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發表於 2008-10-8 07:03 PM
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i thought it is the reason of rate of return.
0 w f0 f) Q) g% o' _9 J ~CDs could have different ratings, AAA -> F,
$ ~7 B( {" q8 Cmore risky ones would have higher premium (interest rate) as a compensation for an investment.* Q: Z6 n, z, I6 ^
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,) p& l) `6 m0 l2 ^4 F3 p; C
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
; v h8 m1 S/ t# yAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.6 n" O! h( `4 `! Y
similar to bonds, CDs trading in the secondary market have different value at different times,
u$ t; p# J2 v) ]normally the value is calculated by adding it's principle and interest. 4 G. V: R, w. ?* l+ E
eg. the value of the mortgage+the interests to be recieved in the future. ; h& o, a5 t! E+ n1 Q0 k
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.4 k& ?- I( N9 ?$ N
2 }* z# u4 c$ g
im not quite sure if the multiplier effect does really matter in this case.8 x0 E( h; Q# M
in stock market, it's the demand and supply pushing the price up/downwards.7 W2 X( Q: I. z/ |4 W! \1 p6 @) l6 A
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
- L, k* j& \8 A4 f3 TA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
- h4 C0 e, C( E* Z+ gThe 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.
* A' j( }9 {+ K2 ebut the value of their assets did really drop significantly.* d6 N$ K8 a1 L2 K
. C, T" `# q6 W3 e1 Q) J% W, P: T0 U[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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