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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.. i+ \" g4 @: Q0 g/ \
CDs could have different ratings, AAA -> F,' [/ n0 ~, A8 u1 K( `( H
more risky ones would have higher premium (interest rate) as a compensation for an investment.1 _- X$ |/ k d u9 x
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,3 ?! h& A0 `. _8 i( |% m, C
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 G' U# ]5 i' Q" h4 j/ J" r8 \9 G( _
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.3 E w3 X( d& y6 D+ u3 L
similar to bonds, CDs trading in the secondary market have different value at different times, g3 B5 Z2 `* y# j* l! J
normally the value is calculated by adding it's principle and interest.
* H7 {% Z* K/ s2 seg. the value of the mortgage+the interests to be recieved in the future.
9 ?" w. i. F0 P! ^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., e6 K2 j/ `8 P8 f q( \0 j
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im not quite sure if the multiplier effect does really matter in this case.+ G4 O/ o4 g% p4 K/ t% J
in stock market, it's the demand and supply pushing the price up/downwards.' [5 s$ H" S" f! [# f
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,2 ~* l4 ]5 G( N
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.4 ~ H$ L4 J- C' |/ L6 b. k( ^/ W
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. 3 K1 l a s& e/ C! J
but the value of their assets did really drop significantly.# I) H- G' I9 ?( S. {" ]
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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