0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% [6 s1 B- J7 q* {, `4 KWhy bank will sell 借據給第三者???& p7 n/ K' p% t# Z: K
I was so confused.....

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4 t$ {  y- ]  ^* e  ^+ W, L( k講到尾都係賺錢
7 u" n5 V' H0 pso銀行可以不斷放款* A9 d) n4 e/ Y! U5 R7 C
美國的房貸問題散佈到全世界
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1 h" O; v% }6 S" B, T! F' }5 O- Fmortgage loan   M4 E( [6 p& [; g
>conduit
4 T: M4 Z+ [8 Y6 j>RMBS(Residential Mortgage Backed Securities)
& B' U; {- G5 N+ a! K, y>arranger3 ]6 w3 _" P5 e% \2 s" m3 a* T
>CDO(Collateralized Debt Obligation)
6 N* y9 U5 h  R$ d* e, i4 A2 R0 P最後去到投資者

Kev

i thought it is the reason of rate of return.0 N- U# K% b7 U; b7 U  h
CDs could have different ratings, AAA -> F,. u% P, P' T- I  H3 h: g
more risky ones would have higher premium (interest rate) as a compensation for an investment.( Q6 P3 N) ~& f+ `
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- }0 }! N+ J" E  n( ?" y' q3 k  _* iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( G+ i" g% P. u' CAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ C; x' ~" |& Q, O( ~5 B! G
similar to bonds, CDs trading in the secondary market have different value at different times,
% J' @5 d! U- {. }normally the value is calculated by adding it's principle and interest.
- A9 W$ l- Z; r- a! Feg. the value of the mortgage+the interests to be recieved in the future.
% q* V; G* y8 k( e8 b( }8 f5 jbanks 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.
& g3 z( y& G& s2 `4 {5 Din stock market, it's the demand and supply pushing the price up/downwards.' g* [1 I. I& c# z8 C; z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) i, R# G, g8 }8 U' N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 f7 v$ A6 H) f2 n' u, ]: FThe 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.
  J+ G( C6 l% z' c) H! U. U# Ibut the value of their assets did really drop significantly.3 h+ G3 k7 p- ]" x% C% b6 R9 Y

5 L) {, ?* c! h& Y3 f8 r[ 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! h. H" M& C4 J+ P$ o
Refer to last example,/ k% ^" N$ i+ o6 N( Z
that means bank A have no money because we borrow 10 dollars from bank A ! A( U7 M; c) F1 v" {1 r
Because bank A doesnt have enough cash on hand
  l4 E1 E! M" g5 otherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E* w- D3 T. u' K- u
so does it mean if E failed to pay D, * [0 l. H, V6 L, e9 o
all the B,C,D,E have to go bankrupt?
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2 Z7 o. [2 t, v8 u/ _& ^( M: ^the multiplier just tell how much money created in a whole economy, , y& T" c* s; O9 G: e2 r
in this case it doesnt really matter how much money is created,
( X6 n% [; v5 O' b& ?$ R3 yit's the problem of the debt itself.9 e8 U# I1 p/ \, 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.gif6 R+ q3 A) I4 G3 e' r% A6 Z2 \
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...* C! I9 e5 v4 k6 T+ V
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敬請各師兄解答- \$ }$ E8 K8 o1 Q

) O; ^  M2 h" n, L" @1 OThanks

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那些根本係 紙上財富  
8 a+ d) _) s$ ^" d' ^5 A% J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+ `+ V) n! C  M1 S  T  Q" k7 s

; t1 K& R: m1 ]+ |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; D' e, E1 m- ?
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, g3 F/ u# |" Z) ~/ d( ]3 p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9 u. D$ g% G7 m% K& H3 [! i
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( s5 T6 i4 w- x扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
- H7 v& G) j2 a7 d- B6 ~計番回報率就已經係50%,所以可以好好賺4 M% P" c6 L  }% g
前提係銀行之間要互相信任先可以咁樣借法
8 t! Z5 U  M$ A% u: W  V同埋個市場既前境要係好先得
4 z0 _; p! G6 A, T0 y; V但當經濟一差,公司估值趺了,物價不升反趺9 q1 G& g9 e& \6 q) j" e
例如剛才說10蚊的, 趺到得番9蚊,
. ?6 ^+ L$ ^5 v# [* S  d* R! E, J咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ T; w/ a. E, i# F6 D/ 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,
3 o; j! U# A3 @' l/ v3 D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, & l7 d: e0 _5 t& D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 g' C6 J' f/ D" U8 @$ A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* s2 ?9 x' [. l( t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.gif4 t0 [( H3 {% v7 B, N( b' I1 }
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 }  ]) ]3 f6 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - k' B% A. l# ^) G- D% w
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
. ?+ u) }: |# J% v8 k2 ?咁你話d錢蒸發左去邊? ...

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正係咁樣
- I2 ~% B- g  n, `5 j/ [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
7 m" T8 y6 ^1 S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,
. G% F# F5 _3 x9 D( V; x9 C連國家都係問人借, 不停發債券, 印鈔票
/ F: W6 U- b6 ^0 C5 }. |一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 T8 H2 R0 b% d4 l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
1 f$ G7 G! m+ I咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 f$ P! ]9 v% ^其實係...
" Q4 C. u( X" Z  A9 ^因為以前未生產, 先消費1 t% [7 n4 A- a3 S
而家就要多生產, 少消費