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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.gif3 O; [: P. r5 N. ]& |
Why bank will sell 借據給第三者???
+ K% R% n" J  T$ B* o0 BI was so confused.....
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講到尾都係賺錢1 f* X' O6 ^! u0 z2 u% l
so銀行可以不斷放款
! W: M+ B( }. ?" e2 _! A3 [5 O美國的房貸問題散佈到全世界
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( Y0 X) {, B$ Y1 f7 |6 n+ T7 f3 Pmortgage loan : {) ~/ [: x+ _
>conduit
5 f1 r6 j! ]: w7 L>RMBS(Residential Mortgage Backed Securities)5 m! r% s9 A2 z1 K
>arranger6 A( l1 V0 t4 U. c0 U
>CDO(Collateralized Debt Obligation)
) V8 N4 ^" t- I0 e3 A0 e# g最後去到投資者
i thought it is the reason of rate of return.
- m9 j9 V, ]( v6 E' V4 M) ]CDs could have different ratings, AAA -> F,
+ p* ^' d" K, \3 Umore risky ones would have higher premium (interest rate) as a compensation for an investment.
: _4 T! z! Q: e& P+ rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ a* d4 u1 y* k4 Z/ J% min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 h# _8 _3 I( K5 g1 u
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( }# D/ t' ]2 u* U: I( B$ Psimilar to bonds, CDs trading in the secondary market have different value at different times,  ?8 e2 c1 ?  f/ X- [7 g
normally the value is calculated by adding it's principle and interest.
1 R( r$ Z+ _7 c; r& G' Ueg. the value of the mortgage+the interests to be recieved in the future. , a, K! G* c; g7 K+ \# X
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.- R! q" W: F" o, T  c* r

9 S4 t9 k: ^+ ^5 u& A5 U4 [im not quite sure if the multiplier effect does really matter in this case.9 y- d% I6 B6 v* O; @: ^5 t; F, V
in stock market, it's the demand and supply pushing the price up/downwards.
) N) D* c" }$ c4 XFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& T) D* y9 R+ K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 J2 ]6 M$ V+ x1 O! z7 L+ X$ EThe 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. " N5 @" t) z9 m6 ~" ^+ r# u
but the value of their assets did really drop significantly.5 w! t. a3 Z' V
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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) w  v7 Y! s- O+ T- b! l9 z
Refer to last example,+ D: v* _7 `: T5 p1 X. Z2 q5 O
that means bank A have no money because we borrow 10 dollars from bank A
- H4 P8 c5 k+ j4 p  PBecause bank A doesnt have enough cash on hand % S2 o; v& A* Z) _/ L4 R
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E( K5 i$ q; l9 j7 l. G  o
so does it mean if E failed to pay D,
# n$ ]8 `( J/ I0 v1 b8 M1 I4 Hall the B,C,D,E have to go bankrupt?
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the multiplier just tell how much money created in a whole economy,
9 W2 c2 `& s: z  C; v/ d( hin this case it doesnt really matter how much money is created,
! D$ R7 d" j# H1 D% ?it's the problem of the debt itself.
* w* e, H4 A8 P; Q$ tthe 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
8 W" A' O* {+ \1 u% D小弟一直都唔明...# C+ O+ d, j3 q

4 r( v1 n: }) ?; M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...+ \# }/ f" `: L) `7 ~. F4 s6 R1 D

% {9 _- d5 u2 W% |敬請各師兄解答
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# b6 b( r& c0 }6 |Thanks
* K2 I7 R. c2 J2 B& l- z那些根本係 紙上財富  ; [( [: W% h0 u$ x  r3 W5 g
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* I7 K4 h5 G, g* R) Q, O4 I

6 J$ i' y: p( g  [( O- y. @http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
' M1 D) _  f& r6 K' B+ J& a當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
: F2 L5 b# `* _, _7 f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 y0 t* S6 w* t1 g
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! D, U2 b$ v8 K9 f% Y* A
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
4 O$ I. w$ ]) h: F0 M計番回報率就已經係50%,所以可以好好賺
7 x) Z, `- h- x' M, }5 T  k前提係銀行之間要互相信任先可以咁樣借法% I4 Q8 e6 y; c6 I; \+ T9 R
同埋個市場既前境要係好先得
' q( l" {0 Q5 }+ O但當經濟一差,公司估值趺了,物價不升反趺! v) {& f0 M, E/ y" ^
例如剛才說10蚊的, 趺到得番9蚊, . O' B' ]! j& W& u5 y- l8 t
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%1 k, O+ E/ G0 ]" n3 [- N% V
所以你就會覺得D錢好似蒸發哂咁
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/ s8 F; g- W: p你都可以當標野咁諗, 個樣野多人可以狂升值,
  w1 Q8 F/ ?; ]1 z6 F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,
. E! P: c" a, U  v1 v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 0 s" ]& m2 I, V
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
3 x) k/ t; o2 v6 J% U. x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
  P1 U# x0 o( F. ?- |0 c6 l$ \唔係d錢蒸發, 而係比美國佬洗晒未來錢,
% L; r9 E$ D9 ?" w% W% N( r' y淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 4 `+ n& Z' y6 e4 E9 [  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
8 V* M- i9 T% h9 D5 K咁你話d錢蒸發左去邊? ...
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正係咁樣
9 X# |9 L- b3 ]: 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& a* w, Y, j6 @1 Y9 f0 G! i: H
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,# J5 \4 ?' `9 H
連國家都係問人借, 不停發債券, 印鈔票
1 }8 R# `3 Y) L9 b% L一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; s8 ^2 A8 g1 q5 l
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
3 w. F! f4 O8 Z1 {' Q; N咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...4 C$ a7 N) ]. L! m5 I6 U
因為以前未生產, 先消費
( u* U% P: c5 k( [2 b/ R而家就要多生產, 少消費
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