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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.# }5 x2 Z$ _: Q( h" R+ P( Y
CDs could have different ratings, AAA -> F,' U4 w+ N* Q9 F! O* u, O
more risky ones would have higher premium (interest rate) as a compensation for an investment.% B) h/ D) ?$ {5 q/ ? O4 ~
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,& [, {( {6 d( X4 {, M
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.7 ]& g3 O( M; i9 e2 i4 k) A7 z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." t/ N. S0 v& V9 r7 U
similar to bonds, CDs trading in the secondary market have different value at different times,0 W6 Z( x4 o9 B8 _+ s: @
normally the value is calculated by adding it's principle and interest. ) V$ @1 J5 Y, _; b
eg. the value of the mortgage+the interests to be recieved in the future.
# _( Z) `3 V0 Q# S. o9 H* Cbanks 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.* L6 X& U5 E7 x& O
+ R! D3 r, E8 q: h5 G5 t- xim not quite sure if the multiplier effect does really matter in this case.) d* C( ?6 D9 z2 u( |7 {
in stock market, it's the demand and supply pushing the price up/downwards.
6 |. [2 i$ l# hFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,5 R7 _2 ^$ p* `/ ]7 t0 R/ ?
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
! c8 X: u' U+ s4 cThe 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.
) ?; [5 F7 J7 q* u5 \but the value of their assets did really drop significantly.; H. q. I0 ? f
3 Y2 i+ Q+ W" L; M: a$ R: l" H0 _
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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