0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 ]3 v2 F/ A2 p0 Y* _9 KWhy bank will sell 借據給第三者???
* L$ q# N3 a+ F) Y6 x- yI was so confused.....

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講到尾都係賺錢) [8 W: R6 F! y1 v' p; u& i+ e/ y! n; |
so銀行可以不斷放款5 `+ D8 o' Q8 f% G% U. \
美國的房貸問題散佈到全世界
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; B$ r3 I9 y/ Vmortgage loan
( x5 W% D) @% X; o" C* |8 J. A>conduit
* \& M: g& ^) T7 B>RMBS(Residential Mortgage Backed Securities)! v' o$ C* \+ u0 _9 ?2 |4 V
>arranger
- `: x* y  p( ]5 D% z! [>CDO(Collateralized Debt Obligation)
( w8 H% |$ @7 A4 c( K! T$ A% s' }最後去到投資者

Kev

i thought it is the reason of rate of return.6 u9 }8 C6 T1 Z# W7 @" w) T+ h
CDs could have different ratings, AAA -> F,2 a/ S$ m  I" k+ z
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* o+ S! g1 S. k) Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 W" L8 |% o/ d- W: x
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& V6 q" S& i( V7 s
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
: b. c/ T; W/ b) bsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 z/ s0 Q' [. `* b2 S1 ~7 onormally the value is calculated by adding it's principle and interest.
# w( i9 F# g# }3 {eg. the value of the mortgage+the interests to be recieved in the future.
! T: c) u6 ~. ]+ O4 U8 x1 A+ Cbanks 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.4 G* x% Z' \3 ]# O
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im not quite sure if the multiplier effect does really matter in this case.) J+ r6 O* B& N; r
in stock market, it's the demand and supply pushing the price up/downwards.$ K3 J' _' Q4 f$ R" u5 ]4 a- m2 ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. I* q4 m6 X1 ^6 Z% _; BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: x: x4 a( S5 a0 ^* P
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. 0 z( O2 ]7 n& V: a
but the value of their assets did really drop significantly.6 E; f4 s3 o# p/ v) Y. m

9 C: o1 u! w$ E: t; v[ 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
( Z! b4 U; o9 o' ], X: B* ~" ?7 _" j6 dRefer to last example,
5 |+ I4 a* q8 A& @) d( Tthat means bank A have no money because we borrow 10 dollars from bank A * x7 i0 O! x* R
Because bank A doesnt have enough cash on hand
, O0 D6 m! O1 O% Jtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ O- L( n1 J9 |6 tA->B->C->D->E
% r1 k* ?4 _  F3 B* @6 J. bso does it mean if E failed to pay D, 1 u; s3 Q. F% O% n) p
all 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, 0 A" {9 _  Z! W
in this case it doesnt really matter how much money is created,
; C2 J  Y; _0 Q* r( B' P, F( Kit's the problem of the debt itself.
$ H4 S+ w3 z( r$ x- M( {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
% b! q. m4 H7 z$ Y- x! l% h小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?9 F! M3 M3 q4 v! Y/ u
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無可能淨係有人蝕錢無人賺架嘛.../ b" F, u- n7 a# E
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敬請各師兄解答
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7 x6 r& v  ^- aThanks

0 |. d6 `4 ?# E+ l3 \9 y
那些根本係 紙上財富  
3 @0 Y1 D  \' O/ a! F5 _+ |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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# {4 b' ]/ A) Whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
$ U8 d2 v4 r, [當經濟好,投資銀行相信會賺錢, 物價既估值相對較高% n7 x4 D$ Z( \: h
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- M% h' j9 ]: x$ a9 e
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! n8 x% v7 X7 Z) i6 Y5 E0 }扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 P& M9 ^# I0 n$ y& `  G
計番回報率就已經係50%,所以可以好好賺: c' E+ Y# ^  Z2 g* [/ i7 ]
前提係銀行之間要互相信任先可以咁樣借法+ d2 e7 Q5 j( p& f) }0 N* X# d
同埋個市場既前境要係好先得
- y' Q- j. Z! F5 ^5 b0 m/ I但當經濟一差,公司估值趺了,物價不升反趺
, z: |, ^$ }' }- e$ K* X例如剛才說10蚊的, 趺到得番9蚊,   _+ b- E5 z) D+ O' i. l- g
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' v4 x+ W% Q+ W
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, ; I! R! J! G' N- a% L
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,
9 e0 u( e$ I' I) Y! B8 u6 @: l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , i) _9 G  h, 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% t+ H! |# A& J, W- R6 l. Q
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
, p# V  n- P, x唔係d錢蒸發, 而係比美國佬洗晒未來錢,
* [2 p! m4 \4 e+ T6 @" n0 ^淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 u, z, Q% |  m& L  }9 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
' v5 c4 ^' v1 e: f2 H4 Y) y7 S6 ^咁你話d錢蒸發左去邊? ...

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正係咁樣" E2 U+ q& B" 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* q) i* Y3 P( P8 a; x; A1 G
分分鐘佢地唔使還錢+ a. x  |6 a1 J$ B% }& U
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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,1 x' n8 ^( P% Q4 b
連國家都係問人借, 不停發債券, 印鈔票
+ p& B  v% N/ r, U' z一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 o8 P2 P5 }1 p- v3 f$ e/ n2 }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) e4 W8 D6 F& G7 m
咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 L# z( W* _8 c/ Q9 d其實係...
7 S/ e, ~% S+ P: E+ }! E2 E因為以前未生產, 先消費. o0 ^5 H4 w0 g9 j) R& A
而家就要多生產, 少消費