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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/ @3 O1 m# I+ p+ F3 f( n
Why bank will sell 借據給第三者???6 |% E  X: h! v$ k' p; @
I was so confused.....
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3 Z, G" k& n# `7 B, E' S講到尾都係賺錢: ?& ~5 t! A' K0 Q7 B# N
so銀行可以不斷放款
1 Z. l4 u' L! T. C( I美國的房貸問題散佈到全世界
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mortgage loan , f! @% r: E' z  j+ a
>conduit
7 y- S! c5 ]5 G, O  ]9 U>RMBS(Residential Mortgage Backed Securities)! U$ d8 M9 N: ~+ X# x1 S7 Z
>arranger% f& z. g/ N- W
>CDO(Collateralized Debt Obligation)2 g9 }1 X$ [( h+ ]  j
最後去到投資者
i thought it is the reason of rate of return.+ T! o& F* N; ?& \
CDs could have different ratings, AAA -> F,6 t& G, J9 Q& F. y# J
more risky ones would have higher premium (interest rate) as a compensation for an investment.& ^, }# O( ?6 K; n- l$ i( ?' K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# b* Z* m0 W% \: h& z2 v: m$ Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 q3 d" Q- \6 X
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ B0 e: r" A5 L$ Z& psimilar to bonds, CDs trading in the secondary market have different value at different times,- S& D; |' u( {' h$ X! }
normally the value is calculated by adding it's principle and interest. % `& H* K8 `4 G: W* v1 a. a3 |! I
eg. the value of the mortgage+the interests to be recieved in the future. ) a9 x) A1 A: l
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.
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im not quite sure if the multiplier effect does really matter in this case.  B' K) W7 V8 c8 Y" c& E
in stock market, it's the demand and supply pushing the price up/downwards." B# k* Z' W6 l; q3 e0 W" h' c
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( ?4 W% t" V# L, r) [0 R" SA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, s$ C; R- c( L6 v; {: d* lThe 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.
, k2 L" q' S: T8 l, k9 Ibut the value of their assets did really drop significantly.
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4 J: k+ Z# {; R- R& `[ 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" Z- q; Y) |) Z* g5 v0 W0 f
Refer to last example,
2 ]* l% z- p2 _: Sthat means bank A have no money because we borrow 10 dollars from bank A # x2 Q  c& |% l3 [
Because bank A doesnt have enough cash on hand 4 [$ Z7 j1 W: L  t# h* u
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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! ^2 C% i8 ]7 ^/ M+ k# B1 gA->B->C->D->E
( w& p; _8 Z, e$ h/ vso does it mean if E failed to pay D, 7 ^, \7 M) j( Y* m- M5 f
all the B,C,D,E have to go bankrupt?
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5 X5 c  E6 o. p" v& F( D1 qthe multiplier just tell how much money created in a whole economy,
3 k. d" d  m  x" g, din this case it doesnt really matter how much money is created, , J% N3 e; [: O5 D7 f' L: s
it's the problem of the debt itself.
2 p- o5 o! B) i9 c* L, S$ Uthe 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* k4 S, J$ J" G$ U& R9 l小弟一直都唔明...8 r7 {' O& u" e* E& y4 c
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全世界都蝕錢,咁邊個賺緊錢呢?
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" }! D+ l2 F- e8 I無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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. m; e/ @3 C: Y3 |0 z3 |% g6 s1 NThanks
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那些根本係 紙上財富  
8 |$ |! E  m- {/ p* y4 Y$ n' 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
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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6 @! r. U0 g: Z0 _4 y
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
" C* E; L8 V4 q2 N5 W: l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: Q0 C. s0 I4 z* l) E# k: p
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦* {* n  V4 w! w0 ^
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 q( r) h& @; l8 V: u5 B' n計番回報率就已經係50%,所以可以好好賺' }2 t, y" r9 h# C& R$ \: L  Z6 ~
前提係銀行之間要互相信任先可以咁樣借法* j( B# |% O) |3 i6 _
同埋個市場既前境要係好先得
$ M' h5 s( S, L2 f2 M* F$ a7 _6 v- y但當經濟一差,公司估值趺了,物價不升反趺
5 T* f+ [, G5 r7 }- ]例如剛才說10蚊的, 趺到得番9蚊, 2 ^' S8 a% Q( \# Q' A8 y
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%2 c- M6 }, `: z4 t4 d
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, & f4 r, [' g' 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, ; _9 s1 W: p& r3 ~
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" ]8 r3 d: a3 B9 R& G5 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
  \" ]5 H/ `/ D1 u7 w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 U8 i1 H% m/ \: R! i# s唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 D% X9 D! |4 ?/ c1 e淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   ]4 u% L3 q4 H  [" K! P0 n$ s
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
- z2 l! L7 Z8 ^4 m" f, k& X咁你話d錢蒸發左去邊? ...
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正係咁樣
% p1 u3 O& p8 Y% p; _; ?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+ `- @4 y. a' {  ]& U4 Q分分鐘佢地唔使還錢
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6 G2 B6 }7 F5 d0 w4 D# K1 ]8 ?; @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,
; Q$ K6 c: l  G& `0 z6 v連國家都係問人借, 不停發債券, 印鈔票" y7 q8 j. d/ S+ G3 V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產0 D# s% l8 R. V( s. {
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
& i  K5 W/ p7 F- v+ ?. ?+ H咁而家"爆哂煲"算唔算先至係變番"正常"???
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: b1 P$ ^+ y: |其實係...2 {5 g0 [7 E. |. F9 }* q% W
因為以前未生產, 先消費
# @; X; C- R3 B! J而家就要多生產, 少消費
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