|
- 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.
7 r% k2 F: G$ u6 ~: YCDs could have different ratings, AAA -> F,
: m: B9 H; x" n2 Z" @ k C1 R+ Smore risky ones would have higher premium (interest rate) as a compensation for an investment.
; w0 Q# X" }- V! x: Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
2 L0 O0 {+ Z7 @6 \, o4 I9 k) _5 [in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.4 L6 u3 j6 Y( I, r
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
+ h; ~8 d) T, o9 _similar to bonds, CDs trading in the secondary market have different value at different times,
6 J; ]7 G3 |7 O& H6 m6 K: b2 hnormally the value is calculated by adding it's principle and interest.
: a1 I9 ~ V0 u' u, k* N( y- leg. the value of the mortgage+the interests to be recieved in the future. 7 V6 m$ q9 C3 B z; q
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.
) W; c. D" L) g! |8 N8 q( T& m, t7 I# r( C, u$ }- r+ O3 o
im not quite sure if the multiplier effect does really matter in this case.
# s g& \) m, s9 M& G8 { Sin stock market, it's the demand and supply pushing the price up/downwards.
. Q8 m$ T- }5 X. B' fFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,0 |1 L+ b' V ` [% Q3 \0 X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
[# @3 ~7 X! y: j" JThe 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.
7 \7 w2 h# T* _, J. ~but the value of their assets did really drop significantly.
& o8 M/ B G i1 ^) `' j) e; F2 S8 [- p* m& k5 M! K& }
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
