0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  I. i& g4 [" i5 ]4 XWhy bank will sell 借據給第三者???
9 B+ U* |7 p& g. x) GI was so confused.....

+ f2 x1 u. H* G" S1 E8 k9 E
, J  F1 d5 N5 p9 v# {講到尾都係賺錢
: o0 ]6 F6 x" I# H% m5 Hso銀行可以不斷放款2 D* ~+ M. |3 F* ?9 |
美國的房貸問題散佈到全世界1 s# G( B' r+ P& X9 a; ^
& E/ {9 J( j& h6 L4 d6 v7 c9 p
mortgage loan
; ~% Z# i5 }$ H7 H* P>conduit' t+ J' K% {  U! I1 }
>RMBS(Residential Mortgage Backed Securities)
5 V4 \9 r0 q3 o>arranger
1 X) T4 i+ T& J. {>CDO(Collateralized Debt Obligation)
3 s. Y9 X3 F0 @! P  \2 ^- E1 `最後去到投資者

Kev

i thought it is the reason of rate of return.  k/ N5 E2 d& l2 I! `# a
CDs could have different ratings, AAA -> F,
: b' a% j% C% g0 }more risky ones would have higher premium (interest rate) as a compensation for an investment.
% f' a5 s: {# z' p! L' `* qmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 e- t4 b/ [8 M  s  t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.& E- P( y. w( l
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( ^! q6 ^) n6 vsimilar to bonds, CDs trading in the secondary market have different value at different times,  Q& ~" x* i( F' A
normally the value is calculated by adding it's principle and interest.
0 z5 N2 v7 q; r/ N' ?* Aeg. the value of the mortgage+the interests to be recieved in the future.
- t: l; i: [* _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.
. r% [+ ?* @8 G' i& C: m/ z* Q& e1 C3 Z$ w
im not quite sure if the multiplier effect does really matter in this case./ F7 ^: t. c4 g4 S4 n/ E1 g' P% z: n
in stock market, it's the demand and supply pushing the price up/downwards.  }# A* A! k4 x5 H- H7 f. M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 U  M# a2 H& \8 V5 A: eA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
2 A% i# z/ h% f# C  M9 ]+ E0 CThe 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.
! t, U2 r. G* @+ ebut the value of their assets did really drop significantly.
5 `6 d) |6 ~: @+ V% Y6 T1 s, q8 j: K. g6 Q" B1 ^4 s1 V
[ 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
: i2 ?& f' X2 zRefer to last example,
/ ]' `* b7 V$ R9 a% N) \that means bank A have no money because we borrow 10 dollars from bank A   ~. _# w0 V: Y( P2 ~5 p# V
Because bank A doesnt have enough cash on hand
& D. W0 o$ Z8 Z$ ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

0 a) p7 h8 a  X7 ]
% Q8 S' ^7 G, j3 P7 Z& r  l) }! n
( k6 l5 o: {  HA->B->C->D->E
9 `2 D$ d2 v( G* }0 K3 \2 wso does it mean if E failed to pay D, 4 |! k  i( G& L
all the B,C,D,E have to go bankrupt?
3 T; d+ v2 U2 ]* I: x, J: U& g) s" a7 M! z( C
, f" t8 T9 E7 h$ o
the multiplier just tell how much money created in a whole economy, 3 r; U3 P6 ?, `9 [
in this case it doesnt really matter how much money is created, 1 \2 Y1 ^# Z' ~
it's the problem of the debt itself.. y  A4 x- w: y5 C& t7 b8 ^
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- i8 H6 C, n3 V; d$ R9 U0 \
小弟一直都唔明...2 O0 q( P2 b6 D+ b5 e2 v
: x2 b9 w: o3 t' y. R+ p
全世界都蝕錢，咁邊個賺緊錢呢?
* B- E3 u" y% e" h7 p2 m1 u/ O! i' R' ]6 b) F
無可能淨係有人蝕錢無人賺架嘛...
! D6 u) S8 u) g  S
( g7 w6 [7 S2 {9 r$ m: s/ t敬請各師兄解答
. A: k9 @, h3 B1 \$ |- @. I' \( x, K' K
Thanks

/ \) r8 R' `2 @  z& r
那些根本係 紙上財富  4 \7 t" R( `* a0 K6 ?  v
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 graphic5 o' b4 `$ d/ p* ]* X$ N% v
+ Z( a9 Z" o! x# Q) A
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 o7 y# F+ I4 l" H$ q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高* M2 `7 I& D% D  b- L) |
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
: j! Y, M+ R9 U4 U* }# n% q! q' w個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
1 x' r, x7 B$ [9 L5 z! ~% n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,! m& I0 V! v( H( e7 K5 c0 d% V
計番回報率就已經係50%,所以可以好好賺
5 k1 t+ w$ x: \1 d前提係銀行之間要互相信任先可以咁樣借法1 K5 Q+ C+ E' H" _3 r. p: [  v
同埋個市場既前境要係好先得  g/ j$ I. D2 ]8 k0 o' B
但當經濟一差,公司估值趺了,物價不升反趺- A, g5 j, Q8 y+ Z2 ^" v6 p" k
例如剛才說10蚊的, 趺到得番9蚊, : M+ {& l7 l6 X& M" m; n; u
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
  T) ^# F$ b  B所以你就會覺得D錢好似蒸發哂咁
. D; m# a$ Y- ^
6 K! Q$ ~; F* U1 \1 s# K5 W, G你都可以當標野咁諗, 個樣野多人可以狂升值,
0 k% d5 L+ @7 k) t  y; i% B" [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,
0 k4 k; ]+ y& z6 |0 [+ h0 q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 b+ ^/ D1 c5 q7 @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/ T2 |( i, G$ H
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
$ R9 q5 H! g3 J$ [- f$ ]2 e唔係d錢蒸發, 而係比美國佬洗晒未來錢,   d( T  N7 \+ F5 g' V- z' X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) [  U. E0 N/ N& e0 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
. g& R7 m# Q9 X- A& A咁你話d錢蒸發左去邊? ...

; }  k: G* h/ M5 j1 K- ]5 f
/ H/ l7 w7 c0 v% J3 W6 u正係咁樣5 V4 U7 S0 _) ~8 X: g
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
: Y- H6 m) s% b+ U' C" u, k3 @分分鐘佢地唔使還錢
% H: x" I, W% x  b: X
( J6 \$ `" V$ X; M) l3 ^, `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,# ?( N" I2 I1 p7 e
連國家都係問人借, 不停發債券, 印鈔票: c: z% c: {. ^3 t# _, R
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 A+ ~. |7 Q9 i8 Z# x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& e- `/ L% y; \% i7 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

* c, N) ?0 f7 I/ Q
  Z. e' H) B7 A: K' b其實係...
# Q3 }# B4 v3 U因為以前未生產, 先消費6 m! A- d4 [0 A
而家就要多生產, 少消費