0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 L2 o8 T: r3 H! }1 l; ^2 S8 OWhy bank will sell 借據給第三者???
( y' Z6 c" O4 }1 ?I was so confused.....

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講到尾都係賺錢# y3 J. W8 \- P* Q9 u
so銀行可以不斷放款4 I- N6 E/ O, k0 ^5 c; z# l. [
美國的房貸問題散佈到全世界2 l# r; H$ I; E1 W  w
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mortgage loan 4 L. L2 Y+ ~' T# n  s
>conduit4 Y: h: E1 q% [) _, _* D3 W
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)! w  b' b% v! W" C9 e' r
最後去到投資者

Kev

i thought it is the reason of rate of return." }+ v! m2 G* |  c" K; _
CDs could have different ratings, AAA -> F,
* z$ B2 g0 }2 [# ~7 q5 gmore risky ones would have higher premium (interest rate) as a compensation for an investment.; V# x3 j1 X& }( Y5 {" Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 [- ^) L4 x; [, ^) |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* O" U% s( Z  M; g/ SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& L( P" O" N! j/ E
similar to bonds, CDs trading in the secondary market have different value at different times,
; ~0 E# H0 [! J. Inormally the value is calculated by adding it's principle and interest.
/ i# O7 x7 d5 W  _4 O+ K  ~% S* C8 leg. the value of the mortgage+the interests to be recieved in the future.
: L0 N  @2 K: h  N& Y. \5 @- [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./ N; g4 I, [" Q9 P* o: `# {
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im not quite sure if the multiplier effect does really matter in this case.
, A/ A7 b3 w8 ?) ain stock market, it's the demand and supply pushing the price up/downwards.
  r( k  r4 Z' A: iFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 ]& s8 X0 [$ E4 f5 w6 ?A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, v+ ~; ?* B7 ^" z- e4 L  w7 oThe 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. 1 E: N# [9 s# I0 S% g
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, E* @7 ~' p/ y+ V
Refer to last example,
* C5 ]' J, v% |7 d( W+ K# l; Gthat means bank A have no money because we borrow 10 dollars from bank A
# _  \+ u" `) s* `9 LBecause bank A doesnt have enough cash on hand   Z* |. k  D. \6 H( K2 z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
$ ^7 q) j8 Q, V& dso does it mean if E failed to pay D, $ ?) g0 C: V  ?' \9 c' y# O
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, - Q) e7 R: L. K6 D+ V0 ~% L
in this case it doesnt really matter how much money is created, + C  f+ Q" |% j/ A. i% u& m
it's the problem of the debt itself.1 ~7 E6 n8 N, _; ~5 P& X: 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" d) ]+ p/ N6 r  u  k
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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; G2 F$ `5 p" X# A3 z- v/ dThanks

" s0 r5 V* I+ J* v那些根本係 紙上財富  
# s5 g1 r( r- Y3 H, E5 M7 {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' a& A6 j* v5 f

, j& }  j1 d6 M2 ]4 t; m3 xhttp://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 B  j7 q( x0 D1 M當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 v9 C7 f1 a6 I# M  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7 Q+ u' t" O/ `) g' ]" ]
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦' A7 Q$ R/ Y9 G+ b  V/ K
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; n0 B  P9 }# V1 N  p$ p
計番回報率就已經係50%,所以可以好好賺
: s/ h- C& |- B, j1 w. K$ Z  k6 _2 U6 u前提係銀行之間要互相信任先可以咁樣借法0 z6 W4 o1 @5 ^& k! u5 I4 `
同埋個市場既前境要係好先得
; u6 e$ w+ {8 ~2 H但當經濟一差,公司估值趺了,物價不升反趺/ D4 `+ J9 Y3 k# ~
例如剛才說10蚊的, 趺到得番9蚊, 0 E1 c! u  e" C: g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  Q1 }) S' d: f1 z5 g所以你就會覺得D錢好似蒸發哂咁! o% V7 O; z$ I& o* ?9 D( |1 K! q& t% Z

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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, - v7 i- ?1 X8 D/ e1 r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& S; L* S7 Y: N) P  v1 \: v/ i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
: T) ^7 g& F2 V. @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
6 u  M, b! `, D2 F$ J0 a唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! J6 m/ D, B5 ?+ G% n3 |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 ^2 b' C( w; f, B  d
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
5 g; i) ~; Q. N% Q  g咁你話d錢蒸發左去邊? ...

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正係咁樣7 ~& A  \' P7 T  a. ?
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+ }2 v% H, _. Q: \, S' n. b5 G
分分鐘佢地唔使還錢
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& O( E& [) ^8 x& Z  @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,/ ~3 H% o# N# A' t: l# A% e  L% j
連國家都係問人借, 不停發債券, 印鈔票
& a* _  K5 S5 M9 _! S" A, S一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 M4 C! J$ _0 {$ k& ~# ~
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, _) H; E; h3 M+ D' z0 P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...2 o1 y5 L) _/ e, I" v
因為以前未生產, 先消費
3 `% A( S6 f: s9 a' P/ ?而家就要多生產, 少消費