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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.3 B/ Y' \" _! D, Q: z
CDs could have different ratings, AAA -> F,
+ ? B- F# [1 kmore risky ones would have higher premium (interest rate) as a compensation for an investment.1 Y. a4 V3 o6 O* t9 k- u
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
9 s ~9 H" y0 X' m- G fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ Y8 H2 A: F R, @" @
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
& v- o* Y) p: U+ Bsimilar to bonds, CDs trading in the secondary market have different value at different times,1 ^0 I1 q6 q. |% V) \! {7 p
normally the value is calculated by adding it's principle and interest. " ^3 E; l" v( Q! \" |
eg. the value of the mortgage+the interests to be recieved in the future. 6 c2 o! U9 Y' Q. J/ \4 k) T
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.. C5 r# G: t; I- O( U/ {
, ^4 R1 b4 F( X- F) I# G+ him not quite sure if the multiplier effect does really matter in this case.8 C+ u2 L5 z2 k. a
in stock market, it's the demand and supply pushing the price up/downwards.
' l# c& F0 N" @7 ]For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
$ h2 f, b5 Y* Z4 g* jA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
& h0 }2 O0 [- u0 y- y1 xThe 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. # o1 t, ^. U6 H2 o
but the value of their assets did really drop significantly.
" ?# o6 V% V( x$ f( R0 R Z. n! c. [/ Y
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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