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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.$ E) z- R/ v# E8 U% S/ y* w) G( C
CDs could have different ratings, AAA -> F,0 s5 j8 C. V* m
more risky ones would have higher premium (interest rate) as a compensation for an investment.! d% r3 R$ V3 d4 D! I
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,4 s! ^9 l6 ^" ]
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.5 \: z) j" z+ ]8 y9 h4 @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.: o' U F9 W! j/ Z$ Y" ]
similar to bonds, CDs trading in the secondary market have different value at different times,, c$ u" b- x. N. s% _1 Q
normally the value is calculated by adding it's principle and interest.
% @- G: D6 p$ J( Deg. the value of the mortgage+the interests to be recieved in the future. 1 w C: J1 g8 f: `0 |/ B+ [
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.
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im not quite sure if the multiplier effect does really matter in this case.
$ z, R2 n: d7 b O! Qin stock market, it's the demand and supply pushing the price up/downwards.
8 ?& C: Q$ F9 t! C% ZFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
) r2 W1 Y1 J1 l% d/ aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
: K! l" b* U$ O) a6 qThe 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 U& {6 v& C% \: n, s$ g& t
but the value of their assets did really drop significantly.
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/ u" i' ?2 l5 }! ^0 I[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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