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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* ]- Q+ C( S4 Y6 t6 ?3 T( S
Why bank will sell 借據給第三者???7 s* U3 S3 w8 [6 f: Z8 c. ]' }
I was so confused.....
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講到尾都係賺錢
, @) M1 C1 g5 X; ^so銀行可以不斷放款
, }8 U* C* _, l美國的房貸問題散佈到全世界7 V4 q- K6 p# V0 k7 X
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mortgage loan
2 f" ?$ j- }0 d. c% e+ U" |>conduit4 E( h4 N; t0 a* N
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)( _+ Y. o+ z' A+ q$ |/ H& L
最後去到投資者
i thought it is the reason of rate of return.
6 A+ w0 F6 t9 x2 uCDs could have different ratings, AAA -> F,
  _4 h/ C7 c" u$ |4 A2 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.
/ \4 q% h" a2 _' h8 Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' p. ?; d) j4 d+ G
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.% C  t6 X' m! E
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ z0 r3 Z1 f. y. h
similar to bonds, CDs trading in the secondary market have different value at different times,; ?' Z1 e& ]7 u+ W) ^2 f" h6 T/ j
normally the value is calculated by adding it's principle and interest.
) G. D0 I$ U0 o  r/ t( j) u5 V- Jeg. the value of the mortgage+the interests to be recieved in the future.
6 e% C1 P. k% ^" Z& O+ |" j' 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.4 p/ X3 {7 v% H8 y! x
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im not quite sure if the multiplier effect does really matter in this case.
5 V: i4 h  d( G( ]in stock market, it's the demand and supply pushing the price up/downwards.
) v) Q4 k4 z0 O! z+ j* y+ H7 C7 ?For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- r) _: G2 C/ p) M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 V1 `1 }% y, ^; o/ @% tThe 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.
/ V; p8 a8 a" E, H3 X5 Pbut the value of their assets did really drop significantly.
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# _& ^% y8 S, i0 w+ o& s[ 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.gif2 [$ C* a1 K& h) m' O
Refer to last example,
  L( F5 W0 E9 z7 ^, [' B+ nthat means bank A have no money because we borrow 10 dollars from bank A
5 O( P" t2 {: {- R, r( ABecause bank A doesnt have enough cash on hand " Z& A6 w' q' `: \; i: A3 i2 |) D
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E
& \) Z6 W6 Y( T, Wso does it mean if E failed to pay D,   c/ P: c# h8 V
all the B,C,D,E have to go bankrupt?, C8 w0 Q' b, Z6 m* p, C% J2 J
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the multiplier just tell how much money created in a whole economy,
+ _. _6 Q% M% S& B" x! w; x% Ein this case it doesnt really matter how much money is created,
8 c! b+ c; r5 q0 J( C* nit's the problem of the debt itself.! X: ~0 J! V- {9 m8 W7 i. D, Y
the 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. j+ ~0 P- K& q7 S0 C1 y5 Z; J
小弟一直都唔明...
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% G2 g7 m" W% ~- w5 h+ L- F全世界都蝕錢,咁邊個賺緊錢呢?: e/ x: }- q7 v# Z! M4 p

: v, t% x* M$ T& v( H) k, F/ U無可能淨係有人蝕錢無人賺架嘛..." h6 J6 o& h& o/ X% M) _
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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  * ^7 u* X; {- ^- }" `  z  F+ ?
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 graphic8 q( u5 Z- H$ x8 K1 {
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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8 P8 R$ S# t' M+ r: \: p
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  O! h. Q9 b! A8 U3 U$ ?( z, |* }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
8 r1 `! N" H' k3 P' l# P$ R0 V. g2 Y) @. V個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 U3 {9 j3 A2 d/ V6 h# U扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" P- @6 l$ \% C; X: X2 z8 n& _. A計番回報率就已經係50%,所以可以好好賺5 F8 U  @. [3 Q+ P2 |
前提係銀行之間要互相信任先可以咁樣借法
3 j# P' U  R; x# u5 k0 v. w同埋個市場既前境要係好先得1 L4 E2 j% o) r$ n# h
但當經濟一差,公司估值趺了,物價不升反趺' x: B/ u9 @5 A! b) R
例如剛才說10蚊的, 趺到得番9蚊,
% P/ e- e$ y4 ]& ?! B' \咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
+ j  p% b$ T, j, l/ E5 f所以你就會覺得D錢好似蒸發哂咁
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; d" g! P3 W4 ]$ i  h: [" U) h你都可以當標野咁諗, 個樣野多人可以狂升值, - Q* Z. D7 d4 P: Q  E
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,
6 Z$ B4 X5 V3 S4 U2 ]9 t- k( S淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  X( O" [& T1 n. w7 q* O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8 }. p& o1 _$ {  v- X5 Q3 ^  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.gif
4 I2 L! i2 a2 C唔係d錢蒸發, 而係比美國佬洗晒未來錢,
8 c) o# S& m. X6 w$ U6 }淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # u5 {, j& h5 p! r  Q
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4 V! @' S( j# ~+ j) T2 G
咁你話d錢蒸發左去邊? ...
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正係咁樣' J+ M  b3 S5 A" L( m* d
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) W$ D3 O/ \5 z4 c$ @8 X: e
分分鐘佢地唔使還錢, z& F9 ^' U8 `, U' @. }
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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,
9 J( g5 ~- F6 k; p5 a# B連國家都係問人借, 不停發債券, 印鈔票1 a7 S& i0 E& t; G7 ?% i- e
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
3 N4 z1 m& ~+ `$ F. V* L" 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
0 ^, V4 ~8 ^$ D' }咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...6 f* D/ T5 B* I( t2 o4 j2 T$ \3 n
因為以前未生產, 先消費
, A$ z4 u4 }- Q而家就要多生產, 少消費
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