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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.$ }" t% T$ f8 ?5 ~$ |+ H$ _ [
CDs could have different ratings, AAA -> F,; s' O& r* B6 D$ H5 B0 V
more risky ones would have higher premium (interest rate) as a compensation for an investment.+ `. M" H. t, ~! L0 u; ^- T
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
7 D0 G# {/ c w7 P! ^# }6 Ain other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 b1 ?1 s" S9 g$ `& L+ ?0 r6 ~
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
8 M6 e% V9 j5 D& ?6 I4 Ysimilar to bonds, CDs trading in the secondary market have different value at different times,3 A4 F1 O c5 M+ ^
normally the value is calculated by adding it's principle and interest. 7 M! `0 \7 t v' `0 C5 R
eg. the value of the mortgage+the interests to be recieved in the future. + d; n7 l4 V* f: 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.
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im not quite sure if the multiplier effect does really matter in this case.
; S% T5 z, _0 }; A3 rin stock market, it's the demand and supply pushing the price up/downwards.: z' T, q, @1 p7 l7 Q6 b
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,) H) C. P8 z6 r' L4 w2 ^8 }
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
1 ]; B4 S h# j# NThe 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. " N/ s) ~5 \: W7 T0 p8 {
but the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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