0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
; ]& E/ \2 M- M( w; xWhy bank will sell 借據給第三者???
1 J/ g8 V6 [# p: E7 T. w* GI was so confused.....

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講到尾都係賺錢) X8 Z  }, T0 z' ^; M6 Y
so銀行可以不斷放款
7 t! L  \3 r6 Z# _4 M美國的房貸問題散佈到全世界9 l4 E7 _! E% ?1 e9 P. D2 e0 I
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mortgage loan + t$ Z9 W! H, N4 b! g
>conduit
" A1 j# ~* s- w) C0 ]>RMBS(Residential Mortgage Backed Securities)! W5 N- p8 w8 _" a  j1 n
>arranger' N! I" ?" q5 k# Q, v* o7 n
>CDO(Collateralized Debt Obligation). f0 V& K) o* a. P1 f7 D- |- A
最後去到投資者

Kev

i thought it is the reason of rate of return.# ~: M& k3 M) q* D1 F& w
CDs could have different ratings, AAA -> F,
/ K, N, W# a, C  f, h. X. q  omore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 k1 B& g3 s" T) u5 P* Omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- M5 i$ ]9 q' C% E+ |: ?9 K+ _/ D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ }8 s% J7 p  c8 D# \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 e& X9 }) K( Q% F0 H) L
similar to bonds, CDs trading in the secondary market have different value at different times," T2 j0 n* ^& C% y6 ~/ @, @
normally the value is calculated by adding it's principle and interest.
- C! N9 `! v3 seg. the value of the mortgage+the interests to be recieved in the future. 3 ~+ i" z7 P( a0 M0 }! \+ I5 c
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.8 z2 i0 n  h& B6 s1 U

# F3 B, G- i0 l) C% \& Dim not quite sure if the multiplier effect does really matter in this case.3 d* Z& D& U% f  d. |
in stock market, it's the demand and supply pushing the price up/downwards.# |& d% n6 C2 o& u; o, F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 f( L" j! A# c3 p# k* DA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ A# @$ o2 V6 @6 LThe 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.
" k8 d1 Z' w3 Q3 Ubut the value of their assets did really drop significantly.9 [; }; \& \! f2 s% B8 v8 c  d- L1 a+ ^

- m2 W5 x' d+ X! L5 R9 N" o0 j[ 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* g+ f$ ?0 O3 M% q+ d" ^9 d5 W! O
Refer to last example,3 R2 c. u( ~& A
that means bank A have no money because we borrow 10 dollars from bank A
% k( R; {1 d1 r: v/ H7 _* VBecause bank A doesnt have enough cash on hand
1 C3 M/ A/ G$ }therefore bank A need to be bankrrupt ??? Am I right ?? ...

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0 [3 `& K0 l- w5 {1 pA->B->C->D->E/ t0 J" G  y  E
so does it mean if E failed to pay D,
2 `/ `5 k9 ^. B0 G3 n; Lall 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,
2 L0 \) O5 k7 R% a* ^# O$ Q/ {+ Xin this case it doesnt really matter how much money is created,
1 q' I7 g5 l$ o2 kit's the problem of the debt itself.5 S6 X' ]& Q2 w3 @  c% O) c! e& d& O
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.gif3 x  a8 P$ ^3 r+ g9 e! o# c; T3 |
小弟一直都唔明...# `( C' S; i5 |0 w5 E

7 p" n, W$ L+ J8 E8 @$ J* E0 {7 ]全世界都蝕錢，咁邊個賺緊錢呢?: F( \. x3 k8 E

$ y0 o6 E1 B6 S3 {2 R! s無可能淨係有人蝕錢無人賺架嘛...3 l. G2 j* |( ]- \6 l
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敬請各師兄解答0 g$ f3 h( x. k( F1 r( v

3 q5 w5 }4 Z& u4 EThanks

7 U0 x  b6 _0 \: e那些根本係 紙上財富  
( C  n8 R( C' J7 C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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, B  j! |6 c) g1 J: Q  P4 h+ T" R8 j- \* L* Rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
+ _  P7 E- l  K4 ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
! P! X, g# j/ Q, g3 Y- i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
/ i! l: j. @7 V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ h* ~3 O+ J0 V" h8 X
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," E% i9 v& N1 [7 v" B: s- ]" Y* N
計番回報率就已經係50%,所以可以好好賺
$ s7 A4 K* w  w! e7 t3 D! ^前提係銀行之間要互相信任先可以咁樣借法
2 [, z' Z3 ^/ S! T9 q1 N: p! w4 h同埋個市場既前境要係好先得
: y9 \$ t# T2 s. d) @% {  t+ Z但當經濟一差,公司估值趺了,物價不升反趺$ F( t% h# f* d& i5 m/ C2 D, q
例如剛才說10蚊的, 趺到得番9蚊,
) P+ M# b/ P  ^) ]8 q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 T" c, T3 I" K所以你就會覺得D錢好似蒸發哂咁4 n/ x9 s% D. z( f3 t
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你都可以當標野咁諗, 個樣野多人可以狂升值, # Q6 c) j8 K9 H$ _9 d! W. W1 @* S+ x- T
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,
& v( N6 C9 o$ O6 Y) {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : n. @* \( z4 Z8 [" E0 W- V" x
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8 r( |/ B0 O3 b
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
# w/ P$ y/ x$ C: e  Z8 m3 I. A唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 x) I4 `" G9 T# ]' i6 Z9 Q* a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & A9 Q% L1 u4 V2 ?( p. 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
) K" Z* ?& ~; w1 g7 [咁你話d錢蒸發左去邊? ...

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: j! I& u: h& j+ @正係咁樣7 n3 a6 o! I% @, \6 {/ T
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 J9 `9 Y1 Y% \$ t' n分分鐘佢地唔使還錢
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( E, y* z7 ?; o  t% v! J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,
2 ]' p+ }/ \1 O/ [6 T) ]連國家都係問人借, 不停發債券, 印鈔票
9 }4 h9 [+ k$ {7 ?2 T一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& R! u& Q2 Z& 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" l" ~; N- G  n6 ^" F0 e) I5 W
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' `# E& F  }$ t/ X3 U5 Z) m' F9 y6 |其實係...$ b1 F: |% c) m& a
因為以前未生產, 先消費
4 q+ ]1 D( n- d/ t+ ^6 N2 C" n2 Z5 K而家就要多生產, 少消費