0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# K- h1 y9 l+ A* _( O8 ]( ?1 q. qWhy bank will sell 借據給第三者???
2 Y, x7 y1 ~6 ^' iI was so confused.....

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/ m& j( Q$ a; C3 b- G講到尾都係賺錢
) P7 }* P1 Q9 C1 t- |so銀行可以不斷放款' ?) [" V$ e# }
美國的房貸問題散佈到全世界
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mortgage loan
5 @' H; ~4 g) o. j5 @$ _>conduit) {/ K+ ]2 H( O
>RMBS(Residential Mortgage Backed Securities)% v8 d, t! m: x/ H. }2 C
>arranger% v9 R" Y0 T2 ?$ `
>CDO(Collateralized Debt Obligation)
! d. d6 p+ i( j5 ^6 g. a最後去到投資者

Kev

i thought it is the reason of rate of return.% w% i1 P0 D: n3 ^
CDs could have different ratings, AAA -> F,
: w( b" I4 w" o+ ?% Emore risky ones would have higher premium (interest rate) as a compensation for an investment.
- {1 X( e1 }- _: \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% P& K3 Q, H/ `+ c& p* M" N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 N9 F7 C% [  ~2 C* ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( {: r9 D5 S6 T; ?5 o! hsimilar to bonds, CDs trading in the secondary market have different value at different times,; h: N4 b' O9 q# e! \
normally the value is calculated by adding it's principle and interest.
; @3 y: |. }# e  l# \- eeg. the value of the mortgage+the interests to be recieved in the future. : W9 c4 L  x0 m  e% W
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.
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im not quite sure if the multiplier effect does really matter in this case.3 f$ E& u9 I8 K. F8 U
in stock market, it's the demand and supply pushing the price up/downwards.5 @" H2 k6 b5 @% ^) B
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) G  P1 D* c( _( N+ U8 sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 ~: s5 Z1 q. c, Z9 oThe 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.
$ b2 N' u- L4 T: l6 X; f7 cbut the value of their assets did really drop significantly.# s/ P0 Q6 t7 v. g& k# m7 S3 C, t

! K$ ~. B7 d: d, @. O) D[ 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 S2 t. d, R. j4 F  f: k5 w
Refer to last example,
" M1 n) }. ]6 J0 [& wthat means bank A have no money because we borrow 10 dollars from bank A
. N6 `* F6 u; FBecause bank A doesnt have enough cash on hand
  |. V, ]: @- [; F9 o) l* u0 P+ Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E, M# {9 i# Z1 ]( Y
so does it mean if E failed to pay D,
! N2 ^. h- d' q% [3 a* ~all the B,C,D,E have to go bankrupt?
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. J4 m' t* H4 B9 h/ C; n7 k  }
the multiplier just tell how much money created in a whole economy, ! x' F- e0 w' F, ?* t9 `
in this case it doesnt really matter how much money is created,
2 A& p$ P5 `* Jit's the problem of the debt itself.4 I( }  M* |/ r$ K% ^
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
, M# d  `: ?* b3 e& C小弟一直都唔明...
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% S$ h1 W4 ]+ x! d- I0 p全世界都蝕錢，咁邊個賺緊錢呢?5 D" `/ q5 `6 T. m
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答# K; Z3 N$ O! o
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Thanks

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那些根本係 紙上財富  
. W# a7 H# T& t( Q# D+ R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 graphic7 c+ E1 t3 \6 ^1 v, W" k) q

6 h1 Y( v" B$ K( L* l. Q( xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
3 c7 F4 n- @2 \6 {- ~" y- p4 N/ l; ]當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 }/ K) q! w) E3 k6 L8 m; p4 t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
. Q( f- q+ J- a9 e% i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; h3 o1 o  E+ [3 [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) @& r8 v3 k! f計番回報率就已經係50%,所以可以好好賺* `% ?; f1 ^% b3 L3 @/ l: z
前提係銀行之間要互相信任先可以咁樣借法
; S3 ]0 F9 W9 F/ q5 h同埋個市場既前境要係好先得: m$ A5 v1 I2 L- O
但當經濟一差,公司估值趺了,物價不升反趺! m9 \; r6 O/ E. u5 D1 G
例如剛才說10蚊的, 趺到得番9蚊,
+ n7 P  Q, o5 J& d  h- A咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
; C& \& k' G  q所以你就會覺得D錢好似蒸發哂咁( z. U1 b" M0 I5 b3 B3 Z3 Z

0 w6 h' G1 }3 x! U+ C3 H; A+ Z你都可以當標野咁諗, 個樣野多人可以狂升值, 5 M! L" R/ r3 W+ U# X' u
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, " C8 I+ l; @( W5 M' m
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 R) q- z6 V9 V( d9 j& Z4 L  o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" W9 f' s) \& ?. f2 g. s* Y
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* J. e* o9 r( J4 y
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 5 v) o7 N; w  \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
$ [+ c( E4 z% E% I0 u- X9 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
, D" }9 c8 ~. e. f" f咁你話d錢蒸發左去邊? ...

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) ]1 Q/ q* m4 l; e$ _' c+ I正係咁樣9 u' o; e0 f* y; d
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
5 |2 m8 w6 f/ A" q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,% Z" i, G! o4 a
連國家都係問人借, 不停發債券, 印鈔票3 I  S! D# K/ q; _0 f2 o& r* l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 K2 Y* z6 ?5 Z5 l* R- \0 t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
+ ?& H# r: a* Z5 O% R咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ A; M$ i8 p1 }# ]: A" x
因為以前未生產, 先消費
  A/ z3 B) l6 N: U  O# L而家就要多生產, 少消費