0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ D: l3 P3 {& K6 G1 dWhy bank will sell 借據給第三者???
$ b0 m4 H  c9 \0 M! o# zI was so confused.....

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講到尾都係賺錢
' b3 C* a: f& q: ^) p  Aso銀行可以不斷放款
: \" _2 [4 G8 p美國的房貸問題散佈到全世界: `, v% O& y- n6 d8 @$ D; p/ k9 r+ M& g

9 R5 t, [6 j( j1 X# r3 T/ }( N0 Jmortgage loan
6 ^% B/ ]9 R3 F: O6 Y+ k>conduit3 l7 w8 }! p5 ]6 g. ^- {
>RMBS(Residential Mortgage Backed Securities)& ]! l! Y$ F3 a- o/ a- M+ n7 L
>arranger$ [, ^* p+ |% a$ J
>CDO(Collateralized Debt Obligation)
5 G+ O0 H5 j( _2 _" Y$ ^最後去到投資者

Kev

i thought it is the reason of rate of return.
# y' K! S( O1 `6 tCDs could have different ratings, AAA -> F,
! F, c% l% y9 E3 Q7 o. X5 N* qmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ G3 a6 r! f$ O. ~+ n( N" Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
5 X4 F8 c' p8 k( B$ L9 c" _1 {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ d8 y7 s4 V  o
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( G2 Q2 v7 H/ w% V! [5 u  rsimilar to bonds, CDs trading in the secondary market have different value at different times,
3 O; [5 H9 q% Tnormally the value is calculated by adding it's principle and interest.
* f) D( N: F$ O6 @1 B" \eg. the value of the mortgage+the interests to be recieved in the future.
6 I2 O+ x3 ~0 p" \1 zbanks 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.: A$ P' d0 u: U9 [/ I7 o. b: c8 u6 A: p

5 S! k0 `, g# @6 i! gim not quite sure if the multiplier effect does really matter in this case.8 T4 K8 a9 T* o, N
in stock market, it's the demand and supply pushing the price up/downwards.1 N& v/ D" R( ]5 b8 F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,  ~' e" Z; W+ k2 A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 S" O' a6 O+ P9 o1 c
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. . C% t( d$ A+ F7 `( l* l
but the value of their assets did really drop significantly.4 B9 g) d2 a& |4 A
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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
4 P' s9 J/ n/ c1 |Refer to last example,! z1 p& C1 J  E3 k" B
that means bank A have no money because we borrow 10 dollars from bank A
1 x, o8 s' ~0 `* A# YBecause bank A doesnt have enough cash on hand + i5 [  M; t& T  L- k+ B! n
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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/ f0 y. M* i$ o% z* ^) BA->B->C->D->E
7 z1 E" l* y5 Sso does it mean if E failed to pay D, 1 o% z; B; x9 J4 Z+ ?) [; i5 N
all the B,C,D,E have to go bankrupt?
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5 B% Z  O0 j  hthe multiplier just tell how much money created in a whole economy, ' {! q7 Y- D% d  p- V* @
in this case it doesnt really matter how much money is created,
  V/ [4 H/ [+ C, Uit's the problem of the debt itself.
, n/ i" B" P( }6 G7 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% u8 d/ h1 y( g' G2 x
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?1 x8 |1 y) m" E7 Q0 [0 K
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無可能淨係有人蝕錢無人賺架嘛...
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3 b/ c" U: E" M$ W% F: b7 t! e! r敬請各師兄解答: x, a# Z; R0 d' X6 q; b, v  _
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Thanks

7 }+ M5 `6 T  y! D& ]那些根本係 紙上財富  6 N9 j0 |5 k, h2 H' z9 u( 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

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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' H0 {6 H8 k/ M/ ]" F6 q/ chttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產* \. v1 [# h; X3 w3 c: x9 p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& O) g5 H9 O% u
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$ H1 U% \/ g4 \( O- O
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
- {) u5 |6 s; Z# n3 P/ ~扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. ^4 e4 u9 S" |$ n. y0 b; ]
計番回報率就已經係50%,所以可以好好賺
4 p: W8 ~3 c; c前提係銀行之間要互相信任先可以咁樣借法, A2 \; M2 ~3 ~. a" P
同埋個市場既前境要係好先得! ~. k6 A6 _; X9 j
但當經濟一差,公司估值趺了,物價不升反趺
) J8 }/ p7 ~* a9 |例如剛才說10蚊的, 趺到得番9蚊,
, w4 }/ f' v% f" [9 j0 `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ |* S% P- i1 a3 @( e0 d( w8 J# F所以你就會覺得D錢好似蒸發哂咁2 _7 k6 q- l0 i: O

1 O3 J6 P( C+ p你都可以當標野咁諗, 個樣野多人可以狂升值, + }' q5 \* |+ ?$ d( 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,
- a+ ^4 i4 ^! g2 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 P9 q. h* l% K$ l8 v
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 a) m9 ]# v  f* T9 x3 l" `9 X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* }! U% {" y( g6 S. W( @2 F  E
唔係d錢蒸發, 而係比美國佬洗晒未來錢, / U8 s+ r9 L! Y' Y1 r3 b' `
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 s* |7 d8 H) u" Z/ _
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
1 u) E" M: q- [; U% d( R2 @  v. V$ s咁你話d錢蒸發左去邊? ...

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正係咁樣2 @" q7 D2 u/ V1 P+ s/ ^  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. T; D% X5 p! L' j5 t3 D6 e
分分鐘佢地唔使還錢* L  W) u5 [; {  I2 ^

. J+ L3 X2 G& v/ ^' P# o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,8 j3 f0 ?$ S/ y; w9 y( Q3 G
連國家都係問人借, 不停發債券, 印鈔票
$ z" f1 }, J4 J& r: ?一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' ^9 t) p2 ]; Z. i, t4 r' J3 l3 O3 s
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.gif5 F/ Z4 S$ t% A# l# g5 Z
咁而家"爆哂煲"算唔算先至係變番"正常"???

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  i* E) D# |- y$ L; ^其實係...
/ p9 p( |8 e6 o因為以前未生產, 先消費' M. x8 K8 [/ |5 P: T
而家就要多生產, 少消費