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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.& W+ C5 J6 M# ~# n5 x
CDs could have different ratings, AAA -> F,4 C0 A9 I. M2 y1 A& T
more risky ones would have higher premium (interest rate) as a compensation for an investment.8 Y9 }: H( Y" i4 a4 [
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
0 A' ~2 T0 [- [- E$ N1 D% `in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
8 L+ n I/ @( S. N- X$ M- K' oAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.; s/ ]7 B0 y" {0 p1 ^
similar to bonds, CDs trading in the secondary market have different value at different times,
4 x/ w- a/ _* R, z" R7 nnormally the value is calculated by adding it's principle and interest. * t" ]7 I8 A s" n1 D3 d
eg. the value of the mortgage+the interests to be recieved in the future.
}3 Y+ p- b3 q# I2 [8 Rbanks 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.: C; J6 G$ b0 k1 R5 E0 p: b0 E
0 Z0 p, w4 ?: m! n2 B7 D" B( Vim not quite sure if the multiplier effect does really matter in this case.
- q( s/ i2 s) j: A, m7 tin stock market, it's the demand and supply pushing the price up/downwards.
+ Q. g, z2 g8 J; f; Z" \) xFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
( ? K) q, o' q7 }% W$ D" dA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
" v9 z9 M- f" H- l$ S7 pThe 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. ( }& S, {! Y/ m+ ?: {
but the value of their assets did really drop significantly.) G4 I; @4 H$ O! z' a& J) _
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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