|
- 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.
) P1 A/ i' y. H: k. HCDs could have different ratings, AAA -> F,& G( |) y/ S4 f2 l. m0 c& U6 t
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 W" r/ }5 D4 I6 `4 t3 K
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ l4 W! g" G3 u m- t; S" fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
! ~9 @" @* e9 }3 qAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
4 t. C( B+ V8 ?similar to bonds, CDs trading in the secondary market have different value at different times,# E8 T) D8 R/ h7 p
normally the value is calculated by adding it's principle and interest.
. V# E' L1 j, yeg. the value of the mortgage+the interests to be recieved in the future.
1 U4 w7 i8 F! I* @2 p8 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.) j- s# p5 ]% c1 b& f% y
& k: q3 G$ W+ ? o& z* W& O' C* qim not quite sure if the multiplier effect does really matter in this case.
+ L$ Y1 n. I6 j1 S: q8 din stock market, it's the demand and supply pushing the price up/downwards.2 S& t" ?5 ^" w( R4 P# T0 s- r
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,- q8 k1 g, N( U" a1 }! v: Z
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" J8 _; j+ U, GThe 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.
7 \2 F0 f3 u5 t2 J/ v" f/ Q( ~5 ]but the value of their assets did really drop significantly.
- E7 J% j" g* C. p7 `% [
: k7 N& c. u, T& n1 J. Q[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
