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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
# H' B8 E5 i9 K- P* |# z' I3 L  pWhy bank will sell 借據給第三者???  O6 E% |) L$ D" H) Y
I was so confused.....
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) m4 z! \- i4 ]# d  D8 ]% }7 S講到尾都係賺錢
' m- Z& ]. D) |: n' r7 H- Cso銀行可以不斷放款
3 H  a7 a, ?( T! M2 E美國的房貸問題散佈到全世界+ Z4 B* l: x& g% `9 `: M8 {' P

& k! W" ?" \* d* vmortgage loan ' F# [" r& Q& ~" m; D) M2 g" [; H
>conduit2 t' M' O6 S- }% X
>RMBS(Residential Mortgage Backed Securities); M- j7 c+ ~* H6 b& B' Y2 `
>arranger, h) X0 H; y0 G6 ?; a7 T
>CDO(Collateralized Debt Obligation)% q  \: g& V0 `) }7 b
最後去到投資者
i thought it is the reason of rate of return.. F7 |1 ~3 q; v5 {, g$ Q
CDs could have different ratings, AAA -> F,; B8 n0 ?( W' B" a5 |
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 a' r( }6 r- ~; o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& _6 Z; q# S1 B5 f- a- r
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 K) y. p) V1 u1 }' K' v% B+ J
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, y7 J6 V  P' ^; y! V& F+ T/ _similar to bonds, CDs trading in the secondary market have different value at different times,
8 \- a2 u" A  V( Qnormally the value is calculated by adding it's principle and interest. . g: _$ B& \5 `! @  _' B
eg. the value of the mortgage+the interests to be recieved in the future.
2 o, I! C0 l* h8 s/ cbanks 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.  w7 u' X* q) i
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im not quite sure if the multiplier effect does really matter in this case.
* o( i* q2 \/ V" M8 \6 {& ~1 ?in stock market, it's the demand and supply pushing the price up/downwards.0 A% i+ T3 B6 P  N5 Y7 Y2 p2 ^
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 l; ^- p, u; o7 X0 e* A* r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
7 G. L3 T: d2 N: T  QThe 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.
4 b, m8 x' Y! `& Tbut the value of their assets did really drop significantly.: d/ }" B# U8 H2 ^* A
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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.gif
4 e7 l+ i, x. z& ^6 `) @  |Refer to last example,
* q0 p; T3 f8 othat means bank A have no money because we borrow 10 dollars from bank A
8 L4 l$ l1 {6 e6 y. h4 |Because bank A doesnt have enough cash on hand * t8 a& h6 m, o# j" c+ z/ Q
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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3 ?2 `* T5 M& n6 Z# cA->B->C->D->E
2 J, _0 O. d% N2 s$ T, d9 ~; z  dso does it mean if E failed to pay D, / M. e, O' y. G5 [! s/ p8 @
all the B,C,D,E have to go bankrupt?' j1 |/ {- S( X" N

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the multiplier just tell how much money created in a whole economy, 8 q& C0 J2 x8 l$ W. e0 a
in this case it doesnt really matter how much money is created,
/ f% j! W4 |# Ait's the problem of the debt itself.
( S2 ?: p& a4 qthe 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.gif6 M9 R+ m9 \: W' ^" J9 G
小弟一直都唔明...+ ], Q4 w9 @9 t) e  G; z
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全世界都蝕錢,咁邊個賺緊錢呢?4 X% Z" G8 H3 w

; @9 j- W- I+ p2 K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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0 l; f, C  X; _8 q0 a9 X( sThanks
9 |! T( M1 X" w6 q* E- G1 o那些根本係 紙上財富  
! H. W/ n& ]+ g# d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
" N3 l5 @' s7 ]1 v+ i- f+ n當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
  ]4 B$ N0 A: \. ?* 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
4 F* v; b3 ^$ O個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 b$ o+ Y; }7 ~0 ?6 e! U
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
0 r" X/ k% c: _& X# j4 P7 X9 _計番回報率就已經係50%,所以可以好好賺& s9 A$ ~& o$ Y8 o
前提係銀行之間要互相信任先可以咁樣借法
' t2 W. ^( C. Z0 R同埋個市場既前境要係好先得6 a# N/ D, @2 x# H1 j0 C
但當經濟一差,公司估值趺了,物價不升反趺' L) b5 v5 a# z9 C
例如剛才說10蚊的, 趺到得番9蚊,
# x! H6 {# L0 H" L; S8 e咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
% ^" E( @# G: w+ n, ^$ u所以你就會覺得D錢好似蒸發哂咁
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# k8 K+ n, r7 P1 N3 N你都可以當標野咁諗, 個樣野多人可以狂升值,
1 d# k, }$ F/ E; N+ Z9 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 o! l+ w+ d7 z淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
% F8 A3 e* ~7 _! m4 @3 t: 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7 G" {3 r- I' \; A1 y$ z
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& G$ v8 j4 e' N7 D5 Y, ^5 b
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
6 X" Q! D* d; j6 I$ c淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
. L$ K0 M: p9 A4 j+ N+ K9 j8 X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 A' S( i3 M  ~2 Q咁你話d錢蒸發左去邊? ...
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2 _6 l; Q2 Z% R' @: z& [1 \正係咁樣
, p& n/ u2 s  z: R3 ^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- [6 `# z$ P  v3 c; n2 h( ?
分分鐘佢地唔使還錢
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. S0 A/ r7 g  J) g# q  ~2 h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,
. C1 E1 Y8 p2 P3 f3 e3 X. f連國家都係問人借, 不停發債券, 印鈔票
  q  }! M1 W% ?: w/ a一個國家好少出口, 而又大量入口 ,反映到佢唔多生產. ]5 K  G1 z% C. ?4 `, F  T% 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
! p4 j0 z7 b# x4 D咁而家"爆哂煲"算唔算先至係變番"正常"???
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5 [0 @2 b! F. t3 j- P其實係...- `+ S, s: o6 p0 E+ F' l% [! n8 i
因為以前未生產, 先消費* j$ m6 Z  `; F) E; p9 J" ^
而家就要多生產, 少消費
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