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12#
發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.# P) x3 R; H: V' k# t1 P9 ?, Q
CDs could have different ratings, AAA -> F,
9 K* w% F$ F3 G9 mmore risky ones would have higher premium (interest rate) as a compensation for an investment.& K: S8 M( @1 R, P+ B7 R
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
3 t7 F, L+ g5 @! w0 I5 Win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
6 k/ [ ~/ V% J2 @5 |1 F" [* T0 uAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! t' l2 a2 c1 U) V$ l% _
similar to bonds, CDs trading in the secondary market have different value at different times,( c- V1 y- f1 ?6 V
normally the value is calculated by adding it's principle and interest.
$ S! M! N+ G0 i+ U9 Weg. the value of the mortgage+the interests to be recieved in the future.
# S( U' _" z) @* Y. C1 _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.6 N9 |) M. J4 g P% F* {# U0 O
, S4 m A1 _# E3 N7 b. ?- vim not quite sure if the multiplier effect does really matter in this case./ b7 x4 _2 a0 |- @ S. n- [6 H- u/ z
in stock market, it's the demand and supply pushing the price up/downwards.& N {( B! C7 G( o( q9 F# d
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
+ f. J( l$ m- S, WA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
5 F+ t3 Y. [+ w! ` t/ y1 ]) A1 CThe 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. ' O$ x- q' A9 H& S
but the value of their assets did really drop significantly.
9 F/ a" ~3 [6 \; J4 j t" v! [( l5 s) b
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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