0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
/ ]* f0 n! Q! w9 @, L0 B0 {# XWhy bank will sell 借據給第三者???/ [, k% T; G1 ^
I was so confused.....

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% f; I, F5 ?# m# d$ ~" `講到尾都係賺錢1 z4 z8 s, ]: O9 t
so銀行可以不斷放款
- v% }; S9 u* [美國的房貸問題散佈到全世界
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mortgage loan
6 @8 R9 j5 i% m  ?' }" H>conduit' R7 Z9 M* e2 P% h1 C
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)7 h, x9 ~# o8 G6 l, D, J8 M
最後去到投資者

Kev

i thought it is the reason of rate of return.5 R* q" Q. \+ G# }2 r' N, o
CDs could have different ratings, AAA -> F,
. U- ~5 F  b! X4 x. W, Pmore risky ones would have higher premium (interest rate) as a compensation for an investment.  a/ A2 H9 \6 p4 h9 l$ V  A8 g8 _( I/ q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,  A# d4 J6 Y3 H/ l9 A$ o
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. ]# R8 Y& `0 I1 T! {( N- u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 i% n' X4 ]) P% ^& J
similar to bonds, CDs trading in the secondary market have different value at different times,
% B. _1 W  e# P2 h& J$ l, t4 ?normally the value is calculated by adding it's principle and interest. ( J1 Z# I' c) E+ E. g
eg. the value of the mortgage+the interests to be recieved in the future.
4 D4 p: l9 _5 J1 S% [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.% K/ z+ ]1 r. ]; e2 w# ]
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im not quite sure if the multiplier effect does really matter in this case.4 Z1 ^5 p2 P% }5 X
in stock market, it's the demand and supply pushing the price up/downwards.
3 L( m% a- E- o/ EFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 w9 j- u  P8 G! }' A5 p  L- Q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% p$ ^$ z; m/ 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. 5 p+ A' J% d- G. G4 i4 K$ O6 B
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 ]

Kev

原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif  f3 Z- S& ?% v1 x% \
Refer to last example,) c0 R9 ^$ h/ Q0 A/ m( W
that means bank A have no money because we borrow 10 dollars from bank A 4 C0 F7 Z- u) @+ @3 X" N# `
Because bank A doesnt have enough cash on hand 1 e0 O: ~; ?2 y% Z. U/ x
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E0 `9 Q" D0 X9 `0 m7 Y$ @
so does it mean if E failed to pay D,
, G, e7 {3 [5 ^) H" _0 _  W  }all the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
1 e2 T6 n9 H/ ^in this case it doesnt really matter how much money is created,
" Q' W3 H% x3 F0 v$ t' V/ F- Git's the problem of the debt itself.
6 B' {" C; T# m% q& {( Z. J% E+ @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
2 e$ W; _! j5 E* \小弟一直都唔明...1 A+ x! S; K) w* O$ x

2 \# v* L2 V# K9 Y全世界都蝕錢，咁邊個賺緊錢呢?* g0 V5 X7 t$ w; @% 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
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$ J+ D/ f0 T$ @) \' b9 @Thanks

/ m7 v) h6 r+ J; P" M, s那些根本係 紙上財富  1 f; M' \- y2 k( o2 V6 V
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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3 e2 k. l! U4 J7 K7 [4 bhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產+ [% }: p4 s/ ^5 J7 z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高4 D  R; f/ V$ U; D& H
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1 ~3 b* h0 ?" o8 X: u( e' r  X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
# m6 ?6 ?& a$ i! R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,- P- q2 B* a! u; E$ q. H! T1 |
計番回報率就已經係50%,所以可以好好賺
" x) V1 ?, ?" O7 o! z1 {; d前提係銀行之間要互相信任先可以咁樣借法
0 F0 X: I1 b, i! }8 Y1 g同埋個市場既前境要係好先得6 M" c& T8 P+ L+ K' I
但當經濟一差,公司估值趺了,物價不升反趺3 ^$ z9 h8 q" H/ S
例如剛才說10蚊的, 趺到得番9蚊, & r3 K7 i: S% `0 K, G
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 o0 N. `. V8 y! @. n所以你就會覺得D錢好似蒸發哂咁' o  ?$ c7 k/ s2 y

$ |# `- D7 d& R. K你都可以當標野咁諗, 個樣野多人可以狂升值, ' a& @+ a% M8 p+ q4 g4 z# b8 D1 q( 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, $ v( ?3 L: `% h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 K7 u8 O; N( U/ ~3 ]
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 o, @- Q* K" S0 n" X2 h
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
7 M; N1 D3 a. @- [1 M% V1 [唔係d錢蒸發, 而係比美國佬洗晒未來錢, . \4 T$ }$ C6 L7 p/ ?" J2 \9 Z% \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 7 O7 L4 V! Z/ c( g7 V) D+ {
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 ]  S5 d/ P2 O5 B, d9 C  Q) G
咁你話d錢蒸發左去邊? ...

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* u* M1 @* @( D' S& Z8 R  O正係咁樣
2 q  V' G; [' l9 Y) q+ `. b  F5 L1 w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 j& _# k/ i5 [2 u: ^$ s* J' }
分分鐘佢地唔使還錢
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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,( k5 |, [% |' M- h3 |9 `6 T
連國家都係問人借, 不停發債券, 印鈔票
+ r9 c2 O& c9 v2 |6 @3 k一個國家好少出口, 而又大量入口 ,反映到佢唔多生產* K: p2 A2 w" z, k7 P0 n! ~( N3 E
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/ Q9 K1 f+ \, l; T$ g9 Q
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
2 v( G* N  V$ a& q- v7 B因為以前未生產, 先消費1 B" X! S8 u2 e6 z
而家就要多生產, 少消費