0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 c& V7 C5 ~7 l' ^' CWhy bank will sell 借據給第三者???
$ W4 C* G, C6 wI was so confused.....

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! H$ t: K7 B7 Y. y3 M5 A: a# _講到尾都係賺錢
# S% H8 Q* d9 ^8 u3 S* \+ Tso銀行可以不斷放款3 _% T3 K8 u$ t8 t! r. P
美國的房貸問題散佈到全世界2 ?. I* j2 N. {9 O/ t. N
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mortgage loan
2 o( e% c; \3 I( k>conduit
, K- F2 Q9 H1 Z# u) x% T- {) B>RMBS(Residential Mortgage Backed Securities)( l% S, B9 c5 C/ r
>arranger
. ?  H/ j+ S1 h" c/ ]>CDO(Collateralized Debt Obligation)
- v. Q6 c2 T  l$ L; K/ B最後去到投資者

Kev

i thought it is the reason of rate of return.
. `( J" m; t* L  [. QCDs could have different ratings, AAA -> F,  O3 p+ ]) G0 a6 ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.  Z' P0 c. K% a
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% C" y# X( j+ f- S8 G* N
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 u  ^" B/ o0 J4 Q* Z9 c5 cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: a. D! k8 V; W0 d  L
similar to bonds, CDs trading in the secondary market have different value at different times,$ A& ]) f; Y0 K( e+ t: U3 W+ ?1 _" i
normally the value is calculated by adding it's principle and interest. / C0 M3 O4 O  b5 \- _2 n  Z& z
eg. the value of the mortgage+the interests to be recieved in the future.
$ G" B# {5 v% Q, Z# 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.
8 y, s! _* d1 q+ y5 Q7 J8 win stock market, it's the demand and supply pushing the price up/downwards.5 X' k: M  e- ^' Q6 {& ~
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 p# i! P7 b, R' w$ |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) q8 h7 V# S* g- ~5 ?1 |5 _" X" ^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.
. p& H8 ?  B$ b! Pbut the value of their assets did really drop significantly.
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  _/ s% t! w& D( I0 s) H[ 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
1 r. d8 B0 q# H3 s0 p: T: f( w& u* ZRefer to last example,
7 Y9 U; T# P5 B/ K+ {* [that means bank A have no money because we borrow 10 dollars from bank A 2 K/ m' ?, _% k2 V
Because bank A doesnt have enough cash on hand
1 M* q  e) b; V" T1 V# V  Ztherefore bank A need to be bankrrupt ??? Am I right ?? ...

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5 ^* j% @5 ]% B$ t) Q( ?A->B->C->D->E
6 R) W# T5 L! c" q2 Nso does it mean if E failed to pay D,
" I: o) F) K+ \9 B& Sall 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, ! Z0 v, Y! F2 v! B8 s+ x1 w
in this case it doesnt really matter how much money is created,
, K! C3 ~3 n$ j7 c. \4 u( _it's the problem of the debt itself.2 P$ W/ z# L7 H
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
& {* X5 i- V8 x" I; R小弟一直都唔明...% I9 Y- E( \2 L" X

- d  F% g/ q! N$ Z3 y全世界都蝕錢，咁邊個賺緊錢呢?
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/ m  \1 `- \* ?) n無可能淨係有人蝕錢無人賺架嘛...
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2 ?  T7 T* w% ]敬請各師兄解答, g# e5 w  j% |- z2 v- O# T
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Thanks

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那些根本係 紙上財富  
: `" G7 q6 W- g  @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 graphic6 ]% G" f3 \( S& q. o. T
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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( f# w. Q  I! L# R% K
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
& R( H; B5 [0 l9 q, l7 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: N" b+ B, ]& I( z& F# [. p) ~
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
( r( e8 E/ k' e+ X; J* h扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,: D9 C3 d' {/ O! R1 H
計番回報率就已經係50%,所以可以好好賺& E+ `) ?" C$ |1 y
前提係銀行之間要互相信任先可以咁樣借法! _  C# p% ^& z! p% g% h
同埋個市場既前境要係好先得
% ]5 v" P" \/ Z) ~0 k0 _3 h" O! O但當經濟一差,公司估值趺了,物價不升反趺
0 F  d+ Q* v  z& W- `+ \例如剛才說10蚊的, 趺到得番9蚊, $ J; I0 B/ z$ t: X
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ w  N6 X0 C. z1 I" ?
所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
! ]7 \. d! k& M! T+ p3 S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, / u  N( h1 n" G1 l+ e
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 K2 X6 W! ], S5 }9 G% A7 t. 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
5 s4 q5 ~; u  E9 W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
( ^; S( @% a' h& ]1 X; h8 ~; U唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 p1 @3 ^" q4 ^/ G7 X6 C
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( I: Z; P, J+ @2 |- N8 p9 o, k- l# 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
" {, f. ~5 s" a: J! }' L咁你話d錢蒸發左去邊? ...

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正係咁樣
( s( X( K3 N5 T/ V+ R$ o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' h/ v6 ]2 T, M3 M, F( X
分分鐘佢地唔使還錢
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: T) o  ~- m& i) K: T/ v& _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,
9 p* [1 H; c# o4 i! k9 C" e3 \連國家都係問人借, 不停發債券, 印鈔票
3 S; S9 {& B( G) ?* G一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ t! E+ Q* ?3 k8 K0 ~; D4 W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
2 p9 T7 B# L, [( ]/ ~' h) X! y. ~咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...8 L7 ~. e4 W' J; k
因為以前未生產, 先消費9 Y0 s9 ]8 T2 K: J. [( n& k3 O1 q; g
而家就要多生產, 少消費