|
  
- 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.
7 S1 [$ |. \6 L" z6 X6 {CDs could have different ratings, AAA -> F,2 ]/ w- C4 p9 j5 c8 I" }- b! `
more risky ones would have higher premium (interest rate) as a compensation for an investment.
: K) N+ m- O: S6 e8 Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; @5 G( n7 { W+ X" Y8 }. \/ z: e0 ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 D: x! a% y; {; ?8 A+ J7 n
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% Y! O- B. D3 x2 S) T3 u3 x( x* Hsimilar to bonds, CDs trading in the secondary market have different value at different times,
7 `$ L5 \4 m# B) Q7 jnormally the value is calculated by adding it's principle and interest.
$ D2 |6 |% q' ]1 j( L* G/ ieg. the value of the mortgage+the interests to be recieved in the future. 0 P; U; U& U; x8 x6 \& }4 u* `
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.( |9 p5 i. s4 `* F4 v
+ _4 _/ M# Y8 A& n
im not quite sure if the multiplier effect does really matter in this case.5 p/ [' L& R1 B. Q
in stock market, it's the demand and supply pushing the price up/downwards.
4 E4 ?5 N! D. u5 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
; j6 P+ U% m- q6 y5 l/ T# |A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 w% G$ N+ f3 l
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. . P5 @. C: y* f0 r2 F3 K0 [
but the value of their assets did really drop significantly.; D! n, D: x" r- i
0 ~" M' d. H8 y2 D% l
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|