0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 i, A. J2 F0 {7 OWhy bank will sell 借據給第三者???
6 p5 n* b, s0 J7 N/ M) A" zI was so confused.....

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講到尾都係賺錢
2 l8 k" Y8 w$ S$ |so銀行可以不斷放款4 R& q# @0 J, B5 A, ~( {
美國的房貸問題散佈到全世界1 n9 @8 x. B  w* V
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mortgage loan
: }  q3 b, q& C) z( w" \5 g>conduit3 r8 V5 @9 b1 d* g
>RMBS(Residential Mortgage Backed Securities)% Z! Z  ~2 s- a+ {/ W- \
>arranger) v0 Q3 v5 K$ _! G) R
>CDO(Collateralized Debt Obligation)
) @! i+ q8 e, G/ t+ ~最後去到投資者

Kev

i thought it is the reason of rate of return.9 z( E# e+ b; G! @# ~8 Q- _, Q( |
CDs could have different ratings, AAA -> F,
0 P- _) V' }) e+ M7 _4 @more risky ones would have higher premium (interest rate) as a compensation for an investment.1 l) l6 h: Z$ L; C
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. s) N& X! f# G, j8 ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 m) J. F- v& v& r2 t& cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; i" e/ B# l5 Q5 D; u! e2 k& \
similar to bonds, CDs trading in the secondary market have different value at different times,1 @0 R/ \* ?9 x' ^0 v/ l2 W
normally the value is calculated by adding it's principle and interest.
: r- N9 b6 g! R7 _7 |& a6 Reg. the value of the mortgage+the interests to be recieved in the future.
' _& \4 b6 |0 S) h" r( \) y+ Ybanks 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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2 s7 g" ^" r9 ], Z0 D3 qim not quite sure if the multiplier effect does really matter in this case.# u; \8 t$ d. X. L& M9 o
in stock market, it's the demand and supply pushing the price up/downwards.
8 h/ k# T2 i  {( l/ F% o3 i- PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 c2 b1 q0 W) p# ~1 d# r1 }* R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. |; ?* w$ H( i$ |3 r3 Y" MThe 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. ; z: G& G1 B- ]7 O
but the value of their assets did really drop significantly.) q& k1 x; w6 ?  N) C6 Z
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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.gif6 i# S" S! _+ ~$ ^1 m
Refer to last example,
  `9 R; H7 i5 athat means bank A have no money because we borrow 10 dollars from bank A
. d5 {( U7 E$ `3 R% z% oBecause bank A doesnt have enough cash on hand 4 f' p* Y% s* X
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E5 ?" `% J# @5 N$ g+ r+ s  O, i
so does it mean if E failed to pay D,
! \: M1 w3 V2 {- n0 ]6 H2 P! Ball the B,C,D,E have to go bankrupt?3 p$ n% V' A- b6 u9 T, l7 I
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the multiplier just tell how much money created in a whole economy,
, i, V2 y/ V6 R9 ]1 a" w( Sin this case it doesnt really matter how much money is created, ( y! M6 _0 N" _0 `/ r
it's the problem of the debt itself.
  l- |  ]* J1 i5 p* Uthe 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
+ f/ }1 I9 o4 p" K. x' i5 l& g. ^小弟一直都唔明...7 h0 O  m3 G+ E5 z! ]
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全世界都蝕錢，咁邊個賺緊錢呢?
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& C! j, r$ a8 k6 O' Q無可能淨係有人蝕錢無人賺架嘛...4 o8 m2 t, g+ I$ z! `8 _; h

# Y2 ^8 q: d, J- I4 V& Y敬請各師兄解答
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Thanks

6 O" [" d- Z5 a7 p, B那些根本係 紙上財富    s4 D, Y( q3 f& u" e8 ^3 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 graphic0 Q8 }# [* C9 h0 e

4 x. e9 X- @/ r  [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/ |, Y# i+ d9 }; [' z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. o( p0 e6 }0 z! |& u, w7 Z
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
! e0 v" d  G: N/ o$ Q$ S個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 p+ f, Q6 @, S* n" ?扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
: F& E2 j- x& k7 h計番回報率就已經係50%,所以可以好好賺
9 v; m% q0 a9 C) H前提係銀行之間要互相信任先可以咁樣借法
4 v6 F- K) |% t同埋個市場既前境要係好先得
9 X/ I  F9 K: r' |但當經濟一差,公司估值趺了,物價不升反趺
1 B" c* V: Q  w7 o% W例如剛才說10蚊的, 趺到得番9蚊,
! f) _# r5 {' X# y( m咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& e' g; O+ _% H7 k9 J8 Y$ 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, & V, d+ M  f) B( a! x
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,
. V) k2 G, v1 N/ K; B* G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , ^+ j& Q3 ?* 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
  j4 [# R$ d" ~$ z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.gif0 }2 k7 L" y# M( A; l/ }
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 j. D1 Z4 I5 w0 c, J" f* d) A% s淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 A" w' f$ X3 b: 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3 I! l/ d# J, C0 [
咁你話d錢蒸發左去邊? ...

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( `5 z  ?, l2 T6 F$ |$ @/ |正係咁樣, Z, _2 g1 V+ d$ o
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, r* x% B+ l1 L) ?+ l" `; W
分分鐘佢地唔使還錢& B: K0 H% W/ D3 o4 J, Y0 y
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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,
0 V" C7 r" _. P8 x連國家都係問人借, 不停發債券, 印鈔票
* @/ Z* y5 |9 y3 \2 k9 X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ p6 e" J# P+ m8 j% f1 P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
( U$ i, s6 B2 C/ C6 h/ [0 w咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 y+ D, }) h+ p7 E9 O其實係...* {' k+ o9 u& x% z! ?1 n# N7 y: b
因為以前未生產, 先消費" l6 W  S( Z. A
而家就要多生產, 少消費