0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 ?: W7 l+ e% u9 ^Why bank will sell 借據給第三者???
- P3 C8 p9 O+ W' i8 p. wI was so confused.....

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2 m1 s/ b) N( O6 j" Q9 ?+ T講到尾都係賺錢
$ x- k- R% L) Z! S; R7 m: hso銀行可以不斷放款& S# U/ O0 X/ @) d8 G
美國的房貸問題散佈到全世界
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mortgage loan , i% e4 q, C) ?0 ?2 n( _- F
>conduit! t! q# O' h: z+ v: k1 H
>RMBS(Residential Mortgage Backed Securities)* [* Y5 Z$ g/ I3 B! E2 x5 R" M9 s
>arranger
  ~' A5 F5 V3 K  B>CDO(Collateralized Debt Obligation)6 a, L5 y# V8 ]. K* }1 L
最後去到投資者

Kev

i thought it is the reason of rate of return.
! W3 m" G+ f! H4 d9 zCDs could have different ratings, AAA -> F,4 \6 D- I$ y8 {# D
more risky ones would have higher premium (interest rate) as a compensation for an investment.) I! B0 |3 X5 f8 ]; _6 ?7 e! u6 J7 D5 O
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* Y3 ?1 r* q1 Z  h. o% C
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 [  h3 w+ q/ Z1 X0 aAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" I6 R0 _, t8 h1 [: Osimilar to bonds, CDs trading in the secondary market have different value at different times,$ M3 ]5 ^8 D% ]9 ^' B9 H
normally the value is calculated by adding it's principle and interest. 5 e( a, e9 f9 ]2 Y5 ]
eg. the value of the mortgage+the interests to be recieved in the future.
/ a- L. o# R% ]( b6 tbanks 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." q+ K3 B. |$ _, N: `$ i- F

- [" }0 x; T  J) mim not quite sure if the multiplier effect does really matter in this case.
) J/ d1 u4 @0 a) jin stock market, it's the demand and supply pushing the price up/downwards.
& h: i# A7 T  }2 wFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  K5 e4 }  W- _0 y+ |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 C* F) I1 X  |/ a
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. 9 d& g+ |5 g8 s/ Y3 u+ T
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
* B0 O- Q; E# x7 kRefer to last example,
' W8 h) r$ ^* d+ w- Nthat means bank A have no money because we borrow 10 dollars from bank A
8 T* L  H) w+ }8 ?" r0 N  ^Because bank A doesnt have enough cash on hand 0 {( Z+ |; j1 g7 h* R+ _
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E0 G% h' e, g+ b+ g! p
so does it mean if E failed to pay D,
  r4 ]' @, p* Iall the B,C,D,E have to go bankrupt?; U' B; p: M9 H- i
1 e2 `3 O$ Y0 ?0 u

6 m4 G, H! ^1 w1 K- nthe multiplier just tell how much money created in a whole economy,
" a8 b7 u# Y- U1 Nin this case it doesnt really matter how much money is created, ! Q6 p3 b8 ^% ]% ~- C* q9 H
it's the problem of the debt itself.
0 r. Z. K8 _4 zthe 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.gif6 t/ M+ v* e; }) }: o
小弟一直都唔明...
6 I9 H0 S+ K* N( _! y  f, G  `) v  O2 m5 _1 c5 A, U7 ]
全世界都蝕錢，咁邊個賺緊錢呢?# d, J2 }6 g8 A
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無可能淨係有人蝕錢無人賺架嘛.../ }/ q; m7 f* K0 j5 ?( \

2 j* X) q8 C) [5 d9 F敬請各師兄解答
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Thanks

/ C: D! J/ h6 W8 h" B( `& Q
那些根本係 紙上財富  
1 w) D* W! y+ f. s* q% x) w. 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 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1 ^2 i9 d& a+ E1 v6 F0 d
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 E0 T/ Y8 s7 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5 t, O$ r5 j2 k) d; Q3 b+ p3 l( h; o
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
, a* v) h1 Z2 G* D6 p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! ~8 Q% W8 A$ C2 ]7 Y% Z5 S
計番回報率就已經係50%,所以可以好好賺7 X# n, y& ~9 P3 s) y
前提係銀行之間要互相信任先可以咁樣借法
- ], x, ]6 G; b! `! v2 _同埋個市場既前境要係好先得
7 C) I6 q2 I! K; m( c- n但當經濟一差,公司估值趺了,物價不升反趺. g$ m! ~; G; V
例如剛才說10蚊的, 趺到得番9蚊, + j/ Y( S9 J" A0 V* g/ n5 X: {2 |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
0 z  v5 y+ Z  O) S' ~所以你就會覺得D錢好似蒸發哂咁/ s5 f2 _6 K, T. O' ^
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你都可以當標野咁諗, 個樣野多人可以狂升值,
; B" A# U6 T; ~3 y  g0 f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,
# T/ g, p7 f) c$ S+ C5 T/ L3 q4 Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 [" T* B  C+ M% S  C8 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
- P8 V* a) V2 ^" @8 U- k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/ `& _- g" i* l$ Q" U3 Y
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
- ~. b5 e# B1 T! @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! [; n/ V8 Z3 T) H
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
; o2 ?; Q, v5 y0 U2 H( U2 X咁你話d錢蒸發左去邊? ...

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正係咁樣
% D: w* x8 u- i0 g1 U: _) [+ n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
' H, K4 G1 f5 i4 B2 K分分鐘佢地唔使還錢( w5 e3 ~1 R' H3 x* g

+ \% ?# E; k7 o, m5 M- ]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,
& @* N4 {8 |0 _4 h  u( _連國家都係問人借, 不停發債券, 印鈔票
5 t* z1 y4 G6 d( _& q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) L8 d1 G# _" q& _5 t4 e: O9 z
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
: O+ z6 l; _3 i3 w" H3 U咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ s% e; [4 N" b其實係...
3 ?; {1 m- d! R' A3 ?$ P因為以前未生產, 先消費$ ~+ }( B% t6 l9 z$ d  U
而家就要多生產, 少消費