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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.' e3 M/ _) x7 ]- J5 X
CDs could have different ratings, AAA -> F,! S& a2 M5 Y( I6 H
more risky ones would have higher premium (interest rate) as a compensation for an investment.) c9 |+ D8 J+ Q" H
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,7 G8 p# D5 g0 n) S" j. A
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.+ D. C) _# j$ j) _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.* X, \8 f: v5 f
similar to bonds, CDs trading in the secondary market have different value at different times,
3 A' K. o0 a% t8 i ]* A/ pnormally the value is calculated by adding it's principle and interest.
& |, Q6 ~8 e2 ~6 ?1 eeg. the value of the mortgage+the interests to be recieved in the future.
$ o7 e' \* p, F0 ]; C) l$ S1 N6 Ybanks 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.8 @: Z: F! b) C: z
+ F( y% B; P! K) t- mim not quite sure if the multiplier effect does really matter in this case.& A% ]! v9 x1 j
in stock market, it's the demand and supply pushing the price up/downwards.
? Y$ m% e- _0 bFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 c" u4 ]/ _! W) T" i# EA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.. A3 R. f+ c) W9 n; l8 o# o S
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.
# ]5 {# n1 i; s9 ~6 hbut the value of their assets did really drop significantly.
4 c7 F( J3 }2 R$ W" O4 o! W# a' h* }7 d: ?; L
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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