0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif$ J- r& ^* D3 h* j: C* J, B
Why bank will sell 借據給第三者???
7 e0 b/ R/ i8 M) c6 kI was so confused.....

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/ A: ^. e* m- K講到尾都係賺錢; g9 C, U& D7 T0 q8 |0 V0 y* @
so銀行可以不斷放款
4 _3 j3 H# i/ e/ _美國的房貸問題散佈到全世界9 ~9 U3 l0 F5 k

+ ~& T% C! X# D# ?9 P4 G% xmortgage loan
% Z8 K9 ?& B+ V9 K' e% @>conduit0 W# X. T9 D- W! q" @* K8 z0 B
>RMBS(Residential Mortgage Backed Securities)
- X; U: l  y! O6 e& }>arranger3 F2 N1 R# f" q% ~0 R
>CDO(Collateralized Debt Obligation)  |3 k1 A- w! R, f/ u$ c
最後去到投資者

Kev

i thought it is the reason of rate of return.; k9 a, k6 o8 `8 {4 u7 j8 P1 i
CDs could have different ratings, AAA -> F,
7 s" \( Y2 Y; X; x. {6 bmore risky ones would have higher premium (interest rate) as a compensation for an investment.1 ^5 R) ]7 m" j; G2 f
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  j0 ~/ [) t/ E! ]! k  `) p  Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 }% T1 h0 S1 q: P' T* iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& {0 I" w' [+ l% v" C- @8 u2 j! A- z2 esimilar to bonds, CDs trading in the secondary market have different value at different times,
- C7 J) d3 h/ D; n9 ^; m: R6 nnormally the value is calculated by adding it's principle and interest. 4 \/ P) \* |2 B+ j
eg. the value of the mortgage+the interests to be recieved in the future.
4 g4 b- D2 e" R) S: s8 Kbanks 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.4 _* m% s! m# @

/ z2 ^5 D: z6 i; j6 Iim not quite sure if the multiplier effect does really matter in this case.; A: ?* ]  i2 K9 p
in stock market, it's the demand and supply pushing the price up/downwards.
% M; _* y  H8 I! c. pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 I) w8 B- S5 N3 Y
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& N2 u, i! f6 k$ _- n% \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.
! q5 e; }, |! A0 U* vbut the value of their assets did really drop significantly.
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7 T$ N$ |; ?' f: @! G: q0 j" O[ 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
$ }; n! T7 l. N" t. qRefer to last example,6 e& \9 ?: i  J$ Q" W# o3 c
that means bank A have no money because we borrow 10 dollars from bank A
; N+ S: r: z# B9 n# f1 |7 o  JBecause bank A doesnt have enough cash on hand
& R% c, J7 J( D& v) m4 Htherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E$ m) C. b3 b9 s' f( s2 b5 {; l
so does it mean if E failed to pay D, 6 c, x* G$ T4 Z( A0 |
all the B,C,D,E have to go bankrupt?
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' n" U! P5 x8 Y6 r& n4 pthe multiplier just tell how much money created in a whole economy, * w0 W. Q; U; C! @
in this case it doesnt really matter how much money is created, & p$ V' ^' B* ~& r. `% L
it's the problem of the debt itself.; H* }8 y0 L- ]' _
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
, i0 _: C  b" N' X$ y; f" |0 V小弟一直都唔明...1 C9 x; B. `* A+ Y* y
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全世界都蝕錢，咁邊個賺緊錢呢?4 X" ?' h+ g4 _* m" `3 a, A

# ~$ L7 s4 ]; J6 b* Y$ N/ E無可能淨係有人蝕錢無人賺架嘛...! h9 S: b& o# X

2 C* r! n4 T5 p* F( J" Q1 p# o" g% L$ \敬請各師兄解答
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' ?/ D* v2 x" RThanks

2 w9 a6 ]; X0 M/ B3 l; q/ J那些根本係 紙上財富  
( @( q3 x7 W$ r; T# u/ @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  U3 ]4 u8 q" r5 {
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 R4 ~: d+ k: U" w
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8 X: {$ n9 z8 b- h% t1 W
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
* L' `8 H8 d) Z- u6 s5 ]5 O( B扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 z  D/ v, Q5 r# j& \8 H% E
計番回報率就已經係50%,所以可以好好賺+ U& a1 w) y: Q/ d8 N
前提係銀行之間要互相信任先可以咁樣借法/ V  ?( r7 t. g1 |& n' \$ H
同埋個市場既前境要係好先得0 I/ C3 o  p* b) M3 e% Y8 `
但當經濟一差,公司估值趺了,物價不升反趺
" {% d: `4 R) `! f% c/ q7 P: l例如剛才說10蚊的, 趺到得番9蚊,
9 z- N3 Z5 A% f6 V+ m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% G9 l# [, Z* d, x$ Q所以你就會覺得D錢好似蒸發哂咁
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% b9 I/ @. W( l* Y你都可以當標野咁諗, 個樣野多人可以狂升值, 1 |5 u4 \# R4 S6 M# a+ r! O" Q
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,
$ a( T4 c9 }2 y' M2 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 B4 l7 _7 F* w
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
; C' K6 N6 I, g* |7 P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. [$ x" |  J& U# }! a9 B) q0 i
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
" e$ p- n6 T0 z% Z; N) Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' z2 O0 W# n/ t1 y: _! 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6 n7 }0 F! X  o0 A0 z, h% {
咁你話d錢蒸發左去邊? ...

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3 V" \3 |7 w( q2 G3 M6 W. j正係咁樣
2 L* {/ z) _$ S+ Q6 X  A/ U  a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* o) W1 J* s6 M/ d# ~3 u$ g
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,
( x8 D6 z" o% `  B連國家都係問人借, 不停發債券, 印鈔票3 A9 [0 C# r( @2 t7 X; s8 s  u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! `. }4 C; @( s5 y
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, X0 L4 X$ L# t# q+ G' h
咁而家"爆哂煲"算唔算先至係變番"正常"???

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2 w$ V# a2 N  O, C$ W. @1 K- g其實係...8 Y# F! i2 f) ?, e4 z' X
因為以前未生產, 先消費
$ b& |$ G! q/ a( l! J而家就要多生產, 少消費