0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: s) f) c8 g; \8 j$ [+ |Why bank will sell 借據給第三者???4 j9 e  K3 U  z0 m1 N" j0 y
I was so confused.....

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/ c- b# }6 X0 r# n1 v講到尾都係賺錢) O. V& l, ^$ Y& |7 f! D
so銀行可以不斷放款7 O& P" V7 M2 B7 X" I5 W
美國的房貸問題散佈到全世界* H- X. D) ~4 R, H$ N
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mortgage loan ! T  R& n7 l3 W6 o& r; u1 ?
>conduit% l+ P' z; h$ b% a6 S7 ?& {
>RMBS(Residential Mortgage Backed Securities)
' t+ w- q& ^& _& O! P! A>arranger
9 m6 d* D7 W# G) `( k>CDO(Collateralized Debt Obligation)
% }% ]: g" ^  X0 [. w最後去到投資者

Kev

i thought it is the reason of rate of return.) V; p9 H7 d; v9 a* m
CDs could have different ratings, AAA -> F,8 Z+ w0 ?. b& M* s  A8 O+ \" X' G
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 d$ F! d9 {. h/ p( W5 p! ]
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- p; V6 A7 f. [* G/ b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; a- g: L' g9 ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." P* w. M4 X0 L% h
similar to bonds, CDs trading in the secondary market have different value at different times,
1 d0 s: Y9 S# ]2 y; \7 rnormally the value is calculated by adding it's principle and interest. + ?3 i8 \. @( C2 E# _
eg. the value of the mortgage+the interests to be recieved in the future. 4 n* i0 ]8 I6 z$ g" Y
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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  a  N: c3 ^  c% p8 b0 a/ Mim not quite sure if the multiplier effect does really matter in this case.
/ [. z+ B1 u& t9 V3 H+ T6 Nin stock market, it's the demand and supply pushing the price up/downwards.( C' t, p& x6 `+ J/ E" J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,, K5 W: R- N  o- s3 \
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 a1 Q7 o; b" j1 }( _/ U8 t' uThe 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.
% N* Y0 C8 W. ]; r' @3 y8 xbut the value of their assets did really drop significantly." M5 S7 I. I2 {# \
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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
, d) \9 W# D0 f( w( o" bRefer to last example,) A& i8 N- ]8 U/ b: w0 _# I
that means bank A have no money because we borrow 10 dollars from bank A
: Q; U3 R! L9 _Because bank A doesnt have enough cash on hand
/ D- Q3 d* q6 G: R8 xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: p6 u3 f. c" @0 i0 n$ oso does it mean if E failed to pay D,
: O. C  q" u3 {( Nall the B,C,D,E have to go bankrupt?' [5 t; D0 `9 \. n! s
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0 p: e: x4 e% K3 p, W. Uthe multiplier just tell how much money created in a whole economy,
# e3 a' w3 O( d+ d' z( a. w$ Fin this case it doesnt really matter how much money is created, * N) k9 g; f8 F5 N
it's the problem of the debt itself.) X4 Y$ [3 C8 x/ C0 B/ [
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& j: _/ P; ~$ }: n5 K
小弟一直都唔明...( M- k9 a+ R& s5 `
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全世界都蝕錢，咁邊個賺緊錢呢?
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& o2 p6 C* |" U, p1 G8 s+ ^# e無可能淨係有人蝕錢無人賺架嘛...& T3 V3 q+ ~; |4 k* \# @6 h# H8 o' g: }
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敬請各師兄解答
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Thanks

! v9 `' f  g3 H6 x那些根本係 紙上財富  
4 v  K, k/ y$ B( i: R% o5 ]1 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
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7 Z+ @/ |0 B$ s  x- X% Y, Hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產% d1 F- E5 A! n' o
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( o' v; \& l8 m) y6 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
9 `. Q# h1 V& u# u) L* M% M' z, X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 m% `) b: I3 n* C% H  u! `' Y) v
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 e4 [  p' k) R+ L9 r' j計番回報率就已經係50%,所以可以好好賺
- W" R+ K" h, t; v前提係銀行之間要互相信任先可以咁樣借法
2 i' w: S/ P. |* @0 e( |同埋個市場既前境要係好先得! `' C+ E- r5 J! s8 {! `' b
但當經濟一差,公司估值趺了,物價不升反趺% J1 t4 \/ b8 f: W% O- l
例如剛才說10蚊的, 趺到得番9蚊, 5 ^& J6 _! `1 z# T( K; c- z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ \/ d$ m$ J4 X1 z. S- m
所以你就會覺得D錢好似蒸發哂咁0 Y; M: q7 r8 A% `; P

! Z6 h* R  Y1 p7 y你都可以當標野咁諗, 個樣野多人可以狂升值, - L: A2 ~( V6 V4 k5 N  X
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,
1 {  t$ e) E, [& U2 f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ! [  E2 V( ~1 H1 z8 H
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" K& S  z4 _5 F) l
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
9 |2 y9 ~9 d/ f1 \) O/ V4 r唔係d錢蒸發, 而係比美國佬洗晒未來錢, % T$ y5 N4 X0 ?- K5 m% ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) g, M3 C. x* v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
# s* }/ q; `! @* ~咁你話d錢蒸發左去邊? ...

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正係咁樣
. _) Q9 ~) f1 V% t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5 e% {9 j7 C2 X$ k# W0 D0 W
分分鐘佢地唔使還錢' ?; v* F$ O1 l8 {: H
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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,
- S9 l) i) d. F: Q; U" J0 x連國家都係問人借, 不停發債券, 印鈔票7 z" Q6 A( f) S. {; q5 q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' N5 V, ^1 l7 j# }% c
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.gif6 d8 {% x4 D9 e( [6 |3 u4 F' w+ z! A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係..., p; X- q. V( d3 g* M# y+ V. v
因為以前未生產, 先消費
& c0 q/ M( g1 S) _4 i7 F9 W而家就要多生產, 少消費