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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.) Z/ N q$ T- k* X7 E+ r* T1 m
CDs could have different ratings, AAA -> F,$ s" ~3 z; p2 M3 n/ x; n, d
more risky ones would have higher premium (interest rate) as a compensation for an investment.' s- y2 U) c" D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 c. ^; r7 u3 {5 u' E) Z L
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 f* e u% P3 t" U _3 v1 uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.$ O7 r2 t) v. e# D
similar to bonds, CDs trading in the secondary market have different value at different times," ]9 K2 w4 e( N/ V* ?. {5 A1 S
normally the value is calculated by adding it's principle and interest.
( ^3 p# N$ j" I& T3 ?# S% w7 Ceg. the value of the mortgage+the interests to be recieved in the future. $ T8 Z. U% [+ e3 z2 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.
6 B- H6 y. L6 h: {& R3 G9 K
4 s3 c# f8 G6 i6 @2 p4 F+ kim not quite sure if the multiplier effect does really matter in this case.$ k J$ h0 |9 P( u, A, s G& [
in stock market, it's the demand and supply pushing the price up/downwards.
$ V& U1 P" Y- j; L; ^7 B2 ]9 c& s3 J+ |For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; |; _& N1 O/ c9 b: ~
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& X6 C( `4 [# o% j, s% u( aThe 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.
: ?3 i' r9 ]5 ?but the value of their assets did really drop significantly.7 P) _9 ~% L' {
" z4 g/ ~( U% L1 E' z2 T[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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