0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
" g$ ^' ?4 a4 a% ?+ nWhy bank will sell 借據給第三者???
6 P) T, s+ f% K, v: i6 bI was so confused.....

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講到尾都係賺錢
. Y2 e$ f/ [( H8 V3 O# E) y2 k3 Fso銀行可以不斷放款
# f8 Z! i! ]+ W$ ^* s1 r美國的房貸問題散佈到全世界
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8 }1 ~$ I8 R' h. c' [mortgage loan ) x$ U7 @- Y# d2 {
>conduit2 ~& J' d9 m; c- N% I5 `4 x
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
' x9 a8 n7 u  f+ z& Q8 J最後去到投資者

Kev

i thought it is the reason of rate of return./ G/ U% T- ?* W+ x5 q" B
CDs could have different ratings, AAA -> F,
9 X7 N" f  p7 B' F( m% c/ k$ D  w) G  zmore risky ones would have higher premium (interest rate) as a compensation for an investment.
1 X9 \5 I+ P+ D6 [3 b1 o3 M9 l4 Jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) @8 H! X. y5 V+ x2 X) G- ^( }in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
  }9 o# ~! Z4 E; ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& v; L1 l- g7 a' C
similar to bonds, CDs trading in the secondary market have different value at different times,
5 e  s' l  X2 i+ U# hnormally the value is calculated by adding it's principle and interest. 3 r  e' Z/ B& s) ~. F  J
eg. the value of the mortgage+the interests to be recieved in the future. 7 L/ U+ _/ m0 n  N& D$ F. P
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.! S1 r0 d5 y4 ^* O& \+ u- T* ?

) p* ]: g  ~7 N- d& K0 Cim not quite sure if the multiplier effect does really matter in this case.- b4 M, H: Z2 l
in stock market, it's the demand and supply pushing the price up/downwards.
) L% _, V' P  nFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ D. L0 U, \- T( S; vA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 ^1 q6 ?( T; H7 p, f# mThe 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. 1 n. B: w0 l4 B$ M% s6 Z2 L
but 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
, e' h- j, }2 V  g& ORefer to last example,
1 @3 Q' s& q; g" ?that means bank A have no money because we borrow 10 dollars from bank A ! T$ |  h# [+ ]0 Q4 m$ k% ]1 K; W
Because bank A doesnt have enough cash on hand ( {; Z# Y" i) B
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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# k7 i8 C6 G+ ~: N& p- S% K9 }A->B->C->D->E  n: g, m/ v$ S- K% w3 {# c; `
so does it mean if E failed to pay D,   p# ]8 Z' b! o0 n! P* y3 g5 v4 W% c
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,
+ }+ x9 J6 f* N' ]in this case it doesnt really matter how much money is created,
% D/ U6 ~7 c/ dit's the problem of the debt itself.# B& `+ d6 ^, ]$ N
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.gif2 `1 u& H0 O: N1 S! z3 A
小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?( N; F: ^& Z% o1 E, o
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無可能淨係有人蝕錢無人賺架嘛...' p7 }# i4 N" @; [$ ^- ?
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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  
/ H* p3 o0 R- c8 e5 v; H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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- i4 O7 f1 M1 ?2 d) dhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( ~  e/ R  A7 e. ^當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
8 e8 O7 Q' l8 P  d, C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
0 L6 h' O' A1 g& M# ]! ]個件物價係市場好既時候升, 例如15%先算,變左12蚊啦6 f0 a9 H3 L" Q4 [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,8 e6 t/ F) r4 `: h8 `" N) P
計番回報率就已經係50%,所以可以好好賺
, y( p6 }! A1 ~- ~) V- n前提係銀行之間要互相信任先可以咁樣借法- r7 c3 o* y, g  g2 b% l
同埋個市場既前境要係好先得' p2 {, y" M2 M( E
但當經濟一差,公司估值趺了,物價不升反趺
, `0 v- k% @# H+ ^" K  f例如剛才說10蚊的, 趺到得番9蚊,
# g" m* v* E7 s咁投資銀行一下子就要還11蚊, 一來一回變左虧200%0 m4 _1 \2 t! C3 \$ b6 T: ~  z
所以你就會覺得D錢好似蒸發哂咁
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- u- n( [9 K, k7 i$ ?你都可以當標野咁諗, 個樣野多人可以狂升值, % |: u# b$ V8 D$ A# B6 u$ L. B( D
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,
' n4 s: s* B2 Y' N# n2 `% V6 b淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 8 `( a- r4 ^; w/ 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% w& w/ \* q$ [+ W& t
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
0 I! @7 K( {4 Y3 U, O/ ^7 r8 r3 n: k唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  u& L! F- g& y# L- j- H  H. H7 _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * P$ \; \* P* F$ V/ s0 |
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
7 @" }# t. s2 c* z3 I  `& j咁你話d錢蒸發左去邊? ...

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' H! j- Y/ v0 k' L! z正係咁樣  i# ~# Y+ `4 ~$ N- f
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; p( x, h) W! M& k: X2 L/ X
分分鐘佢地唔使還錢
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; N6 P) F! ~! m* A$ w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,
+ Y1 _* H+ z+ g9 j連國家都係問人借, 不停發債券, 印鈔票
7 \8 p8 i5 ]* u; K8 y3 {* F一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
, t0 l3 d4 y1 z/ E$ _& m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
: J; g! b  W$ W1 L$ W咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
8 d( I5 }( u' m, _0 H: q) J因為以前未生產, 先消費
$ ^7 `7 n+ ]; r5 N; w9 j2 ~( H; X而家就要多生產, 少消費