0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 M& I; S3 v& L. w+ J$ AWhy bank will sell 借據給第三者???# E$ Y5 x, e- U
I was so confused.....

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- h: X# ~: A  C3 ^7 a" k講到尾都係賺錢# X* N* w4 Y' `3 _
so銀行可以不斷放款
2 [& a: O9 v  r: c6 H. B8 w美國的房貸問題散佈到全世界
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% }* g# i4 f+ g& ^- P2 Smortgage loan # A, _: A6 ], h
>conduit/ k. l- J7 D6 {: W
>RMBS(Residential Mortgage Backed Securities)! M  I& v1 S5 h- N
>arranger8 U* v+ C& ~. N5 M
>CDO(Collateralized Debt Obligation)
, p1 @! }+ j- ^最後去到投資者

Kev

i thought it is the reason of rate of return.+ Y& x3 Z. C3 X4 t
CDs could have different ratings, AAA -> F,
; R7 l: F' W  bmore risky ones would have higher premium (interest rate) as a compensation for an investment.
# T+ w% O" M) d  Nmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ C. k" V2 `" }+ Y5 b% G& d# z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 q% F5 U+ g9 r  e! |. Y+ s
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ A1 p# Z$ E0 Esimilar to bonds, CDs trading in the secondary market have different value at different times,
$ V5 p1 |% U7 G( \8 l) enormally the value is calculated by adding it's principle and interest.
' t& ?" r( n0 e2 `% P2 ~6 deg. the value of the mortgage+the interests to be recieved in the future.
8 m- i6 P& \+ k  p, w' C; \; Gbanks 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." c6 D5 @+ `& o6 d0 i. @

8 L" u2 s4 s. K3 P0 T5 ?  Kim not quite sure if the multiplier effect does really matter in this case.
# b# ?( n% w( E$ t+ h7 ]6 qin stock market, it's the demand and supply pushing the price up/downwards.
6 v% V# G$ T* g9 LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; E- t  f6 g( u) @! m
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 M, I) v/ u' Z$ m. h9 s  F
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. 4 G: h6 S: Z3 L( R7 S
but the value of their assets did really drop significantly.
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$ l* V/ O% @4 Z' M/ k[ 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
) c$ n9 J0 p' |Refer to last example," T" C& t" @( F
that means bank A have no money because we borrow 10 dollars from bank A
+ k/ b: S2 j1 \6 _+ V# T+ oBecause bank A doesnt have enough cash on hand + z' m& a5 H+ z& `) u/ \
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
/ O) F+ e& y, }  ^so does it mean if E failed to pay D, . I4 \5 {5 V) T  C
all the B,C,D,E have to go bankrupt?" I4 P4 G! |0 u0 r
1 b3 H( Y0 M, M3 K; F# C: F

. D! I0 i# j+ W' A9 Y5 F8 Athe multiplier just tell how much money created in a whole economy, " g) ]! u# o, ~
in this case it doesnt really matter how much money is created,
5 }* J8 {/ l( q# a' c& Sit's the problem of the debt itself.
9 P- L' a  E2 a% E7 Z4 o( z+ 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
! N4 K" t* u. n+ ^' B* y3 W小弟一直都唔明...
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1 I1 {1 a( e/ ?' `3 o; _* V全世界都蝕錢，咁邊個賺緊錢呢?6 `0 I+ G3 s) i( l/ n6 \$ E6 G! w
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無可能淨係有人蝕錢無人賺架嘛...9 p% f" }9 V8 J3 [& B
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敬請各師兄解答
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5 T% H9 v$ e3 t; _9 P7 DThanks

/ K8 ^( j# Y; l  M* F那些根本係 紙上財富  & O6 _3 Z& w& C' z" \
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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* C9 V% X: Q2 ?. A3 \5 {7 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$ N, J: J# i! i1 p4 O! M% [
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
2 x" V4 N1 V# J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3 R, f7 H$ `9 G( N9 J8 \: N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
) @4 [" f5 T" j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ ^2 |$ c& d* l) _9 p3 }) o# w: W4 o
計番回報率就已經係50%,所以可以好好賺7 [! x3 K, X* }9 u! X5 Y4 g
前提係銀行之間要互相信任先可以咁樣借法
! ?! y2 ?7 k  }" @3 i/ H同埋個市場既前境要係好先得- ~" J, \# ~3 k& d. j! \6 D
但當經濟一差,公司估值趺了,物價不升反趺
/ z6 e5 x/ V: u例如剛才說10蚊的, 趺到得番9蚊, # S3 m/ _8 _( {9 F( h. G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' q  p' R& d+ Y* X7 ^+ m/ r
所以你就會覺得D錢好似蒸發哂咁( Q+ D0 h8 y- z# x( U% e
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你都可以當標野咁諗, 個樣野多人可以狂升值, 9 Q" J, W, o* x/ I4 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,
( _9 f' L6 @" s8 e+ g/ V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 j3 C9 Z+ m+ N' b" 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
# w+ o& |* M# E7 ~) M2 K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" R3 h/ m6 t6 q% Y7 u
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( F$ p& `& O0 \: W) g淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 Q, W3 z5 X5 w& 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
+ E3 B% H! ?( s7 @0 v; @2 f咁你話d錢蒸發左去邊? ...

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正係咁樣. d/ R' a7 U+ Z& @; R; |% \
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9 A- ^, x. n, i$ i$ p6 Z1 x2 s
分分鐘佢地唔使還錢
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5 T7 t  f3 N" G3 `* o; 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,9 d' \5 S- @2 y
連國家都係問人借, 不停發債券, 印鈔票* J% ^6 I' u3 H5 g: u5 L
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' N4 k- K. g" }
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.gif1 }, P! k2 ?/ C/ D% X+ X, S0 I6 P
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...' y' n2 ]' m. b. a6 f2 c1 n0 G
因為以前未生產, 先消費
/ G! Q1 c0 Q2 `: Q而家就要多生產, 少消費