0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 Y: U% y3 c- J' Y, |Why bank will sell 借據給第三者???8 ^; O8 T" g) S' F( u" k( H6 Y
I was so confused.....

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  m( Q5 Y, J* E& ^$ |$ N$ v講到尾都係賺錢
4 M+ n1 q' R' F3 E# R0 ^4 mso銀行可以不斷放款
2 x7 b# n/ p3 }  `/ w美國的房貸問題散佈到全世界
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% q" `4 q5 ~$ @2 I9 M. I" Gmortgage loan
" o0 @3 J" v# }# z. v>conduit# H( y( l3 C% g9 V: l* ?6 R
>RMBS(Residential Mortgage Backed Securities)4 X4 _& n  o& N
>arranger+ F3 z$ ]7 e: Y
>CDO(Collateralized Debt Obligation)* R# ~9 `! k5 N# {1 K2 M! \
最後去到投資者

Kev

i thought it is the reason of rate of return.
: K: |- U# ]. d2 z( FCDs could have different ratings, AAA -> F,
& ?. T6 v& E' h+ O. Gmore risky ones would have higher premium (interest rate) as a compensation for an investment.
5 v! d, \% j9 {8 N) R4 Emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,9 i- D5 F( f  q
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.8 q6 V" q3 C4 o  v; H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 h+ B9 F5 Z* W7 h  t
similar to bonds, CDs trading in the secondary market have different value at different times,
  f1 W' J+ @- R' u. qnormally the value is calculated by adding it's principle and interest.
. s* E- F* S7 ~% P: Weg. the value of the mortgage+the interests to be recieved in the future.
+ [/ c1 D) o4 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.2 Y' Q3 m! ?: H/ r7 z1 R; i) V( u+ q

* A  i, ~8 w8 Rim not quite sure if the multiplier effect does really matter in this case.( T1 {0 V- t* v  N
in stock market, it's the demand and supply pushing the price up/downwards.# D$ \& u- F4 H9 E- B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 s1 v9 \8 Q0 F0 \0 Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ f* c0 I" Z# n' cThe 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. ' ]5 C5 U- }% L3 r6 E4 d) w
but the value of their assets did really drop significantly.
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4 H* G4 ]5 {' h$ |) w9 Y% U[ 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
: p9 u$ f1 r+ z' n0 O: URefer to last example,
- ]$ n4 f# x) @3 }that means bank A have no money because we borrow 10 dollars from bank A # N. h: Q6 z+ @2 v% @  {% g
Because bank A doesnt have enough cash on hand
" E+ @8 A: X+ {3 @3 ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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% q5 o  g$ J8 t7 bA->B->C->D->E! u2 S3 p4 t1 ~3 _2 s
so does it mean if E failed to pay D, 5 V% ^( y. x7 @! N
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,
- X, ?, K. p9 ~; [, bin this case it doesnt really matter how much money is created,
, B1 A+ t2 E& R* }1 x) e! t4 `% D% \/ oit's the problem of the debt itself.
; p& J5 G) l/ [0 f# k( dthe 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% k) C# s/ R" T* T* F$ f
小弟一直都唔明...& c$ P* `: j+ j% `$ t' @/ C, ]8 J. R% ]# C

7 T' P- A* b: ?! e4 ?全世界都蝕錢，咁邊個賺緊錢呢?" ~# u6 ]) L- [' ^0 r

* C3 D6 ~, H. H4 x) g9 V: S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  P- r6 U  N6 M3 K* T5 @

' j. K# o+ F7 n1 {Thanks

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那些根本係 紙上財富  - v) u9 G9 H" R; b! f
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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+ G' S& D, a8 g, r  b7 Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
* R" T  m* p7 Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& N9 S5 g8 ~1 Z+ c% P' x8 Y
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' R/ I# D. X. K5 B
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( E* p8 l6 U) U  s% x! ^) G8 h7 }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 s. T( W! C3 c4 V: T: K% g
計番回報率就已經係50%,所以可以好好賺
* M1 t* r: e2 r4 x. Q前提係銀行之間要互相信任先可以咁樣借法
1 K5 q3 |& N3 a; ?! r& Y; c同埋個市場既前境要係好先得: ~9 i# }- e4 i; v2 o! W, |
但當經濟一差,公司估值趺了,物價不升反趺) T( @4 v& S2 K. X1 a9 F( J3 y
例如剛才說10蚊的, 趺到得番9蚊, ) s# w  v* R$ G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 E+ [6 L, a9 |+ M" u9 i, u
所以你就會覺得D錢好似蒸發哂咁/ h8 D" D3 k0 G1 J2 Z* d9 o! T

+ G6 |$ i% o% A7 W# ~( _! `$ j2 x你都可以當標野咁諗, 個樣野多人可以狂升值,
+ `9 N4 n3 X% W) l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, 5 K! L" Z& a2 G( q. M; V8 [
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 C: @* A. X' T6 q0 w" \3 J3 |, ^
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 W3 m3 E+ m7 n4 G2 @- u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! e! k  h# m1 A
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 ]2 E- |3 Y0 f. h6 T; ?
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ s" Q, d5 w# h% L! U! E' n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3 q1 y) h0 J, w
咁你話d錢蒸發左去邊? ...

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1 ?7 q- c7 w1 B正係咁樣# t+ x9 d0 {! ~* E0 D& Q
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, @- m( ]: \$ l+ m; j# O
分分鐘佢地唔使還錢4 f2 V) O+ A/ G7 b; T
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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,1 T6 x! u1 e# B) m( n7 D6 j
連國家都係問人借, 不停發債券, 印鈔票& P: w& `* k0 A5 h" a
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 o# z; x# G$ w2 C$ y* |
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
8 u3 w7 V( t$ i/ J* R: ]+ z咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  C0 A1 L+ r- I
因為以前未生產, 先消費
" ^6 S9 b2 A0 d8 Y! I7 z而家就要多生產, 少消費