|
  
- 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.% J" _0 s! G( Y5 @' U* B
CDs could have different ratings, AAA -> F,
( c) [' X. F9 o) y, r( X& Y- dmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& B1 `; }: y4 b; q8 \4 umain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& G' ~; A" f' o' d$ q+ Ein other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& {( z/ ~2 R& K3 V6 k" C6 |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
) |1 H) G9 J! v; ?& _: Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 R6 @) a6 \! {! Cnormally the value is calculated by adding it's principle and interest.
# H1 H* Q0 V+ |& E, M! `- S- @ geg. the value of the mortgage+the interests to be recieved in the future. 5 ]$ E3 V9 U3 @8 F' D
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.
: }; D0 p9 d- R9 P5 P) w
$ ^7 W; k" ^3 H m# `6 K. z+ u% Wim not quite sure if the multiplier effect does really matter in this case.
' o) y# f. O" w/ r. Uin stock market, it's the demand and supply pushing the price up/downwards.
4 c R* o' |" `% l% I* JFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: |$ e% S% W( r3 _, X M' F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 s$ d; Z& t9 M( BThe 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 q+ G% J; g$ u, [+ ?- v3 o
but the value of their assets did really drop significantly.
3 s: @/ N5 Q `8 L; D% N
D2 q, J7 m1 g8 S$ u0 C+ z( o[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|