|
  
- 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.6 e+ C4 M9 l8 m
CDs could have different ratings, AAA -> F,$ K* ]5 A8 s: N' h; [$ p3 O5 d
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 _& V# t: f9 S/ y. F0 B% X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& A. w; G" S, T1 Iin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 k( T6 ]% S4 n9 N% r& MAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& A9 m- j% t# I9 t
similar to bonds, CDs trading in the secondary market have different value at different times,
% @- Z/ H5 M5 o2 u# ?normally the value is calculated by adding it's principle and interest.
( ]& t$ M5 X, meg. the value of the mortgage+the interests to be recieved in the future.
+ ]9 Q: }4 H7 b9 a* Hbanks 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.
- p+ l- ^+ | G/ @& R4 B) J. L, M
8 s' Z& u# ?" F% q' F0 Z/ y7 Yim not quite sure if the multiplier effect does really matter in this case.: y, p* k! Y) I4 x
in stock market, it's the demand and supply pushing the price up/downwards.
! ]0 N. ~! _6 _/ g1 ?2 |' M' D( UFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,$ T6 a3 Q3 f: u2 {3 b
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; u" ]6 V v% G( J; l4 ?+ QThe 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.
' Z* L/ u2 m- Bbut the value of their assets did really drop significantly.9 u1 R$ K1 p& m; l- [* t
/ j i& r! Y$ @
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|