|
- 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.
+ S0 I8 X: k: ACDs could have different ratings, AAA -> F,
: T, n( j1 E, L, emore risky ones would have higher premium (interest rate) as a compensation for an investment.
" Z) T( t; d& ~2 p+ l; L# Gmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( Q/ }2 h: ]$ xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.; C5 K5 O8 P1 t: R& V/ G8 v& |0 U
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. N( [5 r" N0 }2 B K
similar to bonds, CDs trading in the secondary market have different value at different times,$ v# M( K: I, w3 w- M$ a
normally the value is calculated by adding it's principle and interest. ' i0 |1 ^2 u6 O6 D
eg. the value of the mortgage+the interests to be recieved in the future.
) F# I9 u6 \) a/ Ebanks 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 q* h7 t* v1 p
! l1 R. [ J1 o( `im not quite sure if the multiplier effect does really matter in this case.
; T0 c* e1 V& \in stock market, it's the demand and supply pushing the price up/downwards.
. A* }$ x+ R* K0 K! b/ w* IFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
# Y0 I T7 C6 o! _! x% z. E, HA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. b% _0 c7 v. V0 {+ s. @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.
' i4 {# x) X7 u/ r$ J! Vbut the value of their assets did really drop significantly.2 ]( X% I9 W0 Q8 ~3 A/ @9 {/ |
7 b! S' O2 K: ^
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
