0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: U6 S. d$ f0 ~4 Q3 j# X3 pWhy bank will sell 借據給第三者???
; u% S. z) O3 U7 b0 J$ F. AI was so confused.....

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講到尾都係賺錢
' n4 o- q- n; W% Y6 e' D4 C% nso銀行可以不斷放款
, d3 m- y! d/ g2 V0 q6 s美國的房貸問題散佈到全世界
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mortgage loan 0 l  }& x, D( H# |( D+ Q* X
>conduit9 [& ^+ S) c6 W) T4 s
>RMBS(Residential Mortgage Backed Securities)" V' g& v! Y% G8 S- z
>arranger
8 }, C1 s7 S+ C0 P8 q2 H* w& h# j>CDO(Collateralized Debt Obligation)3 _, y3 l5 T/ o
最後去到投資者

Kev

i thought it is the reason of rate of return.$ V0 V7 l) W2 d( c! ?
CDs could have different ratings, AAA -> F,- X% ?$ L* j7 S6 M7 R% i
more risky ones would have higher premium (interest rate) as a compensation for an investment.5 ?9 S$ \# v, S
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& ?2 l, V# F3 {# w' L
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 [& L$ p2 f, q7 e( |" Z) u0 LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ P/ K* x, F8 V0 m/ J. r( Hsimilar to bonds, CDs trading in the secondary market have different value at different times,
- m: `; j0 J! J* j4 y/ G2 Hnormally the value is calculated by adding it's principle and interest. # A! o# b# v6 P8 O! N. K  G/ j6 Q0 Z
eg. the value of the mortgage+the interests to be recieved in the future.
/ o5 H' B  D: [8 ?. ]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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* C( `& l% D2 ?( Fim not quite sure if the multiplier effect does really matter in this case.. a% z" k" q- ]
in stock market, it's the demand and supply pushing the price up/downwards.3 x3 Y6 l" r6 `4 t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ _9 L1 R, ]- U; M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' S7 W$ n$ m5 N9 e+ eThe 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.
, Y: ~# O( U* O* G6 ibut the value of their assets did really drop significantly.
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* g& P' q. S% c$ c[ 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
: j, @4 @0 E4 P* @- L) s  ORefer to last example,
$ k7 R) z/ m8 }1 d3 O6 ^/ M1 V; q5 r" cthat means bank A have no money because we borrow 10 dollars from bank A
& I# n6 w% N; m( |6 UBecause bank A doesnt have enough cash on hand
, D! B# T- W; ~0 [: g2 `. ttherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E2 T2 G8 G, E6 e: ]! D% t/ u# r, ~/ g
so does it mean if E failed to pay D,
+ w" f5 R& P4 X5 }6 Qall the B,C,D,E have to go bankrupt?& \, o9 c, I/ s9 S6 {# S  |
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7 ]0 J* ]( e7 \$ tthe multiplier just tell how much money created in a whole economy, ; t. o3 B6 k5 o) {0 b! d
in this case it doesnt really matter how much money is created,
: e$ K3 r! r; x; z+ Xit's the problem of the debt itself.
/ l4 Q7 e2 U1 o* z" S  c- Rthe 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% k# j& I8 w. n& V  d8 _
小弟一直都唔明...( \, I0 b+ L6 a2 D9 b
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...! Y; ?, B- U/ D
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敬請各師兄解答  |+ p( s/ n3 E* Q% k( d
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Thanks

: L  j: A2 p) a3 {3 ^" U* c0 O那些根本係 紙上財富  4 v( }/ l: F- P1 G: l( n
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! _# \* B% r$ P0 Z/ c

: K4 b' z6 V+ h- ]* V3 _8 z1 Khttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
7 }) a3 u5 a/ R) s. t& f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" p  X5 \# B# h$ A- H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2 H) V5 H; T% ]2 J3 \+ M! U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. |7 I# ^# o$ H1 r- Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,$ |# m5 i9 N9 M8 T
計番回報率就已經係50%,所以可以好好賺) R  r* u' i8 P+ L6 i
前提係銀行之間要互相信任先可以咁樣借法6 L* @( k1 x$ W( s- o  N- S
同埋個市場既前境要係好先得
( A2 d- K% j2 ~, ?6 }- P. F' w& U但當經濟一差,公司估值趺了,物價不升反趺6 \6 k1 Y- e  ?0 d( e
例如剛才說10蚊的, 趺到得番9蚊, 7 |3 O3 M/ v" K( L* r
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%. K( J: n% m! \" ^- a
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, 3 Z9 u1 M0 Y9 y; I
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, ; q' t% R( q2 \4 A4 R
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + Y) Y: A+ {- H2 O
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0 \7 f3 h$ _! 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
* ?6 h* _) z% M6 d' r唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) q  @3 F7 l/ I( U淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . T9 I( U+ u" t; I. K9 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. _/ o2 R$ f+ M
咁你話d錢蒸發左去邊? ...

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+ p$ E4 O& I; Q4 ~正係咁樣
3 P. ~* b. h3 U( E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
& y5 D+ F, I) E8 f! r分分鐘佢地唔使還錢# I2 e0 }2 M# p( ^& S) X

7 u1 N  x: A; \/ H; w! K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,
( Q% M" K7 h$ y5 N$ e/ `連國家都係問人借, 不停發債券, 印鈔票
% A4 p9 T, |: a$ ^1 |6 R一個國家好少出口, 而又大量入口 ,反映到佢唔多生產- {, m+ O* _* J& T, `
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
) r1 b0 m# I; F# \咁而家"爆哂煲"算唔算先至係變番"正常"???

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* {% ]; E5 B2 D6 _/ u( v% a其實係...
; W9 m$ j3 B; P) ~$ }* q因為以前未生產, 先消費
( C8 l# M# E% Z8 G; @/ X而家就要多生產, 少消費