|
- 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.
! W( M) Z+ l6 s1 g6 o; ?3 S8 e+ vCDs could have different ratings, AAA -> F,! r8 O7 M; R: e& d3 z1 X, p
more risky ones would have higher premium (interest rate) as a compensation for an investment.' O8 e5 b* [( O9 N% ^! _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
1 `$ J) l2 F4 b' x2 r# Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 z9 C- Z' v" L, ^' u, `7 ?! ^Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency./ _( ?! I7 N1 x" u% {
similar to bonds, CDs trading in the secondary market have different value at different times,# n2 E% K _! v" H% Y; t1 u
normally the value is calculated by adding it's principle and interest. 1 ^- h; J/ t6 Y
eg. the value of the mortgage+the interests to be recieved in the future. % C# A" G& p+ p3 D
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.* h9 P }% d. v* H9 j0 A
* A" ?& h& c8 z" Cim not quite sure if the multiplier effect does really matter in this case.5 J `, r1 S) r
in stock market, it's the demand and supply pushing the price up/downwards.# P. w( B2 _ ?2 x
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 E* m+ @1 n6 Q' \4 O ~4 N5 d, L+ hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.9 N* \8 K; t; ^2 n; E
The 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.
8 W8 K1 U; _/ |: `- ybut the value of their assets did really drop significantly.
8 F4 `, ?7 Q- Z: u# m! ~1 e4 e+ T+ ^/ W+ W) d
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
|
