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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: ]) w( v& ^% s/ A1 p; a3 \: ~
Why bank will sell 借據給第三者???6 B9 F& q9 f9 C( v- ~
I was so confused.....
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講到尾都係賺錢" q$ W% n1 n6 S. m
so銀行可以不斷放款6 e( _) v6 J& F7 T* ~7 f: L3 m
美國的房貸問題散佈到全世界& H0 E- B9 y, t4 ]. g

2 ?2 R5 U6 |1 ^  n9 J) Lmortgage loan
9 ~" s7 E6 T6 w4 O5 o. D>conduit; y' P  a# p! o, b, j( F7 \+ ^" @/ J
>RMBS(Residential Mortgage Backed Securities)
' A/ w# F- q1 X/ o7 i>arranger, z' g' p1 ]7 Z& Z; K, D& K3 T; w
>CDO(Collateralized Debt Obligation)
" \3 y9 H, j7 o/ V8 y最後去到投資者
i thought it is the reason of rate of return.1 f/ C3 d9 [- f$ a
CDs could have different ratings, AAA -> F,: G  T3 T1 t# A6 B
more risky ones would have higher premium (interest rate) as a compensation for an investment.$ Y/ h7 b9 r, h, L- _* S
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ h$ w8 Y! w8 E) P8 o1 K* ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 }% ^4 u2 m( [8 y7 S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
9 J% @* {' t, N, q! E4 ~9 @similar to bonds, CDs trading in the secondary market have different value at different times,
- ~: q$ v$ @0 ~4 V! nnormally the value is calculated by adding it's principle and interest.
  H! m& U- r' e4 H. t3 Y- `, [eg. the value of the mortgage+the interests to be recieved in the future. % f5 a! w% ?$ A
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.7 {+ l2 [' t5 e8 I# e/ |# M) b
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im not quite sure if the multiplier effect does really matter in this case.; e8 n2 M) A% X- e
in stock market, it's the demand and supply pushing the price up/downwards.
: t( \/ O6 B7 bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 l, C. \4 i7 [: j
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 S# n7 P& A+ ^7 [6 o+ B7 [/ t
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.
: Z! v* b! w" }, s. T' Ubut the value of their assets did really drop significantly.9 j$ V0 R+ f- T6 r6 _
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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.gif1 |9 A/ Z( {* f
Refer to last example,
5 a' c0 P& Y) f/ k1 K2 k8 t5 T4 `that means bank A have no money because we borrow 10 dollars from bank A 1 z+ m1 m7 e0 X( u; v; C8 ~. f
Because bank A doesnt have enough cash on hand
% _) f! m# M) C4 U; H8 atherefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E( S; B0 ^8 c  E7 {1 a
so does it mean if E failed to pay D, & F- M1 a4 [- j2 F
all the B,C,D,E have to go bankrupt?
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- `* K0 a- s' W$ K& n( ^# F  vthe multiplier just tell how much money created in a whole economy, ( d2 t: z4 G( A
in this case it doesnt really matter how much money is created, & R; L6 f8 w- h# `* [5 b
it's the problem of the debt itself.
; M2 @9 c& Z; wthe 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.gif6 M0 `1 q% S7 T: j
小弟一直都唔明...
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全世界都蝕錢,咁邊個賺緊錢呢?+ n% s  k) F- a& R3 R- u8 e

9 ~& ~# i* `. Z5 w) y無可能淨係有人蝕錢無人賺架嘛...5 y' R7 u1 H" l
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敬請各師兄解答/ C2 g4 Y8 x, }8 p7 \
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Thanks
7 y. ^! ~7 G# c那些根本係 紙上財富  % I0 u; b; L. k
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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其實個D錢係你可以當係虛擬資產
( b4 E0 }5 e: p1 U9 s當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
' x* R& E( t& M0 F( C; E/ F. s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  L& l2 |+ z6 o6 w/ V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
% w& Q' F: f' x& V0 a扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
7 |0 i6 L5 y. |2 N7 ^; a計番回報率就已經係50%,所以可以好好賺
) z0 g! i  f0 E4 E& v# v6 b前提係銀行之間要互相信任先可以咁樣借法
6 }( [; ]+ U0 U- G同埋個市場既前境要係好先得( Y/ W- B* J' n2 p  h0 ?5 R( N
但當經濟一差,公司估值趺了,物價不升反趺2 u, v' l4 F# j/ @
例如剛才說10蚊的, 趺到得番9蚊,
- V4 F$ L2 Y6 x; f* X3 |咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 u- @7 h5 o9 \( N& M
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,
( Y; j, i6 r- a% z, _) o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,
" k; V4 r9 \. P5 c0 \2 c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   H5 Y8 B, w; 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/ j6 `" G5 c& K. C/ r. |: d4 y9 y
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.gif9 _5 A  F2 h9 ~  b3 N: p
唔係d錢蒸發, 而係比美國佬洗晒未來錢, % I$ R/ d  K7 n
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, / `2 k- K* g( N  r, 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
6 }5 E4 ?' |! H9 H; E; T/ m咁你話d錢蒸發左去邊? ...
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正係咁樣
/ J/ T" R4 f7 E% ~! W  C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 g5 L* o; Y# X8 _5 Z- u* x分分鐘佢地唔使還錢* x$ S: X7 o7 \8 I3 j

. w' _* ~! |/ V/ q) d9 Y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,; b$ L2 D  L6 r2 g
連國家都係問人借, 不停發債券, 印鈔票6 E; X; Q8 P, u$ H
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產' i8 h: r2 j& T: n) q2 d
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, F% Q5 Q5 ?& x: R& g
咁而家"爆哂煲"算唔算先至係變番"正常"???
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- l; C5 @! X( i; Q9 w3 z9 E其實係...
6 h/ q1 k/ |; W- s. i因為以前未生產, 先消費
. A. c# Q* `) e( J) U$ x" R而家就要多生產, 少消費
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