|
- 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.
% T- A( r" K% V TCDs could have different ratings, AAA -> F,
7 B2 m0 |1 [+ C1 pmore risky ones would have higher premium (interest rate) as a compensation for an investment.# r. t$ H @$ Z$ N2 U
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
& }& f5 a. D- oin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 v2 ]2 \6 g- w7 C9 X/ `Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
. F7 ]8 O( {3 ]3 v+ Rsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 e0 o; \6 W* h4 }6 Fnormally the value is calculated by adding it's principle and interest.
1 J8 ^: U9 I, O2 [" \0 J4 y7 ceg. the value of the mortgage+the interests to be recieved in the future.
" t3 Z% L/ d) K' p& nbanks 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.
- B" B% [ W# f( `4 h' H3 ]/ q+ @
) | x- I5 x; h4 c$ \im not quite sure if the multiplier effect does really matter in this case.% s9 G; I6 r; {) x1 l
in stock market, it's the demand and supply pushing the price up/downwards.
7 h/ H: \! o2 [7 ?- e/ e3 L v7 {For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,7 r# i( }' _+ ^1 ]: x+ d0 [2 O% ^) d
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ ^4 C) g9 a) _" y z7 j3 l. X2 k
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.
/ M0 t, C5 ]6 ybut the value of their assets did really drop significantly.
8 e! d$ T& V" j1 S( L% h* P, f6 ~
$ ?( v9 f4 g" n/ C$ ]9 N5 b$ p[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
