0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 h0 I8 I6 v# oWhy bank will sell 借據給第三者???$ }$ V) V5 R6 e8 p( ^9 X4 D) @% P
I was so confused.....

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講到尾都係賺錢
5 |1 D2 |+ G* }6 }. T1 `6 Yso銀行可以不斷放款+ S6 \$ D) g" \* k3 ]
美國的房貸問題散佈到全世界
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mortgage loan 4 f, q/ Z- c# [& m+ o
>conduit  p* s/ h' L/ e8 K& w& J. j
>RMBS(Residential Mortgage Backed Securities)+ V1 h! d4 O! L
>arranger! G- c9 B9 ~( o; T7 R
>CDO(Collateralized Debt Obligation)
- C( v9 ]0 y: ]4 I4 a" \3 V( R- H最後去到投資者

Kev

i thought it is the reason of rate of return.% y9 G# t1 {% O% B4 D$ _$ v- E4 e
CDs could have different ratings, AAA -> F,
7 W' a2 g2 \' q- w2 g5 J% D- Pmore risky ones would have higher premium (interest rate) as a compensation for an investment.
3 J5 j( M, E3 ^$ t* T( I" omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 |; k3 z7 G4 E& a$ Win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 M2 A/ z1 H6 L* g1 ?: F1 q4 a2 ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; {% C- u1 f1 t1 i1 H. b5 r
similar to bonds, CDs trading in the secondary market have different value at different times,1 S/ S; ~; x. L1 j
normally the value is calculated by adding it's principle and interest. 5 Z, s/ A9 ^! k
eg. the value of the mortgage+the interests to be recieved in the future. 9 q+ Q9 ~) d' C, }0 G( n
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.( F" M( w. w* j; y

6 S6 i* S: U" G! n# Eim not quite sure if the multiplier effect does really matter in this case.6 T5 v: B3 P8 S3 P7 s
in stock market, it's the demand and supply pushing the price up/downwards.$ L5 k/ i6 O& L9 d; g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 {: h8 x' K4 ~5 \$ fA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: i8 p4 X% h9 K/ g6 P4 T( F4 UThe 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.
8 |7 Q3 n, g+ Abut the value of their assets did really drop significantly.
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! C2 D! \0 w5 n/ C% C3 Y' C[ 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* \% t3 ?- u3 B3 a3 k
Refer to last example,
% ^& W6 V6 y' S% H, E* F* C& hthat means bank A have no money because we borrow 10 dollars from bank A 5 ?" d2 C7 u. F: u& n- f- ]3 s
Because bank A doesnt have enough cash on hand
: ~) D5 J# _; E  D) z0 z% p8 \, ltherefore bank A need to be bankrrupt ??? Am I right ?? ...

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# }* U& D. k! [' \A->B->C->D->E
5 |9 u6 }7 v- V  Q' P3 Vso does it mean if E failed to pay D,
: f, L$ j* U5 G6 z+ U: iall the B,C,D,E have to go bankrupt?3 Z" v- V( ^. W

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* u+ `* I! D$ F$ R$ Q5 O$ P9 j5 ?7 Tthe multiplier just tell how much money created in a whole economy, / g  T: h' }8 ~
in this case it doesnt really matter how much money is created,
2 R7 W9 Y; ~( f$ M7 D. u7 o& _it's the problem of the debt itself.
8 ]! K" e' M( V. ]  o$ {7 Fthe 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, ]! C  O8 S  W
小弟一直都唔明...
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, W2 u2 q, ^7 _1 D$ e6 @全世界都蝕錢，咁邊個賺緊錢呢?- {5 s* b# R# q

8 k" x+ V! K! z; G4 N1 [無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答- [; F+ O& l7 q0 a
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Thanks

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那些根本係 紙上財富  
+ D. T0 c9 e4 A; i! d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 graphic0 P* _3 A* L1 |

( c* y+ |5 \% yhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif

fderek

其實個D錢係你可以當係虛擬資產) o7 E: B" x8 m, A' A. O9 \/ z1 S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高) l& K8 D% T- Y. f' i. s
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
+ Q! _+ n! N7 Y5 Y/ s2 E& n: M2 M個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
3 i5 S, l1 q, g( A; i# u/ T扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,. G+ \9 @* b6 ?. N
計番回報率就已經係50%,所以可以好好賺/ E" C/ _4 p# z! N, ^. ^% D
前提係銀行之間要互相信任先可以咁樣借法
7 f  R- u4 x% k8 x, g% f* ^同埋個市場既前境要係好先得
" X9 P6 S7 x9 \' p但當經濟一差,公司估值趺了,物價不升反趺' }  W  q) ?' C+ w
例如剛才說10蚊的, 趺到得番9蚊,
5 Q9 ~; a0 O, Z咁投資銀行一下子就要還11蚊, 一來一回變左虧200%/ o2 J# W6 q% H
所以你就會覺得D錢好似蒸發哂咁6 u9 U, I! I5 y
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你都可以當標野咁諗, 個樣野多人可以狂升值, # ^. I& E, n: a% L( n
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,
! A9 x- O) v" S" r淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, " d; a0 `: E: P; M" 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8 F; e) w# @" k! D' B1 s: m
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 F& O0 C+ q' r( j2 I
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
! D7 \4 _2 T  q- F- E$ r+ o淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 n+ v! X5 L# o% |3 B! u4 {3 ?/ z, y# 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& N, R; n9 ?1 e9 W% n0 }2 |
咁你話d錢蒸發左去邊? ...

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" ^) P9 M; o! T4 d. E正係咁樣" G" `3 R" A% E$ H1 @
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, R8 x+ n. E! w. P: Z+ @
分分鐘佢地唔使還錢
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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,6 r# H% n9 e7 M
連國家都係問人借, 不停發債券, 印鈔票
3 B/ C( C9 y1 h一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
+ x' w$ ~( M( J6 i' ^& ]& R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.gif4 Q2 T; n: ?3 ]: j) [( [: c2 |
咁而家"爆哂煲"算唔算先至係變番"正常"???

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7 r$ _- T- k; K0 z8 M' C其實係...3 _: @( S2 S3 Q3 j4 l
因為以前未生產, 先消費
. {) y# c' Z* x0 b: V& J6 X1 s而家就要多生產, 少消費