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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.: W2 `. V% A/ e7 p1 E
CDs could have different ratings, AAA -> F,4 F$ {! |1 g6 W/ a" V
more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 o' j b. B3 v! j# zmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. @2 T" ^0 k0 y- V+ win other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.- i9 l1 R& I0 K" u& ^; ^/ H% G
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& g2 t, Q# n5 n- y$ H# \similar to bonds, CDs trading in the secondary market have different value at different times,
- @' }' E4 k7 W4 H1 `3 Y* bnormally the value is calculated by adding it's principle and interest.
) M+ T. y' s. W' | Z2 [eg. the value of the mortgage+the interests to be recieved in the future.
Z. [9 i' }% |, v7 a+ H cbanks 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 I9 c; }+ A, G. w* W7 w
+ r: T, q7 B. Qim not quite sure if the multiplier effect does really matter in this case.+ S1 U" c+ S1 D1 A8 G t# T
in stock market, it's the demand and supply pushing the price up/downwards.6 B/ L: Y! i6 t. j3 D! x
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
" W- {1 |% a1 F; A" N6 BA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
/ h$ E: A& }8 c! X) i9 \% OThe 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.
! w; w! w+ J( K' S' |, lbut the value of their assets did really drop significantly.: G3 \ C: W5 h, G- x
; ~2 p3 t& I7 t% }) T( Y2 y) u# B[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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