0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# ^3 {, p0 i# r: i* L4 lWhy bank will sell 借據給第三者???
1 I, F. u8 @& y  |I was so confused.....

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- \( e( n1 @+ P/ t+ H講到尾都係賺錢1 g% s/ W! u# a* g! n& u  s& J
so銀行可以不斷放款
  v4 H7 R# i* w; L" {, T2 Y美國的房貸問題散佈到全世界
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mortgage loan , T/ V, F6 B/ v5 H
>conduit/ u$ D$ b7 z& U# O- w
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
2 @/ m) Q1 u; E% ^# G最後去到投資者

Kev

i thought it is the reason of rate of return.
9 ]7 Y; H6 I3 T( P2 ~4 fCDs could have different ratings, AAA -> F,2 Q$ F3 i( g! ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 h$ w2 }3 ?0 G& pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. T5 w6 v' v$ Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 V! S8 @% W, q! K7 {  a2 f- [' s& GAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; S" K; ^! D! d0 v3 n/ `( a: i
similar to bonds, CDs trading in the secondary market have different value at different times,5 O& g% u( I& X2 y
normally the value is calculated by adding it's principle and interest.
4 B* G  p, M' G2 R7 d- F) Ueg. the value of the mortgage+the interests to be recieved in the future. % [" v) n6 }% _0 o5 E4 K% p
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.- U$ w5 T  ~0 i% ^
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im not quite sure if the multiplier effect does really matter in this case.
$ M; L, _" z/ @9 ~& Win stock market, it's the demand and supply pushing the price up/downwards., `2 c- F; D8 v
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
' B6 S  S3 I: n' [! X; a& S4 ~* MA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# Z" p% b' T( W0 ?
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. + L: \" R. T0 m% ]- \& R, j' G* }' O
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
8 U" N/ \+ `+ }  ORefer to last example,# e8 x$ e/ }. `3 T5 b! z
that means bank A have no money because we borrow 10 dollars from bank A
9 \4 B: j- ?  w0 V, s( _Because bank A doesnt have enough cash on hand + t- l  j- M# i4 o* Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 i5 ?7 F5 F$ I9 v$ |
so does it mean if E failed to pay D,
) A) u, {  F0 h9 `5 mall 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,
# M4 N4 p/ @! `" `in this case it doesnt really matter how much money is created, ( a9 U3 `2 }, k0 j; l! A3 S
it's the problem of the debt itself.
2 V/ |3 j/ f5 r+ y- t6 H; Gthe 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
! l' |2 [% L/ {! @" {5 b小弟一直都唔明...* s6 Q" |# o! z9 n! r% S
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全世界都蝕錢，咁邊個賺緊錢呢?* }- q3 L1 g" X
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無可能淨係有人蝕錢無人賺架嘛...& @" n; q" C- {! @5 U4 L) \
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敬請各師兄解答
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0 b0 ?+ w' q* P/ tThanks

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那些根本係 紙上財富  1 `  d# ?# C) ]8 p( t. s
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* h! h# t' D% _
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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
$ @8 Y, ^" c/ o" i當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- x5 E& E9 s5 r" s  @5 T8 q+ w+ o8 }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5 b5 Z, D1 F" {, R4 ?4 l* o1 n
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 U& [2 O* c' f: T
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 Y5 q, X2 E; Q6 R
計番回報率就已經係50%,所以可以好好賺1 [- z: t4 a, }5 E+ F! w. P
前提係銀行之間要互相信任先可以咁樣借法6 D$ ^* A: n; V+ ?. I
同埋個市場既前境要係好先得
/ j- I. K' \! x" c- m( q但當經濟一差,公司估值趺了,物價不升反趺
/ M- A& h9 q5 t* C! f+ S例如剛才說10蚊的, 趺到得番9蚊, % l2 r0 U6 s( T2 C( F% u
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  T' ?4 D3 o5 C& r所以你就會覺得D錢好似蒸發哂咁8 X3 V: Y% Q7 y' c! n% E. J

! e3 C. q8 c' Y2 U  v" S8 v你都可以當標野咁諗, 個樣野多人可以狂升值,
1 F+ d  D% b; A- F% F6 B: q1 r3 ]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, 8 g1 W, r7 G$ o( c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 \! p7 S2 ~! D4 C
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' a  p1 y) J, N& y- L! X  e
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$ z" i$ F" H- ^3 r- w6 ~7 k9 q
唔係d錢蒸發, 而係比美國佬洗晒未來錢, * q5 C2 P4 V4 n4 _4 I1 f: `3 r+ {; O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " x  U# c" v: M, S- @4 q
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 [0 |1 K8 \+ R. d* s
咁你話d錢蒸發左去邊? ...

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正係咁樣. s. y! Q4 n! }: t% u, r' P
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
1 V2 J+ Q! `  Y分分鐘佢地唔使還錢: S, d1 d; F. ~. f4 B& x9 O- A
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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,' D+ Y4 b' k; e+ ]+ S$ X. v( f1 R
連國家都係問人借, 不停發債券, 印鈔票$ P/ x' x1 M0 @+ R* J4 X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- A( g( W1 }+ z6 ^
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.gif4 n$ G! B  H8 C5 Z+ t: L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
7 L/ G+ d, |( a% C因為以前未生產, 先消費  }* b4 t0 _4 A& r  C
而家就要多生產, 少消費