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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.
0 m( c/ O! K' @CDs could have different ratings, AAA -> F,$ i! G( h& e- D& y0 O
more risky ones would have higher premium (interest rate) as a compensation for an investment.) |* P+ T: o- Z
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( Z( f& c( P& A+ [6 I! n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 @$ N- p" K; p; n# Z, R# ?Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.4 B, q4 ], ^. w+ x' t
similar to bonds, CDs trading in the secondary market have different value at different times,8 n5 q$ G9 [- \0 T. s
normally the value is calculated by adding it's principle and interest. g$ w8 @6 o9 N, ?& [- l
eg. the value of the mortgage+the interests to be recieved in the future.
! I$ W5 u. P) O7 B- G: M" Hbanks 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.
; i6 ~4 }9 K: S9 o0 o9 z% t7 s& U. t- c& _! m% T, j) X
im not quite sure if the multiplier effect does really matter in this case.3 |1 Y, C0 I% o0 w6 c
in stock market, it's the demand and supply pushing the price up/downwards.
1 V/ ^) R( z1 `* dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" V. V. I ?6 u, U; E- t5 zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
* P& T$ ~" L" p3 u: LThe 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.
! C* k7 Q5 f! ~+ I- V: ~4 a/ Obut the value of their assets did really drop significantly.- y& z' } ]) X6 ~
( d0 V1 U- B" H$ ][ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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