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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.. ~* _; @* D$ r, F
CDs could have different ratings, AAA -> F,/ a% o5 W: Q+ C
more risky ones would have higher premium (interest rate) as a compensation for an investment.
+ k- q% A D% B( E. g2 \+ y& jmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,- c+ c- g7 F0 H. d
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
- v. f3 a2 y6 o$ P( @Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 R ~9 o7 `% m
similar to bonds, CDs trading in the secondary market have different value at different times,
6 h8 P4 X, k j. hnormally the value is calculated by adding it's principle and interest.
3 {; Z& P7 R8 b" E: i3 Veg. the value of the mortgage+the interests to be recieved in the future. , S8 M1 B( X& [& {, m
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.
! K3 B2 V( x6 S0 t4 ]7 d
' }* A- x- V9 S( H* L Nim not quite sure if the multiplier effect does really matter in this case./ k3 @: a9 l% n8 F f
in stock market, it's the demand and supply pushing the price up/downwards.
0 n0 _+ [* p# f7 a! a& WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," m; X& y/ E4 r: T
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& w1 [* ?, h' J0 l* v8 KThe 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. 6 V& C0 u! k! w% B3 a( h: u
but the value of their assets did really drop significantly.4 C% o9 Y8 W8 G; A
& r c+ ^! I* {
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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