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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.( |$ Z1 ?" S. Q/ k
CDs could have different ratings, AAA -> F,6 W- ] @: j2 g3 P6 N6 E4 L
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 @. J5 f( X+ I [( Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 E7 S* f( e5 T- `
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities." X2 A6 K6 r) a- K
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: D0 D/ f3 y D9 t6 U) p3 ~
similar to bonds, CDs trading in the secondary market have different value at different times, t2 l0 \) u* ]! C
normally the value is calculated by adding it's principle and interest.
# D/ l7 k% a% }5 `# D @eg. the value of the mortgage+the interests to be recieved in the future. . G. K$ a+ @$ k
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.' v# j8 w3 d1 Y9 T% }$ I5 `. Z
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im not quite sure if the multiplier effect does really matter in this case.) m* v+ D% x$ O& w: c0 X' D N
in stock market, it's the demand and supply pushing the price up/downwards.; C" X7 r+ E/ y1 D0 W( a
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 w+ S5 ^" m% I0 k3 U& F
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 }6 ]8 {& W; A; H, F$ [2 [0 }4 {8 o
The 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. : \% q% N8 V2 O# n
but the value of their assets did really drop significantly.
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6 M2 ?: i) z6 F8 a3 {% Z[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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