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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.- i1 g5 F/ X& |2 s+ V$ r# u0 i
CDs could have different ratings, AAA -> F,
% w1 O( W* @% R$ X, |. L. @more risky ones would have higher premium (interest rate) as a compensation for an investment.! R) q( p* ]6 r" q/ B( F
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
- t; ~$ f1 s6 @1 k/ G$ vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 A& N+ z* Y" ~3 X2 s$ Y# m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
1 p9 V" j) h Y2 G! b+ E$ }similar to bonds, CDs trading in the secondary market have different value at different times," F9 A+ M* h& u; F) ?! _1 y; _ D
normally the value is calculated by adding it's principle and interest. 7 v# x% a; J; @
eg. the value of the mortgage+the interests to be recieved in the future.
Y. }, O5 j& Y. H5 R6 f% o- lbanks 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.& b& R7 D+ E; f) D, Y
. E4 S/ y M8 ]6 Z+ n+ nim not quite sure if the multiplier effect does really matter in this case.8 @3 {( Y; Y' ^& f7 a# [- ~3 }
in stock market, it's the demand and supply pushing the price up/downwards.
1 ^) s! a- ?* a* X' FFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ ~' h# v( W2 h3 J, a) tA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! R' O( g# t0 O' }( 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. ; N* Q5 @/ y* t6 g
but the value of their assets did really drop significantly.) H7 U! v# T" N! Y, [
$ K% I" i8 }& T+ {. z1 q) [4 {
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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