0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 `; U4 \) h: h0 NWhy bank will sell 借據給第三者???
7 R* X4 _) Y  I: R! t/ [& d) w/ r- NI was so confused.....

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講到尾都係賺錢
; p' W9 \2 B  l) }) r7 l6 uso銀行可以不斷放款
- z7 i! P& e& O8 n4 e' B美國的房貸問題散佈到全世界7 l9 M  W4 K9 B* o6 X
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mortgage loan
; _8 _; ?! T4 _8 [& I* ^* P3 Z>conduit2 f6 V- q4 M1 b5 S0 |4 A: ]( N
>RMBS(Residential Mortgage Backed Securities)
* }; Z8 ~( M( g; e5 e8 t+ _* e: E>arranger
1 a1 i, O# V, R! W>CDO(Collateralized Debt Obligation)
( v: O# }( F8 {( V- c2 u最後去到投資者

Kev

i thought it is the reason of rate of return.1 B# t: |! W: s( p
CDs could have different ratings, AAA -> F,
1 u% C( p2 d, M4 n: }$ v1 smore risky ones would have higher premium (interest rate) as a compensation for an investment.
7 B( Z. ?  @. \. M3 r1 d, I8 Kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 d) h: C8 I1 ?- c1 pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 e( [% w) P7 {4 ?& G# @) dAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
* I! ~# b+ e$ W6 Q: rsimilar to bonds, CDs trading in the secondary market have different value at different times,. G5 _8 Y$ G$ p/ C- G
normally the value is calculated by adding it's principle and interest. / J5 B: w5 \- D' s5 P
eg. the value of the mortgage+the interests to be recieved in the future.
- k# h2 |% P0 s  g* T% l# X  abanks 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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' f& @2 f& P/ J8 F8 S! cim not quite sure if the multiplier effect does really matter in this case., D' n0 P3 @( p" ~3 B* \
in stock market, it's the demand and supply pushing the price up/downwards.' ~/ e9 q+ u7 e9 x9 w+ Z3 N& J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 ^& F2 }& r: U3 N9 \A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 E4 @" B2 @$ u
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. 0 J1 @  s( f0 O% [
but the value of their assets did really drop significantly.& X& a# T. |" w! @- x9 H+ [; y
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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
+ `$ F. R  S0 X3 t& \0 S+ }Refer to last example,
- }! A2 [+ m/ e/ [that means bank A have no money because we borrow 10 dollars from bank A
+ n/ n, G4 P4 y" w: Z( l5 g; K' yBecause bank A doesnt have enough cash on hand
+ ]' x: e8 ?- _9 a  h6 e# q: ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
! K( T8 w: p: b1 [8 Z$ y9 Cso does it mean if E failed to pay D, 8 P0 h. i9 R' V6 N2 G8 s  C
all the B,C,D,E have to go bankrupt?
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! ^, b% F% {( i" D1 i' E+ Nthe multiplier just tell how much money created in a whole economy,
+ C; w% D" I4 Din this case it doesnt really matter how much money is created,
5 x) L+ u( @3 v8 ?# T2 u. Iit's the problem of the debt itself.8 O( y. W& s3 ?
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
& S% x' b0 K, T小弟一直都唔明...
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. n$ @8 j: N& o# A2 ]+ X$ C$ E  d* y  \5 q全世界都蝕錢，咁邊個賺緊錢呢?
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/ f. `0 e1 Y6 a) R無可能淨係有人蝕錢無人賺架嘛...
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' S. Y+ u) i1 R0 g: `) U, H3 M敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
. P( V0 c. m& a6 |7 `+ r: k- l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! q7 U: F  |6 e0 X5 }' V3 Q8 [  D' e

2 M. u: p: N: M3 h( _. m" Ihttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產  ?+ f! V7 a( w# ~* M0 |
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
. @# i( E( S* p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
- _( c5 t% b. z6 z% n" x7 E8 ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 e% {5 z, J  U% I) p- F扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ [0 y* Q6 G7 N$ ?0 P
計番回報率就已經係50%,所以可以好好賺
) e9 I# V6 v! n: s前提係銀行之間要互相信任先可以咁樣借法
' L" ^- a! J* n% n8 }( T) w$ N, u同埋個市場既前境要係好先得
' H3 t& x3 j$ ~4 ~* c但當經濟一差,公司估值趺了,物價不升反趺8 C0 @9 q( Z0 B7 @
例如剛才說10蚊的, 趺到得番9蚊, 0 a* l/ Q1 G- F  ~- `7 s) i
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 |% e9 d$ x( C" f5 M8 F
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,
& _; Y/ _# N2 L* |+ ]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: U2 b' ^0 R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, {% Y  h  P1 j/ @7 m; _4 h; ~1 R6 T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9 {  M  R/ w; t( D0 W" r" v
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
5 |6 h  T1 _' I( r( O9 o* Z唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 `1 ]( l4 h" i
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 _+ l  y+ m9 Q, {$ u! i5 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& \+ I" M* k7 `
咁你話d錢蒸發左去邊? ...

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  f. R7 |$ j& X& i. d9 s正係咁樣
) S+ ?! m: L$ h$ 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
3 y! b. {# g6 u5 I# s6 p4 P分分鐘佢地唔使還錢
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: w, o% ]$ M0 ^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,, l0 k+ V" p4 P: L* X
連國家都係問人借, 不停發債券, 印鈔票/ D! X& K$ B" E0 _: O: O% `5 j9 G
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: C  T: z2 q. C9 m% Y8 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
  J$ S" T* `& }% h& ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 z; f  P& t/ ~7 ~其實係...
* w' S! z, c3 \" D1 ?  k9 C因為以前未生產, 先消費
5 d, V) E/ V) H/ n/ V/ \7 [% ]而家就要多生產, 少消費