|
  
- 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.) z- i5 t3 P1 L+ r) _0 N7 A
CDs could have different ratings, AAA -> F,
+ Z" S; V, j1 h1 S) Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
, ]7 f# F' q. A6 I2 t5 r4 N9 F+ Amain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 l! Q, T. `3 v! R/ T: H t
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.9 U" t3 [- N1 Y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( a9 i& a) M% W* j, C% wsimilar to bonds, CDs trading in the secondary market have different value at different times,
$ W% F# \, A6 q* D ?; _9 V" dnormally the value is calculated by adding it's principle and interest. ) i6 M x/ @4 Z G, E
eg. the value of the mortgage+the interests to be recieved in the future.
) i- j/ l3 c' Z! a- h5 Fbanks 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.+ X% z6 t% ~6 |( @ S
0 G0 I+ i& E6 ]$ W8 j( X
im not quite sure if the multiplier effect does really matter in this case.) }0 w8 l/ g2 y6 u1 ]
in stock market, it's the demand and supply pushing the price up/downwards.
" b+ P3 n# |0 s* i5 S9 LFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" y! ~6 n/ D& y- ~$ r# a/ Y! QA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" K' u6 B C% S( i! M# zThe 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 Q; I5 ]- \- Z* Obut the value of their assets did really drop significantly.
- n( h0 a0 R/ |# y" V8 A4 H
0 g( U3 m% f* W# _[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|