|
- 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.
+ d. t5 b+ z; ?' s+ {CDs could have different ratings, AAA -> F,' ^! W( R, x) O4 E [
more risky ones would have higher premium (interest rate) as a compensation for an investment.7 _$ J" j$ ^: }3 z* V1 G
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,1 D w' _+ x% e0 E/ w# D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
# I% y, t/ J, X- H8 ]+ R6 c# [- PAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.9 ]: \7 y& l! w! b
similar to bonds, CDs trading in the secondary market have different value at different times,. S2 Z( k8 F* |$ g" t
normally the value is calculated by adding it's principle and interest. ) n7 U1 t7 T5 ]9 Q b
eg. the value of the mortgage+the interests to be recieved in the future.
0 Q, S- N& Z* f0 N- \8 `, {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.- j* V: b, Y9 L5 t: S* V
5 D6 m4 ~& }$ y5 H- x/ `
im not quite sure if the multiplier effect does really matter in this case.+ H6 z4 v- p& L
in stock market, it's the demand and supply pushing the price up/downwards.
+ N& d2 ^ x/ S7 D" m+ \7 SFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; u S, ^8 I1 b% T$ o1 X/ YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
6 z- {* f+ M0 J) R2 ]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. 1 M$ f U+ k( V( S' p- R% F
but the value of their assets did really drop significantly.
) O1 U5 W& x5 e3 `
7 I6 s' b# i- N6 N* x: Z" T: I1 h' a[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
