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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif" x# S6 ~3 k: s5 |4 P% l/ g
Why bank will sell 借據給第三者???
9 r- v  V% _8 Y+ bI was so confused.....
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講到尾都係賺錢
7 y, d, U$ }( n  }/ ]so銀行可以不斷放款
: I5 w- Y/ O- B. t& @3 D' O2 H3 i3 u9 x美國的房貸問題散佈到全世界
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mortgage loan
4 a- w; f6 u6 X- n0 m% e>conduit3 o' {. ^: e& p! o* ?5 @
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)+ P) a+ q. t; S* K/ \7 h
最後去到投資者
i thought it is the reason of rate of return.
* _4 C' S2 q2 q- }" ECDs could have different ratings, AAA -> F,/ U$ A" u) J3 |" U
more risky ones would have higher premium (interest rate) as a compensation for an investment.: |$ B) b, l4 F5 Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,* ~3 \7 q' m  Y2 P5 G! s
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% ?2 f- P, o# `4 H. L+ `2 SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 R# s( Z& t; x$ j: _# H0 V1 [
similar to bonds, CDs trading in the secondary market have different value at different times,
$ c# [0 Q& [+ b! q0 p; Ynormally the value is calculated by adding it's principle and interest. * ?4 I' e! z: O6 d" }, E8 r
eg. the value of the mortgage+the interests to be recieved in the future.
2 N: c( o3 T- J2 `5 Qbanks 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.
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& H/ ~! w5 O1 W3 |* y- X$ S' kim not quite sure if the multiplier effect does really matter in this case.
. V" t. x7 D# v% X! ~in stock market, it's the demand and supply pushing the price up/downwards.4 \: ?: |+ A" P! ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; p7 p+ b2 E! [) B: [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: T6 h2 O$ k. c) e+ @5 y& i
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. . B2 @* |9 w' C& S% l6 l' S
but 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 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 w  x1 q8 g, a& M- g, B" S, O
Refer to last example,7 b# k3 `% n4 ?# c
that means bank A have no money because we borrow 10 dollars from bank A
$ K5 a# e" C2 Q2 tBecause bank A doesnt have enough cash on hand
5 {$ f8 |: [! i& J0 `, ]therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E
: f' ?: _! x- u' j* Cso does it mean if E failed to pay D,
. @! M/ ]5 Y; o6 Z. E) V2 Pall the B,C,D,E have to go bankrupt?
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/ e- K$ E6 T8 i6 O1 |5 g& b- Lthe multiplier just tell how much money created in a whole economy, & M% ]5 |7 i/ h' ?$ x. {
in this case it doesnt really matter how much money is created,
7 u8 q6 c3 x" q8 s1 P; f- \' Cit's the problem of the debt itself.
5 o% O  p/ u7 e. Z. bthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif6 K; ]9 _5 s8 B" v/ E8 [
小弟一直都唔明...0 Y* _( a8 k' a  e$ v% E
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全世界都蝕錢,咁邊個賺緊錢呢?6 L/ r4 x7 i8 Z$ n

7 b- o& |* J! x; L+ X( W' |! N無可能淨係有人蝕錢無人賺架嘛...
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- y0 T: Z& r$ q3 {$ m. [$ |敬請各師兄解答
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8 C: O. Y9 P6 B' \# g* D" sThanks
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那些根本係 紙上財富  / d6 Y3 s* g6 j( W: D" p
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
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
其實個D錢係你可以當係虛擬資產' ]; @# i! ^7 e* @5 {" N) Y/ q' v
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; P+ f  d" Y# s' B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. Y; y( L9 Z$ K- M/ X$ |9 M
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
  E" D  _6 {, e& e: k4 P扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  R# x( e0 k( [計番回報率就已經係50%,所以可以好好賺
) |9 B  Z' m' B9 `$ `! |前提係銀行之間要互相信任先可以咁樣借法' V3 ~6 Q5 ^$ D" ]9 o
同埋個市場既前境要係好先得; c4 T' U* \! W$ S2 D
但當經濟一差,公司估值趺了,物價不升反趺
& ]0 J0 T5 H% h4 s% [例如剛才說10蚊的, 趺到得番9蚊,
, V% Q5 X: |! g- C$ H% Y* d咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' K' @$ \8 [- z) A: i$ o
所以你就會覺得D錢好似蒸發哂咁/ p$ [: y% j! g6 l" v5 v9 b6 m
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你都可以當標野咁諗, 個樣野多人可以狂升值,
( `( c; e) G7 O& g4 a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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, , I( v6 r6 A7 t  {  D
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, $ i" i2 m* G0 h+ 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4 R7 ?; f( Y/ C6 ^
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 K$ a- X5 |4 i9 g! j# I唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ G4 ^$ ^! W9 n淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" u% d3 v# H; P" ]) Q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
$ \/ j7 n5 _! y  l# T咁你話d錢蒸發左去邊? ...
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正係咁樣- F; P" m" I; x" G! A
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: f- P* ?/ Q* M* g- G
分分鐘佢地唔使還錢6 n; ?' v0 y- }; K/ W
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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,
5 F! ~$ u& Y0 T; Q* ~! x6 h連國家都係問人借, 不停發債券, 印鈔票
1 d7 k" o8 j- @6 T" h& \2 x1 t( q一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
9 f! f) Q( i* U, N( C5 Y編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif" ?* X: ?+ ^7 z: Z
咁而家"爆哂煲"算唔算先至係變番"正常"???
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. ^3 h* a; Q7 g2 o8 D其實係...7 k7 |' e  v) R' F+ L, ~
因為以前未生產, 先消費
2 K0 l+ P. h0 a, [( [* W而家就要多生產, 少消費
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