|
- 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 V' Y+ I' U' s+ `( ~- WCDs could have different ratings, AAA -> F,$ H! a6 j3 E4 \: V' _3 f
more risky ones would have higher premium (interest rate) as a compensation for an investment.
5 ^9 P z' q$ o, y3 |( o7 [! y& zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 c; U6 U) {9 ~; O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 I/ C) E7 K) j
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ c! f+ q, x9 k8 a; l/ Y6 k
similar to bonds, CDs trading in the secondary market have different value at different times,
6 w Y' {8 t; Znormally the value is calculated by adding it's principle and interest. 5 S! d/ _9 l* n
eg. the value of the mortgage+the interests to be recieved in the future.
F+ ~' @% h' a! A* P) {3 Cbanks 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., f( j" s) M9 ?4 }3 F/ T+ M
]! L, d1 g/ k( I; g" [+ oim not quite sure if the multiplier effect does really matter in this case.
: k" E2 @) a! `( ^/ C ^in stock market, it's the demand and supply pushing the price up/downwards.5 R3 L2 O3 C6 s! g+ I1 `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: u* J( h- d) M
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 p$ W( E$ c* J) S* H+ L4 f
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. $ l* L8 L7 p L! i, o
but the value of their assets did really drop significantly.
$ v) D- ?9 B$ C! u
8 Q4 ]9 D9 i; u7 H/ X* v1 R7 V8 h[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
