|
- 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 a5 ^; A* t4 R. `7 \3 }- O$ c
CDs could have different ratings, AAA -> F,
& i8 r2 p2 G! ^0 ] `* ?more risky ones would have higher premium (interest rate) as a compensation for an investment.: g6 j: X+ Y' x, [" W j" f+ b1 [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# Z3 c. n; W6 D! x( ^- X7 P6 b
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( L9 x' D d, N9 y
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
Y& V+ p. n4 I0 A% S% e8 B, Lsimilar to bonds, CDs trading in the secondary market have different value at different times,* @, A* {+ s x
normally the value is calculated by adding it's principle and interest.
0 g" c) S& Q* A- J/ ]eg. the value of the mortgage+the interests to be recieved in the future. " \2 `. N$ N, Y. O
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.
; E5 D& l/ P% h2 U% M) a' t- L( w8 V3 i, p; Z% @& T
im not quite sure if the multiplier effect does really matter in this case.7 x- i/ r5 X3 @ D& j% o! D- v
in stock market, it's the demand and supply pushing the price up/downwards.9 Y+ R7 {+ D2 |4 F# ~2 z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 d! _ ?* Y7 K! {# ]/ ]' WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
' O+ X, q# O# ZThe 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. ( ?0 @$ X: i6 G8 ?
but the value of their assets did really drop significantly.
/ z+ Q' q3 q" J
# Y* C3 Y! }+ w$ i8 g5 x3 ][ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
