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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.9 a8 v$ ^# n$ `# J% {/ M0 x
CDs could have different ratings, AAA -> F,
9 x& i: Q2 R! _: t0 jmore risky ones would have higher premium (interest rate) as a compensation for an investment. F. y" N2 ?* T0 X
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,( i5 n# T1 v1 K! ~, K6 O; a
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
2 k j6 \) L# ?9 x+ pAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." N6 d. _; Z( @4 T! w0 O2 b7 q
similar to bonds, CDs trading in the secondary market have different value at different times,
( h! H- v3 u) tnormally the value is calculated by adding it's principle and interest.
1 [" _; h4 s8 ?4 reg. the value of the mortgage+the interests to be recieved in the future.
0 n+ N4 x* m9 D8 s* ]! ?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.
$ B- J3 _+ L8 c: E5 W4 ]3 F4 R
% s+ `0 \) r5 z! @6 Y6 mim not quite sure if the multiplier effect does really matter in this case.& u! C, I2 J, z8 ]
in stock market, it's the demand and supply pushing the price up/downwards.* E( k- a! A- b1 a
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
/ q3 T' K! @) ZA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 D; C' ~$ s" J8 O0 E8 y) p, C. 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.
( b8 P: |' A- y* b5 v8 @& ~but the value of their assets did really drop significantly.# k6 c4 [' a% g5 B
5 t" ?9 x7 D% v4 Q7 U- I" f4 t6 [
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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