0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 d- b0 C; v; w1 ~7 W6 p( |. e3 Z
Why bank will sell 借據給第三者???, d" W4 }1 j1 p1 @; t/ q( o' Z
I was so confused.....

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8 t6 g0 C  J7 G: N1 \講到尾都係賺錢2 c# M' L* x+ ^8 D  e
so銀行可以不斷放款# ]1 s- a2 L8 L. }
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)/ W! J$ W! Q/ b4 e! D) y- O
>arranger
- G" y# s: C1 T! V2 n>CDO(Collateralized Debt Obligation)! x; N6 y2 k0 k, [
最後去到投資者

Kev

i thought it is the reason of rate of return.
2 m$ V8 H; |: _6 m  R$ j, _5 wCDs could have different ratings, AAA -> F,
. v% |& O$ _% ^) r- gmore risky ones would have higher premium (interest rate) as a compensation for an investment.
9 |% }7 y. H% t* U2 {/ jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ t+ i) D8 x% j. e  r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 G3 u% t# J0 [2 ^5 K- b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- K$ Y# Y& b8 I/ ]' ^$ x8 t; e* Jsimilar to bonds, CDs trading in the secondary market have different value at different times,: O4 y  V( _/ A* O# N
normally the value is calculated by adding it's principle and interest.
( r: w( q5 [& H# A1 ?6 ?6 e- U& _eg. the value of the mortgage+the interests to be recieved in the future.
9 ^' o4 x  O; abanks 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 G8 H; h' }* O: U; s" P1 g  gim not quite sure if the multiplier effect does really matter in this case.: p# i7 _4 n3 q9 W6 ]
in stock market, it's the demand and supply pushing the price up/downwards.
' N1 ^( c( E* {* K  zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 ]9 H4 Z2 A1 E/ @A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.1 r" \5 p& ~  W: i; o! M* s, l
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.
' g1 P& l+ A% jbut 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. ?% O; }" Q' [8 v! L, B- J/ C. W0 M
Refer to last example,5 y8 Z/ P% j; ~0 v
that means bank A have no money because we borrow 10 dollars from bank A
, d8 D4 j+ a' l. Z! `0 j6 T  m- wBecause bank A doesnt have enough cash on hand 9 s, I7 S& x: {1 a* g
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 Y4 ~% [5 J: Q! zA->B->C->D->E- V& }- g8 K' o, h
so does it mean if E failed to pay D,
$ e! b% {8 F8 y6 ]7 H% t- oall 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,
9 Y) m  f5 C6 b$ Q5 nin this case it doesnt really matter how much money is created, - l, k- v6 T% ^: C5 {
it's the problem of the debt itself.
5 l' J+ @9 H2 l8 J$ ~; Zthe 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/ ~2 t  d" S4 M6 u3 d) P- c
小弟一直都唔明...* [( I3 ~4 c( Z" w$ d* J

+ W9 ^/ q5 k; z全世界都蝕錢，咁邊個賺緊錢呢?
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8 I% b! W9 j1 \( T6 g無可能淨係有人蝕錢無人賺架嘛...7 ]! i4 G- x* o6 U5 k' V

$ A4 ^1 U: T7 i% s敬請各師兄解答( l2 h" h2 Z  N+ R

2 r5 Q- \( j+ U" f; P+ p3 i& TThanks

: A4 @& `) e; U1 ^" F/ V& f# U那些根本係 紙上財富  1 M5 B! v4 `5 J$ b% n
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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2 M2 S8 @0 e6 O% I, o( N- Xhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
& p3 H( p$ Z1 J" Q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ `- z* G% a: S2 k7 V# @4 F/ X
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 ~" T6 a4 o9 r5 a1 E  Y) K
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  m  u; i3 W0 |3 M
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 v6 T: c7 I5 ~1 j: S* k
計番回報率就已經係50%,所以可以好好賺
# I1 i" l1 Z( a( k前提係銀行之間要互相信任先可以咁樣借法
/ G8 D- `5 \. f' e: ]; W同埋個市場既前境要係好先得8 D( c' `! I. Y8 ~5 p3 n! K' P
但當經濟一差,公司估值趺了,物價不升反趺! M! f; K/ U7 D3 K
例如剛才說10蚊的, 趺到得番9蚊,
; m1 y# Q7 x3 e; }咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ n- b& O& G+ P  E# \& W" y" [1 a$ h. k所以你就會覺得D錢好似蒸發哂咁
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8 n8 r: b! k+ }! Q# c" K你都可以當標野咁諗, 個樣野多人可以狂升值,
  q( o& d0 m' p& z) M9 x! L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, " A$ P4 \/ ^( h3 a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / V% Y( ^1 y- R  Q6 F
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
( b& l4 ~$ E# A  ~7 I) M- A$ ]* }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
) h6 T; h- K5 m, K$ B. r% L唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 d8 ^1 u$ E6 X+ O5 {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% p. Y" H, [, ?+ W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; m3 ?" p+ V( @7 S4 N+ Z. P& g0 r
咁你話d錢蒸發左去邊? ...

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% F+ W8 y' \- {- C正係咁樣2 W7 G. p0 p! n- Z0 D
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$ E9 C9 o; B+ p  v. _
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,& v+ o( }& f1 d
連國家都係問人借, 不停發債券, 印鈔票0 A( o+ b1 ^1 N- h" s
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; n. ?2 \7 d- k1 g& P8 p- h) i
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
- ]' x- M8 e# _, w% i: b咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 {( V, s' z1 i
因為以前未生產, 先消費% E/ [! ?( T" a, \
而家就要多生產, 少消費