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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.
% n/ {' u& e C* }1 uCDs could have different ratings, AAA -> F,& r |6 [# {4 c( r- \$ K+ G: v7 t
more risky ones would have higher premium (interest rate) as a compensation for an investment.) C. T% M1 L7 ~# _2 u6 B9 c1 ?" @8 ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,' V) n @, Z. ~- I* m) e3 U. i) n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.( G$ e2 d: K* z5 H! R. P* j
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
( V" B1 l0 _2 ?1 [) msimilar to bonds, CDs trading in the secondary market have different value at different times,) L/ n1 z. |+ x i) z2 i
normally the value is calculated by adding it's principle and interest.
0 ^2 o: ^( W- Qeg. the value of the mortgage+the interests to be recieved in the future.
+ W! X) M& D) c9 w) l( k. _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.. _! ^2 S4 R. O( D+ d
, s0 R. q0 ?$ xim not quite sure if the multiplier effect does really matter in this case.
# c, o7 X* m# W; a: A% D' sin stock market, it's the demand and supply pushing the price up/downwards.. n$ D0 Q6 m: [( J \/ A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,1 {, V2 i, W* I3 R+ v: u& A* ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
4 l; _- C: B* o9 s$ DThe 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. G R& G5 }: h! `# T% M8 N
but the value of their assets did really drop significantly./ [" [/ g$ x( h9 k* e
1 D; i7 q5 [1 b+ A1 O7 }) R[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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