0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif2 ^1 _/ f1 F" L6 u7 ^* o
Why bank will sell 借據給第三者???. e' M- ]2 m8 d/ H8 G9 `& F& ]1 G: c  u+ U
I was so confused.....

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9 f3 _2 Y2 ?5 @& m8 j) R2 h講到尾都係賺錢
! r9 U* P, p; x# dso銀行可以不斷放款; r: X& ~8 ~1 O
美國的房貸問題散佈到全世界( s2 b* E8 y5 G5 P: N% k4 G

2 O9 z" ?- o! ^' i$ Kmortgage loan
  g% V0 A/ g( X>conduit" {# T  X) E9 Q. Y0 v! ]
>RMBS(Residential Mortgage Backed Securities): ~# V( I- v3 ]* P0 j
>arranger  V' i. d+ [: s1 A5 m1 R5 g0 o
>CDO(Collateralized Debt Obligation)4 M7 {. T8 S3 _$ p  w
最後去到投資者

Kev

i thought it is the reason of rate of return.
1 B7 o- k. p- l5 Q. lCDs could have different ratings, AAA -> F,# g7 p& O. V6 n# ^. O2 ~( Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( @  z7 S) H  H4 @; ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ c  y/ U* V: d3 _4 J9 S  Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; S4 K- J; W3 C+ |4 G4 Z4 P3 s# MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, i4 ?* b+ M6 j4 M. g* rsimilar to bonds, CDs trading in the secondary market have different value at different times,
: [8 J* f7 F0 xnormally the value is calculated by adding it's principle and interest. / b, I# ^( t  n4 V( d
eg. the value of the mortgage+the interests to be recieved in the future. . s; M( m/ O6 [, y  W" P3 `
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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im not quite sure if the multiplier effect does really matter in this case.
% ~" e/ @1 K% d2 ?, {, c, vin stock market, it's the demand and supply pushing the price up/downwards.) Q) _/ I% C  |4 |! D0 i
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 Y8 `4 @6 S' O$ S) Q3 wA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ J' e+ N/ T+ }  N! T3 C; P# ~, Q) a
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. 1 U8 l: Y6 Q  y; v$ l: H1 A
but the value of their assets did really drop significantly.9 W) V6 t5 f$ Z5 b# y' q

  H/ o3 L& s1 g[ 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
) F8 o! E# K6 X6 B/ n$ _Refer to last example,
2 V  h7 I; g' Y- T8 F- `that means bank A have no money because we borrow 10 dollars from bank A
9 ^: w" B) j: V+ k' V: |' zBecause bank A doesnt have enough cash on hand
) O7 m9 V& j8 Ptherefore bank A need to be bankrrupt ??? Am I right ?? ...

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2 U9 V# A6 _4 B+ M" I) m# Z2 V$ o7 r- RA->B->C->D->E, G0 f  \3 p) H
so does it mean if E failed to pay D,
! l' o7 X2 _' [1 J: Sall the B,C,D,E have to go bankrupt?' y* E* ?( m/ N# a' |9 Q
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the multiplier just tell how much money created in a whole economy, " g# Q9 R# A- [9 K* R2 H( ^6 h4 i' b
in this case it doesnt really matter how much money is created,
2 J+ s3 X( r. M4 s) sit's the problem of the debt itself.4 @5 X3 u, i1 g: n9 p4 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.gif
% x% q2 v0 f! V  z$ E  l小弟一直都唔明...9 @  n5 x9 j  _1 w- h

! d& Q) v( q8 d7 z% h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...* J$ y9 p+ m' u) `
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敬請各師兄解答
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# Y9 O0 Z' n1 ]4 l/ fThanks

5 o! T. }, F- N  M, k4 t1 G+ G那些根本係 紙上財富  
! e( r" P# L0 G  @7 N% G4 p8 {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$ t, r# Q! z" p6 u4 K

& e& y. y6 x  Ehttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產
( i% G, v' h; a) L" i% b當經濟好,投資銀行相信會賺錢, 物價既估值相對較高& n8 a& g* Z: l$ P
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
& N' o+ m1 {; G0 ~0 h個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! ^2 t* O9 J( u: F! b/ Q% j/ o* h: h
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% E" p- i6 ~9 ~5 u計番回報率就已經係50%,所以可以好好賺: X9 h; z/ ]  x. W1 e
前提係銀行之間要互相信任先可以咁樣借法
+ H" C! l- ?2 {- k7 Y, w/ O/ z8 d同埋個市場既前境要係好先得
2 K( U0 k5 w& [% ^0 X& }( b' S! P但當經濟一差,公司估值趺了,物價不升反趺- k2 D5 _( c& J0 a& s
例如剛才說10蚊的, 趺到得番9蚊, : W( h, o% D5 O$ `7 o7 I
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 w" X: C; {# f1 }  d+ h! L
所以你就會覺得D錢好似蒸發哂咁' F& n" D* i# I
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你都可以當標野咁諗, 個樣野多人可以狂升值,
# L# Q2 F" Z3 P! 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,
7 g+ s0 S% E6 S5 w+ Y* _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " w- G' q( J6 j' g: a6 D- c; 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
: c2 z4 T! @8 K9 |7 b# 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' F6 ?3 U# R4 I( ]2 [7 @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
4 w  _2 K- w( {! ]6 B6 a淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ p. v7 M7 P6 t* @& e, E. Q9 Q9 J4 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' T4 j& P) `" \* X/ x
咁你話d錢蒸發左去邊? ...

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正係咁樣$ d+ \5 g7 [0 [  d0 {
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
4 W9 u" Z! ?1 d& {' o; M" {' X分分鐘佢地唔使還錢
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8 r% }" U) z& k+ F& k& h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," B* a& }4 \4 S. ^, r* v
連國家都係問人借, 不停發債券, 印鈔票
2 y+ ^7 |' w8 l& I( E7 h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
: @0 g) U- b- S- {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
$ M( O- }3 B5 c5 ?9 S+ t! {$ ]咁而家"爆哂煲"算唔算先至係變番"正常"???

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0 ^- }7 K9 @" G* V* l2 C# W其實係..." {2 D5 r' J' _2 D2 i  t
因為以前未生產, 先消費9 ?$ v$ h( y- g+ ]8 ]
而家就要多生產, 少消費