0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 c2 @! b* @" D$ Q/ t/ j$ x$ R' Q, u5 fWhy bank will sell 借據給第三者???( N% o6 N- n+ n9 p5 a2 ?, P. g( R
I was so confused.....

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6 y# o7 j" Y" K講到尾都係賺錢
# n; W& ?  O! T4 ^/ T: M3 L0 Sso銀行可以不斷放款2 f# r/ X: }" @  d  @
美國的房貸問題散佈到全世界
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mortgage loan   ?8 L" c- y' ^! v9 p9 L- L- F% x0 R
>conduit2 ]) r3 V; U+ g) N+ B, ?" Z, X& O
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)2 g! ~4 b/ y3 N* B
最後去到投資者

Kev

i thought it is the reason of rate of return.; k- M2 D  O6 a& t3 C
CDs could have different ratings, AAA -> F,* I& b! S6 V& x2 D4 a7 T
more risky ones would have higher premium (interest rate) as a compensation for an investment.
3 h5 v3 Z0 I- |9 y; x4 hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ i1 w, R; d- W" ^! gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; ?5 K1 ^. O# A0 I% r0 H( eAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
! D$ z' H# E4 x' j8 Csimilar to bonds, CDs trading in the secondary market have different value at different times,
! N8 l3 J+ H& {, n2 J3 d' \normally the value is calculated by adding it's principle and interest.
/ o* S8 f$ H( S  {0 Ceg. the value of the mortgage+the interests to be recieved in the future.
  X& C# s. I& G1 a" pbanks 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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3 k% f+ @0 y5 q  sim not quite sure if the multiplier effect does really matter in this case.+ S  b, Q# J" p: w5 C# o
in stock market, it's the demand and supply pushing the price up/downwards." j; z9 M% J3 N0 e0 V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. B6 N4 o. O# z- eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! F5 U  K. _. @4 |  }9 U4 @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. 3 X5 Z  w' ~# Y, w0 T5 Y7 Y& f  u
but 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
8 X  p4 Q* L7 s+ ^Refer to last example,
2 h' O3 C7 o# \. h. Rthat means bank A have no money because we borrow 10 dollars from bank A . s# E$ B& F2 E( t* Q5 N. W( f  `" F6 }
Because bank A doesnt have enough cash on hand * s0 u3 t+ ]$ O- P1 u0 h
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
( l; J* \: [/ B% _& p7 Sso does it mean if E failed to pay D,
  b; p2 |# S8 E0 \. {all the B,C,D,E have to go bankrupt?
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! N, _1 C$ H2 w/ O: j: R* lthe multiplier just tell how much money created in a whole economy,
; Z1 f9 C% B1 t' O9 f6 j7 Q2 ^3 ]8 Qin this case it doesnt really matter how much money is created,
3 N* B  X1 J6 E, ^' r. I; Uit's the problem of the debt itself.
' c# y' @4 G$ ]/ i/ Ethe 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
8 `4 I7 P4 u' R6 u( j小弟一直都唔明...& @' Z& k/ n% r! l3 [' f
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全世界都蝕錢，咁邊個賺緊錢呢?! R6 U' `+ {  d7 s) P& d. G: F  `# R

7 \8 K7 v% [4 M" Y4 ~" o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' K8 `8 T) O* P
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Thanks

" h. }# l- G, R( @6 j那些根本係 紙上財富  
7 A8 y2 B6 B$ _; c  ~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
. _! p( ~! p; p+ m當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
5 G/ Y8 I! B8 F. L* l& i, I; o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
- A2 ]1 a3 @/ e( h  B2 d個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 W7 Q1 Z* l, T" `1 t扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
3 }: P5 N0 _' F8 _1 _& N% |計番回報率就已經係50%,所以可以好好賺6 ~. U  Q* Q- I- \$ F- j' n
前提係銀行之間要互相信任先可以咁樣借法5 \5 }1 z7 M9 K# s, D* |. V: L; n
同埋個市場既前境要係好先得
! {2 B2 b  o1 _但當經濟一差,公司估值趺了,物價不升反趺, N6 A; k3 M0 o& q
例如剛才說10蚊的, 趺到得番9蚊,
" ^2 z& p0 y1 v( q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 m7 Q8 a( N1 Z( m6 F1 J
所以你就會覺得D錢好似蒸發哂咁5 V5 p! j9 ~/ C# o6 d" a2 c
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你都可以當標野咁諗, 個樣野多人可以狂升值, . V3 ?( Y3 m" R: K7 i
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, + y" c. }0 a9 A9 h4 g
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * A/ f# L2 M: H& c7 q6 P$ 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6 e& k- `! g2 [( h- m; D
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! |' X& k7 B+ b: h& R
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ _; j) v7 {$ d8 P6 A; T; W3 Q) n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   _; [; |& u' [% h) J
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
. Y+ q. k- |; E; ?9 e咁你話d錢蒸發左去邊? ...

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4 Q: F2 q: d" `3 {& g3 a: r正係咁樣) C! c3 G7 m, y
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- X& V4 z# I# }; I4 l) c% G( f0 X
分分鐘佢地唔使還錢7 S5 J+ }5 n8 E9 x7 R0 |8 R3 T7 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,
6 h4 O; P# |- j" U9 Y3 C連國家都係問人借, 不停發債券, 印鈔票* B- F, f  H1 P  J' O+ K
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
7 Q6 G8 [( Y: x" }& U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& ]7 R& ^+ z4 `. |0 Y/ Z9 ?6 s. A
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...3 a" ^$ f* q- F5 Z8 N
因為以前未生產, 先消費
: d3 _5 v9 z, G5 W而家就要多生產, 少消費