|
- 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.
\7 K6 o! Q; }! CCDs could have different ratings, AAA -> F,$ |9 ~* T; X; _2 e- Y+ @1 Y
more risky ones would have higher premium (interest rate) as a compensation for an investment.
; x& C. p+ a, f% E) omain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( `- l- X$ Q( U. `; z9 U& K2 ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.6 T+ { q; ~+ s8 d' j( c
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
6 [% X$ O% G* N7 F3 Csimilar to bonds, CDs trading in the secondary market have different value at different times,
9 H, m1 m' ]) L; X: u0 i1 Ynormally the value is calculated by adding it's principle and interest.
7 J+ ~& U+ G" E/ L8 geg. the value of the mortgage+the interests to be recieved in the future.
D4 Q W/ \' f) n, A: V' 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.
c7 n5 B3 e/ M" C: r5 q+ T, ^( J) E/ }& F
im not quite sure if the multiplier effect does really matter in this case.1 [6 i: l& A% J) k" r
in stock market, it's the demand and supply pushing the price up/downwards.
: J* i- |5 ^1 _8 D" C' y/ RFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,/ t4 S6 ^& X7 w5 E* M& c0 y& K
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# ~6 z2 q' P, h9 v# p5 t6 B! Y" b4 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.
0 j6 u9 O: U f. j, l# ~5 }but the value of their assets did really drop significantly.
# @8 T( H4 W; X( S; U+ K7 f) U9 n, u% k: o* \0 k) ~
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
