|
- 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.
3 ~# p! J U$ r$ C; n; Q6 g7 lCDs could have different ratings, AAA -> F,% V8 w# y/ p4 j: Q
more risky ones would have higher premium (interest rate) as a compensation for an investment.
: {/ _/ n5 @% r9 z% Dmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,. ~# |$ }0 z' K6 c5 i1 d0 D
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
) H; L# O3 i% d; q% d% m) N hAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( e7 M" n9 o; M4 o$ b% ~similar to bonds, CDs trading in the secondary market have different value at different times,
8 {2 z; l0 E: cnormally the value is calculated by adding it's principle and interest.
" E% |/ \4 a8 l1 A& {2 E" b- Oeg. the value of the mortgage+the interests to be recieved in the future.
& \( Y7 Y; `2 Q3 w0 v( H( ebanks 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.! V1 V6 X) L l7 L' B. I# D* j/ I
4 ` C8 m% E" [, s! C* a# }im not quite sure if the multiplier effect does really matter in this case.; \0 L; H/ O) F( `3 a! [
in stock market, it's the demand and supply pushing the price up/downwards.
( ]0 T l$ B8 s- b. C. }; YFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,: R: W C/ _* L2 Q2 m6 |- O( ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ Q) o* N9 Y' AThe 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. " i' P8 a; Y1 {) i1 W+ b
but the value of their assets did really drop significantly.
2 t2 V0 P7 r" L6 G$ u, @5 `" j; O0 [6 _+ q" G' D
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
