0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif+ E; Z) B9 x# y" h: g. U' v
Why bank will sell 借據給第三者???
: u9 O, L- s  uI was so confused.....

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5 r' A5 {3 b8 ?6 b  R/ {2 F+ Q9 f講到尾都係賺錢
* i: V2 ~+ e; I: @& D6 }' z# aso銀行可以不斷放款" @0 \0 G/ j7 _: g4 O  a+ P
美國的房貸問題散佈到全世界/ G: y& m! U0 c! c

( X1 [0 G0 j7 H# _1 s0 c: E; A5 L: [mortgage loan
# K; d  v: S9 P4 v. y2 K% ?  c>conduit
, ?* B9 Q' D- f" f) N- B' }>RMBS(Residential Mortgage Backed Securities)' k6 w( \2 }0 L: h5 F# |
>arranger
$ o$ [* ]% n* N, q>CDO(Collateralized Debt Obligation)
; X. X3 ^8 z8 R. s0 p9 a最後去到投資者

Kev

i thought it is the reason of rate of return./ N6 j/ y" s7 V; ^5 i1 c" ?# n
CDs could have different ratings, AAA -> F,: W: W& x! n+ l# A- v3 d6 }& ?
more risky ones would have higher premium (interest rate) as a compensation for an investment.
6 Z4 a+ w/ Y/ g8 ?' H% y9 Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* h& ^& z4 I5 L' K+ E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, C6 \6 w8 i0 i0 ]8 x9 `+ a7 qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' Y7 W; B) ^5 X: i3 [2 x
similar to bonds, CDs trading in the secondary market have different value at different times,  W1 c7 H$ c2 o% S
normally the value is calculated by adding it's principle and interest. . F. U# V( B  J; v
eg. the value of the mortgage+the interests to be recieved in the future.
4 {" f" @5 q9 K# u  u$ x9 Bbanks 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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8 w7 T# r% s8 U' r  b9 Pim not quite sure if the multiplier effect does really matter in this case.
, B' }! G' J6 T3 p/ ain stock market, it's the demand and supply pushing the price up/downwards.7 U0 l' B$ o: d* c; g/ Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 K- T$ L7 v) w2 Z$ [0 S' ]A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% {0 A( M1 ~5 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. : B0 X6 _8 \$ k
but the value of their assets did really drop significantly.& M& M/ m7 U9 B, x; |
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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
5 a7 ~( y4 M+ q* gRefer to last example,4 G  Z% ^  F% }/ W7 F: k6 E
that means bank A have no money because we borrow 10 dollars from bank A
, [- r# k; V7 D' q9 F+ F: u. iBecause bank A doesnt have enough cash on hand
0 u% r8 n3 }) T  ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! n. o( d- Z6 J. E4 t8 R3 a1 lA->B->C->D->E
- }! I+ x0 u" X+ q  ~  P2 R: Pso does it mean if E failed to pay D, " V9 b! M3 \, q8 Z* C1 P
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, " k$ O+ I6 x% m# r- I& P  X2 i, h$ y
in this case it doesnt really matter how much money is created,
6 l* A; i5 ~, C9 ?it's the problem of the debt itself.8 l3 Q8 [9 _4 u) o; r9 G" 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.gif7 j, h9 N/ o- w
小弟一直都唔明...
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" t  L. I: P7 n全世界都蝕錢，咁邊個賺緊錢呢?
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" W+ y+ c% u' @' m+ ~2 H無可能淨係有人蝕錢無人賺架嘛...2 @# ]0 P" d, ?. d" E  I# z9 S/ `1 M

2 S6 c; V6 Y4 f4 y4 }! }敬請各師兄解答
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Thanks

* e7 [0 P' I/ V" W那些根本係 紙上財富  
# v: p3 W( Y/ s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% U8 v+ j; d) E% _5 v
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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( [5 h' q5 M: G
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% |8 c4 B5 g; w4 q4 V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
0 n7 S- f+ R8 i  p: G個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ a7 `6 Y# Z0 @* B' G扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) O" k3 C# C$ N9 I6 z6 r8 |
計番回報率就已經係50%,所以可以好好賺$ s$ i5 r  p/ A
前提係銀行之間要互相信任先可以咁樣借法' o4 M: L! D" I' Q  k
同埋個市場既前境要係好先得
# ^5 P; O7 K; k6 y# G7 Z但當經濟一差,公司估值趺了,物價不升反趺
* T7 n" c  ^% b9 H( E8 C- f例如剛才說10蚊的, 趺到得番9蚊,
7 j4 x9 {' b3 k# j+ l1 [咁投資銀行一下子就要還11蚊, 一來一回變左虧200%- ]% T4 i. _* c; }( W
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,
( ]  e: }  o/ b. Z+ |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 s3 L7 e' p- c. r. O4 f
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, . ?( w# V2 F2 J% C. D# s
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 \3 c/ L9 w8 l
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
! t% @" P) o* g- n% X4 X+ s5 }唔係d錢蒸發, 而係比美國佬洗晒未來錢, 2 h* A# Y2 S5 d7 [" o7 x% Q
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, f: I* e, p/ _7 v/ 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
  G" y3 Z, Y. x  F( U2 M( I4 ~8 o3 |咁你話d錢蒸發左去邊? ...

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正係咁樣
" P- o2 F0 c' i' W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( U, f: r$ V! E( V" o4 x
分分鐘佢地唔使還錢" T  w; C0 {+ z6 [/ V: K3 i; h* t
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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,
+ H! {) t7 @% H連國家都係問人借, 不停發債券, 印鈔票
: C( \) {8 X) ]  b% {7 o一個國家好少出口, 而又大量入口 ,反映到佢唔多生產+ |9 u$ e6 U4 s4 {' {' V' w% g. b! ~
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.gif4 z/ f0 G, k. p& n. b# r: C- a7 I
咁而家"爆哂煲"算唔算先至係變番"正常"???

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' _# y9 V' Z. d# E1 g1 V其實係...
. ]) E9 Q' ?4 V' i6 Z因為以前未生產, 先消費
% i  |9 u, W/ x4 W4 O; ~1 ]而家就要多生產, 少消費