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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.$ F, ?& E3 \$ L9 \6 f4 v
CDs could have different ratings, AAA -> F,* H! V5 t8 \# I r
more risky ones would have higher premium (interest rate) as a compensation for an investment.0 ]# o( z- @; q+ j
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ A5 _) \, j* l# _
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 f2 H+ j: \. d- ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.. A5 G$ }7 u1 l
similar to bonds, CDs trading in the secondary market have different value at different times,7 ` I+ A* d! R
normally the value is calculated by adding it's principle and interest. ; q' _' R6 c( N2 U, z
eg. the value of the mortgage+the interests to be recieved in the future.
; z" b6 }; @( W6 Ibanks 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.: \8 K5 h1 F$ u0 ]
) w. e6 B& W I. _im not quite sure if the multiplier effect does really matter in this case.
8 B* ~0 \) X" O8 l% q7 x5 sin stock market, it's the demand and supply pushing the price up/downwards.
1 `2 D6 ^# s* R% u1 yFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
! }: f5 u) c! n8 i) i1 LA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.# `6 J! v8 U; X( 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. 1 \# T/ F+ x/ P, `- y$ R2 @) i
but the value of their assets did really drop significantly.) K: D. b3 S' g- R, O8 R0 O
* k0 L+ r; T$ [" v: k3 B0 d' p# n[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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