0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 K; T! z! `# P2 vWhy bank will sell 借據給第三者???, k: H0 v- K( _- W
I was so confused.....

+ V. R5 L- C1 v0 j' m7 N: p
* y* D' y1 ~9 s! F講到尾都係賺錢7 D% A' R0 Y9 l; B3 ~8 o, b$ b$ F
so銀行可以不斷放款
. i  Y  W1 D+ R$ t2 G美國的房貸問題散佈到全世界
+ H4 F! I4 T8 V
& a: S1 M3 n' F5 C8 {/ r( amortgage loan
5 f$ }! X( W7 \- [6 _2 w! _>conduit
/ h4 h1 z+ j# F4 R>RMBS(Residential Mortgage Backed Securities)
- \; |; L+ J! w( l# a>arranger' M* M' E6 Q, T2 ^6 v* i
>CDO(Collateralized Debt Obligation). ^8 R- q5 y; o, ]7 F" h
最後去到投資者

Kev

i thought it is the reason of rate of return.& S4 R1 o$ p: @7 \& g  Z* g
CDs could have different ratings, AAA -> F,9 Z9 `% h% c) b$ ^/ O* S9 u/ X
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 C: P  }( y% ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ D* e; @9 @, Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." r8 _$ |' n( A& S, y4 ]
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.0 @4 v7 G$ s- e
similar to bonds, CDs trading in the secondary market have different value at different times,3 o/ d- N+ @) s) {" O) N, Q; k: e
normally the value is calculated by adding it's principle and interest. 8 ~% L6 Z; u  g, J  K8 h
eg. the value of the mortgage+the interests to be recieved in the future. ) p2 m2 m! M4 _1 u; B/ ~
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.
' ~4 G( Z1 Z3 k/ r: p
3 U7 u3 D9 b, [: a  s$ a2 I4 Fim not quite sure if the multiplier effect does really matter in this case.) J' h+ F$ b7 _& X. |2 O7 T
in stock market, it's the demand and supply pushing the price up/downwards.
  O/ ?9 l! W* M3 r" a& w% @& ^For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 g3 H& T- T. d0 z7 M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ x- N, l2 \  ~- L% N' ^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. / O6 f' _. _* Q, m: f
but the value of their assets did really drop significantly.
- V3 p- z8 r6 M( S% R3 {/ R
' b( [5 Z# G1 n# d) g[ 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
0 _" Y5 `' n/ s5 \Refer to last example,
. }, k' V; }' n4 Q1 @8 _that means bank A have no money because we borrow 10 dollars from bank A
+ y9 Z- n; E  wBecause bank A doesnt have enough cash on hand
9 p, i8 R3 J+ K- o; Xtherefore bank A need to be bankrrupt ??? Am I right ?? ...

$ z4 l* K  l  P4 u
# K" V8 W$ F. ~( i; q7 i% _. F$ K' ^4 x  Y5 t; t- W/ [" w
A->B->C->D->E
# J4 a, W. x( R+ x4 jso does it mean if E failed to pay D, & k* R3 a# w8 m9 e: f3 u& Z/ Y
all the B,C,D,E have to go bankrupt?
% W' Y: K; M4 S2 p5 `  [! x7 x; z8 y

* a1 ?, y% k5 @, C( Vthe multiplier just tell how much money created in a whole economy,
5 r! ?0 {: ?& f3 o' a7 O) ^6 ]$ ain this case it doesnt really matter how much money is created, & T9 B: H7 \7 y, r: P- [
it's the problem of the debt itself.
3 A" n3 s3 Y, ~8 P  T6 N8 ?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.gif0 L. m' _1 c) r# |0 K, ^
小弟一直都唔明...# t' L0 m/ {% i6 e* g4 `

- R: c7 z; r; ?  I  ?全世界都蝕錢，咁邊個賺緊錢呢?0 M( f3 z, |3 e8 X4 w9 T+ W+ B

( E: ?" |* O- ]' E; [8 |無可能淨係有人蝕錢無人賺架嘛...$ P1 K1 j) Y$ x# y

0 l7 A  `& m+ `0 w' ?( V' H敬請各師兄解答
; J$ g( V2 V% C6 N6 p# v2 ^0 b7 J
  i, G& V% H2 L9 [$ AThanks

5 \% |4 V( o" O  D5 A, s5 k那些根本係 紙上財富  0 }: j1 U$ ~4 Z# P( o4 m+ @2 A
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
  y# r$ Y0 b1 m7 F8 r# W0 Z; g; ^0 h8 ?3 u, D! l
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
) R* t& B5 C' p1 Y  a- }& ^" ~當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
7 I0 Y; ^* y) 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! g$ ]& V- p# b: w9 V* w4 _
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦$ [5 D) d. p: P: F  F9 j+ d2 t) U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,# _' Z2 a! }! R4 [# K$ V& H
計番回報率就已經係50%,所以可以好好賺; s0 e' A. b& n" f3 y/ O% e
前提係銀行之間要互相信任先可以咁樣借法
+ l* h. J' o& ?% ]同埋個市場既前境要係好先得
* [: X; [7 E$ c但當經濟一差,公司估值趺了,物價不升反趺
! O8 x( I' ^) f0 m+ x7 J例如剛才說10蚊的, 趺到得番9蚊,
! p6 B3 ]0 l2 X. B( L咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ K' k9 ]. ]* C; A+ ~
所以你就會覺得D錢好似蒸發哂咁
; S  \0 O# h% x  D3 o
3 z" C+ U+ l6 ~你都可以當標野咁諗, 個樣野多人可以狂升值, 7 A) q5 p, u" t
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, 9 u7 |- B9 {9 e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : g: Z/ w6 u% Y2 E+ m0 M3 U2 }
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 a" j; k2 ^2 r: A0 T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
3 X' K* ^3 p5 @1 O唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& w- L. X6 P: ^" \淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
& X1 W" z4 [. G: |3 E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
) {; A. w. G) [8 T1 A/ _2 d( d% T; {咁你話d錢蒸發左去邊? ...

9 R) ?( W( b# N
2 H9 K' p" m5 d2 U; ]6 H
正係咁樣
5 F* `$ B7 Z( n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
2 K1 v. g4 q- P/ D* Q6 H) @$ u分分鐘佢地唔使還錢: J9 o$ I! O6 {6 V. o! E9 X7 l

0 c7 k; C1 s2 F5 e7 a! C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,% ~* ]) F; d  T9 o4 S. P; s0 W
連國家都係問人借, 不停發債券, 印鈔票
( @& Q1 {+ P* K! I4 {& {一個國家好少出口, 而又大量入口 ,反映到佢唔多生產2 j0 g# ~/ W  ]) D7 Y4 C
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% A3 b+ a- F9 k* U6 |, W, d
咁而家"爆哂煲"算唔算先至係變番"正常"???

, L" K! z; k! z2 [' F
! Y' E  C7 Q: ~5 u# q+ ^3 O其實係...
3 V+ D; N* U! @# C* L: o因為以前未生產, 先消費6 M4 J$ D1 c( c7 j* A, U8 `: }
而家就要多生產, 少消費