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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
/ O. p7 I9 d# M* ?Why bank will sell 借據給第三者???, D" R1 A* [3 u/ [1 p: \
I was so confused.....
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. h  k/ J% [# t講到尾都係賺錢
5 d' S9 h4 c* L7 [so銀行可以不斷放款
: R. Z0 \2 t; X, K; H美國的房貸問題散佈到全世界
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mortgage loan / s$ p) Q5 S: v7 c5 E" S
>conduit% n' J7 K- g8 i9 r6 K/ O" [. a: S
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)# I$ C- w# v# P/ l1 s
最後去到投資者
i thought it is the reason of rate of return.
  M( P7 j0 c$ _# i( f6 b$ n) P; A. L: [CDs could have different ratings, AAA -> F,+ h* J. ?: \1 B' X: _7 D
more risky ones would have higher premium (interest rate) as a compensation for an investment.) G: @# x8 ~/ m7 s! D, ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 X+ U# k* ~! @6 K: B) `: _in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.  J$ W* y2 `: @2 d9 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
5 p* X5 H/ d/ X, K; g( V. fsimilar to bonds, CDs trading in the secondary market have different value at different times,, ]3 _% h$ ?( g. K6 L6 ]6 e0 @, k
normally the value is calculated by adding it's principle and interest. & @. j/ a6 M- j  M
eg. the value of the mortgage+the interests to be recieved in the future. 5 u1 ~# o$ B, Z/ Q9 k) Y+ @
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.' \( y! D4 H- U

$ B7 p5 u% ?6 |im not quite sure if the multiplier effect does really matter in this case.9 E# B& x  e- X# j" X5 P
in stock market, it's the demand and supply pushing the price up/downwards.
) b9 `9 P1 }# t3 A8 ~1 O1 qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
0 {2 ?. \, k) S) R1 y# T9 I+ sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.% i5 R# K* Y) U$ e& D
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. + |/ g) a% z2 z8 n& }2 A$ d" Y6 d
but 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.gif
' q- `. v6 j7 V' A  NRefer to last example,
7 h8 x* ]- Y3 N; h# B4 ^that means bank A have no money because we borrow 10 dollars from bank A 9 M: Y/ O$ e8 S8 x
Because bank A doesnt have enough cash on hand
; p# s5 u' ?" J( o3 ltherefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E0 k+ }: n6 b4 _  H
so does it mean if E failed to pay D,
2 y% i6 D( k- Z+ b) d: mall the B,C,D,E have to go bankrupt?  ?! I# h  h3 p4 k6 {- V2 d& |; T0 o

# a4 e( T3 R) m: |7 }  y- T8 y" e* E1 e, D
the multiplier just tell how much money created in a whole economy,
. A, G1 G4 _2 Ain this case it doesnt really matter how much money is created,
, ~! G% D& [# _3 g, Mit's the problem of the debt itself.
# S5 Z% l3 g/ [' Y# v0 Dthe 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 i. j. e: _* X3 l8 O6 i" x: p$ S
小弟一直都唔明...
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: {; b1 U4 H# A$ S1 k全世界都蝕錢,咁邊個賺緊錢呢?: P4 q1 [' K5 ~8 W* G8 |

) c1 Q3 k3 v' p  C9 p2 ]/ `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' }2 t, n4 R" L  {( _1 Y% Y

" Q0 p( C9 u; [' tThanks
  x) ?6 F) {6 o+ ]9 C那些根本係 紙上財富  5 W* K( j! u% j' i
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+ g1 m9 i# g! V3 v. C0 ^: ~) N8 R# Z

4 a! h0 g3 C5 v7 v5 ghttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
7 G0 y, f* j6 a/ w% f當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
* {! h% o  ?/ W) i2 S0 v! \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
, _* D7 b6 v* B個件物價係市場好既時候升, 例如15%先算,變左12蚊啦2 v, E& z5 c( M, ]
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,1 v2 F' I: Q4 H
計番回報率就已經係50%,所以可以好好賺
$ R! z0 Y; e/ U# s& h6 A前提係銀行之間要互相信任先可以咁樣借法/ K* N. k* C" f+ @$ p, ]
同埋個市場既前境要係好先得
" w& o* a9 z0 W  d& \: K但當經濟一差,公司估值趺了,物價不升反趺% D2 J4 p) C! y5 ~- g- ]) z
例如剛才說10蚊的, 趺到得番9蚊, ' \! ^, L' f: H/ [
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%7 M! x: m0 K: a
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,
: d; N: O% M2 }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 _2 Y" {$ `; I- _  E: v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 6 i9 n. @& u- L+ o+ v) r
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
' Z% W- b7 Z8 m# h% k' X( F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.gif9 z, v9 Q9 f$ J% I
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
& Z# A. C5 N7 L( B) V' {$ S, p5 m/ @淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, - m6 k# F( z: `, ]/ L; F
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 P2 x0 T' @; Q) `( h咁你話d錢蒸發左去邊? ...
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+ ^0 h  r. J6 X* g正係咁樣) h5 m* C9 D$ q' W- t
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" ?5 H5 D% Y% c* P/ S
分分鐘佢地唔使還錢
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! k+ {% g+ E: T" c" Z# O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,
5 L6 t( B+ H6 N* g% ^# ~連國家都係問人借, 不停發債券, 印鈔票3 S" x3 ^, A/ ~
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; V, ^- I1 S! Z6 A7 Q. r( l! R
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$ T4 g- Y0 B. [/ c; y( @" R
咁而家"爆哂煲"算唔算先至係變番"正常"???
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2 f% q/ O; l& I& e& f其實係...
/ S( r+ C% B4 [) y: d8 l因為以前未生產, 先消費
' h) [  ~* |5 X而家就要多生產, 少消費
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