0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
: \1 w( h/ m) {" u" o4 M7 X" RWhy bank will sell 借據給第三者???
. x6 ^, e3 Q7 ^$ ?# Q5 u1 kI was so confused.....

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講到尾都係賺錢
  _3 _# @: H; [9 Yso銀行可以不斷放款7 _6 N! W# C2 T1 d" d, c# B. B8 {
美國的房貸問題散佈到全世界
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mortgage loan 0 V7 j, A# L& K' ^2 H
>conduit" w6 z5 R7 n( M4 F
>RMBS(Residential Mortgage Backed Securities)' A0 f: e8 q6 n; T
>arranger
+ A& B9 u* R- e" d' M" ~( ]>CDO(Collateralized Debt Obligation)
# H  _, ]; k% g- c最後去到投資者

Kev

i thought it is the reason of rate of return.9 M8 x) }. Z8 r( U
CDs could have different ratings, AAA -> F,3 Z0 ?- ~- u6 A- N: L
more risky ones would have higher premium (interest rate) as a compensation for an investment.6 ?" a7 L. r0 _. u8 u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
! U8 @8 R% W1 `# bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 [9 D, c& ~) @9 z1 w6 }
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. {& C. V0 Y$ F0 ~% _4 Q8 n& ssimilar to bonds, CDs trading in the secondary market have different value at different times,
: S" A: L7 E: Y0 U% Anormally the value is calculated by adding it's principle and interest. - U& ^/ v& N* M) h7 _
eg. the value of the mortgage+the interests to be recieved in the future.
6 [. e" \. c3 B- {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.$ |% g" v" R8 u* U; y5 d
in stock market, it's the demand and supply pushing the price up/downwards.& d6 y1 I; c9 F5 j
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,8 ?  x$ T; k. W/ V# ^+ P
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! S2 X" U. G9 b3 j3 ]* [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. 8 K3 _. u4 V5 Q' C1 ]) E0 G! j% v  d& d
but the value of their assets did really drop significantly.& x# ^' n+ e& h

$ K, A+ U) j) R$ v9 M- O0 P3 q[ 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.gif2 X1 }# @4 _. P
Refer to last example,, p; E% _4 u* ~3 V
that means bank A have no money because we borrow 10 dollars from bank A
# Z+ F+ }" G/ p) y- w9 @7 JBecause bank A doesnt have enough cash on hand
: _9 w9 @, K& b2 e* Q+ F9 {therefore bank A need to be bankrrupt ??? Am I right ?? ...

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A->B->C->D->E
3 z! ?; _$ l: ~& m+ H% \0 Lso does it mean if E failed to pay D,
# D! \& y- H9 Fall the B,C,D,E have to go bankrupt?4 G& m* y1 L; ~+ G
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" }  O3 P+ m1 H4 E/ _; mthe multiplier just tell how much money created in a whole economy,
- @! D$ M4 E; B; @! _in this case it doesnt really matter how much money is created, ' b8 c. u+ M" M. d5 v. t- D
it's the problem of the debt itself.
" ], f) I% U( e' m. Vthe 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.gif6 X! c6 C- f' g, B# d6 ^
小弟一直都唔明...
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+ K4 |+ }; F$ e- M/ m5 j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...
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$ a, j4 ]6 A. W2 T敬請各師兄解答
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Thanks

7 v! T8 k4 g+ G# v5 R9 |2 [那些根本係 紙上財富  9 J+ w9 |- o; U$ w% \
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- D. ]3 E" S3 _% a/ O9 [8 ^9 P
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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
6 D* a( h% j( ]$ h! l當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
0 l$ I8 Y2 [2 t5 [# C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
, g- v2 V. J0 t  u" J個件物價係市場好既時候升, 例如15%先算,變左12蚊啦1 }! D* P: L6 X
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,/ B* s0 @: S3 E1 i. O$ s
計番回報率就已經係50%,所以可以好好賺  W* t1 a3 J8 t5 _* _
前提係銀行之間要互相信任先可以咁樣借法
/ o9 K& w6 W9 ]4 B% L5 k; {同埋個市場既前境要係好先得0 n2 H, n' H8 b* B. K
但當經濟一差,公司估值趺了,物價不升反趺2 r& @3 p6 E# T8 `. P2 @9 }
例如剛才說10蚊的, 趺到得番9蚊, - Q6 g# ~1 Z2 ^7 x
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; U, \- }$ y6 U" ]3 C
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,
$ h& a7 Y- {& |: W, u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,
4 O% ?$ R* n2 C9 p" _' P, {& D! [, h淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - v3 X" m& z5 i, r( k3 v
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
/ z4 \& w9 H3 J5 E/ i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
/ ~0 ^& r9 ~9 u唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% {( y; ^6 h& K; M9 u淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
* m' b+ r5 r+ v% [2 I9 i; B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$ u5 m/ N8 Q/ l* Z
咁你話d錢蒸發左去邊? ...

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正係咁樣* ^% R6 E6 }! Y' ~
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 `. @* L$ t. m. r分分鐘佢地唔使還錢# k7 v* `! h" q: L8 T

( f5 m8 B7 _0 R( p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,
- t% p$ z! [0 X% D, M8 {連國家都係問人借, 不停發債券, 印鈔票
5 [+ d8 Q  S: L  C* J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產3 R# j- W+ Q0 n7 C2 t
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
  i% E% w. W! N3 y  s: U咁而家"爆哂煲"算唔算先至係變番"正常"???

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5 C3 I: G( Q' V% Y其實係...
+ ]; f: c# w0 q' {% N因為以前未生產, 先消費
4 Z0 d3 ?: y$ I3 v9 {- |4 u而家就要多生產, 少消費