0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
$ u. c9 i/ w7 c: h8 t& R4 l  L) A" T1 {Why bank will sell 借據給第三者???
% T- t8 c/ \! JI was so confused.....

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: y( d, V5 a- b6 L5 H& l講到尾都係賺錢
# o; t2 ^3 F3 E1 Dso銀行可以不斷放款* s0 |& \" ~. P% ]$ k
美國的房貸問題散佈到全世界+ C3 p% y# Q/ q+ e8 Q
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mortgage loan
- d' C, T) u1 Z3 H>conduit
0 r. J/ r/ b+ l$ z, b>RMBS(Residential Mortgage Backed Securities)
  S0 f, v/ h. D3 p>arranger
8 o0 }0 J$ y4 y) I# z>CDO(Collateralized Debt Obligation)
6 `3 w1 c, v* d* X最後去到投資者

Kev

i thought it is the reason of rate of return.6 r6 r' X* B' T
CDs could have different ratings, AAA -> F,
1 |. Z+ E7 Z3 tmore risky ones would have higher premium (interest rate) as a compensation for an investment." u% y8 n* d7 S& |# l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: P( k) Z$ q6 m* ~+ ]$ Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! ?# R7 t* V8 tAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ \( L) a# x% c1 E9 s
similar to bonds, CDs trading in the secondary market have different value at different times,
# i: S- g: j8 U4 Ynormally the value is calculated by adding it's principle and interest.
% [' D5 j1 }3 e3 m/ {eg. the value of the mortgage+the interests to be recieved in the future.
3 w* ?3 Z6 V* Wbanks 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.: \  l: w" O: w/ A7 Q: y+ C
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im not quite sure if the multiplier effect does really matter in this case.4 B1 w4 D+ z- t+ G( }0 a
in stock market, it's the demand and supply pushing the price up/downwards.* U% g0 Z3 [( z, s& K9 Z  |
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( `# `  S5 x/ T4 S9 o7 tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- K1 m) v3 e7 x6 v( M
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.
. d1 X9 @* n/ y- X; Ibut the value of their assets did really drop significantly.
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& e) e6 H6 V# D; O[ 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
) k5 X& y) B) U3 M; w3 |( ZRefer to last example,
5 o7 x& T2 g( z$ X. t( zthat means bank A have no money because we borrow 10 dollars from bank A
3 Y) ]  B8 T* J( B  c/ EBecause bank A doesnt have enough cash on hand / R0 D$ V1 a8 z- E& a  Z, c; f
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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" H, j8 J. c5 X7 g) K( J6 wA->B->C->D->E
9 R4 v& I; s9 b- f% d' T/ ^: dso does it mean if E failed to pay D, 5 l( u0 E- \( h( X4 V( x
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,
( A! `0 t* p) `2 _' i6 Xin this case it doesnt really matter how much money is created,
1 H/ P& }9 n1 L# Dit's the problem of the debt itself.5 o, h' n0 u& w& |. X1 b, I
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! K$ u$ X, A8 i8 F! a' H
小弟一直都唔明...
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" z' u: H" l- s& J+ }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...* H9 j! H. r% J' k
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敬請各師兄解答
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1 {5 W( p- N( R0 yThanks

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那些根本係 紙上財富  
5 O6 {! o9 M4 L/ J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 graphic0 w/ s( u6 X/ v- l& e( r. F% V' M
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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
0 n! G. h1 y9 K# D當經濟好,投資銀行相信會賺錢, 物價既估值相對較高/ O, G. N  k  D; d% i, v/ U
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# f% L6 E6 M/ t, }7 m. X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 c) u. X6 _. ]% H
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,, Z2 t1 }' S/ E# l6 Q" H( \
計番回報率就已經係50%,所以可以好好賺
7 Y9 Q8 S8 r/ `1 ~! [0 A! S前提係銀行之間要互相信任先可以咁樣借法$ W4 U; S. n* H, J
同埋個市場既前境要係好先得
: u# j! `0 g, Q+ h* k1 A$ h但當經濟一差,公司估值趺了,物價不升反趺0 \' ~% R% I! S* A
例如剛才說10蚊的, 趺到得番9蚊, + l7 N4 P' x* O4 Y% @
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
9 T8 e! s! O. M- k, X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 m; p$ L* e, h/ T$ n( O8 w/ A$ r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,
' S5 _, E9 Y1 ]* ~9 c& [: m淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
! H3 ^9 J+ F; @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9 G' p: p3 T" L+ g
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.gif2 `9 r& f& C8 l$ |
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " x8 S+ z" K% _( m( P! z' U5 I3 Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
3 P. \2 g* L/ S4 l5 ~# y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 d. P# O7 U: ^6 P1 ^8 @
咁你話d錢蒸發左去邊? ...

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正係咁樣
  ^0 j1 s2 N( }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# {% b6 s4 \# Z! e
分分鐘佢地唔使還錢$ H( _) j/ v% W: u  p% k
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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,3 c- K) }" J$ E3 j7 W- ?
連國家都係問人借, 不停發債券, 印鈔票5 d% Q' W5 E( N+ R. M
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
% F/ E/ ?2 U- d! a7 E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.gif1 a; \$ }) E& S/ N
咁而家"爆哂煲"算唔算先至係變番"正常"???

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# R' ]" P) k3 W2 i% Q- x其實係...
/ G- j# ^; s5 n# n" S3 C1 e0 @! _6 o因為以前未生產, 先消費. p6 d# [$ z) r5 j) P1 L# G4 ~. l
而家就要多生產, 少消費