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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.8 ^3 }3 Y- F' `- t! R; N
CDs could have different ratings, AAA -> F,
; @$ [: c* ]( B3 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.* T. Z2 u- U+ _
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
$ Z+ | h6 x& \* cin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
$ P' p2 k2 F- P5 y! g( D* Q+ \( jAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; k5 u! G$ G8 z/ X# w' m+ X; m
similar to bonds, CDs trading in the secondary market have different value at different times,$ g. o7 e. Y: G9 @
normally the value is calculated by adding it's principle and interest. 8 @# E% ~, E$ n0 l4 |! N
eg. the value of the mortgage+the interests to be recieved in the future. % F2 }) m6 A* t
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.- G' c0 y7 c4 p+ l# l' K4 C- Z+ l. L
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im not quite sure if the multiplier effect does really matter in this case.2 ]5 R1 a2 A0 z! E0 k6 J1 [7 ~
in stock market, it's the demand and supply pushing the price up/downwards.7 k' K3 R6 \; w+ {2 K: P0 w
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. G' A, z* ^2 `7 ]- o1 C/ N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.) i% u2 e; Q6 v& U; _
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. 1 V+ {: ^# O0 H! b' ` s- [& _; k
but the value of their assets did really drop significantly.8 F# a) s4 o( d% \$ I6 }9 Q0 ^
' T0 Q8 [$ a8 W" _* N2 k[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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