|
  
- 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./ v3 o! e! l# f3 e) t3 p2 y9 a) B
CDs could have different ratings, AAA -> F,- Q- u2 ~3 t* M* E9 K* i
more risky ones would have higher premium (interest rate) as a compensation for an investment.
* R8 @/ }6 b9 U3 @main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ B% ?; x, _ Xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, x( W- A3 G) U; X7 x7 L- SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 N6 e. U& p6 O
similar to bonds, CDs trading in the secondary market have different value at different times,/ |; o; ~) f/ `: l0 X X, v
normally the value is calculated by adding it's principle and interest. i3 o' y4 h/ q8 h% V: u
eg. the value of the mortgage+the interests to be recieved in the future. ' F! J# U3 b2 t( D6 a$ N5 D( J1 n! i
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.
0 U4 G" J3 f; n( o6 Z4 O+ B) V" d: k
" i# j7 a9 ?' @- X4 eim not quite sure if the multiplier effect does really matter in this case.; x: b& ]& ?$ a* j& L' @
in stock market, it's the demand and supply pushing the price up/downwards.
/ u+ r) @3 R3 rFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12, Q, c% `, @/ v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 J* O9 Z, q7 m, e, i8 {3 BThe 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.
* @2 ~, j' u# P2 P# ybut the value of their assets did really drop significantly.2 R1 A0 G' l7 C! D# j% w
$ v& G* `; i6 _0 r
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|