0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif! H/ F! ~3 }; }3 I1 |: }' I: P
Why bank will sell 借據給第三者???
+ k2 Z( g- d, Z. U7 _" jI was so confused.....

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講到尾都係賺錢
" r( ^6 b2 ]$ yso銀行可以不斷放款
" \0 q& J7 c- ]- c! o6 K美國的房貸問題散佈到全世界
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mortgage loan + }- E6 D# P4 J" U* i
>conduit. z3 e( g0 N1 e! L1 s/ s
>RMBS(Residential Mortgage Backed Securities)" o# f- d# {' d* s. I, D+ j; r& v
>arranger8 s5 S0 f6 T2 u) W
>CDO(Collateralized Debt Obligation)' Z0 _! j2 k+ O5 L. Q
最後去到投資者

Kev

i thought it is the reason of rate of return.1 o: @! ?; ]/ m! k2 ^, j
CDs could have different ratings, AAA -> F,: Z1 N) |8 p. l* T3 U# g2 i* q
more risky ones would have higher premium (interest rate) as a compensation for an investment.. ?2 Y0 F/ d/ U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ G9 B2 P8 w, |- P. \) y! n0 l3 Q1 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: e; S/ l! E( i1 H# Z: o3 QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 p: _" i5 ]4 E- t4 B
similar to bonds, CDs trading in the secondary market have different value at different times,
5 k0 A5 l* d$ ?; k1 b' `normally the value is calculated by adding it's principle and interest. - n4 Q/ G- L* j- p/ _& l" G/ o
eg. the value of the mortgage+the interests to be recieved in the future.
; K  L. F8 |- @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.  N! M+ [9 [3 ^! H
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im not quite sure if the multiplier effect does really matter in this case." x8 u6 T0 e/ x" _
in stock market, it's the demand and supply pushing the price up/downwards.
0 `. X2 S' s0 UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. v# T% s5 r% L- `0 B8 U! ?# ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 g; H8 l7 p+ k, Q- \0 }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. & p8 ^+ R$ s' j$ e
but the value of their assets did really drop significantly.
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3 e. f; U3 F, N1 i3 f1 E6 P- @[ 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.gif0 g& p% n9 k' v9 V+ C3 U" K: U( p* s
Refer to last example,: p1 g: m; ?- M) E
that means bank A have no money because we borrow 10 dollars from bank A
! g7 k, a" h( ~1 l! xBecause bank A doesnt have enough cash on hand - W( q& L2 N* {: ?
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  j" b' X) ]/ h5 U9 {( mA->B->C->D->E2 `8 U6 i# Y& m9 Y
so does it mean if E failed to pay D,
; `$ v6 M) `9 ?) K; ~all the B,C,D,E have to go bankrupt?9 Z: m, N8 E( A

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7 C8 a& B, m  S' Jthe multiplier just tell how much money created in a whole economy,
( e% L2 I( T9 X3 e+ nin this case it doesnt really matter how much money is created,
# z) E% v1 L3 l0 a+ I+ @! m8 lit's the problem of the debt itself." I3 y5 Z8 t# ^. G% b7 q7 J
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
; R) J: @. ~; Y( V小弟一直都唔明...% x) m/ k2 u3 ]; {; H: B; b& M

' ]4 n2 \% M* e全世界都蝕錢，咁邊個賺緊錢呢?: h6 l- U6 |# Q( t- H) D

( D2 i9 ~+ l) i$ q. K( |, a; x無可能淨係有人蝕錢無人賺架嘛...( H( f0 e3 ]- R1 b0 _0 ^+ M

0 r0 l- Y' S1 B$ f9 g5 M敬請各師兄解答
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- V/ r9 c. o2 D3 [( p5 l4 {( {6 rThanks

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那些根本係 紙上財富  
. X2 |& k4 D% |+ `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 graphic9 g2 a3 ~- E$ M( F. g
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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  I( f1 l9 `6 k4 M
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ }. K0 ?* ^6 L& r4 _5 R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2 T1 p4 S. b1 l6 \1 K' o$ u$ Z( O
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. [4 y  M. T9 _) {扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,6 `3 }) V; @9 u. i7 k! H# }& Y9 ^
計番回報率就已經係50%,所以可以好好賺
  t/ u1 J- J0 O( s4 e" Z  j前提係銀行之間要互相信任先可以咁樣借法
0 ?0 S' U$ t! j$ V2 O同埋個市場既前境要係好先得3 ~2 [; A. N- O) @8 K2 r/ L( v0 c
但當經濟一差,公司估值趺了,物價不升反趺
# f% f  U/ Q. ]. k4 q7 U例如剛才說10蚊的, 趺到得番9蚊,
1 S/ j8 Y; f3 w' y( P1 v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 o& h; K6 \! A& N' i# u1 n1 j
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,
9 C/ S, |2 \9 X0 O8 N# r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,
8 K4 W3 j* N! E1 g, Z% m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 f4 V# Y/ d( F" G! B
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
& G: S7 R0 M: g! }6 a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" L9 U0 `5 [+ D, J: P
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 9 v) R" A, W$ V& v: r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ L) |# V2 H. C) }& 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4 l& K. {3 i7 q- a: i
咁你話d錢蒸發左去邊? ...

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正係咁樣- u. z7 i8 n; m( M' U/ U
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( |" p/ Q9 d5 N% z- ]( G
分分鐘佢地唔使還錢
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8 X! ~- R& s) k" j8 {% f% c3 D* Y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,
) p& r$ q* L) I: o' C" p! n連國家都係問人借, 不停發債券, 印鈔票7 x& r" l  Y! ^( f, i2 V1 I
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 q- Y3 Y- ~+ K* d" E7 S+ B
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
; f5 e# N% G6 a6 `. _. }- {$ B' N咁而家"爆哂煲"算唔算先至係變番"正常"???

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" v9 O' w6 V6 K. n其實係...3 e5 t2 K: ~) b
因為以前未生產, 先消費- ?, }7 i0 }% e0 n: _! \  c
而家就要多生產, 少消費