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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.
0 t3 {( Z" ^" A |CDs could have different ratings, AAA -> F,
- j, t! L3 o" X: {6 m" V2 _more risky ones would have higher premium (interest rate) as a compensation for an investment.
$ s) @. K( H, |1 wmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
6 S9 y0 O" J2 J- p/ W" s" x/ g+ A1 Hin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
& j U& b' D* ~Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency. V. O( g- c( `# N9 g8 r# [. E
similar to bonds, CDs trading in the secondary market have different value at different times,7 f+ `1 z/ S: w+ d% ^8 T- n3 H
normally the value is calculated by adding it's principle and interest.
5 P$ n6 m8 U& H# q$ xeg. the value of the mortgage+the interests to be recieved in the future.
' y. p6 K$ v6 p' A9 Q/ Hbanks 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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9 {' `* J' _2 [im not quite sure if the multiplier effect does really matter in this case.
4 S# y4 g5 A9 d ^3 r! i0 Pin stock market, it's the demand and supply pushing the price up/downwards.8 s' I5 U2 O& ?+ V
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,# V- k( w1 \$ _% z8 {
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 A' G8 S3 Q! Z2 q' Y: m
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.
+ Z9 ?/ L- }7 ]3 _but the value of their assets did really drop significantly.
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% U4 k% ], T3 k. V& F[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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