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12#
發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return." b9 p8 N8 ]* X+ v2 |
CDs could have different ratings, AAA -> F,
; E' j2 l" ~9 y1 Gmore risky ones would have higher premium (interest rate) as a compensation for an investment.
3 S! j N, }9 F! q! @/ x' Wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 c( K$ H8 n( s7 G3 Cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.0 i2 \. K3 y7 [; Q: `
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& Q. `4 Z: b" }1 O7 {0 b: c) R
similar to bonds, CDs trading in the secondary market have different value at different times,9 ]$ ~9 n6 w2 _3 ~3 u6 Q, B% V
normally the value is calculated by adding it's principle and interest. 9 y( q( y2 {4 G% A2 x7 |- T" N
eg. the value of the mortgage+the interests to be recieved in the future.
8 w& g- W9 ~& I+ L% ]) zbanks 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.9 m y# K* K, Q# x
; s* W" s" i$ Gim not quite sure if the multiplier effect does really matter in this case.) n5 Q# j5 a! F: \* m) ?
in stock market, it's the demand and supply pushing the price up/downwards.
% i; _" b& v. S, A5 Z/ CFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) g) P9 f5 P' w2 ~; h: E* H
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.' d7 K- T6 O$ |5 s/ p( ~0 t
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. $ g! H' s4 Y9 U1 P7 |
but the value of their assets did really drop significantly." D" d1 l4 E i
$ l6 f7 P4 k& P[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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