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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" Q* J4 [6 a: V. X5 C
Why bank will sell 借據給第三者???
) m( Q  Q$ |8 |+ ]I was so confused.....
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講到尾都係賺錢
$ x, A0 A4 Z1 ~2 o3 g" ~/ hso銀行可以不斷放款
: i1 T% [1 g" i# c$ E/ S美國的房貸問題散佈到全世界
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)# P% W* d0 w% d3 X/ N
最後去到投資者
i thought it is the reason of rate of return.
! I5 H: w' i. d5 U$ \CDs could have different ratings, AAA -> F,; C, f) T9 w7 V% e5 G6 }
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ j1 \6 p$ y' p+ a* |
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 l  S3 c+ z6 d) O, z2 H4 Lin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  k. l* P7 [2 y3 c0 d+ LAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.- A/ `0 j% K4 m
similar to bonds, CDs trading in the secondary market have different value at different times,. }7 X! Q  R. W6 `8 d' J! g( D3 R
normally the value is calculated by adding it's principle and interest.
- I- c# b+ m4 `5 b" Y! weg. the value of the mortgage+the interests to be recieved in the future.
  p4 w6 d' `1 F8 ^8 {+ @/ d" _0 ?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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# i4 z0 P) B/ u2 J0 _im not quite sure if the multiplier effect does really matter in this case.+ C4 f$ Q/ G. R1 c$ B4 I4 j
in stock market, it's the demand and supply pushing the price up/downwards.
6 X% r& D9 o: L' ~) h1 l9 A( HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# W3 p$ z# X/ Y; ^1 GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* m8 O5 O; S* }7 J" a
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. 1 f. ~; w2 [8 u$ t/ Z) p' k5 x& Z
but the value of their assets did really drop significantly.9 d: I) @! `6 N) N+ p  V
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif( [& S8 C2 D6 }$ |
Refer to last example,  ^/ B9 |' k2 x0 G1 q  ^
that means bank A have no money because we borrow 10 dollars from bank A 9 I+ ]8 y& ^0 j- ], |1 Q* y( _  h
Because bank A doesnt have enough cash on hand
9 L8 y5 k$ V7 R* [4 S8 X# ltherefore bank A need to be bankrrupt ??? Am I right ?? ...
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$ T& e$ q2 c8 h- fA->B->C->D->E
2 @! R6 t3 C+ T0 q1 _; Bso does it mean if E failed to pay D, 8 ]! c; V& X- F! y, c
all the B,C,D,E have to go bankrupt?. c- U) o+ g* e# _8 `- L

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the multiplier just tell how much money created in a whole economy,
/ F0 h  B4 M( y% z6 {  {in this case it doesnt really matter how much money is created,
, B7 O0 f: d7 E2 J) `5 P4 ~1 Oit's the problem of the debt itself.
6 F, z' p) k5 o" [* W  dthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif0 S  r& A' |4 i1 G- P* J' _
小弟一直都唔明...9 |. x" o) b6 f" g; J* I

) P0 i7 I: O" g8 e全世界都蝕錢,咁邊個賺緊錢呢?
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8 p3 a  {7 r, P0 i無可能淨係有人蝕錢無人賺架嘛...
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) u' N  o6 c+ |- h3 e敬請各師兄解答
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Thanks
. m$ [7 K. j: c) J+ Y1 @" d3 i那些根本係 紙上財富  5 x2 O" [* l" S! N3 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
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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" ]. f* C7 I* e# Lhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
" U6 J. y, t1 x4 z( ^  T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- G, y' N: o3 ^" F8 ]! v4 y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 K6 P1 @( Y8 `3 u* b7 ~7 b' m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! k1 z# W5 ~: {4 T: M; m6 a
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ E, i- e; Z" @3 _& O. x9 K計番回報率就已經係50%,所以可以好好賺$ T; \' |( t* S8 z) q4 I# u6 p4 S8 F
前提係銀行之間要互相信任先可以咁樣借法
$ n3 w/ i" u+ g3 W同埋個市場既前境要係好先得
8 g9 I: t: B% P2 Q2 S7 c但當經濟一差,公司估值趺了,物價不升反趺: p  l# @9 R. N1 i& @# i
例如剛才說10蚊的, 趺到得番9蚊,
! T& m( Q+ h  n4 z/ _( t1 ~咁投資銀行一下子就要還11蚊, 一來一回變左虧200%* ?. p' a' Z% z* R* x2 L& C
所以你就會覺得D錢好似蒸發哂咁. x4 r* |/ M5 ]* \/ U
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你都可以當標野咁諗, 個樣野多人可以狂升值, . Z1 b/ L' @% z. K: o, S
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, : |; Y7 \- f. W( Y* i: _
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, , E+ v: y7 H  h8 p, W
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- F& e3 X% b6 V# g; [* s! ?$ I
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 i. K( g: i$ v6 u# T唔係d錢蒸發, 而係比美國佬洗晒未來錢, 0 [5 s) q9 b8 D: W! R# P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 v$ w$ q/ w4 c1 Z8 e- G, H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' n( O; N* r- H8 \# D7 `
咁你話d錢蒸發左去邊? ...
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/ k6 g+ U$ l$ j正係咁樣
6 P) Q! H3 Z1 Q4 ^; g7 i% i: \9 x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6 W7 A9 J2 p: T
分分鐘佢地唔使還錢4 B, x( k6 w8 X4 M2 a
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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,+ p: s% G! W" V3 C
連國家都係問人借, 不停發債券, 印鈔票
% E/ q8 ?. [8 a! C$ h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- U6 L! k( P2 F! M. E/ t編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
" W, T+ B$ J6 B- ^4 C( ~( U2 p" q咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
% s7 C* S+ _- }7 ?  Y; Z- y因為以前未生產, 先消費
9 V0 Q5 Q% K7 z; ?而家就要多生產, 少消費
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