0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
7 w. b& [) s8 J/ g! A0 C9 d" B8 \Why bank will sell 借據給第三者???
8 Z- k2 I% [8 L( m+ {) n7 DI was so confused.....

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講到尾都係賺錢
1 o* \: m9 |$ w6 ~so銀行可以不斷放款
% l& P# Z, o, p1 F8 V6 L美國的房貸問題散佈到全世界
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) X0 I: ?$ F8 j( t( V' A1 ?mortgage loan
7 A% Z* ]" n; L, @  \8 D3 l>conduit
+ F/ c  k6 [, f& U# G( _& ?>RMBS(Residential Mortgage Backed Securities)
7 r. P1 I( C; Q# S>arranger
+ I6 t* U' k9 W6 k  j>CDO(Collateralized Debt Obligation)
  R; \8 N2 P7 H9 I7 N$ z0 _最後去到投資者

Kev

i thought it is the reason of rate of return.
3 G5 Y* j0 p2 c" Z7 F8 k6 \  E% i+ _. RCDs could have different ratings, AAA -> F,
' u# U& G/ E3 U; J7 `' L6 V: tmore risky ones would have higher premium (interest rate) as a compensation for an investment.( ^; ?" z0 d( z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 k& F" W& `: ]/ Y; kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 N) f# h! b3 h( C( i; ]2 c7 f, `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ O9 ?  M; ^3 O2 Y& ]) M" V/ p; H
similar to bonds, CDs trading in the secondary market have different value at different times,
4 \. ?; X0 a4 A) _$ p* I9 U5 ]normally the value is calculated by adding it's principle and interest.
# a' o6 K5 ?( l$ jeg. the value of the mortgage+the interests to be recieved in the future. : d" I8 K& z$ e& \5 H0 |9 @* u
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.
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7 w2 \% L) {: P9 him not quite sure if the multiplier effect does really matter in this case.( z' B4 Q0 K) F8 z- P. `
in stock market, it's the demand and supply pushing the price up/downwards.3 w1 \* `: K  o$ O7 b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! a$ B" \) Q4 r, ~( r# lA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! O2 v1 h0 D3 J: D6 j, H: b
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.
5 ]2 \  p- k6 ?6 R8 E$ Y9 o+ pbut the value of their assets did really drop significantly.  v, p; \4 H1 }
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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
2 Z  e* Y# Q: l; Z/ Z; X, bRefer to last example,
/ x% q5 L, }: \that means bank A have no money because we borrow 10 dollars from bank A 5 q& P$ Z5 R3 a, I
Because bank A doesnt have enough cash on hand
7 n, Y4 E  B9 k! @; q  f, H% c1 |' ~therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 B. ?' \' [# d5 H4 S8 V1 G) iA->B->C->D->E4 A; r. e7 Z5 |& n& U9 q1 Y
so does it mean if E failed to pay D, 6 ?$ D$ E4 Y2 @* O
all the B,C,D,E have to go bankrupt?4 C5 |5 i: }( V4 U" b2 m" @: H

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the multiplier just tell how much money created in a whole economy,
( g; a! R! U% _% J, y2 _in this case it doesnt really matter how much money is created,
/ t+ r* g: S* K' [/ uit's the problem of the debt itself.
" o3 K" P* B7 hthe 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; I5 E# u( q" p0 Y: ^5 L
小弟一直都唔明...
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+ Q6 F$ t; _7 ?全世界都蝕錢，咁邊個賺緊錢呢?
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5 [8 Q0 B3 J1 \) e無可能淨係有人蝕錢無人賺架嘛...7 K2 I' ?8 s' _9 n( _

7 E) |: l/ r) ?3 A% a- k敬請各師兄解答
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( w, c' b* y7 U; rThanks

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那些根本係 紙上財富  
+ L5 J0 ?* N8 _  a# ^0 {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  D& U5 w' c+ E. O" P8 Z; Y" R
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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
/ [7 V: f& T' m, S, o當經濟好,投資銀行相信會賺錢, 物價既估值相對較高0 t% y7 d7 q, D8 Z* Y! ?
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
( O4 s% Y2 @0 w  [$ P個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
' S% I. ^( ?. A扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,7 p3 v7 Q" f! S6 p' R: @
計番回報率就已經係50%,所以可以好好賺
7 s; k: s6 L, B4 I前提係銀行之間要互相信任先可以咁樣借法7 A- o! s. p( c, k8 I9 v/ c
同埋個市場既前境要係好先得2 X" @( D! d# k! @( u
但當經濟一差,公司估值趺了,物價不升反趺
9 }' I& P) }3 Q2 X4 h$ J3 G, _例如剛才說10蚊的, 趺到得番9蚊, 8 K& J9 Q& s! F! X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
5 U2 q: a- Y, j所以你就會覺得D錢好似蒸發哂咁+ T6 s% F1 n; B+ i+ v
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你都可以當標野咁諗, 個樣野多人可以狂升值,
( ]0 s  [9 [  G( [+ x+ Q* U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, 6 E+ d: J& X* F$ N6 {: e. O
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 E1 x+ D' T' Z6 C4 s/ x7 a! `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7 d  k5 g4 A+ z) A; 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
# X) H9 k" Y. ]& [唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 r. W% Z- ~& a* E7 @3 F淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % I' c% }: R( ~3 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
1 C- Q  O& y% K6 E咁你話d錢蒸發左去邊? ...

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正係咁樣  O8 Y4 G( H! E; d' k8 ?6 z
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, L  i) u' ^( @9 T' I' Y
分分鐘佢地唔使還錢6 N) w/ R  D! ~4 C7 d. O

; ]. X9 Y+ i4 B# ^  y4 I! H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,1 O6 z# X( F9 k9 u1 c5 P7 m
連國家都係問人借, 不停發債券, 印鈔票9 e# R5 n3 B7 G5 c9 g" A- r
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' H% p* l" O; L* \( y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) m( T+ n; s  ?7 p, J4 c7 [
咁而家"爆哂煲"算唔算先至係變番"正常"???

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$ y6 S) z% e$ P# D其實係...# U. ]9 i5 n6 h* Y
因為以前未生產, 先消費3 ?0 c7 d. }: B& Y7 Q
而家就要多生產, 少消費