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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.$ L/ P# \9 Z9 K) F
CDs could have different ratings, AAA -> F,
, t, G/ Z% b% S% A# Emore risky ones would have higher premium (interest rate) as a compensation for an investment.
6 B: j" A" ~ U0 Mmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# `* D) g. z: x4 @! _; y! p
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
+ c) d ?5 F2 G, h* H }- r$ fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( H/ @1 N4 g" f \
similar to bonds, CDs trading in the secondary market have different value at different times,/ N' r1 v" J2 I
normally the value is calculated by adding it's principle and interest.
% \# g! y7 E# `) Beg. the value of the mortgage+the interests to be recieved in the future.
& n# {6 I, H- Q. A; A) M3 wbanks 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.5 D# o0 y9 S6 P2 F
n z' W. y5 F- G) a- l" ]im not quite sure if the multiplier effect does really matter in this case.& [" Y o; v; [& ~6 J- Y9 k
in stock market, it's the demand and supply pushing the price up/downwards.1 m$ m* z6 q, J8 T; ?. ^
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
. Z) M+ B! p" H+ k) YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 a: ~( j, H8 a8 K' j3 p% ~
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. # U- R+ ~4 v- N k8 Z, `
but the value of their assets did really drop significantly.+ U- O0 w7 @# R+ ?! @4 z! t! O
6 P+ z: Z6 Q4 K7 b9 b; }
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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