0000001

原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif; X8 ]3 W/ U# P( P5 s( W5 l  e
Why bank will sell 借據給第三者???3 F1 U! ^  \6 c+ E+ y" e0 w
I was so confused.....

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講到尾都係賺錢. j- S% {, r0 \+ c- C. d
so銀行可以不斷放款
1 w% O  n5 t8 |2 I  Q; |- g0 [- R美國的房貸問題散佈到全世界
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mortgage loan
8 G9 `& Y) N- [>conduit0 X$ M$ a( i/ m; h
>RMBS(Residential Mortgage Backed Securities)4 k# [( M/ p& X$ h9 T8 C! V# ~. n0 `
>arranger
$ }3 Z. e! d9 t8 Z>CDO(Collateralized Debt Obligation)
& Y: d4 H. o0 f6 x) v: `; Z$ p, r最後去到投資者

Kev

i thought it is the reason of rate of return.
; I- c& K, v% g; l" j9 j: n2 CCDs could have different ratings, AAA -> F,+ Q' {5 o& b/ e9 p& o! I
more risky ones would have higher premium (interest rate) as a compensation for an investment.
: d7 _6 w& V4 I* h, f* ~7 s9 ~4 dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
8 s# b, P; Z  h; Pin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 _3 M4 ^, v0 B9 N: A4 Y2 }+ D
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.1 f0 Z% x( {' }/ q
similar to bonds, CDs trading in the secondary market have different value at different times,/ l) y% k2 R" B. `0 @2 g% w/ s
normally the value is calculated by adding it's principle and interest.
  k( U8 q1 l$ u' deg. the value of the mortgage+the interests to be recieved in the future.
  M+ z3 g) M) X8 g2 o% Z' I! Wbanks 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./ `2 p) Q0 R) v% j$ e
in stock market, it's the demand and supply pushing the price up/downwards.
8 }8 u# r; e  AFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ W% Y6 s. t$ K7 W. D2 {4 m3 QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; q& b  }: n! Y. I) G  a. X: C/ \
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. : i& ]) L. I4 I! q! {  u
but the value of their assets did really drop significantly.4 u  L5 g) [2 t! m8 I- n$ {

! a$ r1 F$ h$ U2 Q- V# ~) ^7 O[ 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
6 @4 A( `# B. ^1 [  ^- V1 KRefer to last example,1 r9 b" g" P! `9 D7 H
that means bank A have no money because we borrow 10 dollars from bank A
4 K. S4 L: \/ u3 c& w! p* T. mBecause bank A doesnt have enough cash on hand # L) h8 t; u  W, x1 k0 u4 G
therefore bank A need to be bankrrupt ??? Am I right ?? ...

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8 }! G" Z. P  w: R2 ?, `! X% FA->B->C->D->E
/ |7 M0 ~7 O& [so does it mean if E failed to pay D,
& O4 Q$ Z# p* _* l  b, L) J) ~+ g$ eall 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,
  J5 {2 o7 o+ i+ s2 C$ gin this case it doesnt really matter how much money is created,
" k3 ~$ J  e$ z9 H* x1 X- Dit's the problem of the debt itself.
# T" z7 o: t( G# `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" C" G- u5 S  o7 C; X
小弟一直都唔明...4 M( j6 m! q$ Z
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全世界都蝕錢，咁邊個賺緊錢呢?
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. X6 s. S& C$ I0 ?; L( g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
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Thanks

6 N4 L/ A8 G6 x3 x! }( Z那些根本係 紙上財富  
. \# a" a6 o4 ~) o# k1 d- E3 ^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 I7 O7 Y# v/ {. Q
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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1 Z' i( R6 ?% R* K  w- Y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  I. c; |7 w) l" t2 H/ l7 Q* `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 m  o  F# Q  O) ]' v個件物價係市場好既時候升, 例如15%先算,變左12蚊啦( g1 R* E; X. M: N8 M$ g7 k! e
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
9 |! u! ]7 }. [% P$ \計番回報率就已經係50%,所以可以好好賺7 L9 u  i; J- `
前提係銀行之間要互相信任先可以咁樣借法0 m6 i! r3 A7 d0 m. D
同埋個市場既前境要係好先得
3 v, L# o; M5 q6 m1 c7 S, D6 M但當經濟一差,公司估值趺了,物價不升反趺
, A" _9 {& F/ D& j例如剛才說10蚊的, 趺到得番9蚊, ! p3 m- o& E& f0 y: v* }0 k
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
8 U3 |3 A8 |9 z5 ~# f: o所以你就會覺得D錢好似蒸發哂咁  w2 ]6 \" I- }+ C8 C: K4 C
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你都可以當標野咁諗, 個樣野多人可以狂升值, ) Z! n" n$ @0 C+ E7 L6 F& d
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, / `, p0 \8 G( K4 X% O. t+ v& T
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
# z, W. D( C5 @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  q6 U' o) B9 l. l2 G
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
  N% ]# D( k2 f! R. W6 v1 h3 B! c唔係d錢蒸發, 而係比美國佬洗晒未來錢, + i: }+ [" Z: f% f, w/ G/ P
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / F) w# y  D+ z' {( m6 }* J4 ?+ 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
- w3 |/ C1 D. w* C咁你話d錢蒸發左去邊? ...

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: y1 }5 d# {" ?' l8 x; T正係咁樣
: x: O" ~4 D5 e) ^7 M, X. W0 t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
! M( P5 e$ V# \, k, m, A) c' ~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,' o) |  A7 l" g; u
連國家都係問人借, 不停發債券, 印鈔票# v6 m# \0 Q  Q) L! D' \' H2 F; f
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ |0 {' a- h8 ~0 b" ]0 _' V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
2 ~" R- i( @0 a" Z9 \咁而家"爆哂煲"算唔算先至係變番"正常"???

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其實係...) T" g8 ^1 }; E: g% Q  M$ [
因為以前未生產, 先消費! Y; ~8 s1 x/ j2 N
而家就要多生產, 少消費