|
  
- 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.
0 r6 h% z- Y. ZCDs could have different ratings, AAA -> F,
& {# L1 J, [+ S1 q) mmore risky ones would have higher premium (interest rate) as a compensation for an investment.' K, F) S% [* V4 g6 g q
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
: H: o {1 y9 p* {+ k/ E5 sin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
4 Z' C4 E' ^/ e+ q+ }& `+ jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 ~5 D N$ d0 Z9 Osimilar to bonds, CDs trading in the secondary market have different value at different times,
# e0 Z0 Q9 G: A- N- Rnormally the value is calculated by adding it's principle and interest. 8 E0 P6 ^, L4 d7 z# }% f; d2 M' {
eg. the value of the mortgage+the interests to be recieved in the future.
9 y( I6 C7 U+ G' b- xbanks 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 _" S5 {3 E( K# J4 J2 t5 p1 k
$ f6 L! h+ e6 ^2 mim not quite sure if the multiplier effect does really matter in this case.# b2 p% D' `5 g9 H" a1 t5 d
in stock market, it's the demand and supply pushing the price up/downwards.
8 x( a* r& p, H pFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
3 O" P4 H# z" j$ U, L# V( S( F4 bA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ B0 Q' z \6 N4 aThe 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.
4 ~; P* T9 R, {1 Cbut the value of their assets did really drop significantly.2 q5 X7 v! {$ I
7 x- {9 K T' i5 }& q[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|