0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ K7 n" B+ _3 j- r% V
Why bank will sell 借據給第三者???
- |: O7 f4 p# x6 M. kI was so confused.....

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2 Y0 {$ Y$ j- ~* S9 o8 m0 v# ^% H講到尾都係賺錢$ ?; L4 ^: y5 {% N6 v; z
so銀行可以不斷放款
; D2 a$ _. U7 R美國的房貸問題散佈到全世界, \: g* u& i7 {* u

  X4 m5 g8 _: p9 g. L/ rmortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)! [" {3 o$ Z" V( m/ f% c& O! d
最後去到投資者

Kev

i thought it is the reason of rate of return.
9 W0 v  S$ j# j: w, m7 G; q8 l) KCDs could have different ratings, AAA -> F,- H1 K+ A5 s- p
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 g. y+ Q7 G5 l( J- [; D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 \0 u& b0 l, a. H8 V; d. Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 w8 E; M5 _8 J) C! h
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ V7 y1 F* U  ]$ Ssimilar to bonds, CDs trading in the secondary market have different value at different times,9 j9 l1 \, c/ k& }6 L; R; j
normally the value is calculated by adding it's principle and interest. & i7 @1 j4 x5 T+ T+ r1 U( I7 R
eg. the value of the mortgage+the interests to be recieved in the future. ' _" r& L& t' S. W3 ]6 q' ^; j
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.% T5 O+ J2 I& X: e! j: ^

  j: {# y( a) N& ^im not quite sure if the multiplier effect does really matter in this case.
9 c+ I/ J+ q3 v3 h! ~in stock market, it's the demand and supply pushing the price up/downwards.7 F' t3 p: e' ?8 d8 f& O3 W6 v
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- S$ }0 P9 f( R) |' S$ n2 e( BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 H; t! I. O3 {5 P  g+ {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. % o7 x3 l: B' R; J, u& x5 g
but the value of their assets did really drop significantly.
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: C( S! W2 O) a[ 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
. v  O, h) q2 r9 u: N; h( d: {Refer to last example,
# n5 ^# o/ u( r& G9 t( z0 ithat means bank A have no money because we borrow 10 dollars from bank A 2 k! U" S0 ^$ ^) s8 L$ G
Because bank A doesnt have enough cash on hand
8 w  S% [8 d/ c+ @- e8 Ctherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 \! g% f8 X# u/ U8 UA->B->C->D->E
5 j6 V/ m% M- d1 E; J0 Z4 Uso does it mean if E failed to pay D, : L8 p3 k: D* _! U
all the B,C,D,E have to go bankrupt?
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. c# c9 L: P3 P. D* T# _the multiplier just tell how much money created in a whole economy,
  E8 V1 ?% j$ d3 Q& v7 X1 ~6 zin this case it doesnt really matter how much money is created,
0 q' ~/ w. d1 \# E0 git's the problem of the debt itself." N9 N4 U) P% z
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, E0 n6 e( P% ~; M6 y. D
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...
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4 i& e' O5 y5 f2 |9 d0 m敬請各師兄解答
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' y+ o) r! L. A3 @' `6 [Thanks

% L0 R  z! ?- k( O那些根本係 紙上財富  
5 }, r! _* K6 @6 D: A( |! W9 N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- S) M9 _' ?, y: y
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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
- I4 x, }) D/ Q1 g3 Y% g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 {! t' m6 t1 \
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 E: a5 G9 A0 ^! [6 a3 F% J& d個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* b! n4 l2 |2 X6 m7 s$ z4 R' e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
) x6 k8 l) m" h% @; y8 Z計番回報率就已經係50%,所以可以好好賺
  Z+ z1 a4 V: K; A# `前提係銀行之間要互相信任先可以咁樣借法
3 b8 \! P$ X# s; J. f6 G同埋個市場既前境要係好先得
$ B0 R7 ?! z4 m但當經濟一差,公司估值趺了,物價不升反趺
1 B7 f# P, J5 }4 A3 E! R例如剛才說10蚊的, 趺到得番9蚊, # z5 _' f7 C4 w+ h6 c$ y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 g" s/ t8 w# u6 p# ^7 W0 K- R
所以你就會覺得D錢好似蒸發哂咁
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7 ?) ]3 u, y. [你都可以當標野咁諗, 個樣野多人可以狂升值, ( M! _" b+ H# |% n' ]4 j. q1 ~
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,
1 s9 {* u2 c7 c6 [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " y) }- ?1 X  U+ [
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
1 s# [# N9 @# m, ~4 _' }, i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
% Y+ Y) J' s1 O- `0 H4 v/ C* Q唔係d錢蒸發, 而係比美國佬洗晒未來錢, * k, q& ^( C4 X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 ~8 N# |. E: J% 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" v: n7 h9 n; }4 G1 `. G, p
咁你話d錢蒸發左去邊? ...

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2 z& B. d4 L9 c正係咁樣$ n+ B+ s: _1 u9 ^. Z
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% w2 j7 d* q6 h4 M
分分鐘佢地唔使還錢; k: o' {; L8 K8 ?  q

% n7 q7 m1 h/ P, t3 ~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,
& T" _- o* A& Z, O8 Y連國家都係問人借, 不停發債券, 印鈔票
0 d; Q( `, m& {+ r- J/ K% [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) @0 m# M5 v1 N2 W2 F! u6 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
9 B; y. o" f+ N3 i8 j' H+ R/ z咁而家"爆哂煲"算唔算先至係變番"正常"???

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- ^4 `+ ^8 N( [; Y- \5 r其實係...
' V( y/ }0 u3 R. k9 x2 d0 f因為以前未生產, 先消費; s: t+ O) H* h* t+ {% ^1 ]
而家就要多生產, 少消費