0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif8 ~3 Z6 m5 _8 {
Why bank will sell 借據給第三者???' J$ U) ]! m' a; b, o4 a
I was so confused.....

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講到尾都係賺錢1 t$ p5 \! |2 i1 B8 i1 ^/ m
so銀行可以不斷放款( G) {" G8 G. S( e6 Y3 u, ?* l
美國的房貸問題散佈到全世界- I/ r: N% K. }4 c
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)& E* j, r2 H5 t4 O( T
>arranger
3 L( x  e; D8 I) ]  Z, [7 u>CDO(Collateralized Debt Obligation)' f# z1 ?7 s9 H, A- y
最後去到投資者

Kev

i thought it is the reason of rate of return.  B5 P0 L  _6 A3 b+ g: f
CDs could have different ratings, AAA -> F,
: z# {/ j) w# \3 F) {) Bmore risky ones would have higher premium (interest rate) as a compensation for an investment./ _! F  m/ P/ n7 d6 h/ k% c& a
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
) [: b- M; g9 Q$ \* m* c5 Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ o/ U& |. S" s0 d) D: TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.2 b3 W$ Y/ j  h
similar to bonds, CDs trading in the secondary market have different value at different times,$ X% s! {$ e' z' d) m# J
normally the value is calculated by adding it's principle and interest.
% g8 e' v2 j# xeg. the value of the mortgage+the interests to be recieved in the future.
5 u0 [# U, H5 K) L4 k, W" \5 Jbanks 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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$ t0 J% c& r. a7 F! c8 t& Q9 }im not quite sure if the multiplier effect does really matter in this case.) w- `. ]0 M  L- M
in stock market, it's the demand and supply pushing the price up/downwards.$ F' W, `4 |7 S3 i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, ~' E9 m' s: ~4 h3 j% oA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.2 ~  f5 m- v- ?6 Y0 M* N
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" X& [9 a( y5 p0 Z, Z- D
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
' m! ], r+ N0 u% s) V* MRefer to last example,( |# s" o; R' W7 [: s' E
that means bank A have no money because we borrow 10 dollars from bank A
- g% H! T& ^7 Q) t8 j8 ]  mBecause bank A doesnt have enough cash on hand
$ G" \! t2 v, }6 _$ c7 }therefore bank A need to be bankrrupt ??? Am I right ?? ...

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: _7 p3 s& t9 NA->B->C->D->E' L0 n6 v9 E9 Y6 L! U6 V8 H5 I
so does it mean if E failed to pay D,
/ |# w5 v0 K% F6 c4 [2 X. W$ pall the B,C,D,E have to go bankrupt?$ q% I, B# G% C8 I
6 s/ W1 f# c: R/ @+ o5 }, ?

$ `  n# c+ V! b# U' Z( H: Ethe multiplier just tell how much money created in a whole economy, / S, F% p$ D. S# X
in this case it doesnt really matter how much money is created,
# v, ?  t- J& R' [% R/ Uit's the problem of the debt itself.
7 k+ a8 l  }% E- X2 ?; rthe 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
2 W( x6 s8 w7 F8 H. D7 l小弟一直都唔明...
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全世界都蝕錢，咁邊個賺緊錢呢?) w( M' P. e0 N" S" i: n; D
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無可能淨係有人蝕錢無人賺架嘛...
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: Y4 V% ]: p. t0 t0 I2 W. [敬請各師兄解答
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Thanks

) b4 }6 d' T& ^7 z% {# q那些根本係 紙上財富  5 |- j. g& ]- g& i
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( L  p: e0 e3 z
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, R) w* i! Y6 F5 N  u
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# s( ]% ^5 y! e' ?) @
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
$ ]1 w2 g( F5 L5 @' Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
, n6 n& E4 c* @/ E- z3 k6 j) G" d& I計番回報率就已經係50%,所以可以好好賺
2 f9 S8 }/ u3 p- i5 H! Q前提係銀行之間要互相信任先可以咁樣借法5 |% X8 ]9 B7 M3 j, z/ l. Y* ]% X
同埋個市場既前境要係好先得
3 }0 c. G( W9 `/ n/ d4 X6 J, z但當經濟一差,公司估值趺了,物價不升反趺
0 P; u; L" l1 v7 ?例如剛才說10蚊的, 趺到得番9蚊,
: h; a$ `0 W3 j$ U5 g; K咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
' E6 c: h! T+ d9 x* W所以你就會覺得D錢好似蒸發哂咁
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9 K9 v2 i/ J7 S你都可以當標野咁諗, 個樣野多人可以狂升值, 9 P% l  M) f; 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,
8 \& a# E& \2 Y. }; f; S2 Q; Z4 [! t淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, * v- ]3 e0 r# X$ s6 ]- d' Y
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 {, {, h1 O- l, j, d4 V/ e% 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
/ D* C! r5 ?/ p8 G% Z唔係d錢蒸發, 而係比美國佬洗晒未來錢, . R6 n) h  |0 J( U
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 c3 e8 [" b! V6 w4 F' 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
2 r# w1 c  T$ `# B* g* W3 [咁你話d錢蒸發左去邊? ...

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" D$ e7 `9 ]2 H正係咁樣
! J9 Z$ [# A* r" E1 z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7 I  I7 ]) j) _) b7 ~" o0 s4 Y
分分鐘佢地唔使還錢; T9 K  ]- f2 J/ T) [

  a4 v  ]: t& [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,
# L$ A1 V0 ^0 H' C, n) }2 Z連國家都係問人借, 不停發債券, 印鈔票& V% X2 K$ ]4 x6 j& ~, `
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
! A& y8 I& T) ~4 I# A9 J4 J4 ?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 ^0 T6 {, L0 [2 A" w; m
咁而家"爆哂煲"算唔算先至係變番"正常"???

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6 L/ ^0 m# a: k. w6 e  A  J8 x其實係...
6 Z$ E' `  W. r! j/ `1 Z; j, H因為以前未生產, 先消費$ ?& L9 A; k+ f
而家就要多生產, 少消費