0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
% P2 S' i3 q/ i" Z. H' oWhy bank will sell 借據給第三者???
( D5 x* r. p- Y: o4 g5 iI was so confused.....

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* F# l: T8 c" F* l6 G4 W. |講到尾都係賺錢
. ~& B) i" t/ q/ Y( `5 b8 _4 |so銀行可以不斷放款
6 h5 Q$ R1 p' t; K8 k美國的房貸問題散佈到全世界
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0 e& q) H! g4 z, f) i6 \mortgage loan
4 A3 K' m* H( z4 d7 |>conduit4 \2 z" ^* F0 r8 I. m* v4 Q. P; m! @& ]
>RMBS(Residential Mortgage Backed Securities)
; S& y, u; E2 G" M) U>arranger" j7 g6 k  F, g2 O& W
>CDO(Collateralized Debt Obligation)
# A7 B# j1 S) p最後去到投資者

Kev

i thought it is the reason of rate of return.
% t" A% c. v; rCDs could have different ratings, AAA -> F,6 H+ h5 S' r/ U; @7 V
more risky ones would have higher premium (interest rate) as a compensation for an investment.
7 v5 j8 T- _  W) s7 x5 `main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 `/ \+ Y0 l, P2 z; b# F1 V# Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. t( N8 {4 x1 h+ \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 D5 p% j4 _* w' U, O4 Gsimilar to bonds, CDs trading in the secondary market have different value at different times,
1 x! O3 ?: Q; e  u; cnormally the value is calculated by adding it's principle and interest. ( u) x: c/ X$ ?$ t
eg. the value of the mortgage+the interests to be recieved in the future.
) f0 v: y( x0 v3 h% Cbanks 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.' t5 b* X8 B0 O! n2 v4 S- |7 N

8 N: }9 f" d( t: l+ vim not quite sure if the multiplier effect does really matter in this case.5 I$ n6 R: h  ~8 J
in stock market, it's the demand and supply pushing the price up/downwards.
% {9 o1 `) |+ ?" DFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  P: S! \: x$ }! D% R
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 r' |" X: K, p8 S/ ~5 f8 ~
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.
: q0 ?, Z7 d% y& O4 S4 f. A/ ]but the value of their assets did really drop significantly.
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' h; o8 R# c9 y. X[ 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 g- U3 y, d2 ^Refer to last example,
' H+ x2 \9 c9 z" jthat means bank A have no money because we borrow 10 dollars from bank A
: @3 n" ]" O/ F9 p" ~' X/ B1 BBecause bank A doesnt have enough cash on hand
! e: Q# U' f' dtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E% y) v6 y( Q) C0 j0 O
so does it mean if E failed to pay D,
" B$ }5 E  Q( o$ C( _" a9 Zall the B,C,D,E have to go bankrupt?
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8 L+ {1 \8 a( h& k) N2 Cthe multiplier just tell how much money created in a whole economy,
6 a: r) `  A' h1 bin this case it doesnt really matter how much money is created,
4 V' O" c9 `( Eit's the problem of the debt itself." L& H4 D! E2 ^3 o& P% P
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, O/ J! J& i* L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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無可能淨係有人蝕錢無人賺架嘛...
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+ K) y) @6 D1 M敬請各師兄解答! I# }& o: }0 Q( ?; N/ j; K8 ^

5 Z8 p8 }5 A5 m' @5 `. H0 y& JThanks

/ d" l8 {4 A( r9 E) C- M/ o9 G那些根本係 紙上財富  
: ^5 Z& x) N( D1 \$ y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 graphic1 w9 T$ y$ E' a% k5 k; L

9 c: |7 S: ~" B, {: B4 `3 \2 J0 \9 Chttp://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 ]: A" P: l7 E3 z) `2 S' x# W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) x$ C! u9 U- D( S5 s
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; R+ g( I) N' Q- x1 ?: b" E
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦3 s7 Z! o) d7 d3 g
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. A. v' x' l( z! m
計番回報率就已經係50%,所以可以好好賺
: h- t2 j. ^* N7 x! x; }4 n, o! W  k. j/ |前提係銀行之間要互相信任先可以咁樣借法
, R7 ^) c0 Z4 k" O! X' H同埋個市場既前境要係好先得
/ o# j! l' i" h( F+ d8 A8 F但當經濟一差,公司估值趺了,物價不升反趺8 u' z; V2 c# X# A0 z+ R- o
例如剛才說10蚊的, 趺到得番9蚊, / K% J! x, v2 Q0 z
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%) x6 }5 w1 b7 G
所以你就會覺得D錢好似蒸發哂咁
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2 Q! \; I* }/ y& Q4 M你都可以當標野咁諗, 個樣野多人可以狂升值, % B8 A( E6 Q6 y7 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, " e/ I/ \' c$ C0 K' U4 k' W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) A1 I2 ^, c. N, s) p3 ~  l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$ U# p! h" H& Y7 `! K% ]
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
$ J) S7 a0 I  H! A8 `% h- x2 J唔係d錢蒸發, 而係比美國佬洗晒未來錢,   G9 r: l( y* I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 i4 I+ s" i! W7 O+ a. y9 X" e6 D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
+ t: q0 o  s( i' v" ?咁你話d錢蒸發左去邊? ...

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, o& c7 s2 e4 D) ^0 n; \+ E! l3 c% Q正係咁樣
1 s0 ~' @4 T, ~0 u. Z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4 J2 ^% ^7 |- d$ h
分分鐘佢地唔使還錢& h* W4 y' Z2 \/ ~. g; `
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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,
1 Z, f. G* @9 y連國家都係問人借, 不停發債券, 印鈔票
7 D$ m: G9 ?3 J; V' I5 j# ]" X一個國家好少出口, 而又大量入口 ,反映到佢唔多生產: @  I: A* [  G- N5 ~+ O& Y! }
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& Q9 E9 a; j/ {: I3 d7 t
咁而家"爆哂煲"算唔算先至係變番"正常"???

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4 m9 w9 w7 H- n/ v其實係...( h$ P% x! Q8 a0 P0 V, T5 {% y
因為以前未生產, 先消費* c. [# H, {  P/ u1 e% r8 Z; p
而家就要多生產, 少消費