0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
5 y2 H  c9 S- g4 DWhy bank will sell 借據給第三者???! x9 ^, L6 x# P, s" [/ M/ z) w
I was so confused.....

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講到尾都係賺錢3 n- T6 }' \; v; a9 j# \
so銀行可以不斷放款8 v$ l' q' `: f3 V7 d% @
美國的房貸問題散佈到全世界: w/ ?3 t& V' l3 Z( C9 K
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mortgage loan ( f+ E4 ?% A+ j
>conduit  G# e+ g  p1 [8 B
>RMBS(Residential Mortgage Backed Securities): F/ ^$ }8 t( F( x  u0 J
>arranger. L" _# d# M/ K7 u. O
>CDO(Collateralized Debt Obligation)
9 k! D$ e2 W2 b6 G最後去到投資者

Kev

i thought it is the reason of rate of return.4 N" p: \* e% s7 [' D- ~
CDs could have different ratings, AAA -> F,
: p; n# G1 a. I/ O& Q9 Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
. L7 O; H- {1 I  Lmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( B) g7 P# O+ f7 ~5 a7 L2 ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
( F* C4 Z7 g/ iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 v8 k' j9 p4 `' \; f
similar to bonds, CDs trading in the secondary market have different value at different times,
  }7 A) }4 a" G5 mnormally the value is calculated by adding it's principle and interest.
' C$ M; ?  w8 d7 ?eg. the value of the mortgage+the interests to be recieved in the future.
: W) V# \, z5 S$ Abanks 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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* g- H6 y- x$ _9 X6 n- d* Xim not quite sure if the multiplier effect does really matter in this case.- }; u4 F, P& T
in stock market, it's the demand and supply pushing the price up/downwards.
% M% `# {, V1 P# `9 M6 V2 A& GFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,* a9 T5 G2 ]' Y( @$ Y/ Q
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 A: N% g/ }8 V% [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.
" ?, C1 R* A* G" `4 W* Abut 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% Z5 c  L2 p7 \) A" j  {7 S$ d7 I; o
Refer to last example,
9 _0 p, c$ J8 C7 {that means bank A have no money because we borrow 10 dollars from bank A ! O' @5 F9 G4 A4 Q
Because bank A doesnt have enough cash on hand , N( }: J) O  Y- C
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# R" w' I8 O: G) j/ V" AA->B->C->D->E2 o, E& s/ R9 W$ F
so does it mean if E failed to pay D,
  {$ ]( S$ }0 K) t9 k# ^all the B,C,D,E have to go bankrupt?
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% j  I. o% v( Y3 r$ {, F
the multiplier just tell how much money created in a whole economy, 8 I9 t; |6 t% B: R' I6 T, e
in this case it doesnt really matter how much money is created, 9 U& ?5 N; j6 T% l
it's the problem of the debt itself.
" j  w$ v: _1 `* k1 U" m' }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
% d0 v/ D/ r2 ]7 G0 K小弟一直都唔明...' N& ]- E+ U4 s. Y) _  y2 }

6 A, T0 c$ s$ A  P/ b! {/ c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...9 p  _9 f/ i( `3 m! p. f
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敬請各師兄解答
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5 F& [% b+ `" W4 B1 QThanks

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那些根本係 紙上財富  
# a* x& L' ^* A; 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 graphic4 Z& \% V2 Y2 H6 [# _1 _

& ]1 a9 q8 R/ N  P) ?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+ C0 p9 }8 I) @8 J
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, V4 y& r5 D8 v4 h1 A
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( [' Z2 h8 C5 H
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% }7 ~! r  z: n6 z& X2 n扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
+ J' O9 G. L! n% g( u# }9 Q計番回報率就已經係50%,所以可以好好賺
7 m+ Y: v9 b/ `+ n# F2 U前提係銀行之間要互相信任先可以咁樣借法
; @, O7 o9 I5 C! S9 F* Z$ v同埋個市場既前境要係好先得" |2 K. D& u" S5 G/ o! M" j( `
但當經濟一差,公司估值趺了,物價不升反趺
/ i6 k4 J7 ~; E3 o8 J, n/ D5 I例如剛才說10蚊的, 趺到得番9蚊, ' U, C/ j3 \+ R2 I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%4 ?. d0 @5 z, U% k
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,
+ V  q6 w( Z, r7 P. }# m  r/ p2 `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,
# s6 U3 r9 D% Z. }) ]淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 z9 u/ J( h$ K2 \0 g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2 y/ K  k$ a; t( 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
7 q) g) J9 b( L% h* b唔係d錢蒸發, 而係比美國佬洗晒未來錢, 3 ^. }1 `+ P" R, R( U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
8 U) \7 H- W# I* ~" j$ 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
& K" f/ b  M% i" q/ T7 Y2 H6 j咁你話d錢蒸發左去邊? ...

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9 Q5 f# K8 E% k' g- i; S4 A0 D# S正係咁樣+ N: m5 N( M3 P# T; _2 P7 ~+ ~
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 @' j3 |, B- o" E
分分鐘佢地唔使還錢' v  Q6 W) b1 K9 n$ [) @
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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,0 i) {" m0 l; X4 Y! K! x
連國家都係問人借, 不停發債券, 印鈔票! o2 f4 N- y( k" M# l
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% V5 W: C' Q) [% m2 \+ 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
9 S! {, O# ?* h* [$ y  |咁而家"爆哂煲"算唔算先至係變番"正常"???

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3 H* P2 w! P- P其實係...& t! P# p& _9 Z7 g. _
因為以前未生產, 先消費# v* c7 l. k& [
而家就要多生產, 少消費