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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. C1 Q: i1 e; Z8 ?
Why bank will sell 借據給第三者???
+ z$ k) A/ I) ^* N- zI was so confused.....
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7 e1 f# M3 j2 n' N+ X講到尾都係賺錢
& F$ U) m+ o9 `' ~so銀行可以不斷放款4 _/ T5 Q- C, ~9 Z
美國的房貸問題散佈到全世界& x; X4 }. g; ?1 `' c, K7 m
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mortgage loan
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>RMBS(Residential Mortgage Backed Securities)
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% G1 R* f. d% @  }2 q5 L>CDO(Collateralized Debt Obligation)  C5 _3 S5 w9 ^. e/ ?
最後去到投資者
i thought it is the reason of rate of return.
8 B1 y! m: N2 ZCDs could have different ratings, AAA -> F,
3 s8 @: J4 C* ?& F* u" wmore risky ones would have higher premium (interest rate) as a compensation for an investment.; V3 Z& s: @) q, j2 D, H. Z0 G. m! ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ R+ l; @+ ]) e' M! h9 H# a3 q; Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 n- F5 f# S1 e# P, N4 m' C5 \8 f. PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
2 {2 N4 x- e8 V2 X  d4 v/ d% ?0 {, lsimilar to bonds, CDs trading in the secondary market have different value at different times,
% e3 C; Q2 h2 p$ s7 ?; X# l& Nnormally the value is calculated by adding it's principle and interest.
% n, W1 v: f4 @eg. the value of the mortgage+the interests to be recieved in the future.
- ]- j6 m+ J5 P$ u2 Gbanks 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.2 R, E- z, P; s* A1 `: i) \$ h

* _" [6 H' g) E8 Q& Him not quite sure if the multiplier effect does really matter in this case.
3 c# ~/ m: O# {( g' @4 `6 @# min stock market, it's the demand and supply pushing the price up/downwards.* x) D( d" j+ \
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ s; P8 P# [; P5 [
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 c5 P1 d; G" a) Z
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.
/ P9 W' a7 A$ e* Z% Q- Mbut the value of their assets did really drop significantly.
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2 w' d& U1 C5 m; N4 k3 q: P! h8 J5 |[ 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) G) l5 }: ^/ h5 S: I
Refer to last example,
; ]0 V$ n7 o/ l1 M) G$ T, Zthat means bank A have no money because we borrow 10 dollars from bank A 8 z, u. Q; w6 I9 [2 H
Because bank A doesnt have enough cash on hand
9 t; {( Z# J$ i: g7 K3 u1 i) Q1 Htherefore bank A need to be bankrrupt ??? Am I right ?? ...
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$ }* c! k' D% V9 v& ~5 f5 s0 k+ wA->B->C->D->E
5 B; {* N/ ^8 L/ [so does it mean if E failed to pay D, ' _" w7 I, X  d
all the B,C,D,E have to go bankrupt?- J# f( Z7 X: T' ]( l/ X

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the multiplier just tell how much money created in a whole economy,
. \* q9 k% ]" a+ _' a4 Y5 ain this case it doesnt really matter how much money is created, * H* V2 t9 \% Z4 S
it's the problem of the debt itself.
* O2 Z! [/ L5 T* Y! G8 lthe 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- M2 y$ a: G8 x9 W" T
小弟一直都唔明...- L9 T7 w8 j( p* {( s
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全世界都蝕錢,咁邊個賺緊錢呢?
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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  f4 K6 {4 X% B# P
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Thanks
5 |' C! V. |# j& y  W+ ~- B那些根本係 紙上財富  : l5 q; H% u# w8 T1 ?
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# }) h8 ~6 S9 H, Q2 l8 p
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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
: @9 Q* v3 b3 U& s% Q當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  a5 Z5 Q4 v' S/ A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 h$ ^8 o* ]* D: h# w: Y; k$ e
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 E8 H% {( q7 \9 ^+ P, [
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
  y( b0 `; n/ T3 k6 @( H. B計番回報率就已經係50%,所以可以好好賺
' Z. X% q& @+ P$ q前提係銀行之間要互相信任先可以咁樣借法" t# x% C' n* j/ b* x9 K
同埋個市場既前境要係好先得# E  g5 p  `3 x  Z# {' p) g8 _! ]
但當經濟一差,公司估值趺了,物價不升反趺
# G& O" q& X  Y0 W例如剛才說10蚊的, 趺到得番9蚊,
8 L, u) G1 K8 Y; a/ R! o4 V) h咁投資銀行一下子就要還11蚊, 一來一回變左虧200%% ^! T9 Y& q; u: l
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,
: W3 u* `- f, p0 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,
4 O9 s) V: c9 `/ m& S. |淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
' ?! ~: r; m2 m, `5 W5 L  @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
# E' V6 L  V/ L1 U! C& ?; s9 B/ B. ]. H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$ a$ c7 A# `4 I
唔係d錢蒸發, 而係比美國佬洗晒未來錢, 4 W/ v/ k6 y+ ?$ n/ |6 I
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, & \2 L- \! A9 E6 a# f% w# H$ N
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
( B4 E4 K( P9 r2 [% z咁你話d錢蒸發左去邊? ...
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正係咁樣  \( Z% y: w3 u$ ^, W" x/ n! W3 O
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 m9 _  H( C% w! d: V0 e
分分鐘佢地唔使還錢  n$ k0 }) F5 [
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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,
1 ?) I4 f5 }- L5 s6 }1 c! T9 i, W連國家都係問人借, 不停發債券, 印鈔票
# r! C7 q  [% m5 g8 J一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
/ R$ K: z! \4 {7 t9 `' k3 B8 A2 U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
* Y- h: q- {! |2 z8 j咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...! K/ o! e# [$ @+ i1 m8 r1 c" O6 P
因為以前未生產, 先消費
7 n& v8 I% ~3 J: G, ?而家就要多生產, 少消費
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