0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 I1 v2 h( J0 e- gWhy bank will sell 借據給第三者???1 g( u/ Z' C0 [% _, m
I was so confused.....

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9 ?2 N& I0 w( n7 v講到尾都係賺錢
& U: u; H0 q1 v+ yso銀行可以不斷放款# X4 @& c# v3 D/ W
美國的房貸問題散佈到全世界( p! q3 F! s. ~7 G; O4 J& }* r

! S; M7 _4 [- v# ]mortgage loan 3 }% l* W' A& ~) J7 O3 ^/ f/ `
>conduit) l5 G, \* f4 o) Z: c0 g
>RMBS(Residential Mortgage Backed Securities)
& s, B+ N6 L: s) x" @>arranger! W7 H* ~* m  n' t. b; p
>CDO(Collateralized Debt Obligation)
" T: g) k9 }# g, P! X4 C, p: h最後去到投資者

Kev

i thought it is the reason of rate of return.9 [" l* g5 M" {/ j0 }
CDs could have different ratings, AAA -> F,
* A, S* q% |: ]2 C/ \, Dmore risky ones would have higher premium (interest rate) as a compensation for an investment.( O- g' o; s) X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 \! R% G, |8 B) ^5 ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, t5 @3 x: g4 s) X# {7 S" U" l4 g6 PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 l* O0 z2 h. k+ P6 h( `
similar to bonds, CDs trading in the secondary market have different value at different times,- M3 y8 m/ ]* o. M. z/ t. ?
normally the value is calculated by adding it's principle and interest. 4 o8 i2 |# C: A' s: ^9 F
eg. the value of the mortgage+the interests to be recieved in the future.
4 m1 \2 r% @/ L( Pbanks 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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im not quite sure if the multiplier effect does really matter in this case.) T9 d0 g* M. i$ p1 f  F
in stock market, it's the demand and supply pushing the price up/downwards.
5 U4 `' W, D0 j* Z+ QFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* o  @( Y. |# S+ b* _1 L
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; d1 O1 M0 d- g* 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.
' H0 P1 z2 o& J5 ibut the value of their assets did really drop significantly.9 i6 R7 y' n* T7 f& f

3 q& c5 R5 |; O6 S* D; o4 w[ 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
' c* f  |2 C- RRefer to last example,0 t4 T6 d) a" `2 e
that means bank A have no money because we borrow 10 dollars from bank A . @5 {/ ^* w% |- O6 ?
Because bank A doesnt have enough cash on hand
7 r* O, j+ _/ {0 Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E. J0 n" T4 ?2 [3 }3 m
so does it mean if E failed to pay D,
5 R! [1 t1 {" k  L- Pall the B,C,D,E have to go bankrupt?( u8 M0 E2 a3 p3 v* K
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the multiplier just tell how much money created in a whole economy,
3 w5 C! u2 J, }% m  Uin this case it doesnt really matter how much money is created, ; X& Q( ?  s/ [( h. z+ _0 k
it's the problem of the debt itself.% t- P3 k/ O2 J$ [
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.gif6 m/ l5 F' E+ F9 ]3 m9 C. C( g
小弟一直都唔明...8 u2 G5 l$ R- m+ Z
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全世界都蝕錢，咁邊個賺緊錢呢?' E5 B( [& r+ u1 ?1 d3 p* |( ~

4 \: N' z; A% @  t無可能淨係有人蝕錢無人賺架嘛...5 h$ e: n, V5 n; k
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敬請各師兄解答
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1 L6 n5 [5 K7 _0 A$ jThanks

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那些根本係 紙上財富  
) s' V; D* L7 r9 b8 e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 graphic1 L$ T+ m+ m  k5 M

) n1 X3 Z9 x* x& hhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
) _5 k% w$ E* H% i: f+ g  q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 u2 I4 Z) g  O" o7 g0 i
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
7 Q+ r. ?8 [( [. A) F3 h" f; C個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& e- J! f5 ]4 {$ D扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,; r% K5 N0 m* B6 }- M. j6 Y2 b1 c2 F
計番回報率就已經係50%,所以可以好好賺
, u5 r' N% a8 R4 e前提係銀行之間要互相信任先可以咁樣借法8 W9 q$ ]* T  y( B+ i& U
同埋個市場既前境要係好先得. m/ e! E7 @. f8 h# @# x
但當經濟一差,公司估值趺了,物價不升反趺/ T4 ^3 d7 |9 N! K8 |% Q
例如剛才說10蚊的, 趺到得番9蚊,
) U8 K' B) t; }咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
! k2 `: ~$ R' i, u% E* J9 p$ F- W所以你就會覺得D錢好似蒸發哂咁) d+ c, z' p% q- P. e  w8 i' X

+ z2 Y6 \! m0 L: ]1 I你都可以當標野咁諗, 個樣野多人可以狂升值,
( P& X4 p( y. S( w3 Q1 @- i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- h! v1 }+ g- ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, : g* ?5 ~. J; E. W! k& [
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
8 }$ w0 U" j# i! t) k4 v  M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
, \1 [) R5 J2 b' _. J: Z% N, s唔係d錢蒸發, 而係比美國佬洗晒未來錢, / r1 G( p5 Y- R+ S* i/ D: B
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
0 }( ]7 L# v( T, F8 z; E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! @9 Y; t7 G- N! J
咁你話d錢蒸發左去邊? ...

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正係咁樣" I& n3 C7 ~3 u2 [3 \7 K! u3 `
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8 g7 C) O, `" b* v9 b2 Y
分分鐘佢地唔使還錢2 n+ o, n* m' J/ y: H

" C; n8 w% K& H4 u$ B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,' q, l0 D6 b; s8 q
連國家都係問人借, 不停發債券, 印鈔票
, ]3 d" }0 D( y2 j/ m/ O/ G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產/ h/ b" b9 w5 m) }2 d
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) O+ t2 \% m5 I2 f1 _
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 W6 L% Z0 \! Z
因為以前未生產, 先消費
# z" Z6 {8 M- ?' n& C' I而家就要多生產, 少消費