0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif: v8 `- f' h. D* p: I9 s/ ~
Why bank will sell 借據給第三者???5 y& z  |) ?6 |* ?- d% b: Q6 z6 M
I was so confused.....

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! T) o- z8 [# d% f+ g講到尾都係賺錢
+ f2 c2 ~  r% H6 \/ Wso銀行可以不斷放款
9 z4 M7 ~5 W2 O美國的房貸問題散佈到全世界7 m! ?/ U4 j" i. X" N( D3 p
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mortgage loan
$ _" d3 y' j* E0 U" Y7 h5 {>conduit8 X" \; G$ E! N
>RMBS(Residential Mortgage Backed Securities)
: g1 d4 R. W2 @; O>arranger  F+ V# Q8 Q- h. Y' Q+ `: ]/ @$ D* Q
>CDO(Collateralized Debt Obligation)
( E+ k! g6 k! x* Q2 l: i2 @最後去到投資者

Kev

i thought it is the reason of rate of return.
( n, C8 m( w$ M# G/ [. uCDs could have different ratings, AAA -> F,6 J4 `( P8 F  d5 d
more risky ones would have higher premium (interest rate) as a compensation for an investment.- x9 E0 q1 d3 W  B9 M7 P
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,: S0 m7 |+ i1 s5 o  k
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( b) q4 D/ T/ `+ QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  g7 O* Q4 G+ N7 O0 L2 b
similar to bonds, CDs trading in the secondary market have different value at different times,9 i0 w% u- T. l/ F1 z# ^. @4 o
normally the value is calculated by adding it's principle and interest.
+ }% M2 l/ k+ O! n* [* ?4 W, V4 ?eg. the value of the mortgage+the interests to be recieved in the future. 6 B+ Q0 y2 K# c: X
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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im not quite sure if the multiplier effect does really matter in this case.
% p  L1 e% w9 {  qin stock market, it's the demand and supply pushing the price up/downwards.
7 G9 \/ c. f5 \% Z3 e* @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 S# s) f1 ^$ {A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& C6 y& i$ ^& U( V/ {7 Z* }# X
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. 8 y, Z% k& c* {) s) t
but the value of their assets did really drop significantly.
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" d8 y# ?5 s0 |  l. u[ 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
6 }8 V* B. Z3 z6 d9 X: e9 RRefer to last example,
# @4 z. @' x8 J# C# A( ?' gthat means bank A have no money because we borrow 10 dollars from bank A ; j  Q& z( O: n. p+ ^2 o- a; X
Because bank A doesnt have enough cash on hand 7 Z' Y8 S4 y) c
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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  m. g' F2 Y. N  K+ w3 ZA->B->C->D->E
; _3 U3 p( c- `+ U2 y  Tso does it mean if E failed to pay D, " U' e1 K# a' H/ w; |* A9 H
all the B,C,D,E have to go bankrupt?! g! S& V5 Y* t3 v8 \+ H

  W8 y  T/ i, [2 F* D2 s* u. f6 s
0 H( K+ E* R6 Gthe multiplier just tell how much money created in a whole economy, & T# D# _) W, [" ^3 Z
in this case it doesnt really matter how much money is created,
* T9 Z% w0 e: y3 }6 g  a- ^it's the problem of the debt itself.  M, ?7 B4 y6 i5 ~, w
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  u* ^. G9 O/ A' m
小弟一直都唔明...% V( ^; W6 ~. m) \% R. f

/ Y/ l& r6 H2 A+ P; q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...* X6 l7 a; C) L3 A  k2 _, S

* h! _* ]7 w  l% S& J敬請各師兄解答% A5 X/ i) I% Q8 R

0 [# @5 X. L( G( I8 [) K! YThanks

! K; p: M* j4 `/ u4 Y0 n6 S  l
那些根本係 紙上財富  
& e) A) E# Y& o1 a* S% W+ ~; t7 B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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# N8 y5 W0 H+ X% j  vhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產' Z) O) t* f3 I6 l+ y5 L+ A; Q
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; ^9 C* O: D% ~  S% }# v. l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 G. r3 R' v5 s個件物價係市場好既時候升, 例如15%先算,變左12蚊啦3 i% \6 n6 Z" Z, e# g* x+ P
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,3 y6 L. g* G9 g+ w% f: A& r
計番回報率就已經係50%,所以可以好好賺% J, v8 G1 m8 a5 t+ _
前提係銀行之間要互相信任先可以咁樣借法, j% T8 T: a+ Y. e7 U
同埋個市場既前境要係好先得9 z" \2 f* Y- J( }+ O; ]; {8 O& K! K
但當經濟一差,公司估值趺了,物價不升反趺$ T6 }; V, }0 p- ~1 I0 j
例如剛才說10蚊的, 趺到得番9蚊,   y3 `. Z/ M2 y( @/ F, j
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%6 Z! s3 z, ~; n0 `3 ]
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,
5 v% ~; _5 O5 e8 L$ q8 D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,
9 E/ q' c5 a% z5 B淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ; R6 t- Q) |7 _- W. U& d
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
; k' u. w* n9 @$ O) p5 ^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
& E8 q# Q+ |, t5 x! D. e唔係d錢蒸發, 而係比美國佬洗晒未來錢, ' Z3 e- G3 L1 ?- b4 t
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 f4 X* U& [3 u" L2 m! L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$ ]! C. W9 y2 h2 o$ w% z; D$ v
咁你話d錢蒸發左去邊? ...

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) i: |* m( i8 |4 h0 g8 x. C. g8 G正係咁樣
5 p7 S: k) k, x2 _/ X2 j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
# l0 o" S. C4 A3 \% b9 U: k分分鐘佢地唔使還錢; S6 x8 }$ D$ G# [! C
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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,$ V! ~/ ?( O+ @) m
連國家都係問人借, 不停發債券, 印鈔票& y( a% R* {* W. S5 i- t) J7 F1 J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產8 Y+ _+ J( U2 ?' x) q
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' H/ d2 v+ Z$ a2 J* L! q1 q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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: @6 Y( ?( Z8 G其實係...
, r( S- ]/ F/ a9 l% k因為以前未生產, 先消費, ?- F3 [. g; ?4 i. t
而家就要多生產, 少消費