|
  
- 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. X, E( J1 j" k, K* f& X
CDs could have different ratings, AAA -> F,
* z& i3 \- g+ ]* @+ ~" Vmore risky ones would have higher premium (interest rate) as a compensation for an investment.
) E3 m; W& @4 K6 e3 t, Xmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 U: S& e9 d& z! n c/ i( T# U& xin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& k; w% B [# R# F) M- \1 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ F2 z$ O& S5 \! X4 Q
similar to bonds, CDs trading in the secondary market have different value at different times,
7 g# y3 b% i( l: h5 m* }& jnormally the value is calculated by adding it's principle and interest. " o* C% \7 P% B; r B8 M: z
eg. the value of the mortgage+the interests to be recieved in the future.
4 D3 b: o0 ^) r ybanks 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.
7 M% c8 o6 N, \3 ^, M7 \5 `" m' H: F; z( a1 Q8 V
im not quite sure if the multiplier effect does really matter in this case.
" s3 p7 J2 J' m/ ]. `6 ~in stock market, it's the demand and supply pushing the price up/downwards.
9 u/ e& e- \8 wFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
& t: z$ G+ ]6 d, U- kA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 Y$ h5 T5 G5 i; c5 |: p& NThe 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.
2 t# D+ K7 m2 Ebut the value of their assets did really drop significantly.+ b! @3 v1 q" v# j, l$ v
( e; Y3 p7 I# v/ T9 C. M/ V
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|