0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: ^& i) e+ h& y; UWhy bank will sell 借據給第三者???3 T; |+ j! W5 O1 @
I was so confused.....

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講到尾都係賺錢
: H, s, p* Q; a. U/ m" Q& o/ Xso銀行可以不斷放款8 N, _. Y/ a9 E' e" H9 T5 b3 H
美國的房貸問題散佈到全世界
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4 r7 p; @8 m. ~6 T$ Hmortgage loan
6 l3 t7 }5 ^& E( o# r% i2 w8 q' i>conduit
; y4 ~4 [) W. R7 A7 e>RMBS(Residential Mortgage Backed Securities)
9 ]6 b8 i- V1 h& \7 y>arranger: M1 C0 M; F  a7 b3 V
>CDO(Collateralized Debt Obligation)
" V8 M+ U8 d4 `9 B7 |9 v最後去到投資者

Kev

i thought it is the reason of rate of return.
! [% x- k% o3 xCDs could have different ratings, AAA -> F,8 f! c# |" h$ l5 y* Q2 J
more risky ones would have higher premium (interest rate) as a compensation for an investment.( Y0 l0 ]3 L- j+ H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* J6 a$ r8 N# k8 Ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 U4 o# y' h: _- W8 ?  f( E8 m; ZAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 |0 a: o5 R8 b
similar to bonds, CDs trading in the secondary market have different value at different times,) t# L' Y% J( K0 F3 G# |
normally the value is calculated by adding it's principle and interest.
: B0 b+ N0 {& J% Peg. the value of the mortgage+the interests to be recieved in the future. ) \+ P! T& d' t2 m/ C8 x5 d
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.2 h/ v: c4 E5 N& s* ?2 j5 \

5 {/ [* k# k" p  |0 B% Dim not quite sure if the multiplier effect does really matter in this case.: P, w: C, Q+ }5 f5 o
in stock market, it's the demand and supply pushing the price up/downwards.' F- U5 {0 I! p5 f3 j0 r9 F1 X* h
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* }/ q, H. d0 s/ I- `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
3 A: R: f9 L& ^! k. @3 DThe 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.
- I. t" Q# [2 W9 H: P% M* Rbut the value of their assets did really drop significantly.# ?* z/ J3 E' D2 }. T3 u

8 q1 A% y, ~- J/ r[ 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
0 y+ z* p2 k) W+ [8 N% s; zRefer to last example,* O/ I. S! _" R! B  O
that means bank A have no money because we borrow 10 dollars from bank A ; i( H4 g+ ~' V: y# h2 X$ g
Because bank A doesnt have enough cash on hand . A8 E: p! ?% S% G+ E
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
  g5 g% L( }8 v; Y% {, Pso does it mean if E failed to pay D, 4 |( O1 n" U  C( R
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,
+ r) K1 t* K, U1 R4 T& l. ain this case it doesnt really matter how much money is created, , `9 m* |* P% l/ }1 c$ N6 d
it's the problem of the debt itself.
1 B  ^+ |  z& |! l2 P0 A$ y8 x3 `' athe 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
. Z7 c* t5 e  V( u小弟一直都唔明...
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# r1 t! @- o' l( h. r全世界都蝕錢，咁邊個賺緊錢呢?+ z: y7 [1 \. b; w1 W. \5 g

, e9 g5 A( z# o, u3 f; s, s無可能淨係有人蝕錢無人賺架嘛...
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: f! Q, w! J3 I9 r2 {敬請各師兄解答7 H/ I8 o5 o  q8 a2 a! F; u- S
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Thanks

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那些根本係 紙上財富  , v% I  p1 G9 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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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4 }1 N: O2 k8 [7 E" N
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 Y  b6 t. x( l( F
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% N8 [, w4 |, S' @: C5 U
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦  `( ?6 i3 m8 P* H+ I& w
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 j% R7 Q; u! k9 A( g
計番回報率就已經係50%,所以可以好好賺
# d! v1 N, |" {' o2 U$ v前提係銀行之間要互相信任先可以咁樣借法8 f  w! I- ?- s) A  C0 p
同埋個市場既前境要係好先得
' B8 k( z2 V5 d+ j! D但當經濟一差,公司估值趺了,物價不升反趺" `( W) }$ a2 a
例如剛才說10蚊的, 趺到得番9蚊, ( X, Q0 m, t8 G3 s) P3 @. C6 o# w
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 h2 L* c2 ^9 T& z$ N, M所以你就會覺得D錢好似蒸發哂咁1 B6 W( o( r) m2 Y+ q. N' J: L# |
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你都可以當標野咁諗, 個樣野多人可以狂升值, 3 Y7 k: ~7 ]1 g3 j9 {) K
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, - x6 Y2 m, Q& d  d8 c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 B7 A. D' x4 t# E9 \1 i# 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 m& e# H' N" J! @" Q" k, o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
. N2 ~" p* v0 Z* n$ @唔係d錢蒸發, 而係比美國佬洗晒未來錢,
3 A: p* {# E; J! B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) ]; \5 L4 x/ c3 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
* z5 H0 [9 N2 S咁你話d錢蒸發左去邊? ...

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8 k; g5 |( K  a# t2 u/ d正係咁樣7 O/ a: X" U; A$ 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
- }# K* x. Z& R- G8 B/ o分分鐘佢地唔使還錢8 ^- `+ K+ [+ n% L
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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,
4 J" W2 ^1 d" I% p) I1 l8 O連國家都係問人借, 不停發債券, 印鈔票( g+ a) T# B2 H) S" l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
1 u( G0 l1 V# ^5 Y9 t1 g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
/ r5 T- V1 G* I# x8 d咁而家"爆哂煲"算唔算先至係變番"正常"???

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( E  X/ K6 b" F6 H其實係...
: R1 O. t' n) r  V6 y9 b  h因為以前未生產, 先消費5 G1 |" q* {6 J% d( m
而家就要多生產, 少消費