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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.: j, f2 S2 l1 p' m5 X# e
CDs could have different ratings, AAA -> F,
, D3 E; J, F0 |0 C( Tmore risky ones would have higher premium (interest rate) as a compensation for an investment.% [4 U; x' v; @' A0 Y- Q6 s: Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
+ W5 U+ B# W% r% F/ k4 I" Yin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
" R2 k: ?$ v# UAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.# K, P z# l) Z# @' z6 u
similar to bonds, CDs trading in the secondary market have different value at different times,4 r2 J) B1 B5 a; \% U
normally the value is calculated by adding it's principle and interest.
, x$ f3 E2 Y, Q1 aeg. the value of the mortgage+the interests to be recieved in the future.
9 Z) m. g; y- @& K8 L% Jbanks 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.% A3 u7 H8 |% o
- z: ^( |1 {! [2 A$ e; U9 a/ I
im not quite sure if the multiplier effect does really matter in this case.& }, d# {- z" G: H/ s2 a" b
in stock market, it's the demand and supply pushing the price up/downwards.7 ^# p# o; [) t, n' O% L
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 J! g: [1 s# s( Y5 H2 yA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 e; o Z9 E* K# m) C
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.
6 m4 S1 o4 w# F% l( U0 `but the value of their assets did really drop significantly.
7 ~0 J8 N7 O% [( F6 o) h; z6 _2 @% P0 Z$ e3 e: {/ c6 a
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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