0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* r$ x% @, d8 z8 u4 A  t! ZWhy bank will sell 借據給第三者???
/ D# y& D: n) B7 d/ i  uI was so confused.....

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講到尾都係賺錢2 ^$ Z* {; j1 |4 j+ d
so銀行可以不斷放款1 I, Z8 q. R6 W+ [
美國的房貸問題散佈到全世界8 P0 x+ M& T+ C, D5 R9 Q7 ^8 _
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mortgage loan 2 ^! i5 X) j) \" N) G, t8 {& N
>conduit
8 j6 t" O  w& e8 A( y>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)  w! B- H# |% i+ I: d
最後去到投資者

Kev

i thought it is the reason of rate of return.
8 o3 e6 `1 _' n2 U0 j& l! TCDs could have different ratings, AAA -> F,
% A" J8 E$ m! E& ~+ U) h6 _; y) {# Kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
; W, w& p3 \" }- [! N/ V0 Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* @& H5 s9 A# f. @5 S7 s9 Z6 cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." u" F4 @! i$ p( O1 k
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 k/ Z8 x$ W( [: i: r- P. d( esimilar to bonds, CDs trading in the secondary market have different value at different times,3 g; G# b/ H2 C+ N# S7 I: b) K
normally the value is calculated by adding it's principle and interest. ) b: s8 I5 g3 K
eg. the value of the mortgage+the interests to be recieved in the future. / C( X6 k( `- D/ T8 {; k3 A; Y* 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.; W8 i. ?+ J3 Z- T6 P
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im not quite sure if the multiplier effect does really matter in this case.+ ]5 @8 G$ O- x3 a% K
in stock market, it's the demand and supply pushing the price up/downwards.
) [/ }# B9 P+ r0 QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 ~- Z/ W3 r$ P3 u: ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
0 M; v  O! p  H* JThe 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.   Y6 Y' ?: _! u4 ]5 F  B' Q" b0 R
but the value of their assets did really drop significantly.- v& C9 }3 z7 L6 o* J7 W* ~4 B$ Q. O; [
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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
& e- u* u: F# U2 t6 P5 V: ^Refer to last example,, M7 C0 y9 i& D
that means bank A have no money because we borrow 10 dollars from bank A : m( G# S+ T. P, I: Y3 R5 @* b
Because bank A doesnt have enough cash on hand & t; d3 c7 D- I- h6 X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ v& _  E! ]4 xA->B->C->D->E
- h1 Z; W* j; H/ M. u9 Oso does it mean if E failed to pay D, ; T" q( v. [+ c) ^$ M* [; i
all the B,C,D,E have to go bankrupt?
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! E1 B4 x  t3 a. F, ]4 q! `, n# z9 Ythe multiplier just tell how much money created in a whole economy,
4 C! I) O8 z* j. u. X+ ?in this case it doesnt really matter how much money is created,
* y6 ]/ R* A5 z' e! v; x. y6 F5 Fit's the problem of the debt itself.$ ?/ v8 \1 W+ {- q& N% V" t
the 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
1 Y2 X& `% K4 ~; B  |% P$ N8 i; B小弟一直都唔明...9 y& |0 v7 u# p

# c  \' [. ]$ @  c% k4 e! U2 K7 h$ g全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...$ O$ J1 ~6 a+ k( @( V
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敬請各師兄解答/ p2 z3 M7 Z* r

( z6 x8 K$ q' G8 z0 }/ @& Z4 UThanks

: ?$ K, c/ D) v% u那些根本係 紙上財富  
/ {  [( W; c6 Y- d$ e9 |" Y6 ?4 m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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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
7 q* H% P; b* p2 }3 E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& Q" h  M6 {& E' A: V/ g  q2 ~- {5 A0 {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
* N3 R4 E/ C: \" p+ J, O3 u3 c個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, ?# V$ H9 G9 J* r& O9 x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 h, n  ?. W' P- M* t, o
計番回報率就已經係50%,所以可以好好賺
2 Y  T" _; g, C8 z- [前提係銀行之間要互相信任先可以咁樣借法
, f& o; G' t/ D2 F同埋個市場既前境要係好先得
( o" J: z4 I" U% A7 q$ \但當經濟一差,公司估值趺了,物價不升反趺
0 z5 S, @$ k& x. S! \4 j例如剛才說10蚊的, 趺到得番9蚊,
& {: [! u/ f6 W咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ F4 g! S9 e% |$ Z9 d
所以你就會覺得D錢好似蒸發哂咁4 O% y( E) m5 N0 w3 S* B

4 f2 o# z: D4 E. `0 t你都可以當標野咁諗, 個樣野多人可以狂升值, ' p" B; a- V, d1 j# J
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,
7 b* p0 h- A' C# l% c5 F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 v3 g# z* d0 t+ Y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 T; S9 G" l/ m: I/ w) h6 `; 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
4 g: n3 r+ e4 ?: |' k唔係d錢蒸發, 而係比美國佬洗晒未來錢, , i- I3 |" J; q( L) b
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 U; X" {" D8 y) z9 b- h2 a" ?+ M; [
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
7 F0 u) f8 j* O' a咁你話d錢蒸發左去邊? ...

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正係咁樣
9 ^' r; r  [$ l! b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6 i  Q3 e( G1 D8 a9 K6 T$ V3 `
分分鐘佢地唔使還錢
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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,, a! f/ J. }+ |  o
連國家都係問人借, 不停發債券, 印鈔票, G9 ?) Q. `5 a( A2 g* N4 r* S* S7 b
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 O& l- B- x& ]) k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
9 y& j# q" K) g# J2 H: s1 H咁而家"爆哂煲"算唔算先至係變番"正常"???

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- D& u  n4 ]4 \8 z* c$ R, c( ?6 E其實係...1 @: I& |7 G6 b  i( p& i
因為以前未生產, 先消費; Q% h/ s% [1 S* m
而家就要多生產, 少消費