0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; m. f+ Y. D% [/ H: @% O$ o
Why bank will sell 借據給第三者???
: c6 U9 P/ h3 e: x7 n0 eI was so confused.....

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" D! j' H* r$ R% @+ p1 E5 e講到尾都係賺錢
) F: }% W  _6 H% f4 Lso銀行可以不斷放款5 f8 E3 P5 M* l& m- @# n
美國的房貸問題散佈到全世界( Z: C  m7 D7 |, g3 s
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mortgage loan
5 c# [0 g6 q- y  r$ L>conduit. ^  {! o  e; @3 a
>RMBS(Residential Mortgage Backed Securities)/ W# E! `0 a- U8 ^- A
>arranger. {0 @1 G. F  K
>CDO(Collateralized Debt Obligation)
% Z2 A+ u) X" x# [0 r+ m$ C最後去到投資者

Kev

i thought it is the reason of rate of return.
: _8 S$ a+ a# R4 @CDs could have different ratings, AAA -> F,1 w5 U$ G0 ]* [: u# A0 E. g# o
more risky ones would have higher premium (interest rate) as a compensation for an investment.
& R) g' v* U, zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 _' ?6 ?6 z0 J2 e# `$ ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  L6 ^$ `8 r7 G) N# B. t1 k& p( F4 K3 H
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 @1 h' a0 E  a% ^
similar to bonds, CDs trading in the secondary market have different value at different times,
/ O7 q4 }2 D5 K# C9 a! Mnormally the value is calculated by adding it's principle and interest. # g8 C% g) C# ^
eg. the value of the mortgage+the interests to be recieved in the future.
% x/ \) _# R4 ^" V# n+ [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.
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5 T% j$ T4 J" N0 ^, f* e' Rim not quite sure if the multiplier effect does really matter in this case.
# T9 N0 J# m6 M) Uin stock market, it's the demand and supply pushing the price up/downwards.
  Y, R' N, `0 f! [* SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 U4 @% C, Q/ J5 [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 H5 u8 ~$ p; n& ], {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.
7 P; \  U! z# j* @9 G3 ^2 Xbut the value of their assets did really drop significantly.( F: O0 g% Y3 `4 @7 T% H/ }% T2 I
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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.gif! u5 B; d' v9 K' o7 I9 u
Refer to last example,
9 d6 O! r4 _0 `- d, Ythat means bank A have no money because we borrow 10 dollars from bank A
3 f" l/ F0 K* `. E7 i. ?Because bank A doesnt have enough cash on hand   D" b5 ?; F" R6 q+ Z
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
* E6 ^" g9 L" q) P2 y& G: a4 d6 Mso does it mean if E failed to pay D, 3 Q  B+ @6 R% O/ E) V3 f, H
all the B,C,D,E have to go bankrupt?
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7 t  [' d) i9 ~, A0 w% sthe multiplier just tell how much money created in a whole economy,
. V. d) e* D3 v  M  T9 S; F! Tin this case it doesnt really matter how much money is created, $ \: q, U! \' W+ U* \5 y7 |
it's the problem of the debt itself.
( ]: q0 ^2 B0 V8 Nthe 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.gif7 F# z1 f% B/ t
小弟一直都唔明...) z! s& [( a6 z# h& u
$ ]  q" u( O8 z% W. Q2 B7 j2 ]
全世界都蝕錢，咁邊個賺緊錢呢?" E, u6 `$ ~2 ~/ g# j

- ^7 p) R) f" w+ E: Q- p% _無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答$ ?2 p5 m$ k9 H/ u/ Z2 C6 d  K
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Thanks

+ D/ m: K6 H5 S% v# v那些根本係 紙上財富  5 G" h; Z# ~" a1 `
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 graphic2 V) p* s' v+ Z+ B9 q3 ?  U

0 z2 s# k2 }# i% p; i& Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產" w7 E, B! r+ M
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) y8 y4 L: |8 L; _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
% t$ g  L! ~7 h! ~個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  C2 |3 R* [, i. f+ ^扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
6 Y: Q3 n0 ~1 O# b) @計番回報率就已經係50%,所以可以好好賺
# P2 @" ^$ p. W前提係銀行之間要互相信任先可以咁樣借法
8 y3 S: b& o/ k* U+ M同埋個市場既前境要係好先得4 g; r/ G1 C5 H1 l
但當經濟一差,公司估值趺了,物價不升反趺3 G9 w2 X+ n2 T2 q$ G4 ~: k7 O
例如剛才說10蚊的, 趺到得番9蚊,
) S1 z4 W7 x$ [2 P- N5 ^( x咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ \4 ?+ Q) W4 y) T6 D
所以你就會覺得D錢好似蒸發哂咁9 V4 F7 F  E7 |- {+ G* Q

/ w/ n4 K6 `) ~+ B. ~! c你都可以當標野咁諗, 個樣野多人可以狂升值,
* ?1 u& h: w% l; A1 J" m4 Y# {, {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 l' H2 j3 @  A& T6 U+ T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 Y$ \3 V) n; A! D; e5 ?) 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
6 ^/ N  R; a  c& T. I3 g4 R' q$ V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
. q7 O2 L, h* Y  w3 W唔係d錢蒸發, 而係比美國佬洗晒未來錢, 8 C+ ~" @0 F3 \6 J: O2 ?' h/ A
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. J. d9 {0 ~8 `  S: s. n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0 s) Q9 ~- A0 J
咁你話d錢蒸發左去邊? ...

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正係咁樣0 t, A4 ]" T+ R' c
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0 S+ N/ \1 g# G5 _. f. \' |; X1 {) I
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,
  U# U9 [9 B: H1 c4 n! ?) G連國家都係問人借, 不停發債券, 印鈔票# Y- z( K- C& u. }5 S
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
; i7 i: D6 H% t+ Q9 d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) @0 X" D8 T3 C* c! T& ?0 i
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 H( Y' b" n# ?+ J  g, N: y7 f
因為以前未生產, 先消費8 r( _, ?  s3 ^- `; A8 @, G: p0 h9 L
而家就要多生產, 少消費