|
- 帖子
- 706
- 精華
- 0
- 威望
- 316
- 魅力
- 150
- 讚好
- 0
- 性別
- 男
|
12#
發表於 2008-10-8 07:03 PM
| 只看該作者
i thought it is the reason of rate of return.) t% a- Z7 |! f$ C9 D8 [4 j
CDs could have different ratings, AAA -> F,+ g8 a+ ^" K; _9 m9 [/ T/ |- @
more risky ones would have higher premium (interest rate) as a compensation for an investment.
0 J3 D) _; F. Z' \2 F2 z6 Vmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& B+ f: z0 W) R) A! t) ?; p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ r, Y( K+ I3 [( [Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
, Y; T% s. i7 o8 R- osimilar to bonds, CDs trading in the secondary market have different value at different times,3 ^$ q9 V- [% M( r! K( ^4 w
normally the value is calculated by adding it's principle and interest.
B2 N: G" M6 g" [eg. the value of the mortgage+the interests to be recieved in the future. ; u: H; L( g* X1 d" y' u& y) 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.
5 E$ b7 a- F4 Z+ U; n9 B$ ?, `6 H; M7 q ^0 }1 @, A& A0 Z& S* }
im not quite sure if the multiplier effect does really matter in this case.$ U5 a, K8 h0 }, P- Q7 y
in stock market, it's the demand and supply pushing the price up/downwards.0 x+ U r, v2 a' v9 b/ b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,4 j% H$ z8 i) U6 _% ^8 C @
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.: t. N1 E' X7 Y# |3 J# h% 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.
% F" G r% ` T. }& r$ qbut the value of their assets did really drop significantly.
) U8 f$ T/ J. I
; K x' J0 j5 D- ]6 q. l7 Y5 s[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
