0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* ^7 N) P, W/ h5 I2 @1 mWhy bank will sell 借據給第三者???
9 P: a+ \) j- K. H/ \# aI was so confused.....

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講到尾都係賺錢% X& k8 s# J9 n2 p% m( H% h
so銀行可以不斷放款+ q0 I# A" z5 s" |" e3 |
美國的房貸問題散佈到全世界( N$ [9 W) a# S* c2 J9 @8 l+ ]3 @
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mortgage loan
( A$ q1 F8 g! J7 b>conduit! n5 N* j+ Y3 L6 u* y* Q  @$ ?5 h
>RMBS(Residential Mortgage Backed Securities)
6 I- r( W: r5 p$ F# ]8 K>arranger$ S' s' s( [7 \' P" a1 Z/ `& {' L
>CDO(Collateralized Debt Obligation)) Z8 Y* S: `7 k
最後去到投資者

Kev

i thought it is the reason of rate of return.! V2 j/ }2 u' ~% `( q
CDs could have different ratings, AAA -> F,: K0 L6 T& @8 l( C: ^* B8 s
more risky ones would have higher premium (interest rate) as a compensation for an investment.
1 z6 ^* x( \0 a, u! p: V- Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
* H$ W# o* V+ w; v3 _2 {4 |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 j$ Y: l- [# ?( ^. x, O, S2 J( n5 \
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.5 c3 b+ M6 T9 \
similar to bonds, CDs trading in the secondary market have different value at different times,) M! i" ]# H# v" ?: Q
normally the value is calculated by adding it's principle and interest.
- C) v* o5 `  L) Oeg. the value of the mortgage+the interests to be recieved in the future. 2 o9 `% e5 _$ C- _5 s, s( B- }& ~
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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8 U" k# F! O: W9 Kim not quite sure if the multiplier effect does really matter in this case.* _% e( e3 `3 v  t. @
in stock market, it's the demand and supply pushing the price up/downwards.
$ z2 `8 R" y, q( L& O( G9 a" o, @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& Q1 N2 Q% W9 F% ^- u0 a5 RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.3 O6 G- M  q; C/ m/ K! 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. . {' Z# Q0 ^, A) K
but the value of their assets did really drop significantly.# l$ v. Y1 p2 o0 [, w+ x, P- Q
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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  }, Q) V, |# ~* O. Y9 H
Refer to last example,) ^# [5 d: c( k1 Z4 H+ J
that means bank A have no money because we borrow 10 dollars from bank A
# ?3 m3 E" m9 \! {* v* o6 S" R! SBecause bank A doesnt have enough cash on hand
) ~3 u" `8 \; U0 c2 _6 ytherefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
. P7 v. K# J. q+ t5 kso does it mean if E failed to pay D, ) C! `: H/ E( s
all the B,C,D,E have to go bankrupt?) t' ^7 F! M! A: F# h

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the multiplier just tell how much money created in a whole economy, 8 _4 R! w/ q. U8 U8 ~+ R  l
in this case it doesnt really matter how much money is created, 2 ?* g/ B1 z4 Q3 T8 m* @( b0 G
it's the problem of the debt itself.
3 V8 f0 h; d% Zthe 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
3 U( U, d3 l6 n& `小弟一直都唔明...
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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...# ?, i9 ?# X8 @
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敬請各師兄解答
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Thanks

* y9 B; }" g" w5 R) J& m$ U9 Z那些根本係 紙上財富  
, Z- t# A' W$ v& H9 ^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  G! B- i$ i% ]2 u" U5 z6 G
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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
+ _6 C( t1 f3 ~9 E當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% l2 `0 a/ i0 O# \1 i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$ q5 b9 U( t4 }, F9 `& m
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: `5 U# O( u( o1 V4 Y' K扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,) `9 l0 H! J3 y
計番回報率就已經係50%,所以可以好好賺
( l1 p/ A4 W1 Q" `7 S( i前提係銀行之間要互相信任先可以咁樣借法) l! i/ D- n% d% F/ W
同埋個市場既前境要係好先得
1 _/ g1 g6 m7 H4 t: T: J; D! r但當經濟一差,公司估值趺了,物價不升反趺
& @, f. m+ \+ z/ }3 M例如剛才說10蚊的, 趺到得番9蚊,
+ \3 L9 d" `/ |' B& a+ Z& U' V咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# P1 Y3 S# P9 Y& L% q6 {% z所以你就會覺得D錢好似蒸發哂咁: T9 j" |; A( c5 W
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你都可以當標野咁諗, 個樣野多人可以狂升值,
+ Y# t8 V* X9 t3 h8 I4 T! v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, . B$ Y0 X# o# }+ v2 ^9 `2 ^& F
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
5 T0 W" O4 Z) y9 g7 E" ?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
! `* g4 T' |% t% k3 m) ?1 O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.gif6 x2 @7 d1 I$ a6 i
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 x8 k7 l" ]) o7 x$ V" e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, % k4 E6 u! b! |' _1 \1 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
3 S" a. e5 Z& k6 a- j! X2 A咁你話d錢蒸發左去邊? ...

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正係咁樣* W5 u0 |2 T. H' L$ u: ]5 M2 }5 B
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
' G2 ^2 ~' v( b' ?6 s) y分分鐘佢地唔使還錢2 _! C: }# `. z( @% h2 _+ q$ R
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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,1 [0 b5 c2 X2 L5 T
連國家都係問人借, 不停發債券, 印鈔票' T; t; P8 n: |* g' T
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產, m% N% F- _7 H$ f* o+ ^6 `
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.gif3 s& S( ]3 y$ T
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( y6 l! s  F& g9 A% F其實係...
0 [' v- \7 G# k$ R+ u( i因為以前未生產, 先消費
/ J& K; \7 ]6 }. N# Y( P/ m而家就要多生產, 少消費