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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" O9 J  Y4 _% y6 u7 g* ~9 k/ q1 z3 \4 {
Why bank will sell 借據給第三者???
; t# Y3 m/ G( F7 Q" {5 QI was so confused.....
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( {5 y# j$ ~4 v8 v# I講到尾都係賺錢
6 P- D$ E' L" @$ t1 ^: I' j7 Rso銀行可以不斷放款
5 q3 s+ k$ B- m& W, J美國的房貸問題散佈到全世界+ y; v6 l9 ?/ ^+ T  z' ~3 E, f

0 }& R- Y- S  U5 A5 rmortgage loan
# e4 E' ~# |3 }>conduit9 e+ t4 }+ ^' M4 W8 u. z
>RMBS(Residential Mortgage Backed Securities)) M' H0 n$ V7 L; p7 O! K3 y1 e
>arranger
2 t8 |" O& o4 q5 @6 b  B% Q- q% D& M0 f>CDO(Collateralized Debt Obligation)
& T  H) ]) T0 A& E( B- D最後去到投資者
i thought it is the reason of rate of return.5 L9 j" X0 [! W+ c3 S1 T; c+ O
CDs could have different ratings, AAA -> F,
: ~- _/ A) I4 a7 a/ }- fmore risky ones would have higher premium (interest rate) as a compensation for an investment.
( C8 ~* i5 Z% X9 a: Q1 Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 T7 t7 o% }0 [6 _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 j' r" |! j6 h( R6 j, }) C
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. [: g- z4 D2 q6 Z, F* W. K1 k* l, z) D
similar to bonds, CDs trading in the secondary market have different value at different times,
# N; b- ?  C0 Q& znormally the value is calculated by adding it's principle and interest.
5 A6 ~+ q- u" A* ]/ J* v2 ceg. the value of the mortgage+the interests to be recieved in the future. $ J  T( `3 N, d- R: j3 P' k
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.; b4 O& r$ i/ J! Z) i
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im not quite sure if the multiplier effect does really matter in this case.
1 n/ J9 o+ I+ X1 F. c( f6 Nin stock market, it's the demand and supply pushing the price up/downwards.6 r7 J! k5 }* Q3 c- v" t
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
6 M/ M+ ~/ T( M- l$ C: e& TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ W  x1 V% N' F1 l1 Y6 E
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.
, d& i; R6 I1 Vbut the value of their assets did really drop significantly.8 f0 G; I0 H9 B( x4 s. F

2 k4 n) E- P6 D* {4 r' J  A[ 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
4 x# ?- x% w% I* p% kRefer to last example,
5 ]: ]) F2 E5 j  {4 c8 |/ @that means bank A have no money because we borrow 10 dollars from bank A 1 P  r, g& {, r9 m  w1 Y) M- v- Q
Because bank A doesnt have enough cash on hand & G# Q/ a( J8 d! O7 }: u, G
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E8 C) l' W0 c  X( k
so does it mean if E failed to pay D, ) H4 m$ t4 h; c! I  J) M
all 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,
- V; i* _6 {  n2 f' y4 y. c* B  Rin this case it doesnt really matter how much money is created, 9 _/ l4 ^7 M( K/ x5 C" c
it's the problem of the debt itself.
" O. t1 q: e! g4 J2 ^* R! N- G6 Vthe 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.gif3 \7 K  U" r2 M/ ]9 q, @
小弟一直都唔明...8 ]# T5 }$ E5 T5 B; S
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全世界都蝕錢,咁邊個賺緊錢呢?5 O1 j! w  s) }$ ]1 K# J$ A% |
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無可能淨係有人蝕錢無人賺架嘛...
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7 F3 T1 R1 I' @9 n# H0 N敬請各師兄解答! i% M6 q9 L& }! u& k/ y
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Thanks
  V! E, ^# J6 X8 o那些根本係 紙上財富  7 q5 Z! S8 T5 v6 L8 v0 b( G+ l
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- F* W2 W2 F; e! ^  D  ^7 g0 @$ r( D9 n

# ^, v, W8 K7 ~http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產: ^+ s. Z0 o! P
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
) W. x# D+ e( K5 ~! ~$ D" ]0 {+ m; w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
# }+ S% B" R- Z. W% W1 s$ q個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
8 q+ h4 k# t2 E- Z& g& c. x# ^2 j扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 `" e! G' A7 t& `- K* N
計番回報率就已經係50%,所以可以好好賺
" y& l4 [( w9 K; n$ T前提係銀行之間要互相信任先可以咁樣借法
0 i) t) z& B) E+ Z同埋個市場既前境要係好先得$ Y0 U- [3 r" D+ K( U- _/ i, U
但當經濟一差,公司估值趺了,物價不升反趺1 ]- h. |/ W+ `- A, k
例如剛才說10蚊的, 趺到得番9蚊,
* V  s3 k1 b/ x. I- Y咁投資銀行一下子就要還11蚊, 一來一回變左虧200%5 {0 V* i" z% e. p/ t& o. N5 E4 ^; y
所以你就會覺得D錢好似蒸發哂咁: E8 z0 e3 R: }! {' }

" ]7 N7 O6 P4 |& m. U你都可以當標野咁諗, 個樣野多人可以狂升值,
" k, g& ^! o) b  _/ l& t/ N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, ' D# M+ V1 f; l0 x8 s9 h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 5 n" K( `6 r+ i' M5 T* J3 m& T2 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0 V0 \, E# G/ x  m5 q7 l9 l: q8 o
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
3 Q; H- W! J. o; n  E- p唔係d錢蒸發, 而係比美國佬洗晒未來錢, 6 p+ \6 Y/ Z8 F* m. h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
+ s; Q/ ?. I2 M( @8 [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- @+ z, Q% A6 F( P" w
咁你話d錢蒸發左去邊? ...
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正係咁樣
2 {8 R: k% n" z5 S5 V% 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) k; i+ [2 Q* J$ x! K
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,. v, e  \& n4 }
連國家都係問人借, 不停發債券, 印鈔票
% A7 C, |( i! I$ O/ t5 d4 c( I一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) L2 L) C" X9 o: Z; r' 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
! b# ~$ T, t% t咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
0 ]/ _$ q$ U# t, T3 j因為以前未生產, 先消費% _0 s' f# f2 H# E5 O3 k
而家就要多生產, 少消費
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