0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 l! f1 q6 E4 f3 [: D
Why bank will sell 借據給第三者???
- g' F- m- u8 m! |9 LI was so confused.....

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1 \( }- i( a6 h( j, F講到尾都係賺錢& |5 K! a* F9 N+ M1 \5 Q/ y
so銀行可以不斷放款1 U! Y+ n0 k% g( ~/ e- h' M
美國的房貸問題散佈到全世界# b7 M$ \8 S1 u. T: h# h/ [
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mortgage loan
9 c; ~! \0 J  c3 i- l>conduit2 O2 t& i9 a; [3 ?; z7 U; m4 [
>RMBS(Residential Mortgage Backed Securities)
+ W: H6 g$ b% y) a7 g' i" q>arranger$ o3 A, c  W! a  r4 _0 q
>CDO(Collateralized Debt Obligation)
4 _! d$ l) x% q$ r7 W% ^5 P最後去到投資者

Kev

i thought it is the reason of rate of return.1 ^2 E% ~* G, Z# K0 H, l# d$ N
CDs could have different ratings, AAA -> F,
) _" f, d; S) h6 Z) Qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
" Z& H. u# q* hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) a6 |! i6 c0 M2 e  {% f& I6 Oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' N. h; v: W. p6 AAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' X% @! x* T( A: S  jsimilar to bonds, CDs trading in the secondary market have different value at different times,
; s) `/ a5 n$ w, unormally the value is calculated by adding it's principle and interest. % R4 w; x5 v  J5 ~. I+ H
eg. the value of the mortgage+the interests to be recieved in the future.
$ |. e6 _4 U. R; [: T! Pbanks 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.: ]. r8 L9 U; l" ?+ q

/ A5 O3 d* I( l; y# ^im not quite sure if the multiplier effect does really matter in this case.( V2 r: |; r$ N3 |% M- {
in stock market, it's the demand and supply pushing the price up/downwards.
3 b1 f( P( @: E  U& o$ {8 xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 @7 c9 a) }- K" |7 K; i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. h9 b6 V6 j0 L9 ~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.
9 g2 k$ [3 u; D' i' ~! d) bbut the value of their assets did really drop significantly.( _' [& w) E9 _  a/ y" n
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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
4 j* ?1 p, A+ [2 V. O' p9 p" N) @Refer to last example,
8 t/ F  T: J1 F% _" P. uthat means bank A have no money because we borrow 10 dollars from bank A ( T- h6 W4 }  H7 O' n, U
Because bank A doesnt have enough cash on hand 4 Y( x2 E. J, R; b- a" P1 T
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 }9 I6 }; ]$ ^' e
A->B->C->D->E
7 |* G, S7 j! a7 B2 ]5 L; r; cso does it mean if E failed to pay D,
7 a- P; L  H0 call 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, + G1 ^  I6 k. F6 j3 g
in this case it doesnt really matter how much money is created,
% N1 ]2 @) r0 U# e" Pit's the problem of the debt itself.
, g2 K) b. M2 U9 {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
  h7 D. q2 W; I& q) x小弟一直都唔明...
5 x" X& T5 y- V$ `8 g! Y5 y. i; T( J( Z0 I  \5 z' |- V# N
全世界都蝕錢，咁邊個賺緊錢呢?( ]! q8 [1 ^* u1 X4 g( W8 y7 w; T
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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7 _9 [( x8 ?$ O) u1 cThanks

: z6 i* D/ ]. R3 g3 I那些根本係 紙上財富  
) i. ?" E- ?. d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
6 w% Z3 I- v( k: W當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
, D$ x2 K) h% [" K3 O+ k1 W# P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9 I3 _) h0 l6 t7 N
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& C) Z+ _$ ]5 K& n' @% I' P; [扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,( z/ ~9 q( o! y) e6 O$ m
計番回報率就已經係50%,所以可以好好賺
: ?8 G' A3 g, Q. n" w前提係銀行之間要互相信任先可以咁樣借法9 d- f8 l0 u7 B) B' x# f# b
同埋個市場既前境要係好先得
1 A# ]& t: ]0 s0 p4 K' y. y" J但當經濟一差,公司估值趺了,物價不升反趺- S, `1 z& H; j8 X6 W" }
例如剛才說10蚊的, 趺到得番9蚊,
# g8 }- a8 c4 Y7 Z# |) j  w2 ]咁投資銀行一下子就要還11蚊, 一來一回變左虧200%$ m/ ~1 Q+ g2 P/ b, U3 K% T( c* N, E
所以你就會覺得D錢好似蒸發哂咁% e) |6 W! s8 Q" t2 E

& f  n, _2 p9 n* z你都可以當標野咁諗, 個樣野多人可以狂升值,
2 L$ j7 T2 N0 K1 ~$ u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,
3 r, d$ t) {7 q* b) ]4 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ E7 w" Z2 d* \7 M. `' \
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
2 ~: U4 a% u: g# d% r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
9 |3 c$ B6 J& r, b, d4 f, o0 [唔係d錢蒸發, 而係比美國佬洗晒未來錢, , [% z, N3 C' D' ?/ p
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 P1 d1 i# u0 }* 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4 n& m' _, T9 I" S- w6 V4 N/ \
咁你話d錢蒸發左去邊? ...

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正係咁樣
! i* y8 I& }: |1 j4 x! L. T  W7 l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: v2 p2 E8 B/ b4 V5 ^0 p9 h
分分鐘佢地唔使還錢
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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,
! p5 ~- b& {5 {連國家都係問人借, 不停發債券, 印鈔票" q" j0 M# G- `0 l. L- L
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& a' \2 f+ k$ `: `8 b, `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
; Y( i  D% J& ^# B咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  G& `) d7 E8 N/ H因為以前未生產, 先消費; d8 U% r" k9 o/ ~4 e
而家就要多生產, 少消費