0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
1 z3 B: i  k3 x& @% |3 g+ O, W% CWhy bank will sell 借據給第三者???- t: D* _9 ~6 E1 m
I was so confused.....

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! }1 `% _; e2 \; G講到尾都係賺錢
, x* ~! o: ?4 w9 ^so銀行可以不斷放款
/ ~2 Y0 h- f+ U7 N0 g美國的房貸問題散佈到全世界
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5 W% y+ @& }, ?# `% y) kmortgage loan
% C8 L4 p2 ^8 s4 ]  O) f. w>conduit6 K0 V* w; u* Y5 O* o
>RMBS(Residential Mortgage Backed Securities)
! ^6 c" K2 i/ Z/ s5 s" u>arranger
6 \5 g) S# T" B) q. d# u>CDO(Collateralized Debt Obligation)
0 S% a* g& q1 u  ]最後去到投資者

Kev

i thought it is the reason of rate of return.
2 i% F4 j! h- r' }* `$ bCDs could have different ratings, AAA -> F,
* e3 L0 L' v+ d  G( o9 d; y  K2 g* @1 imore risky ones would have higher premium (interest rate) as a compensation for an investment.1 A  }/ Y! U' S) i- o; }. L6 {& k
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 R( L- W4 A5 H: pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 q" u+ a2 H  r2 [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) W) N* q& |* Z
similar to bonds, CDs trading in the secondary market have different value at different times,
( C3 I, \- I- `3 g7 snormally the value is calculated by adding it's principle and interest.
( F9 D9 @% N- q$ L5 Geg. the value of the mortgage+the interests to be recieved in the future. 9 A2 _- k9 C) q# ?% D2 j
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.3 x2 T4 l0 a& m
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im not quite sure if the multiplier effect does really matter in this case.3 C% y3 s! U2 y7 `
in stock market, it's the demand and supply pushing the price up/downwards.& |/ ^4 a4 h2 e) _4 ]' _- W- A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,! X+ Y/ }7 M0 E
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 s, Y9 R9 D( x3 f# `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. % }- U* m0 X2 k, Q
but the value of their assets did really drop significantly.
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) B  m4 U4 ?9 ?  H8 \: x0 @[ 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
, W. g0 S. q+ V+ P8 tRefer to last example,
& W6 A+ p- I+ A% p* V/ N# {that means bank A have no money because we borrow 10 dollars from bank A
7 k) g$ E/ I5 aBecause bank A doesnt have enough cash on hand
; Q& p+ k* @& u+ K: ntherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
" `% e7 R5 \  |. eso does it mean if E failed to pay D,
# U; p0 x. T' y" T; l, W( _5 Z, pall the B,C,D,E have to go bankrupt?2 _! {  u6 B( L7 U/ R. o& V
0 D9 \) r2 e" }3 W3 p

' `! L. P+ y" t2 d7 g& `! U- n2 d: b2 ythe multiplier just tell how much money created in a whole economy,
& d6 Q/ f1 h( U, u( Y3 q1 jin this case it doesnt really matter how much money is created,
. e8 Q. U% ~8 T# r4 Z! nit's the problem of the debt itself.3 Y- b8 e4 M/ b: J0 x
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
9 u- C, O! }2 V! P( w小弟一直都唔明..., O- w8 w8 k3 l& I+ v/ O7 z
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全世界都蝕錢，咁邊個賺緊錢呢?
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4 w" P3 \5 ?6 B$ ?) ?無可能淨係有人蝕錢無人賺架嘛...
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9 f7 A( H6 L8 J& {敬請各師兄解答
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# _; u# {! ~1 EThanks

, \8 o$ e) q/ l4 j那些根本係 紙上財富  
7 l% Q8 Z$ k# a- M! 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; c# ~7 K8 t7 H% t+ F: D

' d2 R! z. u+ _% K) g$ q' Y9 Bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
. S- P. k1 s+ e2 A5 N: L" |3 {當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
+ J8 `2 Y7 [: ~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
! ]( A5 ~% Y5 c0 X1 P/ N+ G) A個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
5 _" {, c& v  O8 I# J1 I# `( F扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 j! R+ ~7 a7 h. l- Q, n9 H
計番回報率就已經係50%,所以可以好好賺. W: C( R& n) N9 t, ~7 G' G) o7 k  E) A
前提係銀行之間要互相信任先可以咁樣借法
* C! b, f# }) P3 U2 L. @2 Z- x同埋個市場既前境要係好先得. K) L+ c( _; r
但當經濟一差,公司估值趺了,物價不升反趺
0 w; o$ B( y' J& w- }例如剛才說10蚊的, 趺到得番9蚊,
% W3 Y4 c/ S& J* d( m9 V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
4 L* `( S4 i$ {+ U7 R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, . I: R7 C1 ]2 j
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, ' t- F- q3 @3 J9 a, M
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
2 @5 T/ G; [: g& O8 R2 X* |/ x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
; s6 w/ v: V* H0 Q6 b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
' d1 K2 S6 N% }1 _% v2 l唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% B$ k5 t$ B/ Q- E! T+ ]2 p" G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  c& u5 k: s) [% x' V; w, 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
, I  B- d4 |% `9 A/ i咁你話d錢蒸發左去邊? ...

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正係咁樣
& W& r! S2 {/ X% k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
4 O" _' H! X4 V5 [6 c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,/ y  v9 w, Z! r( A) I
連國家都係問人借, 不停發債券, 印鈔票
  @' _  u7 s* A) J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: _8 r( M# [, K! U* Z* j6 l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
. r4 w9 {0 U' m4 c- k咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...3 V" [6 J  p/ f3 t* M+ M) w
因為以前未生產, 先消費  R0 N. V& I$ w
而家就要多生產, 少消費