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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.* v9 @" A' H* y2 c- K
CDs could have different ratings, AAA -> F,
- K: r' }& G) V! ?more risky ones would have higher premium (interest rate) as a compensation for an investment.* y4 ]8 D1 m: g
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ W3 O3 Y0 L7 e) b- o; Bin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ K- x- @% A5 S# `) `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
" D7 A3 s6 M$ @4 c6 Y* S/ S$ qsimilar to bonds, CDs trading in the secondary market have different value at different times,. E% X2 i1 w: W# z
normally the value is calculated by adding it's principle and interest. 7 J& Y) G: K, a: `
eg. the value of the mortgage+the interests to be recieved in the future.
" Z7 m3 s& Z! P4 `( dbanks 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.) a! b7 {0 m# @) ?
$ ?+ d6 Z3 x, x2 b& d4 M
im not quite sure if the multiplier effect does really matter in this case.
5 \- S2 L& ~9 I l& Iin stock market, it's the demand and supply pushing the price up/downwards.6 N- v+ B9 b# V' ?
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 H, ^2 t6 e/ @3 R! S
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction." G5 X( D7 i: A* j' A
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.
# ~* T- t4 z8 o0 e& i' m( l$ O- ~7 Ubut the value of their assets did really drop significantly.! a; H8 q, t6 D/ o
' c7 k. s! ~* L, { p[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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