0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
. q" j/ W% ~) a8 x- {# c7 ~& n* n3 hWhy bank will sell 借據給第三者???
/ ^3 x  ?. H, E' S. \( tI was so confused.....

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: J& G9 S8 g. z講到尾都係賺錢0 V" `% D9 J$ d3 L6 k9 B8 {) r' Y3 H
so銀行可以不斷放款
1 E. d: m' \3 \1 q1 G" d美國的房貸問題散佈到全世界0 e5 [% x; _8 ^: w2 j! m; P1 N0 U5 J/ e
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mortgage loan
. e2 i/ I, ?8 f, c$ |. R>conduit
: a. ~3 y( i3 C>RMBS(Residential Mortgage Backed Securities); k$ G, c3 H- l/ Z. ^- V
>arranger, g( q4 F2 \& E' n% G, Y& J7 `
>CDO(Collateralized Debt Obligation)# U. g8 u* j% J: r# {; Z" n
最後去到投資者

Kev

i thought it is the reason of rate of return.
& G9 Q. n* G, |( L! h, dCDs could have different ratings, AAA -> F,! g2 c" H  d% H% X" h
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ u& g' ?& j- |2 j2 ~0 g( ^- t/ Pmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 l# C& ?+ X. |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 w7 H5 B+ g. _4 D' z- ]" I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.  T7 U+ N! F# X2 Q
similar to bonds, CDs trading in the secondary market have different value at different times," m* o! {0 M  v- t3 _9 Y* H9 Q
normally the value is calculated by adding it's principle and interest. 5 D* s1 O1 t, R9 E7 Y; P
eg. the value of the mortgage+the interests to be recieved in the future. 3 d+ F; {/ V6 H$ M& E
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.
& ?$ D. H8 V. N6 lin stock market, it's the demand and supply pushing the price up/downwards.
* Q! [! T! k: BFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
  \* X4 ]( U* C+ _( [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.! b1 ]0 ]% O  A, @( P
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! [/ G  p. r8 J
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.gif0 s# `3 x) F: g" v! W9 Z2 K
Refer to last example,/ I" V1 E3 X" E2 `  T: o
that means bank A have no money because we borrow 10 dollars from bank A : M- j* n1 w5 y" W+ U  M, J! X
Because bank A doesnt have enough cash on hand
8 X4 {1 {1 N% y; a5 B/ a/ atherefore bank A need to be bankrrupt ??? Am I right ?? ...

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; F# p( |) U$ Z) o# P, k: {' XA->B->C->D->E, H4 k1 O3 Q4 b# p0 ?. P) ], {
so does it mean if E failed to pay D, . w. y9 q, q3 n! D5 o4 _8 U6 E
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,
% h( ^% w* o. V# Y& @in this case it doesnt really matter how much money is created,
/ ~4 ?+ I' ^, M' Yit's the problem of the debt itself.
& r' G4 `" u& N1 n+ dthe 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
( A3 _$ [/ h* f/ d5 K小弟一直都唔明...
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- A4 E, k3 O3 t5 W全世界都蝕錢，咁邊個賺緊錢呢?
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  l2 X' O! i5 N無可能淨係有人蝕錢無人賺架嘛...  s& c/ e1 I" a0 c
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敬請各師兄解答
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, m, n3 N5 G' A5 FThanks

3 @3 C7 @& E) F- h; c- y那些根本係 紙上財富  
+ D5 h' m; n; s- q+ T* O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
4 n$ _# O+ Z& S2 I, t( q; ]- ?, `當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; F5 f$ y5 _! |, ]5 W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
6 ~! \2 r6 A# E/ O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
9 B+ w) p+ ~& b7 w扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,0 Y4 ], F8 p* y1 S5 u& o! Z
計番回報率就已經係50%,所以可以好好賺7 d& Y5 P2 }5 j) Q6 V
前提係銀行之間要互相信任先可以咁樣借法
7 z& }' g8 K. M% N8 h* ]同埋個市場既前境要係好先得6 b( ~0 B& G! _
但當經濟一差,公司估值趺了,物價不升反趺
+ b, V8 V% c: I. C# c* c6 F例如剛才說10蚊的, 趺到得番9蚊,
0 x" I  M3 G) |3 Z& F1 ^咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
# [8 w3 o6 I; r) Q所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值,
6 }3 |- S, }& k8 y& ~/ V& e5 h, U7 ^# ?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,
# n  S4 ~/ _, B% i: y, H6 H" G淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 3 `" d" T) E6 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
: u: o# O  [4 C0 [! x; T0 i* C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.gif2 \; J$ [9 y8 ~, s$ h! y. }
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
( K9 o/ K0 d+ E( X9 ]. D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  s0 R6 d; [9 U2 P8 ]7 }1 D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 ~; p+ ^6 e7 \! j% `
咁你話d錢蒸發左去邊? ...

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. ^5 n& ?; |5 \& s正係咁樣
6 s9 T) A6 t% u- j& i/ 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; O0 `) d1 @8 p! `  w4 Y* N6 h' H
分分鐘佢地唔使還錢8 P( v( _2 U4 |# u

8 ~7 w) F$ `+ f! [( Y8 t1 ]9 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,; f* R1 W3 }; j2 t7 e
連國家都係問人借, 不停發債券, 印鈔票
" B' V( n* W/ [) K2 j! @5 v% f( [一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
. k8 _/ Z* x- ^0 D" d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 p# J) z/ L* _
咁而家"爆哂煲"算唔算先至係變番"正常"???

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( d7 O' S* I7 j+ s其實係...
! _. A/ A! y9 y' p; k; Q- }因為以前未生產, 先消費
4 n/ @5 w" \& \% ]1 l% \8 E: I而家就要多生產, 少消費