0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) r' ~' m7 r$ z0 t3 m4 _' ?# WWhy bank will sell 借據給第三者???
6 T$ P4 g* t# p4 z$ G# g4 Z! T$ D' CI was so confused.....

8 ]) A: p9 ~. E1 j0 d% e: K$ m
講到尾都係賺錢% O' c- H7 G+ p* J* R$ ^+ B) _
so銀行可以不斷放款# ?$ H9 Z. ^6 j% [6 D# V2 ~7 d
美國的房貸問題散佈到全世界0 v( q% `% _9 ]- H6 X  J3 c! |
  Q% o/ q5 T" \$ a6 ?' T
mortgage loan
+ Z- o* W% H" l3 A" P. m0 [9 u( o# m>conduit; k6 {  U9 L' q+ ~+ H& H5 o
>RMBS(Residential Mortgage Backed Securities)4 ]: M1 T* W: Y9 T# C
>arranger" {* ~9 k1 J3 V5 R  c8 K
>CDO(Collateralized Debt Obligation): O8 \  X/ ^0 \
最後去到投資者

Kev

i thought it is the reason of rate of return.) }- R: d9 G" |7 H2 t, N( |
CDs could have different ratings, AAA -> F,
) g& p% g& h0 }. @* L2 zmore risky ones would have higher premium (interest rate) as a compensation for an investment.4 e3 v2 Q0 y. k& y0 \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- I- W; T6 b3 Y3 Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: y8 A( \. c+ m9 ]6 B5 _) |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& _8 E6 f" T: ^" }' i+ n
similar to bonds, CDs trading in the secondary market have different value at different times,* [; ^! D+ s9 M6 r9 g; O
normally the value is calculated by adding it's principle and interest.
2 ]5 |; W$ H5 a8 p/ Y' Feg. the value of the mortgage+the interests to be recieved in the future. , M2 _. y8 }' l0 t$ Y6 ^3 l* U
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.% [+ ?' }  {' y# G8 z! Z$ k

) X1 f# P1 G8 {5 _3 e7 Lim not quite sure if the multiplier effect does really matter in this case.4 n1 G  X+ Z% r8 ]
in stock market, it's the demand and supply pushing the price up/downwards.) z* @  o" \, G5 K* Y" j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ I) s! s3 B9 ~# JA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% Z; d* P' D# ^$ H: 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. 4 S  B6 b; O( k* _8 l/ T! g
but the value of their assets did really drop significantly.
: J# r; I/ {% _, I; e/ G( k. Z. m& t8 U; _/ V& |7 S  F
[ 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& h/ [7 w8 p+ i5 a' Q' ~8 c" O2 H! y
Refer to last example,
7 n6 l/ y& r# Rthat means bank A have no money because we borrow 10 dollars from bank A
# M! R) V- W! u6 uBecause bank A doesnt have enough cash on hand ' K' x! w$ U! S3 W0 }) j6 Z% H$ y
therefore bank A need to be bankrrupt ??? Am I right ?? ...

. m/ m! S; w, W; ~8 u
" B2 ?5 m* ]* `; D' L; T- Q' J
+ i' Y4 R9 l( `9 `0 p& J) Z
A->B->C->D->E# C* k" ]" m5 \$ D  p
so does it mean if E failed to pay D, 4 u4 h6 z& J( S* ~8 Y
all the B,C,D,E have to go bankrupt?) @- t1 J/ S+ P# h
7 |6 Q7 t* ]& `

( c0 m: t& H* a$ G( tthe multiplier just tell how much money created in a whole economy, / W' T; y( ]( q3 w& t  Y- E
in this case it doesnt really matter how much money is created,
  t1 \/ F' q, ^it's the problem of the debt itself.
9 S" |8 @2 q& B1 cthe 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+ G  q8 r: @1 O6 n& A9 y. K3 p
小弟一直都唔明...$ j: A& v9 D- [+ X. L

6 o/ d2 j; E, f8 k! b# k全世界都蝕錢，咁邊個賺緊錢呢?+ Y; Q  n% A: `0 V( S8 f4 d

8 K$ u5 B, |% j# Q3 L0 y' {無可能淨係有人蝕錢無人賺架嘛...
% n- M* ]- @9 j. A# ]1 b
0 I; n6 J. g9 U% V( w敬請各師兄解答
6 n' ~2 o4 u$ `/ |7 `; m4 Q$ \0 _! e7 @2 k2 F6 K
Thanks

) R& s* g/ v, u8 F) l3 m  l那些根本係 紙上財富  
- T$ @1 k# [1 h4 b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$ s9 z( s) |9 v
* T! `& P) D1 N% C5 T6 M
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
; w2 S; I9 s9 v- m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
$ n/ k' T* W' y+ K1 H' ]# h3 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8 b6 H' e& K' B% c9 D. J1 w
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 i9 T; H' l$ G6 C( m0 K( Z% [2 p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 u% @8 [# @- t; q" V7 v; Q計番回報率就已經係50%,所以可以好好賺. P9 W! d3 `3 m6 r# [5 m  ^
前提係銀行之間要互相信任先可以咁樣借法
& h& b! q1 p5 U同埋個市場既前境要係好先得( e* `6 W4 A; M8 x2 B( r3 c5 u# L
但當經濟一差,公司估值趺了,物價不升反趺
5 {1 J  v# N; f4 y& S& b例如剛才說10蚊的, 趺到得番9蚊, ) F7 b4 N! R" ]8 ^* U4 o
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  ?( p( Z4 V" z9 n" M3 Q1 k; ^所以你就會覺得D錢好似蒸發哂咁
: Y2 {2 S& T6 G0 {0 b7 D" J5 c- j% C4 @- o3 [
你都可以當標野咁諗, 個樣野多人可以狂升值,
. S* d( F8 B  v; _* x( B" H6 C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, " a$ x* l# o: q! |% r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 v! }! Z  Q. 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
2 u" l" Z' w/ N7 o1 J3 f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
8 T2 `: P% A# l7 p0 }唔係d錢蒸發, 而係比美國佬洗晒未來錢,   l+ z0 C" J; X4 v$ F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& r1 l' q3 E5 e/ }% j( K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
0 {5 ]% q, W9 k4 v7 T& K, P咁你話d錢蒸發左去邊? ...

7 k) |4 g+ O! G3 t$ R
& ^1 K& ?. {* q9 ]  V0 X
正係咁樣1 J0 k# a6 ]/ {, {$ J
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/ u2 W. {9 p. R! B
分分鐘佢地唔使還錢
) k0 k0 f7 y4 U1 j3 T
9 `, x4 l0 v* p. V; P& 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,! ?6 F9 s' {  f. j
連國家都係問人借, 不停發債券, 印鈔票
) Y1 S$ r" q# `) S, ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
6 M- j3 [, ]9 [! F: |/ ]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
! J% V2 m! Z( `# M$ n8 b咁而家"爆哂煲"算唔算先至係變番"正常"???

( a" x3 G* w+ A: X  o- u8 j
4 N! m6 R3 b# ~4 @: J- u& s
其實係...6 r, z5 |2 B, G$ h; l; ?- B  g3 ]
因為以前未生產, 先消費
3 H8 c5 f- @  A. {而家就要多生產, 少消費