0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* j9 D5 _+ ^6 oWhy bank will sell 借據給第三者???
* p" U; s5 ]/ T0 }) g/ m! }+ ]# cI was so confused.....

0 t4 B! Z' ^8 b6 m' F6 M* d4 F0 o+ }, x
講到尾都係賺錢
" D) Y% W$ x* C, D, X* x; Yso銀行可以不斷放款
# @: I; h0 X3 [2 k, S$ `/ S7 k: D美國的房貸問題散佈到全世界; h0 I! M8 `0 t2 Y
( v3 h( ^7 {* m/ W! m
mortgage loan , F$ p4 J, |, C. i7 c& K- f* y- q+ |: o
>conduit
- w; a) `' \# B9 p7 u- _& \3 a0 p>RMBS(Residential Mortgage Backed Securities)1 q, y9 j& X- O9 d+ S( g, p3 |
>arranger
1 i1 e! U/ l3 p0 r8 V4 l: s) e>CDO(Collateralized Debt Obligation)5 O9 i" Y, ^# a1 M% Y! p8 _
最後去到投資者

Kev

i thought it is the reason of rate of return.  B5 n( u1 K- D5 l3 ^
CDs could have different ratings, AAA -> F," w% }) l" U& o  r# H- A
more risky ones would have higher premium (interest rate) as a compensation for an investment.' _, j7 [9 A. }) e7 k; V' j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,! {- Y0 k% I- j1 |/ o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 z9 T( w3 |. q9 S. S# l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; I+ f6 b5 p# B9 |* \8 q3 S' o
similar to bonds, CDs trading in the secondary market have different value at different times,
  u/ ?6 ~, b$ ]7 L) Snormally the value is calculated by adding it's principle and interest.
, \4 r: m/ r$ X/ [: e' Meg. the value of the mortgage+the interests to be recieved in the future.
8 E5 f0 u: \) n: q4 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./ s) f+ C+ E; o8 u* i
7 ~, @8 T# B& N& |
im not quite sure if the multiplier effect does really matter in this case.; \% m) S. D& G+ p- l7 j
in stock market, it's the demand and supply pushing the price up/downwards.
* |3 {8 B2 _! {9 h& S/ _For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! x8 X  n$ F6 ]4 H& o- ~6 t& k
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 Y: y0 v$ L* ]  a' T4 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.   a6 Q! ~( t  a
but the value of their assets did really drop significantly.  G3 o8 G0 g+ ^

3 o2 F- G/ a( r7 d7 Z9 J$ O% l[ 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
& k! Q+ d& k. N  c' M9 a, r, |Refer to last example,4 Q! x$ x3 M, X, A
that means bank A have no money because we borrow 10 dollars from bank A
! f! a: l# s/ j. }9 O) r) w3 UBecause bank A doesnt have enough cash on hand
5 b) K! l  \, M/ ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

/ S! `2 q% A3 ~! M- w' G9 G4 `; l  b/ p+ M# I7 y

5 k, T( I. v/ OA->B->C->D->E2 M' a; H# n. t6 W* Y5 G
so does it mean if E failed to pay D,
. Y( M4 R+ a0 R- l# C# m7 Q* jall the B,C,D,E have to go bankrupt?8 R, j! v" D- v' \5 c

* }5 z0 }9 C3 A2 ^1 _+ t* Q5 _: b6 G- F2 A0 r! `9 q2 E0 l
the multiplier just tell how much money created in a whole economy, 9 G3 y( b$ U4 Q4 y' @1 b
in this case it doesnt really matter how much money is created, - x# d; n& ?9 _1 u% w$ Z
it's the problem of the debt itself.0 P) @4 I7 i3 |1 q! c3 V2 k
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
3 N( ^3 r& U+ \! I  S( \( D小弟一直都唔明...
. S: ~- L5 Z! S$ A0 N7 g
9 M+ O$ b( l8 k9 t; w/ }! Q) M全世界都蝕錢，咁邊個賺緊錢呢?- K2 D1 p' [7 M6 g7 _

6 F( d( f( P( N; ^4 M, B% A無可能淨係有人蝕錢無人賺架嘛...$ }2 T  _3 U4 `; K
8 m. R" F9 n6 l* f5 ]5 S2 D, }: V
敬請各師兄解答
% d# N# S  @) P, e7 `# q. f( w# G# z4 q  l* i
Thanks

' E; J+ p2 N( X3 g, R
那些根本係 紙上財富  
: b- u" Y' b$ R# ?  q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
7 E" W# s  v- U4 h# V7 A$ S4 v- E4 l0 w" \% D0 E  J# {2 x% J* E
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
0 C% t3 I  E- V4 b  i/ i* g當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) d' d$ @" X4 z" h4 F, `
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
$ s# P, ?* w% f' }; H0 {. ~個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 K$ e1 r6 M7 ~- }8 Z* u" }* r
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ b$ w  L, [3 G; h% t1 Z+ e計番回報率就已經係50%,所以可以好好賺# A4 e/ h+ G9 \: w* b6 i# H6 t
前提係銀行之間要互相信任先可以咁樣借法9 D% y& r. m$ y% T2 c: d8 l
同埋個市場既前境要係好先得
' F5 V. J+ f: U+ n( S但當經濟一差,公司估值趺了,物價不升反趺& g+ f- ?  N3 v2 X5 m- N$ j6 D3 P
例如剛才說10蚊的, 趺到得番9蚊, . Y) h+ ]4 I+ E1 H
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%, M8 l, B9 K8 D3 ^3 b* o* t
所以你就會覺得D錢好似蒸發哂咁
! U& L# m' U. J# S5 ~; ^. z4 ?3 \( i9 e3 P; e4 c7 @3 R- N
你都可以當標野咁諗, 個樣野多人可以狂升值, * \6 [- R+ w$ b4 d5 ]
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, # B" `# @) K1 G, ]+ Y
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; W( y' {: |& T- U( N8 i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8 V) c7 c4 W- Q( p# r7 h
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) A1 ]- d1 S& @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% D: b' m1 B$ B" p4 w" ]9 ?淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' X3 L4 [) `! A( u1 e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
' I+ r- W7 f7 d& a. X& L$ h% A' r' J- n咁你話d錢蒸發左去邊? ...

+ q6 ?2 \3 U+ A" h
' |5 |; h/ s7 Z1 N1 p: n2 Y, M
正係咁樣
! i5 N3 K& L; P8 `; Q# a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
! T6 a  c& q$ u: u: X. {. G7 _# f分分鐘佢地唔使還錢
% o2 n; c0 s5 W5 `" e  C3 o  P- T: E, J& O
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,- ^4 B5 H0 R$ B- n( i8 r# ~+ D
連國家都係問人借, 不停發債券, 印鈔票; G* f! ~* ]3 N5 o( c
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" n3 A8 V* ^+ ^+ `% ~- e  P* E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
2 m. n* L0 X1 n: r; k( [) v* p2 V8 M4 I咁而家"爆哂煲"算唔算先至係變番"正常"???

. L" |6 S4 b) Y/ A4 T- d/ c% Q

# @* ^% ]2 ~: z4 m% K6 B5 G. y其實係...! e' V2 p% ^4 |7 {# ^$ J$ }  l4 y2 d
因為以前未生產, 先消費
# \; g/ o+ n; s9 H7 w( p0 j: h; h而家就要多生產, 少消費