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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.
' A+ f! x" _' j7 @CDs could have different ratings, AAA -> F,- y4 T, b, A! j# a
more risky ones would have higher premium (interest rate) as a compensation for an investment.
- k6 l: b ~4 d1 J. ^* Umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( R1 j* n3 O3 Nin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( S" P) ^; h. Q" O7 H5 ~
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
# J; o4 ^ I- L) f9 }- k* vsimilar to bonds, CDs trading in the secondary market have different value at different times, n" b, x E; ?1 S& d
normally the value is calculated by adding it's principle and interest. + G" }- V% T! x! u( A* ~$ B7 U
eg. the value of the mortgage+the interests to be recieved in the future. . O9 `, {- X( H( t
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.5 [! ~% W. M( ] e; w
* N, z2 {$ M Y% `/ pim not quite sure if the multiplier effect does really matter in this case.
. G3 n/ p' j z+ v4 l+ Din stock market, it's the demand and supply pushing the price up/downwards.( _, a. Q/ N; g
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" L% c9 h |% {( f5 `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
) y- Z- e, @* O6 h X1 z0 G: QThe 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.
; ?9 P+ h$ D+ S5 Sbut the value of their assets did really drop significantly." @9 D7 A) M0 I5 j/ d
, M% k+ j9 b! H% D {
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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