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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.' _0 g' B4 X3 k* H+ \3 g
CDs could have different ratings, AAA -> F,- O+ |( ^2 M0 f* N$ ] @2 @$ Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
( c) e' t0 r* p" h! W- w& D& ~main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,; s4 S/ z7 s7 m* ~* v
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
1 Z1 [8 L. }. [! O/ |) k# G4 \Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency., J9 p% ^8 M2 S0 o5 i0 ]' K5 a
similar to bonds, CDs trading in the secondary market have different value at different times," I& Y( A# l* A, N0 w8 R
normally the value is calculated by adding it's principle and interest. # I7 R: n* o3 ^% @9 @- R! _
eg. the value of the mortgage+the interests to be recieved in the future.
0 o* M ~8 E( ^, obanks 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.
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im not quite sure if the multiplier effect does really matter in this case.! G. L" U! }! w; Z6 Y
in stock market, it's the demand and supply pushing the price up/downwards.4 e# d% c& Q8 E5 s
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ [; J5 ]1 P" _% n, e/ cA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction., w. ^ ~ X" t9 U3 N& ^3 }
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. 7 j8 o. m+ V' F0 B- D. u0 _" {
but the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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