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12#
發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.; i) ], r# r1 d' f3 R1 O
CDs could have different ratings, AAA -> F,
4 \5 F4 y, v$ ~+ W& v/ e/ nmore risky ones would have higher premium (interest rate) as a compensation for an investment.
; O3 F" c2 u9 v' v( N Rmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# l' i, U5 L2 f! C3 Ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
7 u+ B: `$ y3 V* w" s& a' ?) |Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ k" W% f2 N& a1 _
similar to bonds, CDs trading in the secondary market have different value at different times,! q* ?8 s/ a" }: J: d, L
normally the value is calculated by adding it's principle and interest.
+ }- V8 G. d+ h* deg. the value of the mortgage+the interests to be recieved in the future. / F' V& ~8 \ D6 [
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.6 Y1 @7 q7 E+ |
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im not quite sure if the multiplier effect does really matter in this case.: L) f! n) l: w: i4 B4 W2 p
in stock market, it's the demand and supply pushing the price up/downwards.
' g2 _7 W' h. ?; V, J5 @/ _For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
% h) ]- X o; O) u$ zA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.; ~0 Y, B+ H$ t# E. d
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.
3 A& \+ O. {8 y5 {but the value of their assets did really drop significantly.
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. W' b6 v7 s6 T$ F" w0 [[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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