0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
& e$ D/ v+ a  KWhy bank will sell 借據給第三者???: I% L! K% E4 T# \9 _
I was so confused.....

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' F; v/ a( z# m. s4 [講到尾都係賺錢& y* \; j: r) r0 N# j( Z
so銀行可以不斷放款4 i4 m( a2 P! n6 z! q0 O  V
美國的房貸問題散佈到全世界
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0 M2 T# p, J; l  t$ |5 ?! B7 xmortgage loan
+ f$ {; O. ?4 A/ ]* `>conduit6 F7 k* n4 e- m+ ~  d6 @
>RMBS(Residential Mortgage Backed Securities)  {( y' B3 b3 F% N8 f
>arranger
! k1 e$ a1 [1 b4 B: H>CDO(Collateralized Debt Obligation)/ M9 Z) P5 h" p$ t& \
最後去到投資者

Kev

i thought it is the reason of rate of return.
4 L" y5 y) s! R1 e1 D: bCDs could have different ratings, AAA -> F,( V& X, `. W. x
more risky ones would have higher premium (interest rate) as a compensation for an investment.- B' n( ^4 `( ?: |; G! l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 P! i8 V9 v  W  r) M/ Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. h5 ^2 P1 W! J& u) M/ L' g) ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 J" }; l# K- s7 `) L: k
similar to bonds, CDs trading in the secondary market have different value at different times,& Y) Y2 B7 r# _* [. T& A8 e5 C: @. W; j
normally the value is calculated by adding it's principle and interest. 7 S1 ?9 ]$ {2 Y* x
eg. the value of the mortgage+the interests to be recieved in the future.
: s2 w+ x5 a# H  {" n4 {1 Zbanks 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.. S5 l; U( S% h# L/ E4 N
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im not quite sure if the multiplier effect does really matter in this case.
# g  L5 {( p& s7 B8 \* vin stock market, it's the demand and supply pushing the price up/downwards.8 I' r2 h. n$ A( @
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ {7 m/ J6 ]6 b8 R2 n
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) M4 \* s; K* W9 o9 F
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 l/ a3 n) q1 |- i( T. x. c5 V
but the value of their assets did really drop significantly.  k" n1 ?  P& P  k
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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$ i% h: t! j0 t" Z% M3 _+ q+ p
Refer to last example,
, Q6 W1 Z7 y/ h0 v5 }" ethat means bank A have no money because we borrow 10 dollars from bank A
: q$ o8 ?- M4 n, X. w" R! O$ ]Because bank A doesnt have enough cash on hand
" r. M/ q0 l$ i* |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" K5 B2 S+ i/ Xso does it mean if E failed to pay D, : \+ K  J( C- y+ c
all the B,C,D,E have to go bankrupt?# ?. u6 q' k% \+ o+ `9 m" F

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7 L7 R  N' f% Z/ hthe multiplier just tell how much money created in a whole economy,
0 I: @6 t0 X* D9 Nin this case it doesnt really matter how much money is created,
3 X7 n' p" Y! N0 `/ ^4 ^' Iit's the problem of the debt itself.
4 b' ~3 S! y- b  F4 uthe 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.gif5 ^5 `! J0 ]& Q7 c; h
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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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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. K9 f* C. E9 [4 bThanks

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那些根本係 紙上財富  
- H$ s6 T! T" @* I/ j5 t6 D9 D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/ p" d5 z3 u% r2 g1 P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 _7 W; K8 l1 D& a. W6 x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
/ b6 b0 a% S: m( i  }4 ]- L+ n個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 M4 n+ S7 |9 N, t1 y! g  R  N* ?扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 |" p5 Q9 Y* G/ U
計番回報率就已經係50%,所以可以好好賺
7 f* I% A: F1 t7 {前提係銀行之間要互相信任先可以咁樣借法7 Z% ~' X' ?5 S
同埋個市場既前境要係好先得
4 S! k  O) \( A% L4 H, n但當經濟一差,公司估值趺了,物價不升反趺
4 R' D, Z7 x* U例如剛才說10蚊的, 趺到得番9蚊,
. v$ `1 x, v3 w7 k% y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 n$ \5 t# v  p' Q: B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,
3 l5 B2 e- |% O) ]2 }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, . T2 H7 w4 ]4 p" Z( x% g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ U* r# X/ q( @/ a2 Z; G- G/ F* S1 y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
$ L+ l4 P' `: p, c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, P% T, n) c8 B' L$ s4 Y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& ^% e# v- n2 t6 v1 x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* s/ `; S/ s  v8 b  J; 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
+ D! l  J* v; y" f. I* I6 T咁你話d錢蒸發左去邊? ...

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正係咁樣  ]$ n/ r1 @' Y+ C, Y2 }
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+ A1 q! D4 G* J" {
分分鐘佢地唔使還錢
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2 e# f6 A$ s$ A( R4 q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,
* ~' V. E% {, R4 t. C7 Y6 E  M連國家都係問人借, 不停發債券, 印鈔票" s- \9 g( r2 [4 v- Y$ Y/ k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- Z8 W0 Z! Z: ?5 R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+ i6 U* x% r% ]5 O" N
咁而家"爆哂煲"算唔算先至係變番"正常"???

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# P8 v! B; [/ k3 S/ O0 v6 F其實係...7 W& N' l  Z* B" D/ E
因為以前未生產, 先消費; U. s; v$ u4 Q# O
而家就要多生產, 少消費