|
  
- 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.: i, F3 L' }% Y( x" u, C
CDs could have different ratings, AAA -> F,* A4 l8 e1 x% B$ @) X! c) y
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ n( q0 _* c2 `" [" @5 B6 ?
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,, t) N. C' T8 g. a; D! H
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ c( Q( y) c/ nAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 {, `; q4 G7 I8 Fsimilar to bonds, CDs trading in the secondary market have different value at different times,
; S4 ?% l5 N- ^1 j% ^. anormally the value is calculated by adding it's principle and interest. + h1 K- [, }! |; t
eg. the value of the mortgage+the interests to be recieved in the future.
+ F! v! U) g$ X$ `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.
' q' \0 B! k6 k1 Y
, r& F7 W4 l, `5 H- aim not quite sure if the multiplier effect does really matter in this case.
6 c0 Q( C* M4 u- Win stock market, it's the demand and supply pushing the price up/downwards.
$ f# G- E* @- M" [+ r/ @0 D6 dFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, ~$ t2 S4 W2 u8 N3 P' XA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
; v) E$ n+ E. YThe 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.
2 G4 [, L! n+ [) B! ^but the value of their assets did really drop significantly.! ^6 p) F- X4 o1 u1 G" [0 x% J
; y; }; l( D1 e- D1 T
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|