0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
- k/ c0 a, U2 R7 I, [Why bank will sell 借據給第三者???/ \7 {, {: C* c" A6 E) X9 Z# B; k
I was so confused.....

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0 e8 e# u: V9 X- }# R$ C講到尾都係賺錢' R- \# f' z5 B
so銀行可以不斷放款/ ?; a8 T2 S+ D8 P5 ?# \  P
美國的房貸問題散佈到全世界5 \2 G3 }9 F7 d  H

4 m! Q9 ?$ N( ~/ {, g5 p. kmortgage loan ' c. }3 V9 e9 V. l, C
>conduit
  _, C2 T2 l: a>RMBS(Residential Mortgage Backed Securities)
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6 _& ?/ K) Q( R& P>CDO(Collateralized Debt Obligation)8 ?7 \+ h; I6 D" d' ]4 L+ E
最後去到投資者

Kev

i thought it is the reason of rate of return." E7 b. r  I: n" A( L
CDs could have different ratings, AAA -> F,
. _  X. X4 W6 V8 ?, U: pmore risky ones would have higher premium (interest rate) as a compensation for an investment.
3 X5 _, u/ g; L9 B+ V5 J' Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* S- L3 p/ M- i- O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." u; o  c' s) a& F+ l, e" |
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' E" m* r9 U+ a. T# f1 A
similar to bonds, CDs trading in the secondary market have different value at different times,
, N0 L& q  N4 i  }# m7 X  Onormally the value is calculated by adding it's principle and interest. : l8 @) C% I2 f# e
eg. the value of the mortgage+the interests to be recieved in the future. * X1 e" X5 X) d. K9 M
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.
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im not quite sure if the multiplier effect does really matter in this case.* b' Y: X/ N: {7 Y1 K
in stock market, it's the demand and supply pushing the price up/downwards.
1 m$ o. k( f. ]+ \& ]For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 N% t3 u8 h6 C7 `3 u4 L/ GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction./ q" g& r) r  [# w5 C4 ?
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.
: q! A' X  x3 J: t$ f: A) D0 [, P; ^, ?2 `but the value of their assets did really drop significantly.
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# Z7 F" a' ]* ^/ s2 j$ F[ 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; C( d+ X$ ^! P" }9 g
Refer to last example,7 y2 F% f" N: W- f) Q1 i
that means bank A have no money because we borrow 10 dollars from bank A , [; v7 R4 U/ t5 u4 U5 z8 T
Because bank A doesnt have enough cash on hand + S0 S8 T9 s* {
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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+ p5 d8 \) _6 N& V( S- N3 b8 G& N# kA->B->C->D->E
. A3 p7 P7 ?7 G! sso does it mean if E failed to pay D, ) k5 ~9 n! M' F4 ^7 `* e
all the B,C,D,E have to go bankrupt?2 q1 d' W2 B2 o* J6 A/ r

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, b+ M& b( {( h* |: o5 qthe multiplier just tell how much money created in a whole economy, ) C- H% A) j$ v; d
in this case it doesnt really matter how much money is created,
( R" o0 ~9 f4 uit's the problem of the debt itself.
+ n0 ~. m( a$ J' m" ythe 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
( j3 ^+ G. Z5 j3 w& M; M6 u小弟一直都唔明...  q; D) X% B7 p) g) x; i& ]) d

& O; Q6 J$ n( j) s" I  @8 m全世界都蝕錢，咁邊個賺緊錢呢?
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4 i: O5 {0 ^4 J# v$ m3 X無可能淨係有人蝕錢無人賺架嘛...; O* V3 R6 |$ R

) u4 W3 a$ q. [5 c, B敬請各師兄解答
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5 M* m4 J. p% d# J* J" x1 \Thanks

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那些根本係 紙上財富  
2 E0 _+ p* f9 L+ 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 graphic' K( D9 x- f: }( g

( C0 R8 m7 p. a& m9 M. vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) R. B8 b0 J0 c' _8 r1 ?
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; D: X4 t# i0 J5 G6 v1 G1 R& ~. w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
( C. J  D4 a9 d9 N4 X8 P個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! b$ k# b& g( }
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ Z8 J4 m0 X7 J' \1 b1 W* ~3 C
計番回報率就已經係50%,所以可以好好賺
& n: J" e5 r+ b8 x前提係銀行之間要互相信任先可以咁樣借法& m+ P' F' c2 G$ |! q
同埋個市場既前境要係好先得
" R4 I8 F5 l$ n+ o$ y& {但當經濟一差,公司估值趺了,物價不升反趺
, O  z8 w8 T" [0 Z# `例如剛才說10蚊的, 趺到得番9蚊, / G5 c9 `" I, Z3 V% a
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 L! z5 }8 C8 g! G: L0 }/ j; u! R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,
2 `% r2 F/ Q) S3 v" b% Q( o% T! X3 M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,
8 L0 ^" b8 E  y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # Y. o8 H: ?, q5 K" C, N: G, q
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+ X7 z) f7 t' L! k- R8 Q0 m
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
' I# S+ X, w5 z- A: W唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( A( W* @6 }  _5 H1 V2 l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 A0 x" @# Y; g6 y* K1 x
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/ F" x$ @: ~( k7 f) X
咁你話d錢蒸發左去邊? ...

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正係咁樣0 V) y: Y2 m+ i* p, r+ \
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* ~( q7 Y5 H  D7 {1 O- R* e0 J8 D
分分鐘佢地唔使還錢5 a2 }6 {) @! e/ ?1 o
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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,
$ |* B8 H7 e; |) D) k+ A! D& \: t1 N連國家都係問人借, 不停發債券, 印鈔票+ h; o& @9 T& [- E, }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& X6 \7 k  ?, D" |% }1 X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
# H* h3 u; m( d1 ^  H' v6 r9 M6 Y咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 q1 J: l- F$ [, ^/ r+ i) H2 Y其實係...
0 z/ D/ Y0 L; W. U# J) Y% N% ^, F因為以前未生產, 先消費
. L+ J( ]# m1 ?而家就要多生產, 少消費