0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
( P, g5 m3 U& RWhy bank will sell 借據給第三者???
; `# g- K+ U! m4 P' ^! [I was so confused.....

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$ o, `' o/ U* c; X7 O$ e講到尾都係賺錢
8 X1 m1 J$ F+ [# [3 t0 Oso銀行可以不斷放款8 c6 A5 `* \$ A7 F2 y# [
美國的房貸問題散佈到全世界1 j' E4 `, {6 l& u! h, C
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mortgage loan
3 s/ \+ P- [7 W1 t2 L. ]; S0 h>conduit$ e  q' I4 Y9 V4 l0 x/ Z
>RMBS(Residential Mortgage Backed Securities)( d  C# \& f  S: X
>arranger) ~6 p8 A' B0 f2 ~, l: v# w
>CDO(Collateralized Debt Obligation)
' ~3 I  \" J& t3 }最後去到投資者

Kev

i thought it is the reason of rate of return.
& c* K/ i- Z6 b! A/ aCDs could have different ratings, AAA -> F,2 [8 E: k% W# x* [( h5 v
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 N+ O! f- E4 F9 l" b. b$ |+ g1 W6 mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
, E* m* i4 y8 ]. L% q8 m2 l9 M: M% qin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# A; v0 s7 x  r  R( U0 r; s
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ x. G# E% B# X
similar to bonds, CDs trading in the secondary market have different value at different times,
7 h5 G! I2 T( h. Fnormally the value is calculated by adding it's principle and interest.
2 `/ n4 |9 S/ o! x  X/ W# ceg. the value of the mortgage+the interests to be recieved in the future.   h& A  T) V. f4 f/ {* v1 C; r
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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7 {7 R6 H9 b& t9 uim not quite sure if the multiplier effect does really matter in this case.0 z8 f+ K4 T6 k% R" Z. b- E1 Y
in stock market, it's the demand and supply pushing the price up/downwards.
% [/ c4 A$ n& D+ {) w6 k  }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,' r& i0 O7 Q3 c1 s* s
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% K; o5 |$ S% B) W& T& b% j7 n4 Z
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. ; u) z; V% G( E: P  t9 _
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
; S  r/ I2 K' x: QRefer to last example,
* @1 n  i' o5 w5 ?that means bank A have no money because we borrow 10 dollars from bank A $ B( W9 k2 }  _
Because bank A doesnt have enough cash on hand ; r; Q5 C  `9 S* T
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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, o: n9 M& m# L3 w8 sA->B->C->D->E& v7 Y. G) ~5 ^& N4 f
so does it mean if E failed to pay D, : c' w# k* V4 y% X
all the B,C,D,E have to go bankrupt?
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/ a  c. N& J9 s5 S/ _% c! k5 Y! |( U% E6 [( J3 r
the multiplier just tell how much money created in a whole economy,
9 D  `  h) r. Q/ h+ Bin this case it doesnt really matter how much money is created,
! p8 V, A3 m' _! Mit's the problem of the debt itself.2 }: Q# P$ l& I7 n# n5 @
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.gif1 F; _" c- u' C8 G% `
小弟一直都唔明...* s# f$ V1 h% h8 z
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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...9 M; A& @3 T- _5 c9 J

) ^) b0 h7 y' ?5 _敬請各師兄解答7 E3 K& J9 s* u7 P" s
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Thanks

" r' G8 V0 }0 q那些根本係 紙上財富  4 x  x. V2 w6 c  E7 R4 s
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
9 N1 _' z" I% h! M4 J3 T( ]- Z$ U2 |當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
3 X( v3 @, a7 K0 r# P# q' R. q$ l1 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
+ E; [/ `& ^% ]- c* t個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
+ A& L& z3 A. g3 a* d- P" P扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 T6 M3 _! {  Y
計番回報率就已經係50%,所以可以好好賺' ~$ ^1 L. _% f. ^' b
前提係銀行之間要互相信任先可以咁樣借法
) @3 }, v/ W+ F2 [# d* f4 E) \% g4 x! @同埋個市場既前境要係好先得! K2 [& X0 q$ ^: j; y. v
但當經濟一差,公司估值趺了,物價不升反趺
. O; P, }1 T* z例如剛才說10蚊的, 趺到得番9蚊,
/ t5 Q" k- J5 g咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
6 Q. O, ~, j8 K8 Z所以你就會覺得D錢好似蒸發哂咁
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, m, Y' |1 {, Q3 k你都可以當標野咁諗, 個樣野多人可以狂升值, ; j5 j) O7 p+ m; 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,
  v& C% D6 m1 ?* j+ [0 y1 H淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# i- ?. g! F( a& ]% }. {; i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$ F% g# x* y. a" m+ i6 r1 {  P
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# F7 y8 y0 z. k3 w4 Q8 `! i0 g
唔係d錢蒸發, 而係比美國佬洗晒未來錢, " O. d) c& b8 S6 s$ V, j1 O3 n& I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' }5 k3 g, }4 U0 |0 A( a
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
9 n, U. c. y! z4 {咁你話d錢蒸發左去邊? ...

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正係咁樣1 a- w* @  W1 V6 g
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
& o! S& J4 ]5 b6 b: h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,% p7 y/ _+ u- ]2 g
連國家都係問人借, 不停發債券, 印鈔票/ c- z6 ~& B5 W1 }1 }
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
$ L* U+ H  S: H+ r. p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.gif5 ?; f* d: {% {+ i' W0 G' b1 n
咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...
3 w! s" v3 c4 b, h' y& Y因為以前未生產, 先消費
8 r$ Z% L0 R' o' V而家就要多生產, 少消費