0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( C/ ~" R0 u: ]) {! W9 B- i
Why bank will sell 借據給第三者???. f" L" Q0 q5 \# [0 q
I was so confused.....

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講到尾都係賺錢
4 h# f1 a2 W3 u" A) F2 Q% `1 K- D/ mso銀行可以不斷放款
4 u4 p5 ?/ ?5 ~) `% g3 p! j. k美國的房貸問題散佈到全世界
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mortgage loan $ c+ n8 h, z4 `7 u
>conduit
. W9 x/ ~1 e$ [>RMBS(Residential Mortgage Backed Securities)
. f+ s5 \* D0 ?$ Z$ U0 r% U4 j>arranger
: t" ~1 N" j3 Z# m6 O>CDO(Collateralized Debt Obligation)/ C" h( e" Z5 Y' x6 {
最後去到投資者

Kev

i thought it is the reason of rate of return.  X, E( J1 j" k, K* f& X
CDs could have different ratings, AAA -> F,
* z& i3 \- g+ ]* @+ ~" Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) E3 m; W& @4 K6 e3 t, Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 U: S& e9 d& z! n  c/ i( T# U& xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& k; w% B  [# R# F) M- \1 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ F2 z$ O& S5 \! X4 Q
similar to bonds, CDs trading in the secondary market have different value at different times,
7 g# y3 b% i( l: h5 m* }& jnormally the value is calculated by adding it's principle and interest. " o* C% \7 P% B; r  B8 M: z
eg. the value of the mortgage+the interests to be recieved in the future.
4 D3 b: o0 ^) r  ybanks 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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im not quite sure if the multiplier effect does really matter in this case.
" s3 p7 J2 J' m/ ]. `6 ~in stock market, it's the demand and supply pushing the price up/downwards.
9 u/ e& e- \8 wFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& t: z$ G+ ]6 d, U- kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 Y$ h5 T5 G5 i; c5 |: p& NThe 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.
2 t# D+ K7 m2 Ebut the value of their assets did really drop significantly.+ b! @3 v1 q" v# j, l$ v
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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.gif3 D7 T! N3 p. b1 B. u& f
Refer to last example,1 L( K# {, O7 o3 v! {+ W
that means bank A have no money because we borrow 10 dollars from bank A
$ l, @7 B) Y  N; qBecause bank A doesnt have enough cash on hand ( G) c# k8 ]# s4 x) s, a
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 w. n* v/ v* L% a8 X5 ?A->B->C->D->E
6 R9 f( w& {, J# Q" @7 r4 Q8 Hso does it mean if E failed to pay D,
/ f; y/ ^3 P3 b) v; {all the B,C,D,E have to go bankrupt?
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' y* X, i8 c; |! J% l3 Ethe multiplier just tell how much money created in a whole economy,
% ?+ I/ Y  T6 u, c3 h6 Uin this case it doesnt really matter how much money is created,
# S% p* M8 X0 n2 \4 uit's the problem of the debt itself." t8 l8 U0 o3 i$ L) x
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  D/ G3 Q, O9 [- u+ Q
小弟一直都唔明...8 V; a# C% R: C1 u- v3 b1 o7 V

0 ~4 p, y& Q5 F( B4 _6 q" Q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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敬請各師兄解答
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Thanks

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那些根本係 紙上財富  1 h+ y4 ~& F7 |
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) Q+ t0 I0 J4 D; E  I) \
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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' e% Y6 B8 [6 J8 O2 {% r6 m
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  k3 g9 Z: I* W" J! Y" ^5 `6 b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
3 D1 J4 Z# \2 g& l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
! P6 O0 N( z. i1 _扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 S1 t+ {9 T$ O+ F2 s# B, e
計番回報率就已經係50%,所以可以好好賺
6 X8 K; g8 Q$ i* m前提係銀行之間要互相信任先可以咁樣借法5 I3 J% P  y  ?2 L, m
同埋個市場既前境要係好先得
$ c$ s0 M0 J; Y5 ~' x5 z+ i2 Q但當經濟一差,公司估值趺了,物價不升反趺0 a, H. D" {* e6 O1 l' T0 t
例如剛才說10蚊的, 趺到得番9蚊,
, P3 ^! y7 p! m% Q" Z' F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
" n9 g6 ]; M# O: G所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
3 N9 s. D2 A8 K3 W; R3 Q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,
5 h  B$ l8 ]+ J/ {淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  r  c5 b3 F4 z+ s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, Y3 a; T5 B- b  C8 H; y5 y& g
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
$ u5 ?. g+ b1 \0 j唔係d錢蒸發, 而係比美國佬洗晒未來錢,
. R; x  E8 k* y  a6 T  b) ^7 y2 H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ E- v5 [! S3 x0 ]2 g( v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( x6 j8 @  [& _. f& C% |
咁你話d錢蒸發左去邊? ...

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正係咁樣
. O0 }8 m1 M( _  q5 ~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
- A4 s' P/ ]; b) b! J0 C9 C6 F分分鐘佢地唔使還錢; p8 z7 \  i2 B7 u% R4 u
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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,/ h5 f/ U; S. a6 G" k2 @5 k. ~
連國家都係問人借, 不停發債券, 印鈔票& K, F/ M- ?8 d9 d
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產7 L9 f5 c8 a! D2 G- ~
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
% }" [# z! k" r  L咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  b! _" [: C$ o3 s" X% L& m% o% r因為以前未生產, 先消費0 V  |# c3 H  U/ E! u& L0 @
而家就要多生產, 少消費