|
- 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.
$ l+ f. N0 ~8 } k# fCDs could have different ratings, AAA -> F,8 J5 p8 A3 e+ f( `
more risky ones would have higher premium (interest rate) as a compensation for an investment.; G4 Y- L6 C8 z0 w/ T. j: a
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ `0 |4 f; Y& ]8 S" yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities./ B; R* @0 \; H3 F% `0 M4 _" i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' z& t0 t7 S( h8 A! {3 h
similar to bonds, CDs trading in the secondary market have different value at different times,& r/ c% s8 f# L' R
normally the value is calculated by adding it's principle and interest. # s% K( c, t. t" T9 E* v
eg. the value of the mortgage+the interests to be recieved in the future. 6 `/ ?7 A% K+ C8 g$ P
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., f, d: ^! d! x8 a; b* _, `; U
# c# C* Z0 f$ M" h6 J/ u" P
im not quite sure if the multiplier effect does really matter in this case.3 a& r: F1 b; H/ U9 V
in stock market, it's the demand and supply pushing the price up/downwards.
8 L$ } j- f# N/ rFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. _9 P, E! I1 r% t3 Y) c+ X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# x) q! |5 ^4 f, D) B; H
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. 4 D/ r7 p4 x4 V; S4 X
but the value of their assets did really drop significantly./ l* z# A+ \2 U* o t
- ~$ [; R1 ?$ f* M Z2 {; }* Q. [[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
