0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" r' Q+ }# D& Q, g6 U9 t2 ^Why bank will sell 借據給第三者???
5 v* e  W* B% E9 ~4 @I was so confused.....

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講到尾都係賺錢/ ?3 |" X( j4 d+ l; f5 \/ y  H
so銀行可以不斷放款
+ S% U! d) y: d+ s& t2 E美國的房貸問題散佈到全世界
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' M4 l* f: ^* U' i, {6 Mmortgage loan
/ b* \3 x$ [  K" I>conduit
8 A) k+ w( H, ~, n" i>RMBS(Residential Mortgage Backed Securities)' {7 A1 {7 K1 F) Q3 s
>arranger; M- ?5 S& @# a) i
>CDO(Collateralized Debt Obligation)
* x. j7 [4 `* I最後去到投資者

Kev

i thought it is the reason of rate of return.8 d0 z/ y, Q% l: F0 }& q
CDs could have different ratings, AAA -> F,5 t- F& x5 i0 o1 J( ?
more risky ones would have higher premium (interest rate) as a compensation for an investment." v4 G; K/ C0 {; A6 ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( i/ m. G: w7 s. A  Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 O4 j6 U  }3 I& H/ Z! q1 N
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- q" r4 W* W0 X, \" Osimilar to bonds, CDs trading in the secondary market have different value at different times,
0 w. Z" J4 ~. V/ t6 o, z3 o/ wnormally the value is calculated by adding it's principle and interest. - X8 l; C. T/ l* t
eg. the value of the mortgage+the interests to be recieved in the future.
4 B. ~& e& m% qbanks 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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" \9 z9 O5 d- j6 g7 Xim not quite sure if the multiplier effect does really matter in this case.2 N6 d, z: ?  r8 A5 ]- \: U
in stock market, it's the demand and supply pushing the price up/downwards.7 ~7 T9 T8 c4 i; s1 r- J/ N' K
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ s" I, Z+ _' I' m; x* C2 H' l) `! EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 o; b9 m2 r7 {  ^
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.
! v9 |  I! u2 g8 |# ybut 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
$ ^( G2 q5 m) K; ]Refer to last example,0 c! k( Y; B" x( f: A7 v
that means bank A have no money because we borrow 10 dollars from bank A
2 C: G) ]" |+ x% C; a, K2 |4 a6 TBecause bank A doesnt have enough cash on hand # A5 A% w5 R- p( u0 ]  R
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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4 W( L2 O4 u$ @( d6 ?1 ^A->B->C->D->E
: \9 d& ^9 a! y* E# {; m) |- bso does it mean if E failed to pay D, " F' X5 v3 p* I: G  G
all the B,C,D,E have to go bankrupt?  R  A/ e) W" b/ B& y

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the multiplier just tell how much money created in a whole economy, ; a; Y: v6 V8 p- D
in this case it doesnt really matter how much money is created,
, Q% F1 o( b1 v% p9 ^5 q. a( D: _1 Fit's the problem of the debt itself.
, t4 Q3 x2 w% @6 Fthe 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.gif3 `! p# O2 Z1 a$ A
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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" F$ L+ Y$ P7 C6 ~0 v無可能淨係有人蝕錢無人賺架嘛...$ h' `2 x& b$ ^6 B) |' _

3 ]5 f: E+ i7 S( }2 D$ K& L/ t敬請各師兄解答( m2 q: h/ g& u0 f9 @: |0 L
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Thanks

1 r+ z3 Y$ J5 ?8 {  z) d那些根本係 紙上財富  
0 s' K5 M8 _6 ^8 w" E  j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 graphic8 m8 s! K2 d/ t( ~. y$ T

, z# O% k( b/ T) [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) C3 z) j$ r+ X  H4 L) Q  Y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
1 [3 @) c5 U' @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
' D8 m' @; V- a, A- S8 {: Z3 o. l個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ ~# {% _& O$ I1 V, b6 i
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 ?: }, i0 d" B, ^6 c計番回報率就已經係50%,所以可以好好賺
) \" E8 M* {9 d8 Q前提係銀行之間要互相信任先可以咁樣借法2 G0 I  _7 R- m4 g: u
同埋個市場既前境要係好先得
: A  U+ J# q- \7 g; ^% X) \) U但當經濟一差,公司估值趺了,物價不升反趺
/ \4 e! N/ a4 ^3 }例如剛才說10蚊的, 趺到得番9蚊, 0 z* q8 J% K$ I- I/ u8 [$ ?
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 Y! y' }! Q' _  P% i  J0 V' _
所以你就會覺得D錢好似蒸發哂咁/ _& Q. E- A/ p2 G

% r$ W. |# Z% f3 l+ u# s3 ]你都可以當標野咁諗, 個樣野多人可以狂升值,
- w2 h$ ?1 F( i/ ]6 k2 u$ 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,
/ v& D9 W0 F/ p$ I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 9 t0 J" A1 u6 n6 p6 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
$ Z, F' y/ f  F+ F3 Z% G. |( Q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
' v' i- k2 t; I  K$ D; }6 m唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ S. O% d# X% ]/ K/ l: i淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * P& V  N: P* x0 p
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
/ l. [7 x5 {1 p* R: |& `/ J2 m咁你話d錢蒸發左去邊? ...

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% l. ]0 s) G3 G1 @  c% [% h正係咁樣9 ]9 D& W" H3 k5 {
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) k4 n! I( \1 M3 |2 y% t  L
分分鐘佢地唔使還錢1 ^- `- \8 z9 D

& ~0 \) j+ R; }9 j% W- i# y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,
9 `0 t# d3 N- ^. i8 }( Y- N連國家都係問人借, 不停發債券, 印鈔票
1 \( q5 F) h  q8 }% A. t% ~( W1 d: W( p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! a" I2 [. p- J. s) ~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  v) ]- F( O  ?5 E
咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 [1 N, S7 E: U/ b/ R其實係...
: y3 w! c3 C5 ^9 }9 L$ y因為以前未生產, 先消費$ M0 n. e; E/ U
而家就要多生產, 少消費