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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.& F# o7 i7 Q3 n* ], _1 u. A% w
CDs could have different ratings, AAA -> F,
' {2 Y; j# w/ F/ E0 ^% smore risky ones would have higher premium (interest rate) as a compensation for an investment.
9 c$ x$ r* T; E! @4 u+ E' ?main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 s; U1 |8 k! }2 r* ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
. W2 C& Y) s& G& K6 [3 y% I2 j* |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." @! N6 U* T3 F- m: k
similar to bonds, CDs trading in the secondary market have different value at different times,2 Y9 n' F; i' A0 J( ]
normally the value is calculated by adding it's principle and interest.
' q6 B* Z1 [% W; R' t7 H2 I. Oeg. the value of the mortgage+the interests to be recieved in the future.
7 F& L* X# `4 F5 [0 v' C" P) Wbanks 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.
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^$ A/ B" u- j4 |2 Mim not quite sure if the multiplier effect does really matter in this case.% V* l' J8 q, W/ V- G1 v/ F. j3 J( q
in stock market, it's the demand and supply pushing the price up/downwards.1 g1 N1 r- `+ t( F
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
w E2 q4 _/ K. a% [1 wA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
, h+ k/ o2 E |: `$ uThe 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. 0 B) m7 U+ r G4 o" N* L2 ~6 U
but the value of their assets did really drop significantly.
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& [9 f6 T, F2 u: u& F[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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