|
- 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.4 d9 t4 @* Q( W) V
CDs could have different ratings, AAA -> F,6 f5 G+ i8 r( C, Z$ }
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 E( }7 C2 q8 f$ E# c9 }
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 `, O4 K) ]) E
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 J* F5 ]( ~7 o( p0 i+ M0 l7 {: m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# @7 ]3 j0 \9 [0 m% b
similar to bonds, CDs trading in the secondary market have different value at different times,6 j; l4 P3 p3 [3 e/ t
normally the value is calculated by adding it's principle and interest. * `8 J2 L1 e! Q ~: {0 G1 F
eg. the value of the mortgage+the interests to be recieved in the future.
3 O0 p* v' w& m8 \. i7 ~9 r7 Abanks 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.8 F$ w5 U2 i. c, H6 t0 Y0 a2 _
$ Y) p/ b( E. j. {im not quite sure if the multiplier effect does really matter in this case.0 n" z# m4 l H# I
in stock market, it's the demand and supply pushing the price up/downwards.
# p: [$ N+ w* q; rFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
9 A4 h5 d+ V) l' RA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
b. j* t' ]# U, ]) BThe 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 I3 N" y5 v4 r% W- Z+ ~" ]
but the value of their assets did really drop significantly.
: {% P) \7 l `0 u# w2 r Y
8 t% V" V, d! T$ w[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
