|
- 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.
! O5 k$ F% W1 ACDs could have different ratings, AAA -> F,
9 H. E) v N: }: R/ lmore risky ones would have higher premium (interest rate) as a compensation for an investment.0 B: v2 J& r/ P; T/ s$ N+ C4 i! z; A/ q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ I- v4 k3 `" {# P$ u$ V( Vin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 V( z5 q+ s0 A7 V: f2 A8 s! z0 f: S
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ c/ E/ t* N$ O! Q# v S
similar to bonds, CDs trading in the secondary market have different value at different times,
1 C' e+ M: F5 @, Z) enormally the value is calculated by adding it's principle and interest. - e; r# M' e) P- x& J9 g# m
eg. the value of the mortgage+the interests to be recieved in the future. . Z- v1 L. L. F6 ]* x8 P) S
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.& m& F% X: Q! k* H: Y" i& X
3 C0 H, N. g; s8 H" D+ Lim not quite sure if the multiplier effect does really matter in this case.
; x* K6 `$ V E+ V9 Min stock market, it's the demand and supply pushing the price up/downwards.' I6 h1 N* Y4 J3 q( ~9 }1 Z
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 o, E8 o) w; w% s( X
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
+ t8 X* U5 N5 V# ]) x4 |- z9 PThe 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. % b) ] s8 U2 P- x2 Z, W: G+ U0 R
but the value of their assets did really drop significantly.
& g# R: j4 x1 o% c0 e2 p( M
$ D$ I; I% g6 a# e* q. ~0 n1 j[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
