|
- 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., V8 E5 o# s- k/ H4 S
CDs could have different ratings, AAA -> F,: Y% O0 ?$ r4 T2 m! J* o
more risky ones would have higher premium (interest rate) as a compensation for an investment.
, I y, E* R) P/ \- D1 wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
% V0 h) D. ?, hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
: `' c$ `; x. t5 ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- F6 I, x* j i- m4 V, Dsimilar to bonds, CDs trading in the secondary market have different value at different times,
5 \/ \5 _) V5 t$ c6 e; j( ^normally the value is calculated by adding it's principle and interest. ! h$ {3 c# Q% c% V: L7 r
eg. the value of the mortgage+the interests to be recieved in the future. $ x9 J" ~5 V# @! q1 z
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." B7 B9 d" R- w8 Y) D1 p
7 R+ F G9 k2 b% C
im not quite sure if the multiplier effect does really matter in this case.; k0 M& s+ A9 X; w
in stock market, it's the demand and supply pushing the price up/downwards.+ U ] U* U7 ]) P" e
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: A& e# I6 |+ |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; I$ D6 E1 u$ J( j& ?$ w
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. ) q3 \% A; R( P8 k; W9 a
but the value of their assets did really drop significantly.. m* v# B" J9 |
) N" X8 q7 N3 s, A' D8 x% M$ F' r! Q. I[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
