0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 G$ q$ O# O3 ]: Z2 E1 G  U6 g4 pWhy bank will sell 借據給第三者???
& F) }7 e2 E2 g0 o1 z1 N) II was so confused.....

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7 S: M$ E. Z, `" L7 A3 G1 v講到尾都係賺錢8 x5 j7 F' [' F
so銀行可以不斷放款# ^/ C$ ]/ \' k8 @, h. }6 ]6 U6 q
美國的房貸問題散佈到全世界
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* I/ |1 ]" P" H% j. x9 w) Hmortgage loan 7 \' ?% m, }: J/ r/ A1 R
>conduit
- E4 {, }$ L4 o- b/ c>RMBS(Residential Mortgage Backed Securities)6 g# {" \: y3 n; n" [  f8 L
>arranger
  ^8 r8 {7 h/ x. t$ o  n+ S6 K>CDO(Collateralized Debt Obligation)" ~0 c$ v- J5 e5 T6 u  ^& U& F7 {
最後去到投資者

Kev

i thought it is the reason of rate of return.& r6 E. N6 ^$ w. U# c/ Z
CDs could have different ratings, AAA -> F,
& {- X( }5 w; @5 g- c5 \more risky ones would have higher premium (interest rate) as a compensation for an investment.+ f$ Q, `  C  C9 M
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: W, t# `3 T* L1 S
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* r1 S0 j2 W5 V8 w" e7 {2 J2 hAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ b9 Z7 W: \& ]- z7 psimilar to bonds, CDs trading in the secondary market have different value at different times,
1 r! F6 v6 X* g9 T8 l6 B* G6 ~normally the value is calculated by adding it's principle and interest.
. G- C( d" e2 |6 b" O4 i! Deg. the value of the mortgage+the interests to be recieved in the future.
2 p) I" |# M9 b& }0 Ibanks 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.# P5 d& n' z: G& ]8 b4 q4 V/ F
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im not quite sure if the multiplier effect does really matter in this case.5 a" X% {9 k. ]0 c! r
in stock market, it's the demand and supply pushing the price up/downwards./ X9 }( ^9 o1 Y7 K7 u' H' O
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 a0 G( r) e4 _# y8 `9 w5 h
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% k, X% @9 g8 ]8 O. 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.
: u2 L( p) [- n0 `# Mbut the value of their assets did really drop significantly.
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/ o! D3 K. X& l# ?& j) R* W[ 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" ]& _( G4 c# _( y$ ?
Refer to last example,7 s/ n5 Z( k7 [
that means bank A have no money because we borrow 10 dollars from bank A # Z% [8 d' w  n
Because bank A doesnt have enough cash on hand 2 G, G" L' `; |5 i' e' X7 r" a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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$ i. v% _+ I  Z6 hA->B->C->D->E
6 ]5 [4 I  R  ^so does it mean if E failed to pay D,
, _6 l% A% K3 Z/ Mall the B,C,D,E have to go bankrupt?
, y, X7 v/ I% ?& Y6 n7 ^9 H7 [& I+ U. F  v, q

  X6 o+ ]9 I. J$ x: S/ uthe multiplier just tell how much money created in a whole economy, 0 z- t* }: b7 n
in this case it doesnt really matter how much money is created,
; J7 |( W: t6 Zit's the problem of the debt itself.
) h" I# ~" _. D0 w$ p5 cthe 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.gif8 T7 G  e/ \) ^" U4 u
小弟一直都唔明..." |& O2 Q* T4 J0 t+ u
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全世界都蝕錢，咁邊個賺緊錢呢?
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' r; h6 `- h3 d. 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# D1 Q( X4 q# o, R3 t# M
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Thanks

3 U  l! ~3 C  ]4 X那些根本係 紙上財富  
0 e4 M# }$ X$ P) r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" f  j  g/ C5 c4 t

" o* E: Q- k) Vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
6 ]7 s$ x( _6 C- r0 h5 t# r* R當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# z- h; _$ t* X& Z/ ?9 P  ?1 {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) i- N4 Q4 C* E  \3 S" k0 T
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 ~% L8 k# ]3 _: _9 G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, z' P4 m, G, |+ r0 U# m計番回報率就已經係50%,所以可以好好賺: \- k6 {% I0 M( L3 F
前提係銀行之間要互相信任先可以咁樣借法2 p4 K2 c+ u5 u+ f9 ]/ i& a
同埋個市場既前境要係好先得
# G: I9 u9 v9 p$ B# k7 w3 \9 L# ?+ Q! s但當經濟一差,公司估值趺了,物價不升反趺( l, A. V6 o4 t/ a
例如剛才說10蚊的, 趺到得番9蚊,
7 d* O; d2 j% s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 q* h1 _; ^/ i' o' `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, " z( f8 @. n2 H+ P6 a7 M
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, 6 \+ h8 g" ~1 M' n# z4 n; h/ r- j
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( o  g. M2 X+ }2 t) r9 A: 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0 ?& B( n7 `8 W! E5 {& z% p3 U
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.gif9 \1 X; I- O- i4 d
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 J- Q/ ^8 f- c7 J7 H' w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * \: d1 g; E% d; N2 Q2 p6 O
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
. R) |1 r/ T" _7 l% l, |- B咁你話d錢蒸發左去邊? ...

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正係咁樣7 {" y& W7 |. I5 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
9 i* m  H; z& q, K, L9 p9 A分分鐘佢地唔使還錢# D+ F4 _/ _" G3 ~. g4 N
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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,5 C. ~$ C* i3 @1 U: k) W& B
連國家都係問人借, 不停發債券, 印鈔票2 O7 J9 t, R4 N& g* `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 P4 I' K/ H7 F5 t6 _7 |5 s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
$ r& q) y' z! I0 S咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...% }7 j* Z) g1 s% W5 u! r
因為以前未生產, 先消費9 N/ a3 K8 Q; p0 r" l) F
而家就要多生產, 少消費