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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.; ?! I4 i* m' H9 j) c
CDs could have different ratings, AAA -> F,
9 @9 j; R7 Y4 w( k hmore risky ones would have higher premium (interest rate) as a compensation for an investment./ f! U7 w! |% z" c
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,/ G; ^+ F: [8 }+ O( O6 O
in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.
0 |, @3 E) G2 |8 S: n) \1 O/ X( c- bAlso, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
$ ^! q% I+ x8 V) Z0 Jsimilar to bonds, CDs trading in the secondary market have different value at different times,
) \8 G6 ~/ k* j: p+ dnormally the value is calculated by adding it's principle and interest. 7 Y& r. ]$ T; Y9 M3 [" d
eg. the value of the mortgage+the interests to be recieved in the future.
+ r" m6 S; p% E/ O* S, r% Qbanks 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.: f1 N f3 w& x2 u9 D9 N0 J( i* N
) x5 U% o! o+ X+ |3 G
im not quite sure if the multiplier effect does really matter in this case.
( |" A% Z- v/ Fin stock market, it's the demand and supply pushing the price up/downwards.
1 l n$ Q$ Y9 H# X9 M9 |% {8 VFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12, d7 ^* o) _2 G8 a3 u \2 E' A
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.+ ~; B" [, {3 B/ D e
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. : f7 D1 {1 k; |: i8 y+ D
but the value of their assets did really drop significantly.* f* c) `& B: v, ?
; R6 P0 H4 G P[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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