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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, M# T7 }6 d+ M6 ]9 M& W7 x
Why bank will sell 借據給第三者???
/ p- u9 ^7 I1 G3 w  dI was so confused.....
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, T' n, i* ]3 l" J# z3 c) Z' ~講到尾都係賺錢
, V; k$ b& H3 X3 {) T) K( Z  v5 ^so銀行可以不斷放款4 P5 u9 c" n9 ]$ r5 a
美國的房貸問題散佈到全世界" I2 ~4 Z2 I$ _' H

7 a* I2 k: p0 {. _- H/ |3 O& c& C2 Kmortgage loan % E7 ~- Q  V- X# v" t
>conduit( q1 h; u3 @4 l8 L% N: X
>RMBS(Residential Mortgage Backed Securities)
) F* k8 n; [0 g% z>arranger
% [5 [0 ?  a% U9 c! J# ~>CDO(Collateralized Debt Obligation)  {& K* |$ z- r/ I) t
最後去到投資者
i thought it is the reason of rate of return.
9 Q( G* ]& U4 V2 oCDs could have different ratings, AAA -> F,
6 x; F7 n' L6 W+ B9 Z2 pmore risky ones would have higher premium (interest rate) as a compensation for an investment.5 R: w1 _6 E6 S' ~2 g& V8 G$ ]# U; v
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 Z* R) R" v; e5 z4 n8 ]5 win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 X5 \: X* q% y7 C" n9 iAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. D0 k, Y/ q5 H+ {similar to bonds, CDs trading in the secondary market have different value at different times,
: G: J3 m7 Q4 s5 u7 t3 Bnormally the value is calculated by adding it's principle and interest. / l' _! [7 r# ^: W1 `+ Q* d
eg. the value of the mortgage+the interests to be recieved in the future. + d5 ~1 c5 H; V4 j" L; @" \, ^
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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' F7 n/ j% Z9 s" q7 T4 Fim not quite sure if the multiplier effect does really matter in this case.
0 V4 h9 C- _0 U& N! o4 K" win stock market, it's the demand and supply pushing the price up/downwards.
: j7 g3 @) Z* N2 a' |% P' {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- X, x- s, c  h: |. ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* f+ B$ g! V& W4 O' O* ?' G& ^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. , j* V. E7 ]2 {) U0 c- e# ?
but 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
$ h9 l" d. e5 i/ q# aRefer to last example,
" r/ r# Y) x* I( C0 }" Jthat means bank A have no money because we borrow 10 dollars from bank A $ C3 p" n3 r# C! h* p3 L( a
Because bank A doesnt have enough cash on hand 2 X1 }/ ^! m. s% E! s/ e
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E: \: W% ~! E# i0 \! L9 W
so does it mean if E failed to pay D, - A) h* d* e5 d+ A
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, & f: ?0 K% P; L! ^# u
in this case it doesnt really matter how much money is created, % y" O3 G& V/ a" E
it's the problem of the debt itself.+ c) w, y) ?' q4 G2 E
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.gif1 x4 M/ B$ m- K! |
小弟一直都唔明...! A$ m: B& w. `4 T# I6 N( ?
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全世界都蝕錢,咁邊個賺緊錢呢?
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% q+ I. R& g  j2 W9 P無可能淨係有人蝕錢無人賺架嘛...
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敬請各師兄解答
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Thanks
0 D+ g1 f* q. X( ~! v3 c那些根本係 紙上財富  
. d) W$ k/ z$ E' t' d7 f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  l7 Z  V3 t3 L* }$ @
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
# H9 \' A: M' O8 L3 u9 Q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/ G1 U3 c* c  y- U  r/ G9 }( P
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦! m4 i1 x6 X6 t
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,% O2 r/ N1 g+ w
計番回報率就已經係50%,所以可以好好賺
2 w. e4 b# b& U( X$ ?' u3 U; R前提係銀行之間要互相信任先可以咁樣借法
! g4 T! F) _, l' u同埋個市場既前境要係好先得
! {5 g  h8 F, {# J" ]但當經濟一差,公司估值趺了,物價不升反趺
) _) |4 Y3 |) L, l( P* N例如剛才說10蚊的, 趺到得番9蚊, & T1 r7 v; [. P- F0 c1 K% n
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%' L5 g' _/ N6 ]: l
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, 9 I3 R$ h4 T+ Y3 N3 ~% j
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, . E7 u& q; g* }! o; h
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
- K% d+ V9 f& P4 X' 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
2 r7 v2 a) {* w  g' c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
0 B9 ^. Q/ n1 p$ [9 m  M8 K$ R5 {唔係d錢蒸發, 而係比美國佬洗晒未來錢,
0 C5 b1 D4 U  i. J, |$ Q淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
/ A8 _( M& q( @6 E: O7 z% W$ n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4 W. O: L: n  r  b2 H; ]
咁你話d錢蒸發左去邊? ...
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& J8 [3 l( V0 B/ [# {正係咁樣
* H- D/ C! X( G: g/ M4 N3 ?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
5 c' _$ g+ c- E" {" p6 q5 V' C; e分分鐘佢地唔使還錢' ?; r) t7 o0 d! d! i, x# o: v' X
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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,
+ G$ {; [6 c! A: Q3 c連國家都係問人借, 不停發債券, 印鈔票% v% M9 _9 h7 H* N+ `) V
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產) e( a( \7 {: 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.gif# u' i4 G- K0 `/ d! g3 E8 n6 S
咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...
( w* b6 k) N  k9 y4 U7 N8 Q3 [3 ~因為以前未生產, 先消費
5 S/ B! `$ w, [! a* W而家就要多生產, 少消費
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