0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 k2 T+ s6 x; K! v3 G3 Q3 HWhy bank will sell 借據給第三者???3 t& E" Y0 q2 I, m
I was so confused.....

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, D$ t9 N2 ?' @4 ]講到尾都係賺錢
4 K8 B# g# W  g8 B+ W$ X. X: Pso銀行可以不斷放款
" a/ D6 C- c1 w. x. t美國的房貸問題散佈到全世界
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$ [1 T8 p& g8 K' A5 ]mortgage loan + e: B; i0 g# e  R# P8 e
>conduit
! G  O8 z2 T  c4 K' l! p; G# F  j>RMBS(Residential Mortgage Backed Securities)7 E* F# c4 X+ f' z. {: k+ T7 U+ ?
>arranger' ^" ^, t  s& I3 \7 c' {
>CDO(Collateralized Debt Obligation)
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Kev

i thought it is the reason of rate of return.9 z* \: y- f: F
CDs could have different ratings, AAA -> F,
0 O( I/ L( \: P/ Q. ]" m0 d$ K0 ymore risky ones would have higher premium (interest rate) as a compensation for an investment.' R1 \1 {: u6 f2 ~" F$ t
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, X& S: W) m$ x" \: l" M! [+ v- n7 h
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ V1 \# c- v2 J( A5 D8 q! S- T8 FAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- l9 |4 b0 O* f& q' N' b& ]2 ~similar to bonds, CDs trading in the secondary market have different value at different times,
0 M# p4 m3 w# g. v! e6 [normally the value is calculated by adding it's principle and interest. ! N: t7 D5 u+ a1 x' z9 H% }
eg. the value of the mortgage+the interests to be recieved in the future.
! _! Y' V& T! jbanks 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 Q, ~+ r4 B/ B% z0 ~# G' N

* w4 ?' P7 C" n- l5 r& b1 T9 _0 J, L$ Qim not quite sure if the multiplier effect does really matter in this case.5 q: B/ N* ~3 e0 i' ^# L3 U2 N, `
in stock market, it's the demand and supply pushing the price up/downwards.
" ^' E+ V1 X3 X$ q6 I" zFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  e$ N7 _( Y) Y1 e1 N4 e0 h
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; @# t/ h# A9 U  Y9 T5 v
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. / R" S8 h) N) p
but the value of their assets did really drop significantly.8 [; r1 W" C+ R+ l  Z1 G2 Z) s
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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
( W4 X" a5 d- K, wRefer to last example,4 V+ I: |2 F" Y
that means bank A have no money because we borrow 10 dollars from bank A
# N2 V0 c! N- P4 w8 S" ?Because bank A doesnt have enough cash on hand
; P1 v! F9 N  @4 o3 C7 _3 y4 A: Itherefore bank A need to be bankrrupt ??? Am I right ?? ...

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1 [% H# V: g9 G  L# S. _# n* c# FA->B->C->D->E
) @2 {/ A+ C7 {" @) g- U; Oso does it mean if E failed to pay D,
- g; M: j" F/ L" l. ~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,
2 F7 n$ @  p; ~9 F( b6 {8 S5 ^. Tin this case it doesnt really matter how much money is created,
/ _. S% X: j3 C3 Cit's the problem of the debt itself.
# S8 d9 [* F. ~) c0 s" _+ vthe 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
9 [* ?; E4 S' o* c+ J小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?
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/ e) T9 U4 [. l/ Y無可能淨係有人蝕錢無人賺架嘛...# ~( K+ l! j+ ^! p  ^7 k: _; s7 Z+ c( _1 M
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敬請各師兄解答
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; ]* ~' I: N" pThanks

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那些根本係 紙上財富  
2 ?' U( L& W' A# m* o9 }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 graphic9 n' [% A0 }; }* G

* g3 ^% u' [! p8 ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
' v0 V& D1 W: {8 B7 J5 K- c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 e3 v% v6 u9 N) a6 F+ t
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 L+ H- `5 d, [7 Q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 u' W, c; p2 Z7 V6 q2 n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  T5 g( S, n3 ~, |; B2 h6 A計番回報率就已經係50%,所以可以好好賺: o, r8 R# D6 k; p$ Z- I
前提係銀行之間要互相信任先可以咁樣借法) |( U, e1 i/ r  e+ V
同埋個市場既前境要係好先得
3 ^5 Y  T1 \* D7 Q5 z) t; Y% n2 X7 y  C但當經濟一差,公司估值趺了,物價不升反趺
: F& f$ |/ C+ N$ C  o+ F例如剛才說10蚊的, 趺到得番9蚊,
' {, X1 l2 I5 F3 R+ F咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 p" P( I; B- Q) p; f8 f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, % y$ q8 O: d" |& 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, 2 l2 r, r' E: l! w
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. ^9 }: _. ^. S& W4 N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1 ~( f; \$ n# j8 T- a" D8 E
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* e1 ~2 \. i6 [& [6 q. q5 A; o, k
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% b! K' s; q& K' G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 o. V0 j/ t# m/ C  _/ m+ G
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
# `. m2 _" A+ P! e% e$ s" ]2 n/ d* G咁你話d錢蒸發左去邊? ...

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+ Z$ C1 U$ v) N& y3 u; h8 T正係咁樣* i9 z0 m9 `/ E/ P4 M) G2 _
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 T& F7 d! L. Y. ~! h" w6 t2 M+ U* a分分鐘佢地唔使還錢
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( b% S$ j0 x. d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,
0 `* u! k6 [9 t  c4 B連國家都係問人借, 不停發債券, 印鈔票
/ i3 y* q4 h  u9 |+ x一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ J/ ^, K& X2 k/ s3 P! B  A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
! o2 K6 u+ A( ?0 p咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 P8 L* n1 U5 V7 h其實係...
! e7 L; _) C1 j" c因為以前未生產, 先消費
" w( ^3 f2 s( @& H0 d( i/ z而家就要多生產, 少消費