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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.% y' J q6 Q& `2 \7 l2 p' F
CDs could have different ratings, AAA -> F,4 z" x; f, W) ^4 e7 q7 ?8 y- s
more risky ones would have higher premium (interest rate) as a compensation for an investment.! \" o4 W, |9 D0 u" \
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
/ L9 N' I0 k* Zin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.3 _3 w3 S: @, i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. U8 X% z2 {" d8 F" O: M) qsimilar to bonds, CDs trading in the secondary market have different value at different times,9 E$ B% I1 N* y! |
normally the value is calculated by adding it's principle and interest. * L: q( M' y* x& ^- t- u4 j9 z& B% ~
eg. the value of the mortgage+the interests to be recieved in the future. " ~+ B: [: r$ @5 K; r! S
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.
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0 m7 {3 _7 Y5 m+ Aim not quite sure if the multiplier effect does really matter in this case.
. m! m$ Q% a3 M: j9 Jin stock market, it's the demand and supply pushing the price up/downwards.
$ k# t, K6 `% n0 p* lFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) V% ]$ ?( G2 P7 z' hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.- F( P1 \5 x5 E. B- \
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. + E! H& k" h, u# O3 N
but the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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