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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.
% T& R) [: y% i" b, B5 \# LCDs could have different ratings, AAA -> F,
# c7 ]3 {! s, c; L1 o! m# \more risky ones would have higher premium (interest rate) as a compensation for an investment.
2 q {0 Z1 p) K! bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,# I( M: q1 z3 L& _- g1 Z
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.1 ]1 Y! {; U+ ^* I7 h6 H, m
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency." u: _3 K" t; t/ H2 J( Y3 l
similar to bonds, CDs trading in the secondary market have different value at different times,' X9 P1 F* z% _. M
normally the value is calculated by adding it's principle and interest. . G; {; t8 \, x) y6 X0 z
eg. the value of the mortgage+the interests to be recieved in the future.
: b" Z$ ~( B1 {4 d# pbanks 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+ t5 I8 @) {: X; d* j4 p, J' o2 ~) Y* }+ f/ |
im not quite sure if the multiplier effect does really matter in this case.
8 R$ h# D/ O! s0 g: Cin stock market, it's the demand and supply pushing the price up/downwards.% \6 C1 h) g$ O# q3 l) J
For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,
7 r2 F1 c/ ?7 k( aA's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
. A% C, ~$ s2 G* kThe 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. " R2 W6 S: H$ R+ E- p
but the value of their assets did really drop significantly.
, q8 Z4 }2 g: C9 r- S" P+ h% q6 t8 ~+ W4 F$ h
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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