0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
) a/ G: H  W7 {# ]Why bank will sell 借據給第三者???
0 j4 i7 q- q* r7 II was so confused.....

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講到尾都係賺錢: ~: h1 `1 z: Y. y8 T* j7 c
so銀行可以不斷放款4 g6 l0 k0 o# s& ~0 m3 u" j
美國的房貸問題散佈到全世界' W2 H  z% v5 {6 O! [
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mortgage loan 8 P& K) r: w% \) L* x4 ^* u! S
>conduit0 n, ~: ^. g/ g+ N
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)& }8 ~: K3 O, _1 ?1 I
最後去到投資者

Kev

i thought it is the reason of rate of return.) R* a: Q7 t7 M; j( u4 Z( y6 }3 W
CDs could have different ratings, AAA -> F,
8 W" h1 C8 A' m# M  smore risky ones would have higher premium (interest rate) as a compensation for an investment.
( S" Z" P: P! _6 d" h( s- cmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
  ^, g" k; Z- j/ z( kin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
% Y; Y7 E; Y/ L! L0 {4 i' pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ G: q: p2 B4 q) I7 x, h: z+ J6 q
similar to bonds, CDs trading in the secondary market have different value at different times,
/ |  B, X6 {8 d- O* inormally the value is calculated by adding it's principle and interest. / i( Q3 V! f/ ?7 U0 x; W- Z
eg. the value of the mortgage+the interests to be recieved in the future.
; O, T. g( M/ T/ R0 i! Lbanks 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.( ^( }1 d; {. Z+ T4 {
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im not quite sure if the multiplier effect does really matter in this case.
( `) j0 N3 ?! C3 q" S& h: min stock market, it's the demand and supply pushing the price up/downwards.  t5 M1 G2 K, r4 _$ o* ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 d, Y: O. }, \% CA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 ]6 ~0 F. q0 Q% O: ~5 Y0 LThe 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.   [+ B7 g1 |) c/ j1 M! K# D. G4 r
but the value of their assets did really drop significantly.  Q# H5 D8 T  p) j' ?! P
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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& s; Q" q( Q! K) i( h
Refer to last example,! z# v' H& i2 T4 W
that means bank A have no money because we borrow 10 dollars from bank A
/ C: m" j3 N. V# K4 u2 EBecause bank A doesnt have enough cash on hand 7 C# G1 U; c0 q
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: E6 z; W- r  [0 O* x- nA->B->C->D->E
( d3 i: e5 ~( a/ L) c9 d" P7 K- Nso does it mean if E failed to pay D,
2 I6 B! [% l9 N3 n8 Q! ?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, 8 o; c% B9 J' X8 V, M
in this case it doesnt really matter how much money is created, 7 n+ f( p: M7 o
it's the problem of the debt itself.
- w6 V2 d9 e3 s7 Wthe 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$ X& d$ Q) x5 p0 d/ K" a
小弟一直都唔明...+ `- N+ r/ y) C
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全世界都蝕錢，咁邊個賺緊錢呢?
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無可能淨係有人蝕錢無人賺架嘛...4 ^& S' d, k( a( ]$ s

2 ?" x" C$ g1 m& p. \2 w" a. l  q敬請各師兄解答
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Thanks

2 q9 M! F4 @* ~; N  Y那些根本係 紙上財富  
6 T1 ^7 K, E' \% r% x$ H5 ^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 E" H4 V( T+ m  S- o! o/ }/ }
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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3 {% J2 u( @/ P0 `+ e9 a. g7 X; @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高+ H8 V; Z+ n# L( f& f' Y2 E2 t9 @) o4 V2 `
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8 G' }: V7 i8 K- X
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% S8 c/ {# a% l# j; Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ D4 F9 e( |/ \( g, t* X
計番回報率就已經係50%,所以可以好好賺& w, g' Q, Q# D9 J, M
前提係銀行之間要互相信任先可以咁樣借法
5 G4 F0 x" W4 M, l0 v同埋個市場既前境要係好先得
# a5 x: i( f/ B& U; t$ f但當經濟一差,公司估值趺了,物價不升反趺
7 j+ q% V7 m1 ]" o. k  `! e例如剛才說10蚊的, 趺到得番9蚊,
9 e; f, v) c" @& I. _! J0 r咁投資銀行一下子就要還11蚊, 一來一回變左虧200%( H, L( `, o' z1 l5 u
所以你就會覺得D錢好似蒸發哂咁: a" K7 C" R' Q# c, Z  C

& n; j+ M2 V. E; l8 b你都可以當標野咁諗, 個樣野多人可以狂升值, $ f& y* g# W1 c, B
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,
- l' b1 l/ u2 q  A0 C淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ D$ k3 C7 x, H+ K# X% d# Y# p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
/ N0 T0 B9 q" s8 C3 w7 ?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( P. Q* }0 [' S: z  d2 `
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' j8 X4 P% `+ Y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 {: k2 M$ k" A6 R6 B: 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# V. A" Y' W8 g2 I( g
咁你話d錢蒸發左去邊? ...

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3 ^1 o% x+ ?  Q  \9 i正係咁樣& d" F- {5 k& L
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0 u+ Z9 j6 i, c4 F7 k& V
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,2 M% b' z# [  g7 K0 J
連國家都係問人借, 不停發債券, 印鈔票: N* }0 v* V" g2 l  `6 {+ K  r8 V. q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, j7 d( V! n1 n9 Z4 W0 k' B  z
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% p9 c* p% O# Q* G* M. C' B; x# V
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...  z* v1 K2 J3 i* j7 a, |5 J
因為以前未生產, 先消費5 q& r" l/ D7 q
而家就要多生產, 少消費