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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.
5 c# s7 W/ _: {6 uCDs could have different ratings, AAA -> F,
5 V0 G, b; P+ M+ b$ imore risky ones would have higher premium (interest rate) as a compensation for an investment.& m( `) b! \- l& t. d
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. ^9 g( k2 h) l- _. T0 D1 |( [& e
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ T( b% {! F# D6 O) p, b# }! y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., A7 B* i8 f7 P9 Z( _
similar to bonds, CDs trading in the secondary market have different value at different times,
c1 q+ w" M) i. {3 ~% v9 bnormally the value is calculated by adding it's principle and interest.
) S& S. x7 z" ]( c* b# C) leg. the value of the mortgage+the interests to be recieved in the future.
8 p' @' ~: ~8 U1 Y) Z6 l% ubanks 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.9 } R! d* l, c5 Y# H
0 w- f7 \' A) G0 V' F4 Nim not quite sure if the multiplier effect does really matter in this case.! Y9 c. r2 r/ W4 m; W8 C
in stock market, it's the demand and supply pushing the price up/downwards.
& `$ D+ e; E( k0 @7 pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 `7 v) U9 X2 G* x- {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% s4 _0 r" Y* W L _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. * N* Y$ z$ Z8 j0 W, Z; r4 C
but the value of their assets did really drop significantly.
3 x* \% y) S Q }2 u% w
8 v! h$ ?5 b0 Z0 c0 N, x7 f. {6 r8 Z' W[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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