0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif' Q* ]3 o3 I) l' g4 E0 ]" R9 x
Why bank will sell 借據給第三者???" }: V5 Q4 {0 S* J, }& `
I was so confused.....

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講到尾都係賺錢
7 s! U2 r( D( F) Pso銀行可以不斷放款
3 W7 |/ n- i9 x2 I! [4 t3 p美國的房貸問題散佈到全世界- D% C. y* P$ t' N1 W* F2 F. N
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mortgage loan
$ X4 A! R! T4 z$ s& R1 `; u* t>conduit! i* E/ a7 H% a* s% \& a/ q5 i2 `& G
>RMBS(Residential Mortgage Backed Securities)
4 l7 d' L" x( f) A>arranger: \9 F: |5 h* b) V: f/ k" f5 e
>CDO(Collateralized Debt Obligation)3 V& a$ r' Z. W
最後去到投資者

Kev

i thought it is the reason of rate of return.$ b) Z3 O9 G4 |: t# D: s
CDs could have different ratings, AAA -> F,
9 l- X8 s9 I* ^/ @( z9 lmore risky ones would have higher premium (interest rate) as a compensation for an investment.5 W: m9 T% q. N: L) v  M4 A& T8 V
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 P3 _/ b) _0 I* A4 X6 M
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 O% \8 _+ B( K: ^. i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' l$ k# Y6 q) Q$ {* ssimilar to bonds, CDs trading in the secondary market have different value at different times,5 F" ^- t+ C, f
normally the value is calculated by adding it's principle and interest. 8 U, S3 E- X6 n/ L3 T
eg. the value of the mortgage+the interests to be recieved in the future. - w9 K: F: ^9 V! ^& z
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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3 [* J3 r( l7 E- _+ iim not quite sure if the multiplier effect does really matter in this case.
0 J+ O9 o0 b& d& `) @in stock market, it's the demand and supply pushing the price up/downwards.' c1 a/ f9 W& C0 q+ _' q
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' q' V* J. |  K! |% E
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.7 F- t- }6 c: j( J: A) F
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.
$ J% ?! }' o* w' V* Bbut the value of their assets did really drop significantly.- D( {5 b3 G' X6 T7 s% x! R# i4 z

6 d  k1 ?7 I0 J1 l- l  A0 s[ 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
3 Y! M0 |4 l/ q; l' P3 ERefer to last example,
+ c& i" @% E- g9 D) E( qthat means bank A have no money because we borrow 10 dollars from bank A 8 i4 i0 E9 ~9 ?% D( l
Because bank A doesnt have enough cash on hand
. ?" T. Z, Q& v$ H  k" c# y# p. ?therefore bank A need to be bankrrupt ??? Am I right ?? ...

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7 t6 _  y) f" nA->B->C->D->E1 V3 j' `. X- k1 N
so does it mean if E failed to pay D,
+ U+ `# w8 F6 |: `" U. kall the B,C,D,E have to go bankrupt?4 h6 P5 e5 a) F- H" M8 j

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the multiplier just tell how much money created in a whole economy, " F5 ]/ W% ]  M( \4 |/ e
in this case it doesnt really matter how much money is created,
9 ~9 a3 {+ c8 oit's the problem of the debt itself.
, v) J1 w& H  M: C% V& pthe 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
) W. ?, \$ Y2 p小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?1 s8 V! F; {" z; g2 R7 ]
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無可能淨係有人蝕錢無人賺架嘛...
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$ a9 M9 g  t2 E3 h% r敬請各師兄解答
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Thanks

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那些根本係 紙上財富  
" a3 d9 P7 O$ J- u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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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
0 I1 C! ?4 k# s- d  ~( ]  A當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 E- @5 [$ T8 v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$ J: d1 S/ S3 B" ]( V3 ^0 q( x
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; U" r) i) G$ b1 A5 E6 P* V$ s: {) d: a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' Q' U9 X* c" H) J
計番回報率就已經係50%,所以可以好好賺  H+ d# s! H7 H1 {" Z( e0 P
前提係銀行之間要互相信任先可以咁樣借法
( w0 V( H! o9 M同埋個市場既前境要係好先得
# o8 {# Z$ V, R* m8 J' n但當經濟一差,公司估值趺了,物價不升反趺3 H( Y9 b- ~) L  ?: m
例如剛才說10蚊的, 趺到得番9蚊, : q; D8 D) Y; v, D; H- q$ s
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%& e/ T- i, N7 z  @$ b, R! E, B% ]
所以你就會覺得D錢好似蒸發哂咁( K  M6 e: w  u& p) t

5 Z# e  o$ F3 {你都可以當標野咁諗, 個樣野多人可以狂升值,
$ ?+ ]/ H$ ]% W- X/ W, j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,
& f* I; a$ F: e( D, X, T淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 q( Z6 Z9 n- j( 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' ?" d0 g0 U9 j) t* F
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. a! L6 G8 C- Y; w, h# v! C
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
; G: `* Z3 ~3 j; x* E2 f- p淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 \0 t7 @( }+ [% 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: W+ f" F9 u) {3 W) h3 F
咁你話d錢蒸發左去邊? ...

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8 A- p# F# \1 [* W正係咁樣3 E6 B4 `7 J" ]/ l7 H
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
* r- C1 I; }5 a  Z  u4 |  o7 @分分鐘佢地唔使還錢7 Q: [. |8 R" P7 F
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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,3 i3 m# N: M- [8 O
連國家都係問人借, 不停發債券, 印鈔票! e" P, B! S) F* d  n+ \
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
4 z* [. ^% _0 M" ^/ 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.gif8 T* Z1 L; }( p+ P( u
咁而家"爆哂煲"算唔算先至係變番"正常"???

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* @) s' g! }8 M" V7 t! M; X其實係...
0 x) ~$ v: T: G; k, A- d. l因為以前未生產, 先消費
1 e) A. R/ W' F/ I) R而家就要多生產, 少消費