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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.
% e7 L7 P. z7 b* {CDs could have different ratings, AAA -> F,, ]3 c8 Q% G4 ? V
more risky ones would have higher premium (interest rate) as a compensation for an investment.) W L3 k& C0 K$ O& E; l
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 A- i3 l6 D; [. U
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.' e. r4 |, g V% Z4 c5 v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." F0 N) f* n5 [. q& f U; \
similar to bonds, CDs trading in the secondary market have different value at different times,
3 d; a7 [% _6 Y1 ]& Nnormally the value is calculated by adding it's principle and interest. + h# Y ]' v# V5 N6 j: b4 Z
eg. the value of the mortgage+the interests to be recieved in the future.
+ y& O1 ~' R0 Kbanks 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.* M! a0 O6 X# j2 k* F, s
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im not quite sure if the multiplier effect does really matter in this case.2 z1 F4 [2 K$ ^6 ~- z) D2 z
in stock market, it's the demand and supply pushing the price up/downwards.- N* ~2 Y% y5 e* l' ?' j ]
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,& O* ]5 d( e5 ]) I6 I4 K/ v
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ G$ J3 M- ~% VThe 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.
; ^9 H" ^7 f# I& e* H$ V' q0 ubut the value of their assets did really drop significantly.
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0 b V, G0 f3 m$ ]! p& D3 \. o[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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