0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif7 M. {. c, K) q. ]. V# ^
Why bank will sell 借據給第三者???6 N# a% X; L5 I" [
I was so confused.....

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講到尾都係賺錢4 d) q. @2 x: e& `- p& ]  M3 f
so銀行可以不斷放款
" _0 x6 d9 ^9 _1 m3 U4 U& m% X美國的房貸問題散佈到全世界
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mortgage loan ) H0 ^& r- l  r# r
>conduit
  P: r/ Y( s7 ]0 X1 s>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation); [  U/ d7 x4 h. ?2 P7 v2 ^7 y
最後去到投資者

Kev

i thought it is the reason of rate of return.4 B5 {4 H% ]- X
CDs could have different ratings, AAA -> F,
4 [2 V& K% W3 x( dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
+ _% W8 R" F9 e8 o+ N% ~, bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# \+ n/ s- o5 A4 A4 }7 `) f& X3 ^
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 w2 q0 d( Y4 h. DAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' H5 c/ q/ s2 J$ |  }8 r
similar to bonds, CDs trading in the secondary market have different value at different times,- [5 |2 F% E" z5 d6 i
normally the value is calculated by adding it's principle and interest.
$ R: j; o$ l* }' @- X5 _  t1 Keg. the value of the mortgage+the interests to be recieved in the future. ! D. }! U% |0 j& x- Y/ c* F
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.; q- z+ q+ M* E; k5 \6 U; `* y3 ]& F
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im not quite sure if the multiplier effect does really matter in this case.3 j  s2 O* u/ L* \- |8 d
in stock market, it's the demand and supply pushing the price up/downwards.
5 k1 i/ S1 j  K* z& x; JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) `8 {; o% z% k
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ y" o7 M1 H' m/ k: @& `1 u8 dThe 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. , x0 R5 E- q9 b" S8 T. ]7 E
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
# w  e8 m& m1 O! qRefer to last example,, |1 Z6 x* o: F3 j( o+ G' i/ V, ^3 y
that means bank A have no money because we borrow 10 dollars from bank A
. I0 q" h; Y, q3 a+ i5 I+ _Because bank A doesnt have enough cash on hand
: ]' t0 Z0 P9 |therefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 {: S+ e. d( }A->B->C->D->E
3 ]; f$ {' {5 l; y, h% lso does it mean if E failed to pay D, 3 ?+ w# T( D* S3 h7 {
all the B,C,D,E have to go bankrupt?8 C/ H. ^: G9 k9 Y) L

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" P0 s% F6 \5 c  Nthe multiplier just tell how much money created in a whole economy, , c  l/ h- y* L8 [$ B! s& L( R
in this case it doesnt really matter how much money is created, ) {  W, P- f1 L( \) B
it's the problem of the debt itself.
+ Y& ?5 O$ u1 i9 N1 e, ^. D+ V( Vthe 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
" w* L& h" B1 z1 e5 s小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?1 t: |* K! S. {- b) f

9 M2 F, X" G* F4 s7 J無可能淨係有人蝕錢無人賺架嘛...7 ~; a. o5 c% j( J2 ]9 \* e

. Z% E, O, d7 z/ [$ m3 S$ c敬請各師兄解答
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Thanks

% O3 }( T0 Z& l5 T2 W/ P那些根本係 紙上財富  
- D( ?5 w1 c) n3 K* R1 @3 q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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4 b: O. F$ q) b) g/ z  D9 H: v) Ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產6 l& C6 x4 p3 j$ k
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% u1 {" l% p( z4 S8 C0 T6 ^: |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
! y: {. Q0 u7 j: `* U2 ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 q4 C5 L. v" U6 B4 x7 i& M扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,& Y& W& r* z/ P
計番回報率就已經係50%,所以可以好好賺
7 G6 I$ r$ d$ f* W* b, u4 h前提係銀行之間要互相信任先可以咁樣借法
; Z- K7 X% L0 ]" n4 d$ M同埋個市場既前境要係好先得
2 Y; Y$ E/ t  q3 E但當經濟一差,公司估值趺了,物價不升反趺& ]( U+ l0 J7 ^, q% q2 t* o9 [
例如剛才說10蚊的, 趺到得番9蚊,
% ^9 Z7 e: P5 Z+ ~  b" a& @: k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& w  U4 Q8 X6 M! Y8 `- G
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,
# ^8 [5 Q2 u) z* D7 `4 o1 G# o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,
  D$ k6 M. D  m' m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + A- L- H# K8 z
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
* k, i+ @1 N: a: [( J) ~# m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; O. X& @  \6 v
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 _, h, u% P7 r! @, U: A0 W1 L淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 T  z+ a6 [) H* E4 W' n: {' G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$ s; I4 G" A8 S/ Y. |  P
咁你話d錢蒸發左去邊? ...

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1 n! w" Q, o& t% c3 I正係咁樣- i" t+ e. O% E
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! S" s: q; e- h# S# U, N
分分鐘佢地唔使還錢
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/ r) H; w& h, D. o" \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,
4 x& I7 O( }! S/ t$ N/ Z: S連國家都係問人借, 不停發債券, 印鈔票: n& H" s5 ]3 v* V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ t$ n, n/ x. ~. X: i: p4 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.gif9 k+ T' L, E) B- ?( s! \( ]  {3 o
咁而家"爆哂煲"算唔算先至係變番"正常"???

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因為以前未生產, 先消費4 [+ Z3 X6 C4 M) q& v' N' V- o3 v9 _
而家就要多生產, 少消費