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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
6 v, @7 _" w8 c# [Why bank will sell 借據給第三者???
9 \  H  ^6 _& `; z  ~I was so confused.....
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; R" V. N2 t5 u. D  }  O- W講到尾都係賺錢
( k5 v" n  i$ F/ b+ J5 V1 cso銀行可以不斷放款
+ V$ o# `" W4 k% ]" ]- j) \' @* J美國的房貸問題散佈到全世界. X1 d$ Q& j4 v  M8 t' K

5 a$ m( m+ G: i. @mortgage loan 2 k" L! u9 D$ U/ V5 s1 e; l
>conduit" K# D' q, L( x. G, H
>RMBS(Residential Mortgage Backed Securities)# i# ]6 R  X8 [$ |) ?7 Z
>arranger" N! {& C, M6 e; r/ A# j
>CDO(Collateralized Debt Obligation)! J* O: c, R# H3 O
最後去到投資者
i thought it is the reason of rate of return.
8 W) c9 G3 e# H% m8 xCDs could have different ratings, AAA -> F,
1 M2 J0 C0 i6 |8 c, emore risky ones would have higher premium (interest rate) as a compensation for an investment.# I- y' n, D( h% r2 F: `2 y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- U0 n3 ]$ `+ h) r6 @0 X0 X
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 o. H" E/ @  V, p, s4 TAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% P2 A" t) h5 f! r! Q, ysimilar to bonds, CDs trading in the secondary market have different value at different times," v% h( Y' K1 o1 B0 _0 R
normally the value is calculated by adding it's principle and interest.
. r. h& p/ N# C. I$ P$ v1 o+ reg. the value of the mortgage+the interests to be recieved in the future.
8 ]6 x$ q4 _* L  nbanks 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.& f$ k% H  K$ P3 H+ X! T. T* o% ^8 }

) D( o. R; Y' c8 `9 f0 {6 Uim not quite sure if the multiplier effect does really matter in this case.
' @; j! u0 x4 K$ o6 x" p# T& `+ lin stock market, it's the demand and supply pushing the price up/downwards.
* |0 @1 C$ p7 PFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 w' `4 l9 h0 B+ [/ ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. C4 W* G5 w: m3 o4 T5 C( o
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.
9 f: d  Z, K, `but the value of their assets did really drop significantly.
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  X3 @7 @+ W. H1 H6 ^& s1 N[ 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( V+ i0 W* q& y. xRefer to last example,5 S! i3 ^) `& x) P! T
that means bank A have no money because we borrow 10 dollars from bank A
+ m) Z% Q% n. @Because bank A doesnt have enough cash on hand
/ z0 r2 `  }- s/ V7 ltherefore bank A need to be bankrrupt ??? Am I right ?? ...
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# L( T9 q, v# N( {0 l) _* AA->B->C->D->E5 v6 I" h  \& R
so does it mean if E failed to pay D,
1 U" Z# g  ?/ o  k6 F4 B8 Gall the B,C,D,E have to go bankrupt?
+ i+ f3 d& ~) a9 t2 z; h4 Q% ~5 y5 g* I7 ], Q8 T2 ?9 g

& G' d; D( r: a' q. E/ x9 Q; Uthe multiplier just tell how much money created in a whole economy, 1 z0 }3 v, w: g
in this case it doesnt really matter how much money is created,
0 j# X# ?* ]5 m2 `it's the problem of the debt itself.4 W) w; w6 d9 B. Z9 s3 Q
the 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
* x7 f+ X9 a6 |# L小弟一直都唔明...
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% n2 Y  T0 W' n# z, Q全世界都蝕錢,咁邊個賺緊錢呢?
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" D2 X: \9 y( X  @$ ~2 p無可能淨係有人蝕錢無人賺架嘛...
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, o6 G- a) c& T* Q) m! F敬請各師兄解答
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! [1 e* z; x7 z8 T5 r3 YThanks
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那些根本係 紙上財富  
6 ^7 U: e1 o8 \# W1 d4 c) k$ R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" w! Q' _: B6 P9 Y9 @! ]8 S
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高! q7 n) P+ v- ]- B3 k7 z
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  G3 K0 D0 k' t2 _; ]3 J; Q
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦9 i6 H/ a. \" F' c" E
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 R& O; Y, `3 j* J3 d
計番回報率就已經係50%,所以可以好好賺) T$ b) L$ V7 ^
前提係銀行之間要互相信任先可以咁樣借法
9 G* Q9 ?# x) u. R' x" ]% y同埋個市場既前境要係好先得& g) ]6 p7 X5 G; J$ i& G7 o
但當經濟一差,公司估值趺了,物價不升反趺
+ b! z/ _9 Z% Z- E9 I/ W例如剛才說10蚊的, 趺到得番9蚊, & U* \2 T) c% X5 o) }- @
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%# Q: E4 l; @3 h0 W- ^3 j
所以你就會覺得D錢好似蒸發哂咁# k0 ]7 o6 U2 ~" a  _; e  Y- L) h
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你都可以當標野咁諗, 個樣野多人可以狂升值, 0 t3 `# `. B# E0 [6 C! r
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,
0 z+ p# H& O/ r  ^+ A+ p$ x淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, + l) t' D; b7 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
% h4 |/ g3 [% `: Q2 G2 ~1 k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
( ^( _( [: f8 ?& k' P6 y唔係d錢蒸發, 而係比美國佬洗晒未來錢,
/ I: f6 Z. `' J7 V, `# N淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
1 t& w$ }6 j# o3 ^- N& b" c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
- \% n' ]. J! f( l4 Q3 X咁你話d錢蒸發左去邊? ...
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. x# W& _. {) \: k8 P; |正係咁樣
# S8 u* E# P) m4 k" I& N% g, c2 c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
1 @# ~  v9 Y. C2 o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,9 d$ N, X* d; X( f! ]# q
連國家都係問人借, 不停發債券, 印鈔票' J$ |; e. u2 `; r2 k
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產% |; W1 l+ q7 y7 Z" 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.gif4 X: J$ r( d' f
咁而家"爆哂煲"算唔算先至係變番"正常"???
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- V( }/ E9 s( [5 k2 G其實係...
4 P6 q4 _8 Z" b& H( V2 K$ e. l& Q因為以前未生產, 先消費8 y; I; _* l" n/ x+ U7 @
而家就要多生產, 少消費
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