0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
4 X4 M" v2 [6 x" z" r8 qWhy bank will sell 借據給第三者???* H9 {- N* b, Z2 w% @
I was so confused.....

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講到尾都係賺錢- x' D9 p1 r8 ?- a) S
so銀行可以不斷放款4 W0 `3 r9 ?5 r* D! G; I% q
美國的房貸問題散佈到全世界5 K; ~5 b! Q- O  c3 P2 Z

$ \7 c5 g6 Y+ xmortgage loan ; f; w4 {( F% W2 G
>conduit7 r9 j' P2 R' Q8 h, M2 _) s
>RMBS(Residential Mortgage Backed Securities)
4 t, b" h) w! \5 O4 Y% \3 y/ a>arranger7 X4 O# q6 @$ {2 f/ u" ~
>CDO(Collateralized Debt Obligation)
( p; X: x5 ^  H6 C1 q% X最後去到投資者

Kev

i thought it is the reason of rate of return.  K* Y8 F6 K4 n+ ^7 y" @6 A$ k
CDs could have different ratings, AAA -> F,
% C2 x# ^. h$ |! R4 v' o5 s* smore risky ones would have higher premium (interest rate) as a compensation for an investment." U5 j; I7 @. [& _8 D# A; R9 R# H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 y5 F+ J) J, F6 v! c1 ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# r- J8 j; z+ K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 ?& U5 n/ \8 i6 p) k2 l
similar to bonds, CDs trading in the secondary market have different value at different times,
" c" A  z3 [( W6 v) Cnormally the value is calculated by adding it's principle and interest.
  ~# Y/ c0 s1 o0 w7 |eg. the value of the mortgage+the interests to be recieved in the future. ! z1 V# l5 ^! Q( j' S
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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. p( z1 h. k& B2 rim not quite sure if the multiplier effect does really matter in this case.6 D" p# g) ]' w6 G
in stock market, it's the demand and supply pushing the price up/downwards.9 c% F& ?; f7 {
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
1 ^: I2 _# M8 Z% b6 LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" Q4 _; H5 k% v8 H5 l& |, SThe 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.
0 \6 ?# M2 w* u( ^( nbut the value of their assets did really drop significantly.
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  x8 O2 O0 d& Q; i% }) ]9 P* X[ 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" A/ v9 H; e/ t* }
Refer to last example,  p4 S( d) H/ N( O! r+ r9 `! ]
that means bank A have no money because we borrow 10 dollars from bank A 9 N) B3 y% ?* f% O
Because bank A doesnt have enough cash on hand
# F9 z/ I! l, f: l5 C! ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
+ E  T+ d5 L7 {+ s2 Z! xso does it mean if E failed to pay D,
9 R7 [5 e6 a$ T/ [) M: c/ Lall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy, : X: Q; {" e5 h3 J. \% N) T; L) ~
in this case it doesnt really matter how much money is created,
  v4 M$ ~9 `+ S1 ?$ c7 F$ kit's the problem of the debt itself.5 y  I* W. h7 F/ o/ ~6 P
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
) t. h+ U! I7 t小弟一直都唔明...% @; O8 D/ s/ v# z6 L( r# d/ j
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全世界都蝕錢，咁邊個賺緊錢呢?4 j3 G& M) X# J$ ^# A% l$ ~

+ H; [, [$ ~! Q" N無可能淨係有人蝕錢無人賺架嘛...% O( Q3 w+ d5 h$ d. |

4 x+ F" \# e( U" l% m5 h敬請各師兄解答
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Thanks

$ e1 H1 N2 V3 t9 y那些根本係 紙上財富  
6 n) u" q+ T  S* _2 V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( {  k: p) N- H% W
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  ~( F8 y% }, d8 V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4 x# |$ B8 [* l- `- Y! ]4 b# V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦) [. `7 y! e. u  }9 w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ B3 ~- h8 d- v" J計番回報率就已經係50%,所以可以好好賺2 V1 W9 c& n4 v* Z- d- |
前提係銀行之間要互相信任先可以咁樣借法3 U; F$ Q, H0 y
同埋個市場既前境要係好先得
* a8 t7 G/ D- H但當經濟一差,公司估值趺了,物價不升反趺
0 C; E$ ?. B& H$ `# S例如剛才說10蚊的, 趺到得番9蚊, ) |- B6 j0 p1 X! d1 {4 Y+ |7 ?& x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 l7 ^# d) h* }) p. X- ?5 i/ B所以你就會覺得D錢好似蒸發哂咁6 f0 Q/ j2 b1 }$ ^" i8 ^

: M: k5 g* h& z6 q& S/ |+ M你都可以當標野咁諗, 個樣野多人可以狂升值,
2 g& A* G* }1 e3 J2 f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, 1 Y& v+ t! ?6 s5 Q4 B, I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! ?0 R9 Y$ V7 @, b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; {; x: W8 A) 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
- J" F% K4 R4 s# |2 e- m' R唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 i, j6 C0 B; M淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 \# j0 R" T$ k  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
5 r) o" _9 I' N' M. N$ \+ u5 |咁你話d錢蒸發左去邊? ...

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正係咁樣
" C  `; P" d. |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
  o. Y8 i8 m; Q分分鐘佢地唔使還錢. e2 G  E2 q/ d9 @3 u( T
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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,
8 @1 a1 b! L/ E; Z連國家都係問人借, 不停發債券, 印鈔票
: X$ Y1 H) }, \7 z/ W* q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
( c5 G1 [& V4 J8 `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$ x. y/ b+ P9 E  s9 }
咁而家"爆哂煲"算唔算先至係變番"正常"???

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# U5 t7 ?9 i2 w: L其實係...
. O  ]# f% T$ W1 w' i4 d+ @因為以前未生產, 先消費
1 C0 O2 F! l' c: A2 |6 P# s4 O而家就要多生產, 少消費