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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./ e: t; j* d8 g; [
CDs could have different ratings, AAA -> F,
/ b- G Z& D& Z5 {# Kmore risky ones would have higher premium (interest rate) as a compensation for an investment.
& o% `6 O2 x) }( bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,5 U; }* {' r Y- }% Y: P! z+ T
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# i- n7 ~0 O" d$ C q# R
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.! K) }. J# i0 V
similar to bonds, CDs trading in the secondary market have different value at different times,
, b b, H D- p" Xnormally the value is calculated by adding it's principle and interest.
$ ?3 U! D0 A) {6 _3 veg. the value of the mortgage+the interests to be recieved in the future. , F! o8 ^1 z2 Q5 } @
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.8 W/ X- a; d O9 ^7 _& }
" w3 j' z3 T: ]" q, D q( k7 p" V: him not quite sure if the multiplier effect does really matter in this case.9 c% S2 M0 {* t' u; b4 Z* A
in stock market, it's the demand and supply pushing the price up/downwards.
8 E5 L& X4 C5 Z$ @) s8 {$ b' H% HFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( N* b* T0 W7 }" K' B3 hA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
8 M) Q+ j# n6 p0 T5 tThe 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. - }* x% o0 H; {2 v
but the value of their assets did really drop significantly., A$ I5 A( L+ J: D* j
, a* ^9 p0 l8 d% g[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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