0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
# g. l! U' w5 fWhy bank will sell 借據給第三者???
( Q2 N+ U6 a% YI was so confused.....

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講到尾都係賺錢4 ]  a6 j2 u  p& T. ]3 P
so銀行可以不斷放款4 o' O. d2 r  N. x1 U
美國的房貸問題散佈到全世界3 v4 U8 {3 |- y1 H, C0 y
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mortgage loan 6 m3 v0 {7 V3 u. x$ p
>conduit, M8 O5 h4 o% b* a1 |
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
1 K7 ^% ?: O- u5 v" h- h# V. d* Y最後去到投資者

Kev

i thought it is the reason of rate of return.
+ Y. H0 k% _. T0 }  k; xCDs could have different ratings, AAA -> F,9 Q) g5 V4 L4 t) `8 y0 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment." O5 [6 q5 t3 L9 o" F4 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! o+ D' g( Y* t1 D1 lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 D7 s1 ~) N4 r  S1 f, Q2 X/ h& B
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. T3 g1 W+ d1 x9 r5 w7 Msimilar to bonds, CDs trading in the secondary market have different value at different times,
7 j% O5 i! e6 C- {normally the value is calculated by adding it's principle and interest.
% G* A. v/ {# R! \# Xeg. the value of the mortgage+the interests to be recieved in the future. 9 l* D) W6 a8 W6 A6 ]5 o+ G
banks 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.+ |% d6 I$ N; E7 \# p- ?3 Z
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im not quite sure if the multiplier effect does really matter in this case.6 C; f* w+ u5 w2 W
in stock market, it's the demand and supply pushing the price up/downwards.
+ y4 F0 R0 A7 s6 @& mFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" z. K' N* G5 {; S: X  FA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 E" X' U( S8 OThe 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. . w  t1 U0 k9 d0 @
but the value of their assets did really drop significantly.
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$ v7 ^- U6 O! O1 x' h[ 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.gif6 x+ R( g# I# H( t  O& Q  d
Refer to last example,
9 D) W8 J0 d4 Z; G) B& |that means bank A have no money because we borrow 10 dollars from bank A
- i. l3 f) K  Z* y* j7 kBecause bank A doesnt have enough cash on hand 2 v. K3 i3 B+ G  m' k
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" ?% ~$ q3 i/ e; NA->B->C->D->E
, S# y2 q/ `( r8 S9 A4 f6 ]6 Q0 _so does it mean if E failed to pay D,   b1 Z# R$ @& p$ u0 c
all the B,C,D,E have to go bankrupt?8 s, S5 h% a: L& z
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' e% b+ j$ R0 J% C+ g! x# gthe multiplier just tell how much money created in a whole economy, : @5 N/ ^# y0 Y  u7 B3 o
in this case it doesnt really matter how much money is created,
0 p( |# q' ^  g2 t: G8 R, mit's the problem of the debt itself.7 W! X& m) t) q9 d; q+ r( Y
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
0 X0 D& Z4 R$ H% X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...7 |8 S+ A, ?+ X9 K
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敬請各師兄解答
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! X% }) ~8 g! i! ?Thanks

8 u( l3 ]  T& {$ P$ J2 T: Y那些根本係 紙上財富  9 x- n0 A( X! g/ f6 v1 o, }4 x
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
* S! H- N* o' U' v4 l: L當經濟好,投資銀行相信會賺錢, 物價既估值相對較高# k4 H/ x9 ?) R5 L6 D9 H8 H  }8 ?
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
; C0 S" k1 V* H6 P0 i個件物價係市場好既時候升, 例如15%先算,變左12蚊啦& {3 Y- ?6 a4 f( ]+ v% [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
# J9 v- P8 s- l% h& x) k8 C3 x計番回報率就已經係50%,所以可以好好賺( b; }4 j3 H" l, v! b/ P2 S
前提係銀行之間要互相信任先可以咁樣借法
9 W5 N3 G9 l/ ?; m+ d7 \同埋個市場既前境要係好先得2 U# \; Q" F* P/ u
但當經濟一差,公司估值趺了,物價不升反趺: u* n+ p" k2 k! Z
例如剛才說10蚊的, 趺到得番9蚊, 4 t- B0 x3 ]+ |
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' k* Y5 ^  p8 R) M# L+ i所以你就會覺得D錢好似蒸發哂咁
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5 r7 n4 ~$ h7 g$ m你都可以當標野咁諗, 個樣野多人可以狂升值,
6 T# C% x/ h+ c5 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,
2 `8 J' Z1 w4 [) Q* }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, n* ^6 v- c/ a* |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
9 E. V* Q. Q/ x6 Y& q  l" P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- K* W. |4 H3 t8 L
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 ~' l2 K. X! ?1 B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 O4 b4 i6 T! K3 X  {/ _- G% c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4 H( J! z3 h6 j0 u6 k0 l. E7 I4 b
咁你話d錢蒸發左去邊? ...

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正係咁樣
% v6 S) N4 H' H3 N+ H4 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/ ^+ F5 a5 V& B+ A5 V0 `
分分鐘佢地唔使還錢
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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 G9 \. h, Y5 D. m2 X連國家都係問人借, 不停發債券, 印鈔票
* M! _( T3 h; i, y6 d. D一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- F9 N5 ~5 N8 m$ [6 |8 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
: |6 x  W" ]& O, `; {+ O咁而家"爆哂煲"算唔算先至係變番"正常"???

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% N4 K3 R% A8 {其實係...
6 i# N  G/ k1 S% U9 w4 p) ?3 I% B% b因為以前未生產, 先消費
9 B& K, e! s5 K" A% ^8 ^1 c' \5 P而家就要多生產, 少消費