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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
$ L/ G8 q2 [* t: |! u5 JWhy bank will sell 借據給第三者???
7 k" k& T  p* p2 K5 M7 \* HI was so confused.....
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  G2 k% H8 }+ H( j$ l講到尾都係賺錢
' r+ W" B4 o; M! c4 qso銀行可以不斷放款4 K0 d; L) J# M5 C# N6 P
美國的房貸問題散佈到全世界
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mortgage loan
9 |6 j2 z4 M0 N% k% m/ h>conduit, |# F; B& W6 \8 {0 c
>RMBS(Residential Mortgage Backed Securities)
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>CDO(Collateralized Debt Obligation)- a9 z$ B  I( k! e" C/ p( ]3 y
最後去到投資者
i thought it is the reason of rate of return.
) `7 E  ]2 ]  m, ^- ^CDs could have different ratings, AAA -> F,5 d( M" P( l. A2 p5 M* ?/ q9 u
more risky ones would have higher premium (interest rate) as a compensation for an investment.3 [. r  [; ?* W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return," p' g+ ?6 i/ Y
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ G7 k# E. h6 F
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 D) w! v7 T4 c: I4 `
similar to bonds, CDs trading in the secondary market have different value at different times,
. }, o( G7 [! d% G( p6 qnormally the value is calculated by adding it's principle and interest.
" w, S+ E& @( W3 H! m* ^eg. the value of the mortgage+the interests to be recieved in the future. / L3 J  _8 R" P2 b2 Y+ Q6 @
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.5 ]2 p1 I% o6 q  \6 x
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im not quite sure if the multiplier effect does really matter in this case.$ Z8 M6 G) e' c
in stock market, it's the demand and supply pushing the price up/downwards.5 y7 u1 e) K; O! D$ \, H2 T) G/ T
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,6 c# m. I" a& D
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 }+ J; u. Q8 V, }2 \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.
1 A9 h, d1 e" {1 n3 K! T* |but the value of their assets did really drop significantly." u9 Z1 y$ N. z/ A5 w0 g5 @
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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; q0 D! |* T9 a' e& P. g
Refer to last example,
  `3 o8 l/ x7 ?- jthat means bank A have no money because we borrow 10 dollars from bank A
6 K5 X" L% U& U; A! M( r. kBecause bank A doesnt have enough cash on hand
5 x# S$ @0 m8 T: k" F- a0 ?therefore bank A need to be bankrrupt ??? Am I right ?? ...
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: t- _& k( f9 q/ G  [6 u# QA->B->C->D->E
$ g2 ]. x3 T* U# v) yso does it mean if E failed to pay D, 5 i2 t8 \" c5 H; ~$ |! i
all the B,C,D,E have to go bankrupt?
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% O! p- ~  S! h4 x) k% Fthe multiplier just tell how much money created in a whole economy, ; @! X* i! |8 D" E. S0 Y
in this case it doesnt really matter how much money is created,   C$ z  k, y; W# y
it's the problem of the debt itself.* R6 e. t2 y. F3 q5 N
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( u* G! b+ i; K# D
小弟一直都唔明...0 r( o6 V/ A0 ^9 X4 h
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全世界都蝕錢,咁邊個賺緊錢呢?7 V* v" ~. l' N& M  O/ q( F0 ^

: \2 e8 C& }4 Z# R4 a無可能淨係有人蝕錢無人賺架嘛...; q. I3 a) f% A2 l( c5 \
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敬請各師兄解答
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Thanks
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那些根本係 紙上財富  
( T1 e+ ?0 u0 O, e! q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# N5 n4 ~: ?$ @# C) c
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
; k- a% m$ U2 j+ h  F5 T+ ^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: c& N' o" `6 \5 H4 _
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
. }8 {: Z2 ]0 Y. ~) x2 X2 t; I扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
" ~8 ^+ d0 f! \, @7 Y0 H) \計番回報率就已經係50%,所以可以好好賺) a3 h& r- p- }
前提係銀行之間要互相信任先可以咁樣借法: D9 ^3 R) h/ g8 j7 X7 ?! r0 a
同埋個市場既前境要係好先得' k1 _4 ?( j$ R( \2 Z2 O
但當經濟一差,公司估值趺了,物價不升反趺
9 y/ {- X4 {/ S% M  b# I% W) [例如剛才說10蚊的, 趺到得番9蚊, 8 d; g8 v, W! E! \8 G! a5 `+ L
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
2 f8 l5 S/ b7 R6 i4 |所以你就會覺得D錢好似蒸發哂咁' [* Z6 _: ]0 Y4 d
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你都可以當標野咁諗, 個樣野多人可以狂升值, 3 Q% {% R% s+ n+ M
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, 4 O6 R( H4 t2 v3 O  p8 \8 o! q! i) ~! i: ^
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, 1 K  S" Y2 d9 f0 J# |9 l
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3 U: D1 W2 c' 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! T* E2 a- I+ P: P) Z" Q( B
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ; b* U. }6 o8 s8 A1 I2 ~9 K  k
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
" v+ |/ P. ^0 Y! ]; R/ c3 E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3 _( m& ~- T3 q
咁你話d錢蒸發左去邊? ...
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正係咁樣) |" T  A4 X/ N4 Q' t. n# d
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. M! s; a) }1 q& W  x& C
分分鐘佢地唔使還錢, O4 i  I* f5 `+ B' A6 p

% y) C3 v: c* O6 |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,4 L/ v( I6 y6 ~6 ^1 V
連國家都係問人借, 不停發債券, 印鈔票
/ I! J* v3 v, s一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; w  B: [3 [& 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.gif, |* f! t& f' [1 h0 e8 T' q
咁而家"爆哂煲"算唔算先至係變番"正常"???
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2 s6 j" x) Y5 Q' c8 c其實係...; c8 `5 s+ l# Z" f! a1 z" C
因為以前未生產, 先消費
- r" f; m  [: z6 d而家就要多生產, 少消費
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