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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
+ T3 U# i. |2 M4 m9 ^! e/ W2 K. dWhy bank will sell 借據給第三者???0 f/ l! {6 f& f0 h# r0 ]  ~, H: j
I was so confused.....
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講到尾都係賺錢
" `. l: ~: \, h. {0 i0 n) uso銀行可以不斷放款3 T7 n4 x4 C4 L; U/ G* s- M
美國的房貸問題散佈到全世界, t. w9 A. \* e8 [# R
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mortgage loan
/ [; {1 G0 J4 t" u9 }# V/ h>conduit  {6 _% z! D8 U
>RMBS(Residential Mortgage Backed Securities)2 c" }, G" [$ y7 s4 L8 q
>arranger! J) k8 C, e0 D* z- I
>CDO(Collateralized Debt Obligation)
/ j+ W# r9 j  Q; Z* `最後去到投資者
i thought it is the reason of rate of return.
9 [- F/ p5 P: ]+ M' |CDs could have different ratings, AAA -> F,
6 A; J! h* k: U) u* I$ Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
( |2 _/ u' k# o9 Z- _5 h' Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. n2 G& ~4 Y# q' B
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., w  d: J$ b4 q, }6 D( ^- W" }
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
7 U: f& u" W$ A5 q9 u8 |6 \4 jsimilar to bonds, CDs trading in the secondary market have different value at different times,
; z1 }9 M9 M/ ]$ W! }normally the value is calculated by adding it's principle and interest. ' f) o4 \4 p$ M- w: T& x
eg. the value of the mortgage+the interests to be recieved in the future.
2 o! V! q, _$ H" ^4 fbanks 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.6 D! h  D: ]2 Y# ]; S& K5 l
in stock market, it's the demand and supply pushing the price up/downwards.
0 V/ x% G( ^4 X9 |) l% IFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! F6 O2 M5 b, a+ i, tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ G. o1 i6 E# j% a
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.
  ~1 T* N% D5 I! Ubut 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 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
  Y: d! t6 c2 ^; q& f" {6 XRefer to last example,! D; Z7 T1 j: e* j9 r
that means bank A have no money because we borrow 10 dollars from bank A - i/ p4 ]% g5 o8 \
Because bank A doesnt have enough cash on hand
7 h+ _( V+ L9 T! U$ c7 Ltherefore bank A need to be bankrrupt ??? Am I right ?? ...
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+ }' j# l6 h3 f! g* x6 pA->B->C->D->E
5 z  [" M0 h9 I* oso does it mean if E failed to pay D,
; _' b, W* r& U7 Mall 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, . R( o0 q. w) z% Y5 A0 b
in this case it doesnt really matter how much money is created, 1 n' ?6 A, r2 r, M- I
it's the problem of the debt itself.
. c. x" ]7 s/ jthe 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+ \; V4 w7 |- v4 m! u* {
小弟一直都唔明...& ]! B7 A2 Z" H4 {

, [' A& }% }2 n9 }. o全世界都蝕錢,咁邊個賺緊錢呢?
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4 q% g8 T& x; y無可能淨係有人蝕錢無人賺架嘛...$ ?2 W9 V; f6 R9 C
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敬請各師兄解答
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Thanks
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那些根本係 紙上財富  
( c) V$ r( O% h9 Z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
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http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
/ p( V) s: d$ ^0 y% A6 r當經濟好,投資銀行相信會賺錢, 物價既估值相對較高6 N9 E5 [) G& {- b
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
9 `  R7 P0 _$ b. z( c  a個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
: @3 C3 U* w7 v6 u; H/ t) H扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
/ C' ^9 v$ A) x+ G8 v- b/ `: |計番回報率就已經係50%,所以可以好好賺
; F4 Z- ?1 M3 ~; P6 ^7 w前提係銀行之間要互相信任先可以咁樣借法
, ?, y$ j5 b. Y( j同埋個市場既前境要係好先得
$ S0 Z5 z0 \) P# q3 {但當經濟一差,公司估值趺了,物價不升反趺( g% l+ x! i; N2 U
例如剛才說10蚊的, 趺到得番9蚊,
$ W6 r) e- t6 i/ P8 @4 W7 {咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
, r% W$ {% Z: h. ~5 Q所以你就會覺得D錢好似蒸發哂咁7 s$ t( s$ f" s) h& M9 T3 D

, i' P6 D2 V+ F; m$ L2 M  X  q: c你都可以當標野咁諗, 個樣野多人可以狂升值, 3 r  d5 _7 X7 v# ~3 R! l% `: 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~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% Y% w* f6 I0 O淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
, s- o; x3 H/ F( d" l7 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% D$ U. b2 k5 x" p. m' k
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# g( _7 C5 x7 d* ?: u& S4 g
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 i3 N$ m5 N3 I& b5 B1 D淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
6 O* I8 C5 y' E1 k# |2 e: Q  K" 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( t8 J( i/ n6 h9 k" m1 ]1 R
咁你話d錢蒸發左去邊? ...
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正係咁樣
2 }. O# t" G0 ?# a1 q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
2 f$ H" A8 w1 r9 q8 \分分鐘佢地唔使還錢5 ?% X" M  S( ^) @1 P

; t- ^+ {$ ]9 k% U; d; 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,9 }. v' g. S/ b6 ~  s4 c
連國家都係問人借, 不停發債券, 印鈔票+ d4 a1 J/ p5 ]6 I0 v8 u- q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產" h9 A6 b. J* g, i
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
5 u2 A" I, E3 l2 ?咁而家"爆哂煲"算唔算先至係變番"正常"???
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/ q$ Y4 z$ L. z  }+ `& @其實係...
% U8 {" G3 _  c* x- z因為以前未生產, 先消費
  j! B, R0 t, Z1 H6 v4 m而家就要多生產, 少消費
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