0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 y  o: a5 H: g' H; aWhy bank will sell 借據給第三者???
8 L; q4 ^% C# ^6 p( [I was so confused.....

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7 w" `; m) F. P9 o, }2 T講到尾都係賺錢8 o! J) m' ?0 I1 U7 s$ f
so銀行可以不斷放款+ B  ?0 A$ X: u" F1 V* O4 h
美國的房貸問題散佈到全世界7 \  X1 ^; N* }& b* Q! ?
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mortgage loan & K* O& C* |' e4 |
>conduit* @- c+ G' x! j1 {8 v# x* x% W/ f4 M# |
>RMBS(Residential Mortgage Backed Securities)
; K: v" u/ K( ^, y$ w# I4 ]" |2 d>arranger3 n$ c* v3 g* [& Y  R+ h
>CDO(Collateralized Debt Obligation)
# ?+ u3 [, z. X5 d* @' i& D最後去到投資者

Kev

i thought it is the reason of rate of return.
4 }1 P; S3 j* }6 l* jCDs could have different ratings, AAA -> F,
8 U1 w  l$ R2 A5 ~* Xmore risky ones would have higher premium (interest rate) as a compensation for an investment.' n8 t0 p/ J6 E- ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 z; |3 \" V- x- L( D% Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# z# ^# v( d* |" |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 ]. W4 C. N" p* }! @5 K) Tsimilar to bonds, CDs trading in the secondary market have different value at different times,
2 w% }9 M& T/ B: }, u1 wnormally the value is calculated by adding it's principle and interest. 1 B3 w- u  i' I0 ?' K
eg. the value of the mortgage+the interests to be recieved in the future. ! [8 m5 Y% W; o9 s. f6 J! }! y2 L
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.
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. D, V* r, e$ A9 @im not quite sure if the multiplier effect does really matter in this case.
4 i4 M6 L7 R/ s! `& w$ ^) gin stock market, it's the demand and supply pushing the price up/downwards.
8 a, |# W, `# ^6 |* VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 F5 K7 J( |1 i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. p2 U3 |' A3 Y' z3 u; P' Q9 K8 {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. * |+ w: [4 i# C
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
1 D8 p6 L: V5 lRefer to last example,' {3 T: z3 ?! V) H  L% O2 x
that means bank A have no money because we borrow 10 dollars from bank A
% _  v+ R3 m* ^8 Y, Q  V# FBecause bank A doesnt have enough cash on hand
+ ^8 {; K% K& M2 A  U4 Qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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6 S* f+ v% Z' T8 l: `9 u* G; D; t& S2 f3 ~0 p9 Q: F
A->B->C->D->E
* L$ k2 B3 Q" G  r6 P: s7 xso does it mean if E failed to pay D,
0 F$ H% w5 [! n# {all the B,C,D,E have to go bankrupt?
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2 L6 x2 u& {8 p) t
the multiplier just tell how much money created in a whole economy, 7 f$ _9 e! t+ x$ {$ Q0 u8 |; Z; y
in this case it doesnt really matter how much money is created,
. a. e9 U1 w, u' m. ]it's the problem of the debt itself.
4 w9 d- p# f' q6 b+ Rthe 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
. [& y/ d- Z6 N& C) I4 }小弟一直都唔明...% H- B; d! B% Q1 w5 p5 c$ o" U7 U
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全世界都蝕錢，咁邊個賺緊錢呢?# v, J: W" r1 g6 N/ e* k9 ]

9 F) v1 o4 X, z4 F+ m1 k無可能淨係有人蝕錢無人賺架嘛...
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. E7 p7 d7 `6 s/ `2 _- L6 P敬請各師兄解答# Y3 J$ i1 R, t& j; V
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Thanks

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那些根本係 紙上財富  
6 z# R. }& b( w$ ~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 graphic4 g$ H; v; M" i, T) x: `% i0 ?. [

0 i9 N! w6 `: F, F. V- n- 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( A$ N: n: d$ Q& {4 H/ k6 h0 n' s
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  ]$ x# p5 I! g- u8 f. n- D2 i4 k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
/ n# v- ~: n& L% X" h個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) ]' k8 {2 v, s# \  g3 t! h1 u! V
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 I# q" |7 b6 [! n5 u
計番回報率就已經係50%,所以可以好好賺4 Y% x! E: ~+ e; m3 t! Y
前提係銀行之間要互相信任先可以咁樣借法# b7 |! i+ V, f% L
同埋個市場既前境要係好先得
  t3 X- s, a8 A; c3 P3 p但當經濟一差,公司估值趺了,物價不升反趺0 N! Q* @( U- H: c$ I1 M5 L0 I
例如剛才說10蚊的, 趺到得番9蚊, , @8 V$ `. P+ K5 @
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 P( j9 p9 S/ k$ T$ H  U
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,
: K. Y! u& U& n; X" M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,
, g7 ?9 b# n8 ^& L( W# N5 r3 x  }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 m- S7 J5 [0 Y4 D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 ]% {' m  c) @4 `4 Q3 w2 Z: R$ A9 `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
& V9 y. J# _2 x( O8 A7 f唔係d錢蒸發, 而係比美國佬洗晒未來錢,
9 X3 I  X) T: ]: p' E淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 R, c% A% F. h4 k6 h1 R6 A: {
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
+ ^) h. }3 {1 {" ^咁你話d錢蒸發左去邊? ...

9 ^( ~4 x; ^7 c. _# W. r: [6 M7 U7 q; l. {6 Q
正係咁樣
* ~1 R1 }' S$ 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
2 d! r3 Y! E4 ?0 z1 }2 r% T% ]分分鐘佢地唔使還錢8 a! m2 r8 O1 L/ _- P
( i$ |$ d$ P' L: h4 r" i) }
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,
3 |& g$ u! a/ @; M; A: `! l3 Y連國家都係問人借, 不停發債券, 印鈔票
+ C9 P5 G" E+ r  c) I# O+ Z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產$ X& i& ^4 E5 d- c; J
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
6 H' }2 C8 i) _% l9 y咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
9 L) N+ g3 S& A+ C因為以前未生產, 先消費
& X8 y9 R4 N; f) j而家就要多生產, 少消費