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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
( F) Q% k' b! G: h9 ]) lWhy bank will sell 借據給第三者???
2 D, y) Q, {, \I was so confused.....
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+ ~4 X8 s' z9 h3 T5 n  S4 |講到尾都係賺錢4 G2 G6 w  h$ k3 F$ D
so銀行可以不斷放款
' |/ K2 u+ C8 b$ I4 s( S6 H美國的房貸問題散佈到全世界6 ?5 F# B, Q7 w6 E, w$ K1 j
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mortgage loan ( W; l' z- x% T0 m- V+ K
>conduit  ~, u# G! f* c( y& l: p
>RMBS(Residential Mortgage Backed Securities)/ x, [  s& u8 ~( [2 ]8 r& x: y
>arranger& @5 |) K! V& w: z; ]
>CDO(Collateralized Debt Obligation)2 k: T$ t2 o/ S5 M! s, E- J* y8 F
最後去到投資者
i thought it is the reason of rate of return.1 w* G4 K6 R) W$ ?# ~6 X  g
CDs could have different ratings, AAA -> F,
- f( U4 P) g) u, ^3 ]more risky ones would have higher premium (interest rate) as a compensation for an investment.% A, P4 Z" F5 d1 ]  M+ S/ I# W
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 \9 A" Q$ \9 G+ Z0 B) n" }; m. D6 X$ a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 _0 d+ n" v' m) z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- }1 R6 `  a, x4 O, gsimilar to bonds, CDs trading in the secondary market have different value at different times,
' T& e4 N( c6 C) q2 {- V  l4 [normally the value is calculated by adding it's principle and interest.
9 a' s; ~3 x1 M& H: I" Geg. the value of the mortgage+the interests to be recieved in the future.
. |5 ]8 z4 M. \% B2 o. qbanks 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 t' W) d* `% f
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im not quite sure if the multiplier effect does really matter in this case.
! q3 K7 H+ F: O, `2 zin stock market, it's the demand and supply pushing the price up/downwards.5 S+ u. k! P9 t6 o, r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* F0 A: U9 J9 Z) W1 |/ sA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ h" }3 z9 o2 _0 Y* b+ H
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.
( C2 N- y1 ], `* r$ vbut the value of their assets did really drop significantly.
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4 l9 |$ F5 N/ j% l% b% u( h8 i[ 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
: E% y: `" ?  S) h! f! bRefer to last example,
( }# n" Y8 X4 z- N2 E7 D; h5 Cthat means bank A have no money because we borrow 10 dollars from bank A
5 d) E6 }6 U% T  ^& [6 eBecause bank A doesnt have enough cash on hand ; V. `) q& ^; f( j. R. T/ l8 s
therefore bank A need to be bankrrupt ??? Am I right ?? ...
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( g% \2 H" K4 Y% v; MA->B->C->D->E6 g  n. Z4 d% d1 f" V+ |- e* i
so does it mean if E failed to pay D,
: ?! M' g' O! C# call the B,C,D,E have to go bankrupt?
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0 E4 k( ^' R6 j. e  Tthe multiplier just tell how much money created in a whole economy, / \2 e" W2 w: |
in this case it doesnt really matter how much money is created, 7 a& X* K& {4 [" i" F9 T
it's the problem of the debt itself." j& v" y% w9 h' j6 ]
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
2 N' s; e. m+ B3 X; [+ t小弟一直都唔明...4 X# b: [) ~* N+ p: s8 `0 w

. c* h7 u! \. A( D- b8 T; E全世界都蝕錢,咁邊個賺緊錢呢?, e9 ^/ q& A" c' v9 a3 _% w$ C6 B

, P8 D3 D8 z" H3 d5 V3 k無可能淨係有人蝕錢無人賺架嘛...
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* d5 g/ T/ K/ B% O敬請各師兄解答
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Thanks
; F! U' r9 s7 i& g' o2 b那些根本係 紙上財富  
) C3 r' i( k* y$ U9 Q+ `0 _$ 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 graphic
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8 q. F' \3 }9 h% a7 whttp://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產5 k# F) {4 B& e2 ]
當經濟好,投資銀行相信會賺錢, 物價既估值相對較高( m5 |7 j9 T3 T0 r& a3 o# \4 d( ?2 U& 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$ ?" Y! N8 P1 h: P2 P7 p3 k- t: f
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
; I, l0 h/ t8 ?# d扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
% }" B" W; m: r計番回報率就已經係50%,所以可以好好賺
; w4 J9 t  l. l) n前提係銀行之間要互相信任先可以咁樣借法
7 M9 \2 n( B2 h同埋個市場既前境要係好先得. D$ q6 H: Q) N0 E' J
但當經濟一差,公司估值趺了,物價不升反趺  B& n8 n$ w2 i; Q
例如剛才說10蚊的, 趺到得番9蚊, ( C2 p$ ?, Q# t4 M0 g) \
咁投資銀行一下子就要還11蚊, 一來一回變左虧200%+ M3 @5 i% q$ g4 X  O; `
所以你就會覺得D錢好似蒸發哂咁) M" B* y8 E. P5 L

6 h6 p7 O. `" I) ~你都可以當標野咁諗, 個樣野多人可以狂升值, . O% J2 N% @' _2 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,
7 M# i' I& B  }/ |: I淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, ( W/ O1 {4 F. g" z
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 E: k- T  H/ J6 O+ Y1 b: z+ B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. ^$ h7 F* a, |) @
唔係d錢蒸發, 而係比美國佬洗晒未來錢,
+ |) }2 i# F7 H; \' _淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,   b7 T$ b4 d; J7 p* C  ]$ I+ 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
! q+ l3 |7 l3 D咁你話d錢蒸發左去邊? ...
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正係咁樣* z" U( e" q% P0 B4 Y  m, T( T
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/ \; T2 e/ ]4 W3 @8 U* u8 l' k
分分鐘佢地唔使還錢0 J) G9 r  F4 M4 o2 r3 B

  U% j1 c/ [% H" V( k7 x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,
; C# @1 d# ~# ~4 v5 N連國家都係問人借, 不停發債券, 印鈔票
1 \; H; L( Q2 ^) O1 ?$ e; Y1 e8 p一個國家好少出口, 而又大量入口 ,反映到佢唔多生產
' l, n; R  s) G' K! e9 Q" Y! @8 N4 Y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 m  z# ?7 Q9 G, ]! ?1 x咁而家"爆哂煲"算唔算先至係變番"正常"???
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) X' M: W2 ^* R其實係...+ \/ ?8 s/ ~$ m: y' ?, e
因為以前未生產, 先消費
! Y8 ^' y; A3 n9 S) `) D4 x$ D; x而家就要多生產, 少消費
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