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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., A h: [* q2 r$ M% x3 B' e
CDs could have different ratings, AAA -> F,
3 D5 w( R$ t) S# ~) \9 H3 C% Imore risky ones would have higher premium (interest rate) as a compensation for an investment.
- O E9 c% B+ i" u' T- \main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
( E, ~& ^' V$ n3 E% F7 J1 E& ?in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 j; y, c: G; `' n: }: b
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.' |% a4 }3 f! D- _' m2 z) S9 j# x
similar to bonds, CDs trading in the secondary market have different value at different times,; z4 n ^5 J% h4 E$ p" g! n
normally the value is calculated by adding it's principle and interest.
1 F3 N! l/ b' I d2 {% keg. the value of the mortgage+the interests to be recieved in the future.
. ?2 N- ?' e2 @; ?: s l+ d5 E0 Qbanks 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 t9 F9 ?: y4 R) O. ^
' J, M5 c: i# n- _3 p7 ]im not quite sure if the multiplier effect does really matter in this case.
5 @) b% C! p3 J0 |! v# V* y, }in stock market, it's the demand and supply pushing the price up/downwards.
: [3 G4 ]7 D% R+ {* `7 }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" t$ L$ `4 ?3 v) |2 g; h+ `A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.8 J6 m) d' {4 C* U" s% r# _
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.
. C Q, j; Q u6 j7 Obut the value of their assets did really drop significantly.
8 I- k8 t5 K' U; x) u8 |1 G9 z5 o& E3 C5 m8 g
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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