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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.6 \5 T3 ]+ i2 z1 c0 q2 M6 \
CDs could have different ratings, AAA -> F,+ N" k8 n% [% c, y) k \ ]% j7 u
more risky ones would have higher premium (interest rate) as a compensation for an investment.* u2 F/ v" l" K8 z) O, {+ m" D
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ B; P S. j) e) P/ j! O5 }; b4 r% R+ @5 z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
9 [" C8 }$ D! ]# lAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.( [7 [ z% i: K6 R& u
similar to bonds, CDs trading in the secondary market have different value at different times, C0 n0 }3 q" Q/ u& L/ n
normally the value is calculated by adding it's principle and interest.
+ S, f9 t+ D0 [eg. the value of the mortgage+the interests to be recieved in the future.
/ {: J8 I' q/ x# @9 Zbanks 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; o7 r& c3 A- D) q
) a2 ?: Q4 _$ A, G& Q7 }4 u
im not quite sure if the multiplier effect does really matter in this case.
# f, H4 G* k- ]in stock market, it's the demand and supply pushing the price up/downwards.8 ~ [1 y/ s% r0 i- n5 m/ M
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. ]- U9 _8 H% m+ a7 ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ o! N+ b& S% v4 b* eThe 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. 5 }. @$ K$ J/ F/ N# E( y) W
but the value of their assets did really drop significantly.: S3 G, N+ W0 H3 u$ ~! g4 y
! C3 k. x5 i. @4 Y: P* T) t7 \[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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