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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
- f1 G( h# [9 q7 XWhy bank will sell 借據給第三者???
, T, @; ?2 d. w: zI was so confused.....
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9 N8 Y& `/ o6 A) ]" \8 U1 Z& |+ n講到尾都係賺錢9 T" ~7 B+ g' T* H$ q
so銀行可以不斷放款
$ B4 @6 ^# [! s7 t美國的房貸問題散佈到全世界
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mortgage loan " p" X: }) d. X# o* o3 e7 e
>conduit
3 p, ?# K9 c& s1 P8 p>RMBS(Residential Mortgage Backed Securities)( N, ]: T' e+ o$ _% T0 h, G! U
>arranger5 O) N9 L) D, \9 O
>CDO(Collateralized Debt Obligation)% O$ S( k( ?! ~! R
最後去到投資者
i thought it is the reason of rate of return.! r7 n. Z5 e  p1 s1 g9 ^8 t% D
CDs could have different ratings, AAA -> F,' A9 F5 G" H& _7 K7 M; P
more risky ones would have higher premium (interest rate) as a compensation for an investment.
  H* k8 w$ c8 ]/ T& rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,+ P* u* {' V" H. s8 I/ M
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.: E$ |1 w: C. l( W
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% r7 W5 ?) p/ n  U* i+ ~similar to bonds, CDs trading in the secondary market have different value at different times,9 V, e  j" K6 b/ _8 t! ~( c
normally the value is calculated by adding it's principle and interest.
  L1 |6 w7 w5 k$ z/ i; V) {' Veg. the value of the mortgage+the interests to be recieved in the future.
& a' m/ P6 [8 ]. {# ?8 ybanks 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.1 }- G9 z- R% L8 w7 x3 v4 J
in stock market, it's the demand and supply pushing the price up/downwards.
  a& f* J! O: F) W6 M$ Y1 z9 RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,( Q, @  a2 j4 G" j+ f- y' V' t# o% _
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 E& F7 ?# f1 {( V3 SThe 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.
+ s  Q6 `9 J  T. qbut the value of their assets did really drop significantly.+ o8 P1 ]2 W3 s7 L
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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
! o& ~2 Q1 z/ Q* ~( ORefer to last example,
8 T/ t* F6 n7 a, B1 \1 m6 U  q' E* gthat means bank A have no money because we borrow 10 dollars from bank A 4 Z$ `; V6 j+ K2 B! a# ?
Because bank A doesnt have enough cash on hand
0 a) y" Q, o' xtherefore bank A need to be bankrrupt ??? Am I right ?? ...
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! i) m; A. m( J& i3 n5 EA->B->C->D->E2 b# t% u$ P2 Z2 W6 M
so does it mean if E failed to pay D, ! B  M9 R3 p  Q# ^) J/ ]1 d
all the B,C,D,E have to go bankrupt?, }8 V4 c$ B& G" e! _- D
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9 j# P2 W0 S9 h" s( S- Uthe multiplier just tell how much money created in a whole economy,   e, A6 }. i5 u6 Y0 _+ }" U' J
in this case it doesnt really matter how much money is created, 7 L' h) }9 E3 F7 T. Q
it's the problem of the debt itself.$ \" d' W; o7 x  c
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$ t. l# ?- q' R: |+ W
小弟一直都唔明...
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1 ^  T2 M. o2 ^! q全世界都蝕錢,咁邊個賺緊錢呢?1 C8 y. {! J+ i9 ?! r
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無可能淨係有人蝕錢無人賺架嘛...% W% l+ r: m6 s/ E4 x) u, w( ^

* B+ G0 K4 ~: N. K0 M* }. \4 M7 O敬請各師兄解答
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Thanks
  D9 S( A: o% m' |7 s那些根本係 紙上財富  
7 p6 ~4 o" F/ f6 G9 E9 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 graphic0 d+ I+ n- W: v; p# K
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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5 D6 `4 t. [7 k7 x) V
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
% s, \4 Y4 W" @8 S( j. w$ f8 a. [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
6 R% g8 H2 i3 T  n6 b1 X個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
4 R& W& f2 l0 R扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,9 T. M2 F( X7 k7 R
計番回報率就已經係50%,所以可以好好賺
9 Z. Q* _0 r2 O+ S2 w前提係銀行之間要互相信任先可以咁樣借法
" A6 q( f; I7 r2 g3 ?) S  f* [( Q& T同埋個市場既前境要係好先得7 l8 [( S% y7 S0 o. h- n1 b
但當經濟一差,公司估值趺了,物價不升反趺: ~+ }" }* V4 l+ `4 k: x. n# D% k7 Q
例如剛才說10蚊的, 趺到得番9蚊,
/ r4 n/ i' D6 M  Q6 w8 i咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
7 z* [; L" i* I9 S% l6 r所以你就會覺得D錢好似蒸發哂咁
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' `5 n+ z. q4 J+ p7 T你都可以當標野咁諗, 個樣野多人可以狂升值, ; N7 r/ T% h- Y- a8 u- N# 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, " Q% m7 D& _% h& ]
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( X  Q/ X$ W. M% i% P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/ V/ d9 _4 i, E6 a# \( e( P
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
' }2 q4 f& A* N: P' P% o唔係d錢蒸發, 而係比美國佬洗晒未來錢,
) S' z; l' l! f/ v淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
; m4 ^  i3 x9 Z; q' b4 b3 b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 t: D' e3 a1 c1 I; i$ i) e$ n
咁你話d錢蒸發左去邊? ...
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+ F. A- G# F3 [; r正係咁樣
7 P- D! E( S" t" m: K5 \" H1 A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 c" j/ |. y5 b1 R" }# r* v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 f1 V8 u& }) D& \
連國家都係問人借, 不停發債券, 印鈔票& ?( p; R( c1 q
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
" ~# H' K) L0 [% p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
9 C( @. P* F8 g! e, l% X咁而家"爆哂煲"算唔算先至係變番"正常"???
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8 |3 M. |0 L9 {其實係.... ^6 q/ w5 N3 {( |# r& N
因為以前未生產, 先消費( @: Y  g: i" ^$ q
而家就要多生產, 少消費
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