0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( j5 z& W* l; [7 I# ]8 eWhy bank will sell 借據給第三者???
7 O& F( U, O8 T/ S  A+ r, EI was so confused.....

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講到尾都係賺錢
9 L& F# T" f( B0 M( }so銀行可以不斷放款
4 ?1 d& {- v4 h美國的房貸問題散佈到全世界( `+ m. |. [0 i5 U/ }

1 @# P) N1 x- j. ^5 N& ]% A2 nmortgage loan
3 M3 a- I. N, i) o0 l# E& n' c$ y>conduit* z! F+ ^9 D) n  Z/ l% D
>RMBS(Residential Mortgage Backed Securities)
1 J! l/ p9 d. A$ g* G2 s>arranger
5 q* G6 i# z' J$ D3 F>CDO(Collateralized Debt Obligation)
4 s5 k: p4 _1 C6 F/ N; G( q最後去到投資者

Kev

i thought it is the reason of rate of return.
; w  z0 I* C. G: lCDs could have different ratings, AAA -> F,4 Y. x$ u( T% T7 J( h
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( l3 v% d4 ]! m. r$ S9 F& U. }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ |: ]1 X1 t  v, G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ h4 x2 S1 Q& EAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 O6 f. z! P: y7 Z# ?# ?, Y: a
similar to bonds, CDs trading in the secondary market have different value at different times,( Q( i; ~1 \9 Q
normally the value is calculated by adding it's principle and interest.
1 n" G$ o" A4 P, K  l0 Y" ?3 |eg. the value of the mortgage+the interests to be recieved in the future.
  n  D, ?9 O5 a! Z) I. dbanks 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.2 x0 B- Z/ c+ d( Q3 L

1 c3 T) o# r% Q) u8 Uim not quite sure if the multiplier effect does really matter in this case.) R6 p6 P6 E# O2 N( e* h' b
in stock market, it's the demand and supply pushing the price up/downwards.5 C+ t7 [: }  X: Z# Y8 j9 J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
8 \  X& X7 [7 [  D5 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 O  o! h2 y7 v/ d. g5 aThe 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.
% K9 t6 a0 @' Y5 Z  [+ {: sbut 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.gif8 {* s6 l9 W  r. G3 L
Refer to last example,) t- e$ L5 z/ P2 Q- P4 C7 R
that means bank A have no money because we borrow 10 dollars from bank A
) T- O' f2 |6 Z% _  v1 HBecause bank A doesnt have enough cash on hand   j! u! J" j; Q! w; P
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
: T% o2 x- O9 }4 Rso does it mean if E failed to pay D,
. l0 P& L4 ]* H) J$ Tall the B,C,D,E have to go bankrupt?
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" F# k2 k+ a( f6 Nthe multiplier just tell how much money created in a whole economy, / Q! l8 J( m) `! A; m
in this case it doesnt really matter how much money is created, 5 N& h9 K. P2 h
it's the problem of the debt itself., g" S' B  B) S' W2 ^1 b# a8 `' [
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# I6 a6 G  g0 w. q% |
小弟一直都唔明...
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# M# X6 [# |9 E8 t- q6 ~9 V全世界都蝕錢，咁邊個賺緊錢呢?
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0 F0 F* Z' S8 Q/ p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* I8 H' l2 K  q
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Thanks

9 o/ T% I1 G- F( H' `: ~- C那些根本係 紙上財富  
. C  N+ C- J" D6 g8 l3 d1 o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( ?* r! X" s& b1 h
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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
+ O8 u+ X" Y4 c$ j當經濟好,投資銀行相信會賺錢, 物價既估值相對較高. ^( K2 Y. r! c( w0 I
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! s: w% r+ u7 A0 ^
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦- s) X% J: ?, E/ e2 S" s# j
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 s; t! }% ]: I# T
計番回報率就已經係50%,所以可以好好賺
, K5 R' V( o# j  c前提係銀行之間要互相信任先可以咁樣借法
: z0 y$ h% [. y( q/ v/ ]* w同埋個市場既前境要係好先得
8 q4 |; h; b4 M% Y, a, s但當經濟一差,公司估值趺了,物價不升反趺7 n: e# ~: v# i) R; _' W
例如剛才說10蚊的, 趺到得番9蚊, 7 K3 Z9 s# v1 R5 A% T$ m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%  z0 s9 t4 V  @/ ^; z* T6 H3 N
所以你就會覺得D錢好似蒸發哂咁' d5 d1 Z- Q2 a* C5 f) H2 h; p
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你都可以當標野咁諗, 個樣野多人可以狂升值, * B& u) T* C4 [2 @
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,
  c$ e  Y8 K# \8 @. Q$ |# m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ) ]: {7 _3 S6 P9 B0 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, \$ u6 C! x, N# w! ~
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: b" T/ ~" w# T
唔係d錢蒸發, 而係比美國佬洗晒未來錢, . L' `% {5 V) ?  Y' h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 r) u- ^8 _: Z& 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
! a6 }1 W( D* E6 z咁你話d錢蒸發左去邊? ...

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正係咁樣) u9 z7 o3 L* `$ n* R
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% m: u( A2 ?" i6 \: K0 g
分分鐘佢地唔使還錢" f0 x* z. t$ s+ q) u

/ `/ R7 v) E3 j; G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,/ |) v& c6 Q& t: O, o! t# L
連國家都係問人借, 不停發債券, 印鈔票
$ s. |7 F- |; g8 D6 s  k) [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產& Q1 P/ z1 w3 R* S# y! W
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.gif8 s4 }! A3 p  V3 O1 M
咁而家"爆哂煲"算唔算先至係變番"正常"???

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) r$ X6 a% y& S% L/ B6 B# f! g" T7 X其實係...
* g" p# q) q& c; j- `( z1 z因為以前未生產, 先消費
$ r' H; j/ L; B& f/ }. B0 L而家就要多生產, 少消費