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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.+ b+ ?% d' |5 L6 ?9 w( Q2 e
CDs could have different ratings, AAA -> F,
& v% J. @9 e/ T* Y+ X* Mmore risky ones would have higher premium (interest rate) as a compensation for an investment.
- ?2 R% n; z" Tmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 z( c: ^; ~# S% U+ x) q1 ]* W1 jin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
' } ~; {, q- b( G4 fAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; W# c; k4 c4 C2 d
similar to bonds, CDs trading in the secondary market have different value at different times,3 m/ P- G( |* f2 Z9 O, W) I4 d
normally the value is calculated by adding it's principle and interest.
- z: [7 i7 X2 N) [' seg. the value of the mortgage+the interests to be recieved in the future. - d' a; ~: X5 x4 M' w# u
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.
: R# M: {$ q- M/ u, O
/ u+ [+ A7 }& W- `. R% dim not quite sure if the multiplier effect does really matter in this case. |" X2 E7 [ q5 a$ @
in stock market, it's the demand and supply pushing the price up/downwards.% [' L9 i3 O: m4 \* B( J. D
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
, H. Y' h& n; p. h% [A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ D: K" D( @5 g& ^! J1 L* f
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.
5 b( ?2 k4 x8 U5 Wbut the value of their assets did really drop significantly." ^7 ~: N% P* I1 Y C
. R/ o9 x) B, E* s# {/ d, a
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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