|
- 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.* }9 i9 z. t; p& ^) j/ p) j
CDs could have different ratings, AAA -> F,, I/ M% Q) _; h6 Y1 g9 p8 f+ w- t
more risky ones would have higher premium (interest rate) as a compensation for an investment.6 w( \& ~8 A- T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 p) [$ `& L/ j5 C. [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 H9 ?9 s; ?1 `/ U8 QAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 U0 w, W4 N) Q" D8 O; @4 U8 t
similar to bonds, CDs trading in the secondary market have different value at different times,! E# S* W) Y2 ]3 U
normally the value is calculated by adding it's principle and interest.
0 f, K; v% D# e M( weg. the value of the mortgage+the interests to be recieved in the future. ( N3 V4 S ]) W
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.
: r' o$ j8 d2 Z, O' q& e" ~7 V2 G2 f9 @0 i$ Q2 @
im not quite sure if the multiplier effect does really matter in this case.: Z2 S& G* w0 t7 M1 @& x- g
in stock market, it's the demand and supply pushing the price up/downwards.
) j+ `* o& j4 X- jFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,9 q0 z" n9 m9 x$ S* |
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! Z9 c7 t, [8 v% ^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. - g- b( f/ p9 \' q, z# @) u
but the value of their assets did really drop significantly.4 R4 ~9 w+ Z1 [+ [" m" [! c
% t, }3 G1 ?' T
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
