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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* B( L. c. B& p0 p* G' W+ jWhy bank will sell 借據給第三者???3 k5 r3 t# R' u9 e6 @
I was so confused.....
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講到尾都係賺錢
, d' s7 F( Z3 j+ l) y  ?- `) {so銀行可以不斷放款
( S$ L9 f4 u9 [) v& @  l: |- q美國的房貸問題散佈到全世界  T5 `- x$ `4 V* M/ j9 O0 U0 l
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation). b# }( `% ^% l( a7 y+ I
最後去到投資者
i thought it is the reason of rate of return.
% a# n. @. Z5 C: ~CDs could have different ratings, AAA -> F,2 Q8 ^: R2 ?/ l4 C3 g( Y$ V
more risky ones would have higher premium (interest rate) as a compensation for an investment.- \/ J$ b( x6 x; Q( _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ Q+ y1 y7 ~! U, c+ T* {in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
3 a- D4 j8 ~7 i* B2 }' Z, }Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# p  S) G8 g' G' F7 u, V) T/ N5 csimilar to bonds, CDs trading in the secondary market have different value at different times,' v' L7 d9 L2 A" u. m, C, G
normally the value is calculated by adding it's principle and interest.
+ ^7 u: w. u4 N# veg. the value of the mortgage+the interests to be recieved in the future. : ~. ]0 f; c: E1 j1 Y2 X: ?& x  ~
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.- Y) A  D0 k9 h5 x
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im not quite sure if the multiplier effect does really matter in this case.
) u" `  t* [/ r5 a" Fin stock market, it's the demand and supply pushing the price up/downwards.
# k8 J0 }6 Y3 U! M/ cFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," u8 n; r; m: g+ O' w
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.* h1 u. c. @; B' ]+ G( B5 P3 B
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. 5 s; Q2 ~- N' X
but the value of their assets did really drop significantly.) k3 s* R- v# f
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 {2 F, y8 ?% a" [& A
Refer to last example,
$ {' ]1 S' m$ _  q  @& vthat means bank A have no money because we borrow 10 dollars from bank A   w  m: I8 m+ |& S2 Q
Because bank A doesnt have enough cash on hand ( ~2 N& y# Z- M0 Q2 Q4 I& \
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E* o: s" p4 g$ K) T, H
so does it mean if E failed to pay D, 3 e, w6 ~% L; O. Q% Z: o
all the B,C,D,E have to go bankrupt?. v8 U& S# ]  \5 R) B

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the multiplier just tell how much money created in a whole economy,
. n* c! J4 m% i/ W5 fin this case it doesnt really matter how much money is created, 3 C0 u0 T# @4 \: A( {" \
it's the problem of the debt itself.
0 K- l. X6 {, rthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
3 T( M( y. A- R) B% z小弟一直都唔明...
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: h$ s0 C$ j  \9 i. L. |! h全世界都蝕錢,咁邊個賺緊錢呢?
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7 b& g: d7 O" O/ s6 t& y無可能淨係有人蝕錢無人賺架嘛...
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( R9 t" O6 a- p2 O敬請各師兄解答( i4 q' e' ]5 T, g
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Thanks
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那些根本係 紙上財富  3 x7 }; k' k, O. k5 V# n
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
with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic' X9 d1 [8 m8 _$ _

8 a+ S& m$ A5 mhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
1 h6 T+ `6 G# C9 j4 @6 q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 Y+ u6 M4 j- W7 I& I4 g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! e8 k5 G9 y, T) e/ o& y
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
& U( A5 h/ c2 |3 Y扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,2 Y; ?( T; m+ H* W: B
計番回報率就已經係50%,所以可以好好賺
- A4 b2 A, `8 s  F' f前提係銀行之間要互相信任先可以咁樣借法
  h7 R5 a$ G5 F, v+ ?$ p同埋個市場既前境要係好先得5 R1 d& @; E8 [* e% i
但當經濟一差,公司估值趺了,物價不升反趺6 {5 F' ]: b/ a% f6 l
例如剛才說10蚊的, 趺到得番9蚊,
! k! G7 c1 s/ U: w% M; k咁投資銀行一下子就要還11蚊, 一來一回變左虧200%; T8 u1 x* Z& r* Q; B% H) ]9 @6 l7 d
所以你就會覺得D錢好似蒸發哂咁3 p  B4 R* e  j/ l& n9 j8 I

" o* N. `, Z+ q: D" \你都可以當標野咁諗, 個樣野多人可以狂升值, ) G8 C) k2 C- H6 ?. C) _
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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, & B* r! q) Z) k  Z
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - R1 p9 B/ p/ 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( a" ?2 i& s9 I
咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
, ~8 D. a' ^" n6 h) k5 O唔係d錢蒸發, 而係比美國佬洗晒未來錢, / v# H  w3 k8 d9 Y  a
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 2 l5 I3 p6 Y) J- D* \# v4 q! u
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 I; T8 y8 Q1 ^: |  d
咁你話d錢蒸發左去邊? ...
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正係咁樣
  i2 J+ p; X; m* r& G. @$ H: o& x1 c# s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1 I' ~; H0 p$ T$ o7 B7 L2 q
分分鐘佢地唔使還錢" S2 a; B2 T+ {/ F

* g7 \5 m9 n: n5 i& k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,
) j5 d  P; @3 G. [0 s+ S) E連國家都係問人借, 不停發債券, 印鈔票
0 T6 N: ?3 P7 `8 K5 f9 r  ^1 R一個國家好少出口, 而又大量入口 ,反映到佢唔多生產1 A* b3 I2 E3 r5 }( N9 z/ r
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 H/ _2 m# P" p) g3 q咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
8 m4 m6 `5 W) c( I7 Z/ E6 U) d' [因為以前未生產, 先消費
# A6 K8 w! J' Q$ z& x而家就要多生產, 少消費
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