濟一差,公司估值趺了,物價不升反趺; B$ c) c0 x9 I- [
例如剛才說10蚊的, 趺到得番9蚊,
# ^0 t* f" e- p9 N$ }+ i$ [2 p5 i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 T6 v' L+ [9 o- m1 P2 f3 C所以你就會覺得D錢好似蒸發哂咁  R. j: X8 i! R3 ~% q* o6 f7 G

4 |- ?" U/ O2 d你都可以當標野咁諗, 個樣野多人可以狂升值, 4 Y; v) {5 S# A4 |; I$ E8 Z7 S
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, & m; U7 @- ], J& O; ^# y) _& e1 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " x. `& s1 |* m1 L' r2 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7 S: b+ D+ |' x& \! c* x* p' w! P
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) Q, M  n! j0 C
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * \+ p9 C3 J3 t- S
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; O& z* J% t0 `- N& I4 o* h
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
2 n  Y0 C, _* r5 P' [6 v2 H咁你話d錢蒸發左去邊? ...

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正係咁樣/ v' Q* a4 X- F
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
% E3 q! ^5 \4 D分分鐘佢地唔使還錢1 \* k4 C, e8 C! I6 V" d( g

$ o8 h( h* O" |1 S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,6 R9 }) L/ f) |. V& C5 }# n
連國家都係問人借, 不停發債券, 印鈔票
) l0 @0 ]- s+ e; W' h$ {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% G- Z( S' S6 m# ^2 G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
) ^" ]# o! y* I& B8 M% y# z咁而家"爆哂煲"算唔算先至係變番"正常"???

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' T. A( ]0 `+ M) @6 n. ^8 i其實係..., K! d, Z1 e$ V- c7 \+ G) s/ i
因為以前未生產, 先消費- D# P8 j- b* F# N+ O; c0 m! d
而家就要多生產, 少消費