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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.- N7 F. `. F: h, N! J5 u; Q' O
CDs could have different ratings, AAA -> F,
3 T; L" ]8 d3 ?, B/ e) U3 Hmore risky ones would have higher premium (interest rate) as a compensation for an investment.1 U" ~, \& _0 v" R" D. H% Y
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,2 C/ s- ^: W, H: ]7 O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ i# D* e, S' B8 n7 i
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
0 \& S# G& X- w }+ |# v( h$ Rsimilar to bonds, CDs trading in the secondary market have different value at different times,
$ |4 f6 y+ P1 P) Snormally the value is calculated by adding it's principle and interest. 1 c6 G7 L* E( Q# D
eg. the value of the mortgage+the interests to be recieved in the future. : m! i4 a1 ?' k. `4 ~
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.
( O7 v# C9 U' |$ Y" `
2 e( i5 C0 ~* B1 @2 xim not quite sure if the multiplier effect does really matter in this case.
* D; N( T6 P9 i( @- A8 Win stock market, it's the demand and supply pushing the price up/downwards.
9 X& o* F& j8 @For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
* }/ y* b* D) k" P# M6 P6 GA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
( E# x# Q- _% W5 |* V: ]8 GThe 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.
# A% l8 Z$ ]* w' wbut the value of their assets did really drop significantly.
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* [5 O7 }# Y6 R( K4 k# {[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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