0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. t0 w2 i, }# U: ~5 B/ n, @. WWhy bank will sell 借據給第三者???
! g: d% a/ b$ Z' cI was so confused.....

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講到尾都係賺錢
1 u7 _/ k% S$ G# M" U& kso銀行可以不斷放款
, @9 f8 B* b8 N' X: {美國的房貸問題散佈到全世界
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/ [5 x! t: o& R% J# A% X! rmortgage loan + m8 r% G* }6 z% T: F
>conduit, r8 o1 C, K% [' C/ ?
>RMBS(Residential Mortgage Backed Securities)3 @5 B5 H1 U  }8 H, |/ x1 |
>arranger
8 R/ q' _/ T/ D- ^  w( v1 G" m>CDO(Collateralized Debt Obligation)
: Q% D, ]. c/ i最後去到投資者

Kev

i thought it is the reason of rate of return.! R4 ~2 g9 y; f6 d8 Z
CDs could have different ratings, AAA -> F,) W) B: C1 e2 H5 ?" @
more risky ones would have higher premium (interest rate) as a compensation for an investment.
8 s) v9 u4 f3 C% p; H7 q5 Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* w6 @! P6 u9 e% [8 v- d4 Y% i& w- iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 {2 [/ ]5 w- O4 k+ ~" a' i$ J* G( tAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 o& P5 M9 T0 f4 A) k
similar to bonds, CDs trading in the secondary market have different value at different times,
# u0 N( a; ]+ q: Dnormally the value is calculated by adding it's principle and interest. 3 q) A+ E6 H5 w. Y6 o1 I* O' _
eg. the value of the mortgage+the interests to be recieved in the future. - L5 j& u. T3 l+ @7 a5 d! M
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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im not quite sure if the multiplier effect does really matter in this case.
) ~" c3 n+ u  D: p" m5 vin stock market, it's the demand and supply pushing the price up/downwards.; G. s, p, S4 \( [2 Z% A; _
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  T9 i# i$ [5 r6 E! [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 D$ G6 R- a' f8 [$ _1 `
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. 4 Y7 w! j3 a5 P  s
but the value of their assets did really drop significantly.
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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
5 D: i! o: t0 y3 q9 h" D% x  t: _Refer to last example,
* K3 }$ \$ b+ W# F/ Lthat means bank A have no money because we borrow 10 dollars from bank A
& s0 L" ^! D% D0 f; KBecause bank A doesnt have enough cash on hand
0 j- f- ]: ]  }' dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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9 q6 Q2 s2 B$ T. |0 J# M  _
9 M9 U- |: A# N0 _6 Z4 z0 E4 M! G* {A->B->C->D->E
8 B+ l7 }: i8 B5 K8 q. @so does it mean if E failed to pay D, " @3 @0 H2 \) X2 j( O
all the B,C,D,E have to go bankrupt?* y. b6 N% C0 D& R

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the multiplier just tell how much money created in a whole economy,
3 l5 I6 r7 H4 c3 H* f; @+ Bin this case it doesnt really matter how much money is created, 8 h$ v1 L9 C! w3 `8 t7 s- x, S# S
it's the problem of the debt itself.4 U+ n& L# u+ ?
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.gif- [6 R$ D. z3 f- M. n  R# d( E. G8 g3 B
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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! Q3 ~. s; O! [+ ]( |+ p無可能淨係有人蝕錢無人賺架嘛...4 @& [6 q# g  J! e7 [1 f

7 V" m6 y. ^2 U  W' M8 o敬請各師兄解答
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( K: s7 Z' P. Z, w* j# M- jThanks

6 W& ~4 M8 N: Q2 |/ }8 M- Z0 U8 F那些根本係 紙上財富  ! u, D/ t0 v, f8 I( W
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 graphic6 v7 [8 d2 @0 m# N  Y- P
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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1 C- i8 A+ ^; W6 V2 z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 A7 F+ m% m: b0 V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) l( q& C0 ^# ^) E2 L
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 z+ o" f0 Y) v1 `扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
5 u$ M$ F5 R3 r8 ]. t4 R* V* i計番回報率就已經係50%,所以可以好好賺1 z+ z. B  t. ^+ }/ ?1 R( V
前提係銀行之間要互相信任先可以咁樣借法
, Y9 L+ {/ {/ w& r: ~) u同埋個市場既前境要係好先得% W, D/ a) C, Q$ j# C
但當經濟一差,公司估值趺了,物價不升反趺
6 w* G" z5 a2 u* D' L5 V- u例如剛才說10蚊的, 趺到得番9蚊, " g- R9 T/ {4 Q) Z* c' U5 S
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 |( V! q2 q: T& a2 z4 Q
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, $ Q1 a% o8 i1 X  O: Z- W% R" s! q
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, ) w8 L3 l) s, p' j0 ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ A  C3 s" X; r8 B" T' u% q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 Q; P5 C! |7 C8 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.gif, A( ]! M' Q8 }- k5 h. t( l
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% r, P* H4 H' y) u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
4 @1 S9 a. W; c3 |# k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/ O7 o' d: c6 }; s+ b+ A% s
咁你話d錢蒸發左去邊? ...

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6 K- e4 J3 A9 K正係咁樣
' S7 {& b9 |4 H9 p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2 ], o& x. y" v3 d+ Z
分分鐘佢地唔使還錢' K/ C8 `8 I# H* `" b) S

. {' G3 o% e3 C6 @* l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,  n+ M5 ]5 j# \2 ~9 q
連國家都係問人借, 不停發債券, 印鈔票' {$ v! z! o2 D9 ?1 t4 D
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產4 V7 h  _# a" o# _1 `( a9 c- R
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
/ {+ D/ L  a7 Y) U2 |; p/ M咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
/ l5 F5 ]/ p* u; E6 T因為以前未生產, 先消費, c$ A- z+ q3 O- g/ a. V
而家就要多生產, 少消費