0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 \9 y# _, {: a6 m: T/ }) ^Why bank will sell 借據給第三者???, N' p" R  ?+ O! {: d
I was so confused.....

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( F" O/ i: ]& ?$ I7 w. ^0 M& r講到尾都係賺錢
, V% y$ D7 R$ _$ rso銀行可以不斷放款
, p# L! Z% d% t# o; w9 h美國的房貸問題散佈到全世界% k+ r( d/ M7 J# m
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mortgage loan
" _6 \' O& d- C' m  `' v3 O; k>conduit% d8 t9 Z. V0 R4 p" _
>RMBS(Residential Mortgage Backed Securities)
" Y% i+ g# s; C>arranger
; f  ?0 W; D/ }. B( s0 ~( z& d>CDO(Collateralized Debt Obligation)
2 Q( ~9 W, \. X' w! L/ [' Z$ t最後去到投資者

Kev

i thought it is the reason of rate of return.
2 l  j" M; Y( ^5 F- k7 G+ dCDs could have different ratings, AAA -> F,8 S  Z; y: I- y) |0 v5 O. b* }/ ?* l3 X, D
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ Y; G/ S/ L3 H/ s* ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 E0 x& H2 Z; ~4 V4 [/ O: O- [" ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 s* [; Z  ]8 H* g2 N7 ]! n, [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) @. w5 v9 B- p" ssimilar to bonds, CDs trading in the secondary market have different value at different times,
. _' @. Q" r$ y0 knormally the value is calculated by adding it's principle and interest. 2 ~* w, t4 k, G) n( D2 r/ W
eg. the value of the mortgage+the interests to be recieved in the future.
$ _8 [% K- x# v. V- kbanks 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.: R! Q. w2 R# ?

0 D# L6 C  X6 K+ @" Q7 O* mim not quite sure if the multiplier effect does really matter in this case.& U$ O* K- F$ O. S5 @
in stock market, it's the demand and supply pushing the price up/downwards.2 p3 F* p" s  L8 v4 b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( x2 m$ e; c& T! W
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% z! Z( @8 |/ b* v2 n+ p" S
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.
0 z" T% p; M2 [" M  [but the value of their assets did really drop significantly.3 x! V) P+ Z/ ]/ h

: ^. @/ e( u' h& g0 Z7 U[ 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; H8 U$ F* ]  w
Refer to last example,
& d$ Z/ I0 I+ L# u6 S( `+ fthat means bank A have no money because we borrow 10 dollars from bank A
- \+ h6 W: @# u* F5 D% L/ Z) Y# y. ]Because bank A doesnt have enough cash on hand
4 c$ N( a7 g( Q1 _4 D' V) Ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E3 O% f2 J  A2 `. o5 ]. ^
so does it mean if E failed to pay D,
8 M6 Z1 `" s: w  E9 T+ vall the B,C,D,E have to go bankrupt?/ S8 }9 g3 w5 j9 k0 F- r
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9 m0 M" r5 t; d" l9 D: b! W
the multiplier just tell how much money created in a whole economy,
0 J, G" U7 O8 z. u1 ]1 R! qin this case it doesnt really matter how much money is created, : {7 O( J1 Q. J0 z
it's the problem of the debt itself.
) ?) p5 ]% r. I6 B& Dthe 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
1 m0 a( X8 v( P9 a" b小弟一直都唔明...
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3 q/ f' Y0 W7 X; T5 N! N全世界都蝕錢，咁邊個賺緊錢呢?5 m" P( M# e0 D
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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
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7 S% w* O* v+ G/ q. w8 {3 ~3 l2 WThanks

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那些根本係 紙上財富  
7 j7 E# i/ k" ~; d9 }) i7 e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
5 Q* Y+ R% k" l! }  B9 p- ^: x2 T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高2 p3 T0 q- v% m8 a7 e) c
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 [9 w% B: m  K6 S! Y: I- k0 d9 X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( K' ~2 u" \$ z4 K/ D
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* P4 B& x! p, O
計番回報率就已經係50%,所以可以好好賺2 t: ~2 C2 W4 i* S
前提係銀行之間要互相信任先可以咁樣借法
: _4 y+ U5 {) H$ a0 c同埋個市場既前境要係好先得
' [* Z9 b6 D  Z9 l; c" d但當經濟一差,公司估值趺了,物價不升反趺
/ L& q4 S3 }5 V6 R) L( ?. @例如剛才說10蚊的, 趺到得番9蚊, % u, h* p0 ?& |! d8 e4 J4 s+ M# C/ V
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 D& l8 }* m: n# \* C$ C* H所以你就會覺得D錢好似蒸發哂咁: _7 X% I1 }% e* e6 ]; U, n. `

" t2 d% L+ ^) x9 e5 ?8 x你都可以當標野咁諗, 個樣野多人可以狂升值, 4 ~# }5 a2 o3 H1 x  i1 z; ^
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,
( G, G2 p2 |, \8 ]7 T7 k7 [2 d淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ I4 f1 ]$ B4 l3 Q! q) 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. R  }, w( O+ {# y4 g4 f
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
. D: P% O7 J7 v8 e. _3 S唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 m- U/ J+ J+ a8 A0 U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- g& ~: v1 }- Q' Q) `1 R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
: \) w& U# Q' `* w+ ~6 t3 A2 J咁你話d錢蒸發左去邊? ...

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' h5 z: t! |* F  w) j: J正係咁樣9 u  j+ I/ T6 T$ P$ v, a, h
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
# h: Y" b2 B+ c! z" A分分鐘佢地唔使還錢' F  B8 I" n0 W, J+ \! d

; {/ O- C" f# t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,7 Q. ]$ u7 ]" |: T0 A' [* R
連國家都係問人借, 不停發債券, 印鈔票/ M: e% T* T* t# j  h9 v" A" G; t
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( u6 z" U! y1 u2 z! v; [
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
8 c% b% d* s9 A# |咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...+ m) G5 [2 W8 y9 q8 [
因為以前未生產, 先消費
# k; F4 D( U) o: N8 y. o# o5 x而家就要多生產, 少消費