0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 y# Y* m- L1 Y& F4 h2 k' _0 TWhy bank will sell 借據給第三者???5 P+ T) D% u& u. T3 d( ^1 H
I was so confused.....

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講到尾都係賺錢* s/ ]( R1 }! z; w2 a) f: N; M+ \
so銀行可以不斷放款8 `/ c7 ~2 O. \& t; E  y' d" z
美國的房貸問題散佈到全世界! u! Q* B1 K; \$ V0 ~) c5 S
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mortgage loan
7 a6 d8 @1 i( Z+ ^3 T1 W  P+ v>conduit5 D- p) t+ B2 f, z
>RMBS(Residential Mortgage Backed Securities)6 s4 @, R9 ~7 I" d, s
>arranger
% l# Q' P/ o; Y2 N/ |>CDO(Collateralized Debt Obligation)7 t6 t6 r1 _% n2 ?2 `% }" X0 D
最後去到投資者

Kev

i thought it is the reason of rate of return.( c% `) _5 B* ~( m
CDs could have different ratings, AAA -> F,
+ x! Z+ G3 z, H& f& Dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
  ]& Z6 ?5 |8 H3 |. Y  ]' tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 G/ _6 q" m% `: B/ Tin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) u) _2 h  Y3 Y! @( QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 s7 B! \; ], J3 nsimilar to bonds, CDs trading in the secondary market have different value at different times,; Z1 \7 X7 |( P6 P: m, p
normally the value is calculated by adding it's principle and interest.
; Q5 D; |+ a2 f2 V& S- n3 aeg. the value of the mortgage+the interests to be recieved in the future.
/ N2 N, E7 h8 H+ Y$ g, M- b, Kbanks 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.# m! C' P$ v$ U; v; j* [
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im not quite sure if the multiplier effect does really matter in this case.1 w0 P/ N) A+ k5 z3 g, e
in stock market, it's the demand and supply pushing the price up/downwards., ~( Z8 r: o/ }! z2 R1 Q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 c2 \5 @  F7 Z3 Z5 o* `
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ g, A7 W0 Z9 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. / h4 V* J$ K% m/ x7 P# [! S
but the value of their assets did really drop significantly.5 h/ t8 |- O; w' D
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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
8 I. g) y6 `! eRefer to last example,
4 n9 I7 n- Y4 s6 u% k( Z) qthat means bank A have no money because we borrow 10 dollars from bank A 6 i3 o1 w3 L5 N) M7 f' Z
Because bank A doesnt have enough cash on hand & C  ^) L4 }# s0 S" u  B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
' i$ R4 O) _$ e+ J0 N6 ^9 uso does it mean if E failed to pay D,
- F  ~5 P$ z; N. d" Kall the B,C,D,E have to go bankrupt?4 r: x! Q8 f; i
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* o5 ]- O7 r1 R6 s1 Rthe multiplier just tell how much money created in a whole economy, 7 t! i, u. g" ?: C$ {* v
in this case it doesnt really matter how much money is created, ( @% k4 C, c; p
it's the problem of the debt itself.% e* d  L; k1 t) C4 S+ _3 z
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
" C8 _! H3 B* T4 O小弟一直都唔明...5 }& i4 k) T! l; Y- Q

  y% J, b* \6 u) J3 z全世界都蝕錢，咁邊個賺緊錢呢?- n5 E) ]) Y7 R5 R5 J
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無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答5 Z  |' X$ T7 W9 I' J" R& |0 z

5 w, ^: j/ `, f. C" f" e) N2 i4 l) qThanks

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那些根本係 紙上財富  4 @1 w  C/ G* }3 h* K2 }
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
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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
# Y2 k( B8 \# |; H+ K當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 s- C- c6 ^. l+ s, R4 p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( {) S! g/ A3 F2 f  q$ ^
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 S6 P9 z: o+ g& p扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' I: A4 ?% X& y; P- q% Z
計番回報率就已經係50%,所以可以好好賺
+ m( @; V0 v' c1 E  z1 V9 U. R4 ?前提係銀行之間要互相信任先可以咁樣借法, k1 S, d$ v% e4 A4 S( O/ t
同埋個市場既前境要係好先得9 d/ P3 V5 S! E) I$ e
但當經濟一差,公司估值趺了,物價不升反趺. r1 i8 ~& l& {4 x
例如剛才說10蚊的, 趺到得番9蚊,
. D3 q/ V* t9 u7 j. i5 J" {) v3 U咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# g& [1 d+ L! }" H: ], ]( I
所以你就會覺得D錢好似蒸發哂咁
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2 v* n# ~8 m- E" t$ C$ Z# ]. p你都可以當標野咁諗, 個樣野多人可以狂升值, 1 D) v* m" T" [6 \3 _
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, ' T8 l: n. e8 n! h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  ~( ~$ G9 R3 K) X7 i$ 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. w8 a" \" o- d7 b+ k/ T& S& D4 q$ z9 s
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
/ N1 d7 M' f" X唔係d錢蒸發, 而係比美國佬洗晒未來錢,
7 b0 {3 I& _; {7 G3 J* w淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % |1 T6 W6 f1 K% f7 [% 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6 m) b2 s: B' Y& ^& r1 E2 U
咁你話d錢蒸發左去邊? ...

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正係咁樣
3 r9 p2 B( s  R& R; T- l: 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
( v( {1 \; `2 _5 E; X. `6 j分分鐘佢地唔使還錢
' u+ ^3 x1 ~1 y5 Y; ~! L. G; z' q- O& j2 N+ J  U2 W2 V% @
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,
7 K$ W7 Z) E8 _# b連國家都係問人借, 不停發債券, 印鈔票
/ S% h) ^8 z  l& c' Q! J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
- F9 V! a! ?& N. i4 t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
/ D# }4 m% b! m咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
  b( {1 c7 I& C2 b+ i因為以前未生產, 先消費
. b% e8 K5 \$ L. O* P$ t而家就要多生產, 少消費