0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; }& \# j' O) _- e5 x, k: M
Why bank will sell 借據給第三者???
( K4 r2 ~1 T+ t8 H1 @  C' bI was so confused.....

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3 f* T+ @1 Q. {7 U& l: a講到尾都係賺錢4 Y: a: r1 e, z5 R& \# |6 z
so銀行可以不斷放款
% \/ n5 O6 F6 q  V美國的房貸問題散佈到全世界- `, ~0 s; ^1 M5 E3 v

! p8 g1 p$ l" p1 Z9 ~8 r9 Hmortgage loan
8 B2 [+ R% V8 n0 o" C* L0 a1 R7 w) `>conduit
5 n6 {3 {7 W1 f! g+ |>RMBS(Residential Mortgage Backed Securities)6 D( L! O2 ?$ I' y- O+ b4 D9 f
>arranger. L  x& x2 i4 b6 x' ^1 B
>CDO(Collateralized Debt Obligation)
0 Q' ?, m0 C0 g8 w/ b: o0 }  F最後去到投資者

Kev

i thought it is the reason of rate of return.
$ `) E( j& I, B. N3 K+ j6 tCDs could have different ratings, AAA -> F,  f( m. d& Y! l# [  W% S! q3 Z
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 w5 [$ B$ R* y! @; `
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* ?. A( `/ V1 H% M$ ?5 O4 Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) ]9 D. B8 Y7 X4 `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.7 l/ e; y8 S, x. c
similar to bonds, CDs trading in the secondary market have different value at different times,
9 G! J! q& T& n8 n8 _& z' n' Hnormally the value is calculated by adding it's principle and interest. 5 x7 `% d% Z9 w, H
eg. the value of the mortgage+the interests to be recieved in the future.
% U$ }$ r" i/ [0 M3 i5 Ubanks 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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7 P# A3 n& W9 @$ e: Xim not quite sure if the multiplier effect does really matter in this case.
+ p1 s1 j/ u! v, i. h( P  N) L$ Hin stock market, it's the demand and supply pushing the price up/downwards.
9 C5 @9 o2 a( ^# nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) o3 ^7 U2 Y  g2 S' E- R1 @0 pA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! [5 X) S7 k5 H# p# f$ H3 J0 Q' B
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. & A. r3 |  c5 `- Z
but the value of their assets did really drop significantly.
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; s: u4 U- ]' ~+ Z; ^[ 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.gif8 n; [+ o( C: p( j7 D+ ]
Refer to last example,
5 U6 m) `% K1 o$ `8 Kthat means bank A have no money because we borrow 10 dollars from bank A " E# {* F' k, d: W% g
Because bank A doesnt have enough cash on hand
3 u/ C8 }& O" atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E7 m4 u# P* }& B" v/ t+ R1 d
so does it mean if E failed to pay D, ) Q- a( i* t2 a4 u! t( T
all 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, ( `4 ?' b% b2 @  l3 x
in this case it doesnt really matter how much money is created, ; e8 N/ a( I( X7 ]) p: i8 j
it's the problem of the debt itself.$ J' Y4 h6 b2 j5 k$ s, s
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( w$ |% G: {! {) m; U& T, i
小弟一直都唔明...; D3 A6 e8 K1 b3 Y. c6 W3 J1 b

9 g1 h' N5 n, e' p$ @全世界都蝕錢，咁邊個賺緊錢呢?
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3 ~2 F3 p* B% s2 t無可能淨係有人蝕錢無人賺架嘛...: E) d! d5 C" u0 |0 F

  {# W8 t- r2 l2 q1 ]8 z: h- X& P( h敬請各師兄解答
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Thanks

$ V$ ^6 u9 Z9 E( i' J6 K" v* R7 k那些根本係 紙上財富  ' |+ v" J4 b( D% R, ]) p9 e
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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0 b9 n$ `5 q. Ahttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產( @8 C8 J  w1 a7 p/ M6 c4 G
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
4 \0 j, k! Q" W+ `8 |1 g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: ^% n( R1 z+ ?- c2 W) Y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; D, P7 s$ C( v6 w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊," E6 f2 }6 B( c9 [# ^. B
計番回報率就已經係50%,所以可以好好賺
5 H" u! g  O5 w' |2 h; I% c前提係銀行之間要互相信任先可以咁樣借法8 S6 a$ [8 b( S% B" g3 H3 o
同埋個市場既前境要係好先得
7 n2 Z9 j0 O5 ]: _# S7 g1 T% p但當經濟一差,公司估值趺了,物價不升反趺
% |; j( T  k9 F例如剛才說10蚊的, 趺到得番9蚊, % l& g/ h" X$ U5 e
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 t5 f' C# H  O- h" J+ ?所以你就會覺得D錢好似蒸發哂咁3 `/ Z* w9 o! V, y

1 D0 v4 E3 i0 R3 u2 M你都可以當標野咁諗, 個樣野多人可以狂升值,
; Q' E( {5 D6 @6 C/ H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,
4 ?& r/ N' J* f# r$ M8 a# b( T* e# y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : L& r- R; o: m" B3 X# 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3 H) ]$ F0 P( N* C. A1 A
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
" L! `+ N! o2 Y) Q* E0 b唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  b$ t* a& m4 |) l( s  I: S( V淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; U# t% z( C5 K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
+ m. ^  c) }& Z咁你話d錢蒸發左去邊? ...

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. M: V% l+ f  K+ r正係咁樣* P, f0 x9 ^5 P$ V8 w. N( L+ i
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
4 E4 r( l  v! y9 I, I分分鐘佢地唔使還錢
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. }9 r2 X1 m& ^2 C- s" S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,5 M9 W% q$ C% g) F
連國家都係問人借, 不停發債券, 印鈔票
4 }) U: v- G  |& y8 n一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, c4 z% F5 [5 h9 P0 n3 D1 j
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
  W& z0 w8 z! b& L2 n& T! V咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...& N1 [5 U; K: H) a
因為以前未生產, 先消費
* E3 n/ ^+ J/ x- p7 r% q而家就要多生產, 少消費