0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 E- {% u" [9 r; WWhy bank will sell 借據給第三者???" x9 {: t. B2 D' E* D3 k
I was so confused.....

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3 f: f7 J1 S7 p講到尾都係賺錢
/ M- e* e  s$ P7 Oso銀行可以不斷放款
& j: {4 z( Q7 m$ p美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities), x& v4 [# ?) ^3 J) O0 p3 m
>arranger
' z7 o: u: \/ ]0 l9 ]- Q4 U" n% [/ l>CDO(Collateralized Debt Obligation)
: ^; c' z. L; i2 |4 Y最後去到投資者

Kev

i thought it is the reason of rate of return.8 f- r5 I" Y' W6 `. x" g
CDs could have different ratings, AAA -> F,
6 o5 t( S9 h. h/ {5 _& ?/ K1 ~( xmore risky ones would have higher premium (interest rate) as a compensation for an investment.
: A" e1 x: I) |( qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& R; r2 ?" @3 f( r" iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 o; \) F  Q( e" d) y: i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 t& E6 @. q  K: u2 N- _+ vsimilar to bonds, CDs trading in the secondary market have different value at different times,
, @" c4 S+ b/ ~1 m# W9 Nnormally the value is calculated by adding it's principle and interest. 9 p4 r/ H- w+ R, u. r( f  G
eg. the value of the mortgage+the interests to be recieved in the future. 0 S4 B, t: V! ?. P! ?' ~
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.3 X  }1 o7 y0 W4 P7 s
' x4 S" J' p1 F
im not quite sure if the multiplier effect does really matter in this case.
: l: V9 q, }# u. Win stock market, it's the demand and supply pushing the price up/downwards.
# U8 ?" J1 G: ]; f  }2 uFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# P3 {9 A! i2 ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! Q$ ]1 B" ?5 d0 o4 s& iThe 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.
* ]: n7 I' r- [6 J* Q5 Gbut the value of their assets did really drop significantly.
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" ]0 Y; s7 r4 j9 S7 v4 y[ 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 y% f4 U! e; ~! M0 M% G
Refer to last example,
5 T: H* z8 Y" L7 Q% F2 f$ mthat means bank A have no money because we borrow 10 dollars from bank A . R* `3 w1 n: \4 K* O- i6 m3 A$ o
Because bank A doesnt have enough cash on hand 3 m- t2 [. `  U8 I& Z2 f" B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 A0 J7 x" Y+ _( S7 z9 {2 K  v0 bA->B->C->D->E. i) J5 p- ^+ [, y* m* R( h
so does it mean if E failed to pay D, + d; \% s3 q; w  C2 Q
all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
8 I; d$ X5 V, R3 tin this case it doesnt really matter how much money is created,
3 ~7 {4 G+ a% G# X9 g4 hit's the problem of the debt itself.
& q1 R& {# P4 y: Q: jthe 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/ j9 \& a2 ?! `3 ]: F3 `
小弟一直都唔明...$ P  ?: V" C; j. u

' J% j' z: N: U! ~全世界都蝕錢，咁邊個賺緊錢呢?
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- H( Z4 j, w8 n( Y( [2 l: a無可能淨係有人蝕錢無人賺架嘛...! K2 B8 b& @& V' M5 W3 I9 R

$ w5 X: O9 ^. _  q. b敬請各師兄解答
6 B! B2 ~/ H. q+ U8 ~% J* ]3 [$ @# v' T
Thanks

$ C6 Z- U. `* r+ T4 x那些根本係 紙上財富  
4 d, e) k' U: [, `- Z5 _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* _) p# B1 r8 V$ b% e" v
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高- ?: U  L+ @! K) L* M
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3 [/ F& q* u; Q0 z; E6 @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 ~# W* d1 G9 U0 N, a, B: U6 `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
; {6 _% [  _2 |5 i2 {. ^5 W計番回報率就已經係50%,所以可以好好賺2 V* q7 Q: |/ X1 B
前提係銀行之間要互相信任先可以咁樣借法9 D. @" a# S& j' V. o9 d
同埋個市場既前境要係好先得
, l9 l+ t& V9 Z0 R- U1 k但當經濟一差,公司估值趺了,物價不升反趺
& s' L" J& @/ ~6 Y% u例如剛才說10蚊的, 趺到得番9蚊,
  p7 }8 ^' h1 M5 ]# o咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( ~" x+ u6 P/ T7 m
所以你就會覺得D錢好似蒸發哂咁, @3 v3 F4 }  B- p2 b+ `6 w
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你都可以當標野咁諗, 個樣野多人可以狂升值,   l: D9 k" V* I: J3 N; [& H+ K7 b
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; [# G. i/ w5 U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 {! Y. R. `* J. `6 ?2 p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
4 ]8 y2 c2 m  c$ j* X( J, ]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
" w; E  J* e/ ^! G5 k7 f1 B( R# J. w唔係d錢蒸發, 而係比美國佬洗晒未來錢,
2 ~7 p' e9 v9 h! u. f$ m4 B9 N' i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # h. F; d5 k" h: r9 {
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 @* ^5 _0 Y# o2 Z8 H, q
咁你話d錢蒸發左去邊? ...

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: I! f9 C. e8 c正係咁樣
* b3 @5 F, p/ b, ~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
' ~+ k+ x6 ]8 Z- R分分鐘佢地唔使還錢3 i; X  n, s6 w) _

) n/ c. r' C0 T) s% Y8 K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,6 W+ U9 b6 R: d2 w; {) L# M
連國家都係問人借, 不停發債券, 印鈔票
9 K5 r/ h4 ^8 J3 v0 i4 l: @  k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* e8 t5 i. P& u
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( Y4 a) D- D/ F! N7 }3 w
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ A4 R6 d" g* y# j' y其實係...' i: E# g4 v% R5 T0 }
因為以前未生產, 先消費
$ A$ V, ~& y$ k$ [4 v5 }9 `而家就要多生產, 少消費