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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.
% W- O) V* a- ~9 S: V# {: c1 ICDs could have different ratings, AAA -> F,
) y, z8 }" w7 @# `4 b; g8 n8 w6 d- K* ]more risky ones would have higher premium (interest rate) as a compensation for an investment.# s$ t4 V3 p6 ]" f7 Q8 n M$ B
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,$ u/ O( T2 x/ K, n
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.# \8 C1 `) b9 }; u9 b v
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.& i0 X5 E+ y2 p$ b n4 G
similar to bonds, CDs trading in the secondary market have different value at different times," ^3 S7 @3 D. N3 p
normally the value is calculated by adding it's principle and interest.
& w) Y+ r- D! u, @/ Weg. the value of the mortgage+the interests to be recieved in the future. / x# s' J- o" K' w8 X1 Y4 X
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.
7 o$ s: M0 H/ r8 f+ Bin stock market, it's the demand and supply pushing the price up/downwards.
a" ^: m, a) W& ]% V ]6 ]' T) v+ }For eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,. u! H- u+ n9 M, m. d
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
# }; l2 ?- `1 m% I" j3 b1 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.
+ U& ]' f# U8 c3 H# wbut the value of their assets did really drop significantly.
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* @3 r' p( `# Z) D+ G[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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