0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif* O) E0 o! r+ j7 W, g/ T8 @+ b% n, E
Why bank will sell 借據給第三者???
; ?% Q, `& a' g/ l7 _2 @' J; {I was so confused.....

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講到尾都係賺錢) r! i9 k4 {. F0 [
so銀行可以不斷放款
% t' |( Y. Q4 @0 L0 P* s" N美國的房貸問題散佈到全世界
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mortgage loan
  n7 a- l4 x% e+ b>conduit
! w! f! }- Q4 b; j5 D. z>RMBS(Residential Mortgage Backed Securities)% x5 ]2 L- H2 W* ^/ A  y9 Y2 m
>arranger+ o7 T2 @2 E; k. p
>CDO(Collateralized Debt Obligation)7 Y4 M, j5 b( H- T% @6 ^- I6 [
最後去到投資者

Kev

i thought it is the reason of rate of return.! ~3 s; ~  x) X& w
CDs could have different ratings, AAA -> F,+ @7 N9 N# k1 r1 q' |- E. _7 {& j! ~
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 G# o: Y2 ?2 D6 ~/ p: O2 u. D( d' emain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ n, z0 j4 B! Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- n3 R! i- R$ W: A* z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, E8 _0 {$ Z3 esimilar to bonds, CDs trading in the secondary market have different value at different times,$ I. @2 K+ c4 K4 M% @2 `
normally the value is calculated by adding it's principle and interest.
( e( V# a. V5 |eg. the value of the mortgage+the interests to be recieved in the future.
# P! K, ?$ G4 vbanks 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.* P1 h# w: M& P' t0 L4 w& L, [
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im not quite sure if the multiplier effect does really matter in this case.
2 B  l9 {0 ]: O  d" b- fin stock market, it's the demand and supply pushing the price up/downwards.6 A! S4 u. u3 J' R/ L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  U7 c4 a3 k7 r1 R% T, x, h' _3 ~A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 d% d0 o3 v; C) D- `4 LThe 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.
/ I5 I$ d5 e$ m* Z* e9 abut the value of their assets did really drop significantly.
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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
) O5 N9 e; _2 \( Q9 E1 mRefer to last example,
6 B  I/ |+ F  j5 o7 M; P& ^7 Gthat means bank A have no money because we borrow 10 dollars from bank A 0 d8 d5 r* d* O( c& A
Because bank A doesnt have enough cash on hand
5 |- M& v7 }/ X1 |6 m$ s  C1 qtherefore bank A need to be bankrrupt ??? Am I right ?? ...

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! \2 V5 d0 J1 a* I0 ?  SA->B->C->D->E! s" T4 X1 f' F" ^
so does it mean if E failed to pay D,
: q7 v3 Q) [/ I7 tall the B,C,D,E have to go bankrupt?; O1 t/ _4 S  r# t

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the multiplier just tell how much money created in a whole economy,
$ g; I* `: _9 r% H, C5 _in this case it doesnt really matter how much money is created,
0 z3 k8 L# `* |* |# Yit's the problem of the debt itself.
2 O* a% a; L7 e. ?, |. Ithe 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.gif0 s& T3 A' M; r# m1 B
小弟一直都唔明...
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5 Q. I! b( P# H  Q全世界都蝕錢，咁邊個賺緊錢呢?6 q' i8 _, C6 r& |

7 p: z5 u' }' J4 Z無可能淨係有人蝕錢無人賺架嘛...1 {' G$ d. B/ E5 B" `5 h
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敬請各師兄解答
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1 l5 d9 G+ v# e  C& J8 y0 FThanks

5 J3 S1 x/ ^, ~" k4 v4 u那些根本係 紙上財富  5 E4 D4 l' n/ _' d
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" G8 V0 m6 P: r+ A
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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
& p! u0 d5 W" d3 t0 V! X! E" Z當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
( ^( _% j' W% w" q" a9 |+ g( ]9 @# g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
+ L" t0 D  W& D2 Y2 \, j/ b/ l. ]" u. b個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% i) [+ |: w- p/ q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,5 N. m  @5 B6 w9 y; J8 n& k
計番回報率就已經係50%,所以可以好好賺* D+ Y: _4 s8 L5 P" L/ m
前提係銀行之間要互相信任先可以咁樣借法3 ]) s7 W7 N7 b3 q: x
同埋個市場既前境要係好先得- w0 c, c0 g+ b" T
但當經濟一差,公司估值趺了,物價不升反趺
/ H' _, X! B- E  ~例如剛才說10蚊的, 趺到得番9蚊,
4 R) p+ J* k' Y/ b+ o1 v咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
( g# p7 x6 W) K/ r& L5 U, o所以你就會覺得D錢好似蒸發哂咁% }' [7 q9 s' F7 |) ]1 c

' P4 Z& Z4 ^; h: W# ^你都可以當標野咁諗, 個樣野多人可以狂升值, ) t( m( @! T( W' B2 C
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,
5 W. c* n$ k' Q' q: o+ f淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 E, V: k$ H& e& L4 `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0 s; E  v9 o; F
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
+ q1 ^% b9 W$ b) o: u唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! _& b  I( b9 U+ b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & M+ l  u) s& o! Y5 N7 Q* z+ 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
4 G4 f: v- w% t3 E* i  Q" C4 S咁你話d錢蒸發左去邊? ...

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9 C5 [' Q& V! p正係咁樣
4 N/ v+ y6 a8 w* Q  ^, U1 U2 I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
2 r$ r* {9 N( k! Q: h分分鐘佢地唔使還錢
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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,
( |, X" \# B' N5 }, G- b連國家都係問人借, 不停發債券, 印鈔票9 t: n. h/ G! |% B  M- J
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
2 }) |' J% @7 L7 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
+ B7 i% S% T: G. M9 e咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
- k" H: y/ z) Q% O- N因為以前未生產, 先消費  r0 ?" W% j) r7 Q$ p  o1 f
而家就要多生產, 少消費