|
  
- 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.
; F+ t6 v0 v, G: |+ { [2 g4 ?* bCDs could have different ratings, AAA -> F,
5 G( |! q% Q$ c! q8 o4 W6 l* x& Ymore risky ones would have higher premium (interest rate) as a compensation for an investment.9 U) s, x1 G7 B- U) e
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 x7 _/ D: i3 c ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 H' p# q' ]/ S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency. h6 v% u4 X @- H- t# } r; Q
similar to bonds, CDs trading in the secondary market have different value at different times,
3 q2 k) c. Y! d$ G0 m7 qnormally the value is calculated by adding it's principle and interest. 1 D# e3 v4 i5 c; a5 L$ R
eg. the value of the mortgage+the interests to be recieved in the future. $ M9 ^( A0 j& F$ T& s6 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.
9 W% N% d1 U8 r% z3 o
6 T: x) V) o t9 X2 ~im not quite sure if the multiplier effect does really matter in this case.
: @* O3 c+ ^8 d& ~4 I$ C2 j6 C, Jin stock market, it's the demand and supply pushing the price up/downwards./ |$ \- I3 ?1 m. R" j+ L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 t6 @% c0 O2 X: z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.& R8 e+ P) J& Y
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.
1 ^ s; z* M1 ]3 b/ z7 a! }but the value of their assets did really drop significantly.6 |, p/ t: n; G/ C# b1 ~
* E$ C9 w; }! Q* p: J) T1 G[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|