0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif5 Z- c8 ^7 }0 ^  k2 l* i$ P# q
Why bank will sell 借據給第三者???
# Y  E& n1 y9 V( a) }! R$ oI was so confused.....

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講到尾都係賺錢
" [5 Z0 P0 i# ?! \2 O' P+ oso銀行可以不斷放款4 r" b: Y- ]1 L+ r1 d
美國的房貸問題散佈到全世界
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mortgage loan
; i  M* X2 f- B+ j$ \>conduit
, w. Q1 p5 N' J+ v; e2 X7 x0 H>RMBS(Residential Mortgage Backed Securities)
) W& P1 B7 }7 D& x; a7 q>arranger
8 G8 l4 O; [4 ]( A  V1 Q>CDO(Collateralized Debt Obligation)( W* w$ f8 _# [2 A8 y
最後去到投資者

Kev

i thought it is the reason of rate of return.1 c+ y- F; Q/ Z
CDs could have different ratings, AAA -> F,
% r" G9 y0 h, Nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
( @* c9 w8 v0 h  R# n8 W5 ^; Imain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: _+ ~3 g2 o7 s
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! V: M1 D( m  E0 SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# V- P& J# ^) M! [% M
similar to bonds, CDs trading in the secondary market have different value at different times,
$ U  i/ `0 h: _8 N0 r9 u: Hnormally the value is calculated by adding it's principle and interest.
8 E, A8 Q. |' deg. the value of the mortgage+the interests to be recieved in the future. . T, ~3 I9 ~* k
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.9 ^$ S! I  [  |/ M$ s

3 V/ j3 F# f0 Y7 O. zim not quite sure if the multiplier effect does really matter in this case.. n$ ^5 U5 a" a, \3 G/ g* Z  l. c
in stock market, it's the demand and supply pushing the price up/downwards.1 R5 Y2 ]* w1 g+ k+ J1 ?% f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) |( a% B4 b6 _" H& L0 L7 _A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( T1 d  i( R% t- G0 H3 \4 oThe 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. ' |. t  o/ l9 Y- V1 m! b1 e
but 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
1 T' ]  U8 N8 B& K  z# [% h. bRefer to last example,
: k* \6 V' Q' v2 U7 a" [1 \0 x- Vthat means bank A have no money because we borrow 10 dollars from bank A $ Y7 d9 ^* L% D% G, \; J1 i
Because bank A doesnt have enough cash on hand / S0 }$ `) O( g
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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3 S  w4 j9 d3 k7 k( IA->B->C->D->E
# Q2 X' u. S0 h* w, Y3 l4 U" Y( ~5 sso does it mean if E failed to pay D, - ^, B: K, v" @* N$ \/ U) U" R
all the B,C,D,E have to go bankrupt?- J! s: ?5 b! e8 K' f. K+ M

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- Z$ C& l  R: A! q, Uthe multiplier just tell how much money created in a whole economy, , s) T/ {3 M7 p/ f, e
in this case it doesnt really matter how much money is created,
4 G* m9 M' s8 |! Xit's the problem of the debt itself.
$ `% Y7 s9 _, Q5 y% g3 Ithe 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
# ^1 `: ^1 }; U0 M# T8 o& m& E' D小弟一直都唔明...# u1 h8 J8 `$ Q. P6 h

6 Y5 [4 s! M& q0 m& \全世界都蝕錢，咁邊個賺緊錢呢?( u) d$ z  E5 k4 ?
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無可能淨係有人蝕錢無人賺架嘛...
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. T# _# H) J8 Q1 B" o敬請各師兄解答. ?1 Y" V. `' I0 t
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Thanks

; U+ s0 f& c3 O( e' j, q那些根本係 紙上財富  
8 Y/ i. m- h9 x' a* C; s7 m6 Q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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( g' f5 z& l! W+ jhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產& q  E/ R+ i7 t* }
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) W- b& R' @; w( c& k, h0 l# _3 k
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
4 ^4 D! _7 T: }2 A/ M2 J% J( [$ ^個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( w+ D( w: S2 I) o) l" J  M
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ y$ [5 ~- ~0 w$ f/ M
計番回報率就已經係50%,所以可以好好賺
9 `& m$ m+ b# o6 X" c. A2 r; m前提係銀行之間要互相信任先可以咁樣借法/ L4 Y7 s- G- E7 v
同埋個市場既前境要係好先得
) s/ J9 F" f$ Z7 e: G  G  e' S9 r, a但當經濟一差,公司估值趺了,物價不升反趺# ^  b* q9 k7 ^0 f
例如剛才說10蚊的, 趺到得番9蚊, % E. a: N5 o- q  q) e) h  r. u, F
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  O, o1 a! w' M& N  S- t  G+ v3 `
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, # u# f3 X% ]$ Y" Y% w4 J' ]: P
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,
7 P! b! \: e- Q7 D6 i! G$ d1 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) A4 N8 G0 R2 Q4 O/ F6 C" {
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6 y/ w7 n/ u3 m' M- c3 _" V& x: i
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.gif9 z7 t+ g1 \/ {- p; H3 m6 j
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) h8 {8 B, w% P, l淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 r( \2 |1 i% R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7 G/ |. z' F9 V
咁你話d錢蒸發左去邊? ...

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$ c4 c7 {8 M; y. q; r正係咁樣1 h5 H. d, i# D) S
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9 @% Q- C+ f6 y3 s
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,
1 {5 f, D" E5 R. V連國家都係問人借, 不停發債券, 印鈔票- s! h" i, n% e; Y% V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產! g. i. P7 L; p/ \3 x
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" a8 Y- V( c4 A4 x) J$ j5 l; @" D, L
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
9 \) o4 c1 ~7 }! D因為以前未生產, 先消費
1 N! U- `# C: U$ F/ x6 l  n* L& l而家就要多生產, 少消費