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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.
7 H1 R6 b9 K( ?# e7 H* ~CDs could have different ratings, AAA -> F,; k5 ^5 W! o. y( L+ T/ A8 K8 I
more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 D7 O+ A, p: ^$ w& C. b6 }main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
. y0 [1 w4 X( L! I2 v' E, _; Gin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
N1 u" k. f; A0 Z; C1 q! R3 SAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.+ L2 G4 m8 X% T- Z0 I
similar to bonds, CDs trading in the secondary market have different value at different times,) }* `3 z5 A( t" L( j S
normally the value is calculated by adding it's principle and interest. 2 u7 H" Z# m3 b. @
eg. the value of the mortgage+the interests to be recieved in the future. 5 K/ ?+ b+ O$ `" X! P) S0 n
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.
, W+ k+ ?# D, M( A }
$ D) U5 T4 _" b. J% Zim not quite sure if the multiplier effect does really matter in this case.9 s) W! s3 p5 v b$ D
in stock market, it's the demand and supply pushing the price up/downwards.) E8 o! |( v+ k+ e( H
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ g. _! n9 w, E5 d6 ]
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction. a& Z8 j8 w, n
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. % o% ^) h7 E. \) i3 z8 v
but the value of their assets did really drop significantly.1 ?6 m5 G$ d, H
+ @$ f' `$ ^5 ?/ ]6 s( Z[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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