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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
) m6 N/ F/ Z! q( S0 R/ D0 nWhy bank will sell 借據給第三者???0 z% N  A& k/ @$ R
I was so confused.....
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: M. \( n. F8 B$ q* S' g6 O講到尾都係賺錢9 d! S  X4 r! u8 n: Y
so銀行可以不斷放款
- ^% c# d7 U7 L* b8 c4 P9 R4 y" O% q美國的房貸問題散佈到全世界1 M& V! i7 q/ A- p! O

$ Y: L7 \! S0 C% l; hmortgage loan . ~; _) c, Q/ i5 W" z2 w" ^! e
>conduit0 z$ a1 C" Q! o+ ^0 |* {
>RMBS(Residential Mortgage Backed Securities)
8 d4 d# ?* R$ ?7 ~" ]>arranger
0 Q3 V- B0 P5 f+ q1 C$ a>CDO(Collateralized Debt Obligation). D2 ^3 T8 [/ a# b
最後去到投資者
i thought it is the reason of rate of return.; D& C. |0 R5 P( q/ ]# |2 y
CDs could have different ratings, AAA -> F,+ J; _/ z: D+ `  b5 l5 l0 ]
more risky ones would have higher premium (interest rate) as a compensation for an investment.
; L6 Q# X# H" O, l1 kmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ @. V- ~3 t  m) u4 b& j% `in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities., `3 ]) l: o2 O/ v; z8 y8 p& R  a
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., L9 w# b. _6 b, e
similar to bonds, CDs trading in the secondary market have different value at different times,
* u9 p" ~2 L% E+ s: [. |normally the value is calculated by adding it's principle and interest.
: t0 z( ~: d3 Keg. the value of the mortgage+the interests to be recieved in the future. 5 A# r6 O1 m& H: Y; U6 Y
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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2 P! E* H5 D+ b0 S+ Cim not quite sure if the multiplier effect does really matter in this case.
) G9 M, N7 e. Q; |in stock market, it's the demand and supply pushing the price up/downwards.+ O$ o' O2 }3 B8 C) h* A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,3 E/ v* H% e. u- Z% {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& x/ }- u) @8 ^1 |) W+ B
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. " x2 X! P. G3 Q7 d! q% k
but the value of their assets did really drop significantly.+ q8 o. M' h1 U7 i9 i. s0 L

6 f5 H9 C" i  U/ m6 X[ 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* O5 \$ `( V) r& @( |
Refer to last example,8 @4 O: b; z' O; K/ b' D
that means bank A have no money because we borrow 10 dollars from bank A * p! e3 y. s2 r4 L- r
Because bank A doesnt have enough cash on hand
1 C, ]% y# I+ g, ]2 r+ Ctherefore bank A need to be bankrrupt ??? Am I right ?? ...
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A->B->C->D->E
2 l+ H: k% w7 U4 U1 v% B) Uso does it mean if E failed to pay D,
7 O# G/ X5 d; K4 o+ c. o7 U9 q% z% Fall the B,C,D,E have to go bankrupt?# \  K( F& w- A1 H$ q6 k6 h6 u% J; [
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the multiplier just tell how much money created in a whole economy, ' J9 }3 `% c9 [
in this case it doesnt really matter how much money is created,
! l7 [& d* o& H  @it's the problem of the debt itself.
  ^4 @* E, [/ S, B# V' Rthe 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
6 I0 k( Q2 F7 H& y4 Y5 A( F小弟一直都唔明...
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. K) \2 q5 I, F) M; i全世界都蝕錢,咁邊個賺緊錢呢?
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1 _: ~4 g  }" c% G4 D0 {4 d無可能淨係有人蝕錢無人賺架嘛...9 T' E. s$ H" Z
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敬請各師兄解答
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, V* c, N5 ~  @/ GThanks
. F2 z" _; a; {' |+ f7 t5 ]
那些根本係 紙上財富  
& k5 a( \+ ~& j# Z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 graphic3 k! C/ y& \0 ^+ b/ R. z9 \

7 I8 j8 R& v2 `2 W$ qhttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產( {' y) N' `5 L+ L
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高
- Z  |( r8 w& n7 L$ z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
( j" l1 `' W9 {6 N  F個件物價係市場好既時候升, 例如15%先算,變左12蚊啦# U: f7 \, v7 [- [7 r
扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,' z+ g/ ^- }0 J6 m
計番回報率就已經係50%,所以可以好好賺
" [) R2 S4 R  ]8 y前提係銀行之間要互相信任先可以咁樣借法. d( V+ v, `& d2 \) r
同埋個市場既前境要係好先得
" E. W, P- Q) T$ S- W6 R8 Z但當經濟一差,公司估值趺了,物價不升反趺
; N! [8 P. A! e+ w3 ^4 K* m例如剛才說10蚊的, 趺到得番9蚊,
% d% |6 z7 L3 R2 K' `咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
$ R) t! e. c5 ~: c* C" g+ w所以你就會覺得D錢好似蒸發哂咁
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+ V- r7 L( G: V# U) e9 G+ U# D/ c你都可以當標野咁諗, 個樣野多人可以狂升值,
/ x* f. H* s/ W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, : a0 r; t5 c  z; K3 X
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
) D; d+ L) p  s3 x2 u9 ?( [; U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1 d5 _7 D3 K% i3 I/ T" Y
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
+ n' z  S5 i8 z$ ^6 T9 p唔係d錢蒸發, 而係比美國佬洗晒未來錢,   r" ]$ k$ t! b3 B( c
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( o! m: [& I: G! I$ @4 X
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
  k) x  t9 d! r# U, ^咁你話d錢蒸發左去邊? ...
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" x* h0 G+ K# Q' W% [2 `  z正係咁樣' v8 o0 y5 a! B- _' d# E
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- a. Q8 R* t9 n% W' m- Z0 W
分分鐘佢地唔使還錢
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9 I7 _% t0 ?! h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,
& ^& `  w4 L6 F* H3 K7 l" D: M8 F1 W% H連國家都係問人借, 不停發債券, 印鈔票! V9 I! C" O1 d" b7 ~; @! i
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
& |! R# {- ^+ Q$ K( d! q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
2 M8 N4 R" E" s4 N9 R咁而家"爆哂煲"算唔算先至係變番"正常"???
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其實係...) a/ Y$ _( D6 G9 z4 A( @8 ?
因為以前未生產, 先消費
/ X8 _8 s. N/ ?8 H而家就要多生產, 少消費
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