  
- 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.
0 \) }' Y7 X! `3 yCDs could have different ratings, AAA -> F,
b2 o) k8 X- v+ o1 ]6 jmore risky ones would have higher premium (interest rate) as a compensation for an investment.# o, S: c! i7 B/ ]0 u8 R8 o
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,0 r& l1 b) `: `& m6 N' v
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' L C" p, A# {/ R2 hAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 S& y$ _% Q- J X8 { z& [5 `) [
similar to bonds, CDs trading in the secondary market have different value at different times,: M: H* [* \( [$ [( ]( F# ^
normally the value is calculated by adding it's principle and interest.
; ^: V1 ~* h7 z! Q6 \& P7 `3 x) keg. the value of the mortgage+the interests to be recieved in the future.
: ~8 e! ]1 s7 o/ Xbanks 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* b# Z+ t0 a; [. ~) C) j4 g6 ], y5 R# K
im not quite sure if the multiplier effect does really matter in this case.
9 w Z7 S M5 |' I: ~/ Vin stock market, it's the demand and supply pushing the price up/downwards.
# [' N: Q' ]) G! MFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 n1 S, w$ f$ z2 `: nA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* Q" K1 q$ P6 ^: O, }: A; rThe 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.
* o H: T# D& }but the value of their assets did really drop significantly.* B+ F& l( F, ]6 p, r/ Q
% p. n2 u. b8 c$ {# r[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|