0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 k% V3 ]( w) b; V% Y9 M" r3 f' E! eWhy bank will sell 借據給第三者???, b( ]: S8 V0 w- j
I was so confused.....

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講到尾都係賺錢
& J7 ^3 ?1 @# Y) t) Bso銀行可以不斷放款% Z# P: p6 ~& O0 b+ f
美國的房貸問題散佈到全世界1 X/ |. K3 p2 {" E6 ~; u( _- S& `, T
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mortgage loan ! p2 k; r. }+ S! J, e, y+ d! Z: z  w
>conduit" J# O  w. R0 B" Z) ~
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)* @4 {5 F( n. W. C( P% D  g# Z1 r9 ^
最後去到投資者

Kev

i thought it is the reason of rate of return.: M2 O1 E( p' p! `6 x( h
CDs could have different ratings, AAA -> F,8 P4 `0 S4 R  A& t  c
more risky ones would have higher premium (interest rate) as a compensation for an investment.: h  f& r0 h( @4 p& U4 K1 \& y  h$ Y* T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 N7 i& H7 d' R  X/ W
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' a$ Q0 k% H) j2 v& i& a$ I4 _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" {0 z6 [6 K- q5 `/ y  xsimilar to bonds, CDs trading in the secondary market have different value at different times,, X5 y7 c# _% w. t2 ~3 w3 b
normally the value is calculated by adding it's principle and interest.
7 B( k$ B6 h: M# eeg. the value of the mortgage+the interests to be recieved in the future.
8 i0 o6 d. S) ~# B6 T- z$ fbanks 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.
. U2 J  g  Y  k, bin stock market, it's the demand and supply pushing the price up/downwards.
9 R& z8 m/ @3 J6 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- ^+ H" i) e3 |6 U8 d! o! c$ EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ j! z8 u& E+ Y6 x3 y3 L
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 u& R6 Y  z, c2 ~9 t4 Obut the value of their assets did really drop significantly./ Y7 E4 w% I" J

/ p  @5 @6 a) A" R( e[ 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
1 j4 J0 {( A4 JRefer to last example,* p) {8 F  ^1 U0 w0 X5 v9 I
that means bank A have no money because we borrow 10 dollars from bank A
/ M! ]( z) Q. S0 FBecause bank A doesnt have enough cash on hand
" M% h4 y5 C9 otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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* {5 G$ ^4 S; C9 @  GA->B->C->D->E! J3 Y) q* F+ Q
so does it mean if E failed to pay D,
( Z. B: U7 s7 L, F! Wall the B,C,D,E have to go bankrupt?
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" f" l! n) p2 [* a1 ?" `- d
' R: a6 }" P$ E7 a2 {; pthe multiplier just tell how much money created in a whole economy,
4 D( m2 F# D! ]" o. Jin this case it doesnt really matter how much money is created, , [% Y% r( O6 B
it's the problem of the debt itself.9 l/ a8 y7 _! I
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
4 G, u: z, e# Y) O4 Z小弟一直都唔明...9 o# O$ P$ A+ P% B% b
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全世界都蝕錢，咁邊個賺緊錢呢?- G+ H. @* B( d6 W

. `4 z# y6 P4 S無可能淨係有人蝕錢無人賺架嘛...
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" ?: _' r% m7 f敬請各師兄解答
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Thanks

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那些根本係 紙上財富  2 C* a& F2 \  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 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
/ }9 v9 C0 D- D) ~0 a  k當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 V2 g2 b/ q, A3 [/ S& Q4 Y+ |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; Q9 K- ?9 |8 N1 @5 F
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
0 O8 A7 Y# p, q/ P1 n, T5 n5 _扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 N& f  T) U2 M計番回報率就已經係50%,所以可以好好賺2 h2 d( z: H" f/ O- l
前提係銀行之間要互相信任先可以咁樣借法6 Z3 f6 y* H& g% x
同埋個市場既前境要係好先得* w- V! I% Z: \6 ~. b
但當經濟一差,公司估值趺了,物價不升反趺
6 l, g% a" N$ R4 B6 n例如剛才說10蚊的, 趺到得番9蚊, / X8 K' _$ v+ `# l8 l1 O
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 U. B6 ^9 x; _3 A! {- p
所以你就會覺得D錢好似蒸發哂咁
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7 y4 S/ P" U0 o. g) w& I" c你都可以當標野咁諗, 個樣野多人可以狂升值, - N8 t8 [; U$ ~# d  G- k
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 t: _3 _" Q- `! O1 b" f. r
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 c- M7 \6 j3 i! ~- M5 z. g( x* q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9 S, W- T3 Q, V9 S+ k: 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+ y) ~4 Q$ R  c' d$ E
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 s5 k! S! @8 Q6 S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 }. @; w- Z, G) q3 ~
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
# M. u/ a" S; _* Z# w4 v5 ~3 M咁你話d錢蒸發左去邊? ...

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- P2 {0 R6 b+ F* p$ v+ U" `正係咁樣
% e, }, K9 h5 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' R7 n% S( |; Y  k' E. q2 u
分分鐘佢地唔使還錢( w2 f& A: M- v& ^

) j  S7 @4 F  X" }' |3 A4 N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,
& w* _$ j( u$ _, j  S- x' L連國家都係問人借, 不停發債券, 印鈔票
. j- T' y/ }+ C- u" v6 u( J1 [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" J2 c# D1 I" X+ U+ t5 W/ y6 n; }
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
2 [( B6 D* d! }6 N% K咁而家"爆哂煲"算唔算先至係變番"正常"???

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; w- v% i2 Q( V8 C" y其實係...8 a0 h! }+ I  \( D$ l
因為以前未生產, 先消費
8 [, n7 q! y6 q2 v& l; ~而家就要多生產, 少消費