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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
; y* n% I6 Z8 `( f1 O; _Why bank will sell 借據給第三者???
/ u4 {* o! e$ W. I7 L, rI was so confused.....
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講到尾都係賺錢, B. A  m8 {, G+ n; k
so銀行可以不斷放款
/ S; v( B9 o( |  T$ |5 n, m美國的房貸問題散佈到全世界
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# O# j, }5 o! L; Q5 F/ [- N; j( W9 @mortgage loan / S$ w* z# ?' z/ t# u) n5 \
>conduit' ~4 s- D* K! T9 q$ p
>RMBS(Residential Mortgage Backed Securities)9 [! j/ X  s+ m
>arranger9 C1 U0 R1 b+ ?5 f0 r
>CDO(Collateralized Debt Obligation)
9 w. k; S" J# W( Z0 J最後去到投資者
i thought it is the reason of rate of return.
6 O+ J* j; l7 W  T5 m$ L" }$ hCDs could have different ratings, AAA -> F,
' m* W" d  h( }- Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& o. O9 D8 ]! \! f& E# i* |main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 d* O: i) f5 q) O' Q: x$ H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 `4 W% t/ O+ U# p' @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* s: l; G' e7 ~9 X/ Z  N
similar to bonds, CDs trading in the secondary market have different value at different times,+ c. d7 Z. u( h  I" b* c* R- b/ \
normally the value is calculated by adding it's principle and interest.
2 t+ a) e. T% G6 @7 seg. the value of the mortgage+the interests to be recieved in the future.   }: \6 H  B- G! m: }
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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im not quite sure if the multiplier effect does really matter in this case.
0 O9 r7 s4 p' w3 D: K3 n5 vin stock market, it's the demand and supply pushing the price up/downwards.
  I1 B9 e# f5 y% ^) X8 C# }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% E/ n. `6 N- K" |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.5 @7 ~& ~! ]% {  `
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.
7 c. @9 p1 A3 Y; a$ p, Kbut the value of their assets did really drop significantly.
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) M5 W- F, }$ t& o+ R/ `[ 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: z7 c% P8 Y+ a/ H/ j9 m+ b
Refer to last example,
+ n2 y$ |& f& m6 ]3 Rthat means bank A have no money because we borrow 10 dollars from bank A
3 j* _+ G3 U! EBecause bank A doesnt have enough cash on hand 8 Q; z2 p1 E3 i, {
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E
* E4 a) ?/ }' _: [1 c* ~so does it mean if E failed to pay D,
0 P/ m5 S. g% t  C4 Ball the B,C,D,E have to go bankrupt?& A3 R2 I* T- z. k  c# B

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$ A4 h7 j) U5 q7 ~7 W6 Cthe multiplier just tell how much money created in a whole economy,
' o( \; y0 z5 K. y. \  I3 s4 Zin this case it doesnt really matter how much money is created,
+ A  V. S. ^) C! |/ {4 X" e$ }4 Cit's the problem of the debt itself.
$ [) o& O; Y* c/ Y  r' Nthe 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# I) a& g# l' [7 l6 c
小弟一直都唔明...
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- F8 H$ n) j7 W' s7 H6 o全世界都蝕錢,咁邊個賺緊錢呢?' N; `- v! _" |/ N4 a( |; g

+ I( R; ^/ K0 f' H無可能淨係有人蝕錢無人賺架嘛...6 E! y  e7 j& u/ h6 e, A! R2 P

1 ?/ ]/ k2 c/ Z0 ^' `敬請各師兄解答
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Thanks
: Z; A* I7 H+ N" L, O. s那些根本係 紙上財富  * O5 C4 |: s; N
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) T1 Y7 r; J* N# u3 ~( g9 q

6 Y- ]+ z! N$ v# q* {http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
$ i$ a( E4 A* x8 S* O7 c當經濟好,投資銀行相信會賺錢, 物價既估值相對較高3 G& ]7 m# Y/ L5 M0 X! u
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
( n( x1 y3 \8 r5 D8 k! e個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! r3 z" j8 I: s+ W, A7 y* U# x
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
8 ~0 b$ Y" E; H. L計番回報率就已經係50%,所以可以好好賺3 a5 Y0 R; e9 W  ^4 u# M6 i
前提係銀行之間要互相信任先可以咁樣借法6 q' F% D7 f& k/ L$ r4 {( ^( R! |7 W
同埋個市場既前境要係好先得
- Y/ [$ l; M" k% V& r- o但當經濟一差,公司估值趺了,物價不升反趺
2 A) ]# k, `3 U9 `例如剛才說10蚊的, 趺到得番9蚊,
0 f& ~* ]0 L7 o0 k, M3 Q咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
* I" h# d+ s0 C& W, l/ Z所以你就會覺得D錢好似蒸發哂咁- h# d  D1 V; ]
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你都可以當標野咁諗, 個樣野多人可以狂升值, & c; f  x! k' N# Q+ U9 C
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, , ^/ s7 H3 v* U( G  f& W, x. x
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 Z7 P, n4 }. d* T% S2 J! 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8 b$ {$ r5 V' @1 P6 ^$ |$ B# t
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.gif8 E" M: r" z# v! @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
' L" S8 V0 ?1 P" v( c! x) }( [淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
9 K3 \$ X3 b3 [8 P( K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" U& X, {7 p4 D. e- K
咁你話d錢蒸發左去邊? ...
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正係咁樣! [5 N: [& p4 B; p& X
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
' [) X  `& I; D5 k& X分分鐘佢地唔使還錢7 v( g8 t; c6 h# r8 W0 q

4 m( i! A+ c" z0 ?0 n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,0 e1 l% e- _+ s. f# @
連國家都係問人借, 不停發債券, 印鈔票3 U! P7 d+ E+ f4 q$ l; C' D  X
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產( ~3 e$ A/ z+ Q" V! G
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.gif7 a/ O$ h% m" z8 {
咁而家"爆哂煲"算唔算先至係變番"正常"???
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2 E, C% @& p) }1 K' Q2 q3 b( H, p0 _$ {其實係...1 |9 s: I4 S& }  Q# [& P
因為以前未生產, 先消費
, {; J( Y: S$ b4 C- A而家就要多生產, 少消費
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