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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.4 ^+ O% i! f, D, n; S7 H
CDs could have different ratings, AAA -> F,
$ P9 V0 s4 [5 h7 Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
7 m5 ~8 {4 G* `7 f, q Hmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 y" h! e% ?, s/ |in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.. P$ p8 U9 _% s! k' V
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
' _' a; [4 J# x s0 r/ [similar to bonds, CDs trading in the secondary market have different value at different times,
! B$ }9 }8 q( `/ Z, snormally the value is calculated by adding it's principle and interest. " G3 M4 |* Q* _# s& s r7 a
eg. the value of the mortgage+the interests to be recieved in the future.
. H* }" P: u0 ]& Q9 G# E Cbanks 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. ]/ @; E7 Y& P. W; e5 R+ L
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im not quite sure if the multiplier effect does really matter in this case." L6 }% O9 ], S) w" F# S& }
in stock market, it's the demand and supply pushing the price up/downwards.2 w" V4 g: ]# X9 b+ {
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ G1 U( s8 [) b7 D, i/ ~$ r
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.$ N4 d9 a e& s$ w
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.
P1 w+ p6 ], q1 W5 lbut the value of their assets did really drop significantly.
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8 A S. G9 `4 Z: q[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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