0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% a0 w' Y/ ^. v6 X# C( W9 q( U8 uWhy bank will sell 借據給第三者???( U9 N- r4 z/ C9 f0 ^! _
I was so confused.....

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講到尾都係賺錢
1 p: T4 ^# _; o6 l2 sso銀行可以不斷放款
: X' x0 Y# T, c5 a. U+ |美國的房貸問題散佈到全世界1 F7 d% |0 H. \/ m* A; f# e( j, u! [
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mortgage loan 4 J) Z0 @! a4 @3 G, p2 O: ~
>conduit
4 K/ c, C* _" {# S  Y>RMBS(Residential Mortgage Backed Securities)
- ]7 ~9 A( M  i* g>arranger* _- ~. a5 C9 u( |
>CDO(Collateralized Debt Obligation)8 t7 H! b# ^/ \
最後去到投資者

Kev

i thought it is the reason of rate of return.  J: l( O3 f3 A+ ]' p: P
CDs could have different ratings, AAA -> F,9 o9 H+ ]% M3 `/ m- x# j! l
more risky ones would have higher premium (interest rate) as a compensation for an investment.
! Q0 S" i" _/ W( l# ~& jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 A4 z; Q' V' s
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 F6 _" l) `# P$ KAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( b- h3 |5 W/ C4 s' l
similar to bonds, CDs trading in the secondary market have different value at different times,% p4 n5 H3 d" m5 ^# k$ ?
normally the value is calculated by adding it's principle and interest.   n/ N2 Z  Z+ W3 |& c, }
eg. the value of the mortgage+the interests to be recieved in the future. 5 p  k' ]7 W3 {' o3 ~+ c5 `$ r
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., T5 _- [6 ^8 r% a3 t& L
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im not quite sure if the multiplier effect does really matter in this case.( k& l4 p. ]3 f" s7 n8 {4 A
in stock market, it's the demand and supply pushing the price up/downwards.: K2 L( w4 x8 W3 Y3 d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* Q/ y# N/ f% d. [8 u7 kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 j# W$ Z. V/ q5 {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 A+ a- q6 ]6 g: P- L
but the value of their assets did really drop significantly.; Z* I+ U& l! s( E
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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
3 W+ S4 u1 R& l7 s! lRefer to last example,
$ [& p' b, n4 r0 o3 u% s! e+ pthat means bank A have no money because we borrow 10 dollars from bank A
9 `4 c5 l; f& C7 JBecause bank A doesnt have enough cash on hand - @5 s* S* H9 w# D$ f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E2 C  {7 T, F9 t# c' `
so does it mean if E failed to pay D,
2 x8 R0 V8 R* s8 N, B4 P7 Rall the B,C,D,E have to go bankrupt?* u$ R1 Q) ?, P# P

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1 q5 H/ y8 O; j$ Nthe multiplier just tell how much money created in a whole economy, 3 X: t2 `# s3 D, ^. z
in this case it doesnt really matter how much money is created, $ Z" `3 Y# [: u
it's the problem of the debt itself.
( b- x: H* N" r4 s$ Kthe 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.gif1 _9 D* f- Z0 ?  |& ^. G5 y/ z5 q. [
小弟一直都唔明...# u" Z1 a- u& _4 d

% X/ |- o5 J0 v0 E$ S9 H全世界都蝕錢，咁邊個賺緊錢呢?
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) i+ Q( _. M$ \# g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

2 ~! ^2 h. u2 \6 {' Z那些根本係 紙上財富  
: m. v8 I% z" n) S6 @% R; t% l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
; _3 r' @3 V2 w- S$ I當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% W5 a! W' V: N
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( p% ^$ c. T( R) v6 K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
" ^" U1 _; C6 O( J: I4 F$ T4 Y& m/ m& K2 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," e  _, g% w) ?, |* Z8 ]# \
計番回報率就已經係50%,所以可以好好賺
( s) {  N' [3 ?) y$ S# Y8 v前提係銀行之間要互相信任先可以咁樣借法/ O! E& C  Q2 B4 s9 ^
同埋個市場既前境要係好先得
: m* T) |3 X  U7 A但當經濟一差,公司估值趺了,物價不升反趺0 j9 e) @: q/ }" V
例如剛才說10蚊的, 趺到得番9蚊, 0 a) s( r, L, w) K9 Y5 j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  S  a! Q, n) T' s所以你就會覺得D錢好似蒸發哂咁% n: s* T! f& G; o
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你都可以當標野咁諗, 個樣野多人可以狂升值, 1 i# m2 D/ c1 g3 ?2 p* I
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, # H. }3 u5 F7 h6 C. @
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) m0 J% Z9 W3 l3 X) d. 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& y, f4 s: _& l  ~- m' t
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; N9 a) O% b8 m7 l- T2 Q( h7 A
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 Z/ W5 [, H/ G% N/ Z7 y& |8 w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 M( r: a- A! e, A- L& 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+ Z( g5 R9 y0 ]: R6 j
咁你話d錢蒸發左去邊? ...

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正係咁樣' H0 N1 O8 ]9 o! }$ u3 B
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- A8 J! Q( z& j0 b0 X" _% z( V
分分鐘佢地唔使還錢5 ?. g3 W- n* Z, w
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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,- @/ Y* \$ Y' D( r$ i: U: i# O
連國家都係問人借, 不停發債券, 印鈔票
* l% U+ g4 \- D一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
  c- N4 F2 y! S& K4 p/ a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" a; z8 n8 C4 L& S% y
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ R' b, F' i7 j+ A. [1 q9 r" y6 o其實係...# s% T0 R* ^! {/ Y# s- o  o
因為以前未生產, 先消費
( `& O; A1 ]& ]+ t& r) n而家就要多生產, 少消費