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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
$ v; J$ s- T' X4 }0 B8 Z/ w  hWhy bank will sell 借據給第三者???
+ B3 O& y/ s3 B4 J. W: m, SI was so confused.....
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+ i& d/ w; k. A: A講到尾都係賺錢5 N/ Y2 n- N$ B3 f: ^9 i! ~" I
so銀行可以不斷放款  ~3 C4 c# ?" m2 z- T
美國的房貸問題散佈到全世界5 n, x: B# D; ]6 v" A. T+ y- q
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mortgage loan ' C# O! Y% Y# W" u- p% F
>conduit* X: i  h! K+ T& F( Q/ Z
>RMBS(Residential Mortgage Backed Securities): `$ [) L# k) u- j4 [
>arranger9 S, ~- _/ l. Q; D6 f
>CDO(Collateralized Debt Obligation)
/ V; b5 n2 P5 a2 f+ d( \+ f8 h最後去到投資者
i thought it is the reason of rate of return.3 f3 Y  v2 H; n* q" U' X# I* s, l/ n
CDs could have different ratings, AAA -> F,
5 }7 w, r" n& ^/ omore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 F  {5 i0 P# vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# Y6 u- d. q& X  v  }3 Min other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
* Y0 i9 u' L1 j# w3 W0 iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' c" t/ `/ Q1 U1 d1 M5 @  f
similar to bonds, CDs trading in the secondary market have different value at different times,
/ h5 ~' y) I* c5 snormally the value is calculated by adding it's principle and interest.
6 q5 l& @  R" ceg. the value of the mortgage+the interests to be recieved in the future. . p7 q" g5 z% h* 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." d6 z* ^2 c7 }
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im not quite sure if the multiplier effect does really matter in this case.
, x$ W& m/ e" T* k+ m  `6 J+ j, Uin stock market, it's the demand and supply pushing the price up/downwards.. i. t" f( _& L9 ^# c' i" l7 P6 L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," y2 f7 @; ?) y' M7 Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) x7 J- J& |, i2 Z  jThe 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.
3 j; k! k6 J" M% o6 @- Lbut 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$ I% A9 h$ f2 R/ ~
Refer to last example,
- J0 q1 ~3 k2 R9 I  o7 Athat means bank A have no money because we borrow 10 dollars from bank A
8 z7 G4 i/ b% b) S( z- _Because bank A doesnt have enough cash on hand * u! Z* u& x4 L0 {' J2 E  _
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E- \( A) S5 e. L5 B
so does it mean if E failed to pay D, ( I" T# \$ M0 E/ T5 v
all 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, 7 Y. r! e) J0 g8 w8 L" W
in this case it doesnt really matter how much money is created, 6 [$ {4 |9 P6 D2 X1 h5 J
it's the problem of the debt itself.
3 z4 l/ i* U% v% T2 S) 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
; ]1 r# f$ d/ a) Q- F' i5 B- p2 x小弟一直都唔明...; Q  F7 ]% T6 L& Z4 ~  h5 Y5 v# v4 X

, x; \3 X2 g* o5 s5 C5 w3 O  `* o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...
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8 m5 ?- Q1 Z7 O5 S5 \! t& N敬請各師兄解答% }) `7 `! `! }7 B# R3 l# i

5 n0 t) |7 i3 pThanks
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那些根本係 紙上財富  
; R" `- [$ C# c% o! |/ W. M" r2 {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! E2 W6 q  h+ A3 `! S6 F. A- {
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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
2 B' s) K. H" |當經濟好,投資銀行相信會賺錢, 物價既估值相對較高, b2 x: r+ v7 @/ n
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
" U1 L" }, q7 o) P7 b9 B# R$ d個件物價係市場好既時候升, 例如15%先算,變左12蚊啦/ A4 T5 u( [& E( N7 W7 Z7 V) Y
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,+ R- \. R8 V9 y& a# X' i# p
計番回報率就已經係50%,所以可以好好賺% b- F, L+ z, B/ E" v4 D
前提係銀行之間要互相信任先可以咁樣借法3 O2 k5 Y  y. F2 W8 j
同埋個市場既前境要係好先得
4 w9 Z( g' ~/ B6 m/ [1 G但當經濟一差,公司估值趺了,物價不升反趺
8 B5 T, g' Y1 f) R1 D4 a例如剛才說10蚊的, 趺到得番9蚊, ) m3 T7 k; Q# {0 g) m
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%8 g8 Z1 }' E3 F
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,
" s2 Y8 B4 {/ u, q+ t. q. G6 B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, 3 s1 U- A( E/ g4 W  ?0 |
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" e7 _8 X' g6 N2 Q" N5 Q( q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 Q% \" }% a! i: O
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
! G6 S; c2 h0 g; v1 ~- X唔係d錢蒸發, 而係比美國佬洗晒未來錢,
  g2 \: A" X4 D3 G" ^+ o! v! Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
( ]6 D+ d2 o9 A9 W. t! N& h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
- Z1 Q: Y* C0 ^. u8 g0 _5 H5 b( g咁你話d錢蒸發左去邊? ...
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: [+ A# g; m1 E! z8 o- t5 ?- Z正係咁樣
7 p2 C5 x$ }9 k/ t" G. H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
8 x% \( ?5 \" n) K1 R* i分分鐘佢地唔使還錢
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: H/ R% h! R+ W4 @2 t( y& v! i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 u& J. J: {0 n9 F) w7 ?6 v連國家都係問人借, 不停發債券, 印鈔票
% N) O8 }+ C# o: K一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
) ]- w( d, Z, Z' \2 m/ l9 F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
4 F( L& [1 ^6 F% N咁而家"爆哂煲"算唔算先至係變番"正常"???
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; M+ G8 G' O' M4 N6 [# i其實係...( R% B6 U# N5 p/ |! i1 d( o  ]
因為以前未生產, 先消費
" b5 O! D' j  `4 J而家就要多生產, 少消費
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