|
- 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 \8 B p9 O0 ^/ B% G# ^ ACDs could have different ratings, AAA -> F,. |: J C j3 V( D3 W: H
more risky ones would have higher premium (interest rate) as a compensation for an investment.4 |1 Z- c) O( {8 L
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,% d4 C# i( O+ x$ D$ X0 w$ @
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
, y* b0 b5 U. \! ^" V9 YAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.) ]' P$ h8 a4 M
similar to bonds, CDs trading in the secondary market have different value at different times,! O/ Z6 `1 N/ C9 [) r' u
normally the value is calculated by adding it's principle and interest. 1 b# g: g5 T! b
eg. the value of the mortgage+the interests to be recieved in the future. 4 Y0 U! ] S" }; J3 ^9 L2 K
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.2 R2 @( w" [8 A$ U' t: I
4 s2 _& K5 q* v% I. @# l. [4 L
im not quite sure if the multiplier effect does really matter in this case.
4 G; m! z3 z+ ?in stock market, it's the demand and supply pushing the price up/downwards.
6 F8 v+ g. W& [' c1 L: qFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,; X6 i( _1 k6 y0 i
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# ~: O2 G) g* V, a, yThe 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. % r2 L" p( }4 c0 I2 J# T3 `
but the value of their assets did really drop significantly.
: S6 o% W8 H- M; @0 \7 X( ?1 M* y- p. u* s
+ o, a @- S6 I, |[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
