0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif% l( k& a7 o) g/ ]3 A
Why bank will sell 借據給第三者???
( @; l! p) W! ?I was so confused.....

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& S. G1 a$ l6 o; @1 u$ l4 z講到尾都係賺錢+ d# s. S0 m- V, K) ^# g
so銀行可以不斷放款
$ b2 |$ f2 b6 `* I* i( E美國的房貸問題散佈到全世界$ G5 l0 P/ ^, k7 V7 A  q! E

% ]8 }5 I/ E8 ?. x5 y+ xmortgage loan - Y! L' d6 Z% R% _/ p6 X
>conduit& e# s2 A. x2 K9 Z, q0 P
>RMBS(Residential Mortgage Backed Securities)
2 r) Z" s& u6 \* ?$ f>arranger8 v% A$ l* c& o& n. M& t' [9 g  c
>CDO(Collateralized Debt Obligation)
/ m$ |* e; x; P; [- H最後去到投資者

Kev

i thought it is the reason of rate of return.0 j! g0 R' N0 i+ y' d9 i4 G
CDs could have different ratings, AAA -> F,) V: w1 {; a: x! {* @; r
more risky ones would have higher premium (interest rate) as a compensation for an investment.* O* c) l- Z2 R/ Q2 W* k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, B9 \) m# K# A
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  e) E5 f( `8 m, w+ t  Z' yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 d0 F5 B6 e+ ?+ K
similar to bonds, CDs trading in the secondary market have different value at different times,
0 {, z. _8 W+ ~+ R0 E" U3 Anormally the value is calculated by adding it's principle and interest.
" L7 S9 ~, B) {# M5 G, m& K0 [eg. the value of the mortgage+the interests to be recieved in the future.
9 {1 I- ^/ C6 p& ^4 k% C% Ubanks 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., u" B) g/ Q7 Y( y% l5 z/ @; R7 s+ W5 d
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im not quite sure if the multiplier effect does really matter in this case.
6 F. c6 m" ]4 L6 A7 Z* H& min stock market, it's the demand and supply pushing the price up/downwards.
( R. \8 F# ]; k* BFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 O/ o1 O% {' B9 P) U% F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% e0 f8 x. a$ qThe 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.   r0 B+ o7 q) P+ \
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
2 ~7 K  B' l' n3 pRefer to last example,, o' n9 ^, W4 ~  ^/ o) {
that means bank A have no money because we borrow 10 dollars from bank A ) [0 \$ B/ a4 g6 t
Because bank A doesnt have enough cash on hand 3 \2 O1 b2 R4 Q  t. Q: |$ c
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E8 i; B$ `, d( G4 F' w0 H1 Z6 w6 U. O
so does it mean if E failed to pay D, ' `( v$ d1 H3 w; w8 U
all the B,C,D,E have to go bankrupt?0 j- Z( R8 D' l) a! M
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5 h) a" R9 ]9 V# v% ^0 K  N* cthe multiplier just tell how much money created in a whole economy,
1 @" o) }5 h% w1 \% ]in this case it doesnt really matter how much money is created,
" F. @0 ]0 R$ i0 T! {it's the problem of the debt itself.& w  a. e! I( k: E6 l' T/ o4 j
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
6 a7 Z( g( f- @1 Q1 u5 N/ H小弟一直都唔明...* o9 {# O& v( N+ d% w; }( e

5 |$ S/ X# ~8 S4 Q' @0 b; p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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% m5 }, C, m6 o敬請各師兄解答7 f, |9 ?. _: G! C& D9 h2 {6 J
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Thanks

' D9 b$ i2 T7 _
那些根本係 紙上財富  
& x: [7 q. E8 S$ T8 o6 g* Y& t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1 i' K& J& ^1 t- n6 _8 n: b& A7 ], X
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高' ^# \5 s* d$ G9 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- m6 R8 x! ^9 R7 a
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦0 D9 w9 k7 B! b& c5 \7 m5 Z1 {
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, y: y/ v) Q6 [" f7 R+ y& b
計番回報率就已經係50%,所以可以好好賺" H, L- |0 p! s/ P. a3 r& I
前提係銀行之間要互相信任先可以咁樣借法( M( e0 b& _5 m6 g6 |' k8 L( q5 z
同埋個市場既前境要係好先得# ^/ `, X( c3 u
但當經濟一差,公司估值趺了,物價不升反趺
% r9 r. t  m6 j* L6 E# m8 l* L例如剛才說10蚊的, 趺到得番9蚊, ; L8 |& ]! C) |: I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- D7 w8 M# e1 z7 y0 s
所以你就會覺得D錢好似蒸發哂咁1 n6 V2 N  i. H# s

7 U0 R) D! v# B( r你都可以當標野咁諗, 個樣野多人可以狂升值, 8 s% J9 B+ z! V
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, 7 H* l- e4 _1 N" j: `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - w9 A* C5 k" M( e/ z) z
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
0 R3 ?0 e8 @5 m6 z) e$ s! x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* R5 O+ A9 M" _3 ~1 o) B! m
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. A5 `1 t2 b+ _7 q# M2 M! |3 C, h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , H) r5 e% C* f; E# H/ I% g0 |: |
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, X0 A% ~& |3 [' Z* R
咁你話d錢蒸發左去邊? ...

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正係咁樣) c3 P6 w0 V3 R* U2 L, `4 ?7 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3 z' g  x; C) @
分分鐘佢地唔使還錢
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+ J. V  Q" F' @% p! V& ?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,
- g" Q6 z2 g/ ?! d連國家都係問人借, 不停發債券, 印鈔票; r! V- B3 q: M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 n+ H# W: U8 [8 P4 H, ^$ h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
$ Q! D9 M7 e1 H$ M1 Y) R咁而家"爆哂煲"算唔算先至係變番"正常"???

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/ q/ n9 n& B  [" `其實係...
4 D. x* k. q8 t( c# i4 V因為以前未生產, 先消費
2 d0 B, G% c, X6 z: d6 Y而家就要多生產, 少消費