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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.. O' m. I3 I# @# Y0 r
CDs could have different ratings, AAA -> F,
; |0 M: k1 W& S2 k/ a4 Emore risky ones would have higher premium (interest rate) as a compensation for an investment.
4 U" S" Z- r9 C8 E' P* Smain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& m! o+ A; `4 X: S3 v
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
/ U& |" i7 l$ {0 F) p: q* cAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.8 q& o6 k. ?, k8 [
similar to bonds, CDs trading in the secondary market have different value at different times,
9 u. G% b& ^2 v, X" o& x0 h1 }! [normally the value is calculated by adding it's principle and interest.
$ W1 ]# [( i/ N$ J* Beg. the value of the mortgage+the interests to be recieved in the future. / X2 p( B) l- k% K7 b( I5 \" B
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.
% y+ }1 A4 z4 W; m H, u. h
, d( I; N& l* _im not quite sure if the multiplier effect does really matter in this case.
6 X3 a4 A+ p8 H7 P |$ b. @% Fin stock market, it's the demand and supply pushing the price up/downwards. L0 [" Z' l4 Y. m' q( O/ `
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
5 L/ M$ v3 G0 G9 YA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.6 m1 _+ f1 r. k
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. 8 o. t+ X5 G& C5 e- T- M
but the value of their assets did really drop significantly.
$ p8 e; h; U7 |. j: d- g" u, l8 }2 j8 {( t3 O
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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