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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
. Z: \5 f) c. M8 D' f# F6 \Why bank will sell 借據給第三者???5 z8 {; ]% X3 e# O: @* M: B+ }
I was so confused.....
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講到尾都係賺錢1 x3 J0 Z/ k6 \1 ~6 B9 o0 Y1 E
so銀行可以不斷放款) C1 C) \- ]7 i3 }3 c% l8 I. }) J
美國的房貸問題散佈到全世界4 E2 |0 E" |& y. S
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mortgage loan & d2 c2 K- o* W. _' B
>conduit2 G/ M0 C5 @: y* j2 S' T
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)
- l1 O; a6 w- `( V最後去到投資者
i thought it is the reason of rate of return.& t' v+ p4 }# }6 x9 g: Y- p7 }
CDs could have different ratings, AAA -> F,$ p& b( ?2 h: T- z) K$ p
more risky ones would have higher premium (interest rate) as a compensation for an investment.
9 m1 T: W" F/ Y* }- d  D3 Zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# r# T4 `. w* m
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
5 p; B; w5 h' m1 \. M. I3 t* R. rAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., N% M+ V. N1 u4 i
similar to bonds, CDs trading in the secondary market have different value at different times,* F0 F- e0 k$ E$ g
normally the value is calculated by adding it's principle and interest.
8 t9 j5 {* p# Q1 k  o* t/ |eg. the value of the mortgage+the interests to be recieved in the future. 5 F' k6 o( X1 c7 r
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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5 ?) t3 d7 \8 Mim not quite sure if the multiplier effect does really matter in this case.
: G3 m) {. n$ ~; v# T' o/ [5 Ein stock market, it's the demand and supply pushing the price up/downwards.
# R  H% c8 u: `For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. _2 q7 B& w" N. ^& f
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: F1 Y8 h' d9 M- |% r1 {& J  YThe 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.
, V6 ~$ c. m5 ibut the value of their assets did really drop significantly.
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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.gif0 a! S! T8 k: I/ T' m
Refer to last example,
6 a+ |+ x- m( J- |; Zthat means bank A have no money because we borrow 10 dollars from bank A
- ^5 V& ~  h8 ]Because bank A doesnt have enough cash on hand
, \* Q5 i4 c1 q$ c, d- _therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E  Q4 D1 U4 b0 ^, f' |& _8 s
so does it mean if E failed to pay D,
2 r! o1 P; |0 Q5 i. m+ |* Uall the B,C,D,E have to go bankrupt?( A+ ~7 ^6 E( }" {
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the multiplier just tell how much money created in a whole economy, 0 O7 |5 R. `" z6 t& G$ N: A
in this case it doesnt really matter how much money is created, / Y. H/ G: d! p
it's the problem of the debt itself.
$ `5 a5 p' N: U+ ~1 k' j8 R2 Gthe 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
" v7 [0 y- x" W0 V/ `小弟一直都唔明...: t3 Q: h; w' _  e! q! I( h
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全世界都蝕錢,咁邊個賺緊錢呢?$ W+ s1 i2 ?8 S5 p5 Y# R, u

1 L3 ?9 E$ e5 @% a6 P無可能淨係有人蝕錢無人賺架嘛...
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6 [  r# ^6 C: S* p敬請各師兄解答6 X1 O- q) F3 z  R, u1 R
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Thanks
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那些根本係 紙上財富  
5 J2 a5 R' [+ R: h' U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" M5 T) h# y" ^* p

% I% z5 s* ]: O& rhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產# \  f* _& @9 C7 S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
6 S$ J6 n% Q. Z: E& x; w4 m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. m7 n0 L  M7 _' ~) i" J
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 |5 G2 e$ S" P; T( F: |- z
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
$ f( V) h  S2 I0 a3 q計番回報率就已經係50%,所以可以好好賺
3 {1 c& w/ z. S2 o5 c% Y8 n% \( e前提係銀行之間要互相信任先可以咁樣借法. Y% i4 @2 v+ E8 l; U' r
同埋個市場既前境要係好先得
2 ?& h  I! B+ g' h但當經濟一差,公司估值趺了,物價不升反趺; R: Y- L& ^& c( ]. X) F, K
例如剛才說10蚊的, 趺到得番9蚊,
( F! T) i1 h( X' ?/ F9 T) }咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 A6 T0 I1 w5 M所以你就會覺得D錢好似蒸發哂咁
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你都可以當標野咁諗, 個樣野多人可以狂升值, 1 M4 V8 }* ~, B/ H% d
但當冇人要既時候一蚊都唔值...中間D錢其實真係冇人話賺左~
唔係d錢蒸發, 而係比美國佬洗晒未來錢,   a. u8 G: L, C( l2 o! ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
  H, A/ j. t+ r6 B+ b. Y8 X8 w呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
4 Z$ W' i2 P( G8 y0 y* e9 P8 e, W. d咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
9 \) D" h" p* l5 u唔係d錢蒸發, 而係比美國佬洗晒未來錢, ! ?! [" m6 M! G, K5 W
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ' y' M' k' G4 W' F: y' 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
6 s/ k4 N) N: k6 c咁你話d錢蒸發左去邊? ...
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% F3 K9 _" ]; g) Y5 W: a/ f4 n4 c正係咁樣) t! f5 C! K& @8 x$ G' `
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
. Y+ C" ^# T) B. N" U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,) x* c( f. B2 j
連國家都係問人借, 不停發債券, 印鈔票
6 D6 l0 @  J! a, {' d4 c; f( c6 U一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
# W4 g& H: v8 b: ^0 P& b1 v% |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.gif4 F, k4 }$ ]/ ]
咁而家"爆哂煲"算唔算先至係變番"正常"???
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( F2 {6 ?. a: B, X其實係...* {: l$ o: C4 E( E
因為以前未生產, 先消費
  G  D" o* x# a/ h# ?1 h1 A而家就要多生產, 少消費
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