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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.' r. J) }, ]$ @) s0 R( I8 M: o; d
CDs could have different ratings, AAA -> F,3 s1 P9 a5 Q7 b1 J/ R' ~
more risky ones would have higher premium (interest rate) as a compensation for an investment." `9 b; {+ q/ u0 w
main reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
# H1 l$ l6 _' y$ I) R0 V! Fin other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.2 v" \) ~' [" o8 o5 m% Z
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
- W( ` w( x: y% Ssimilar to bonds, CDs trading in the secondary market have different value at different times,
0 ^3 Z) ~9 g& ^+ b. Mnormally the value is calculated by adding it's principle and interest. ! e5 l% P7 }* ^1 a
eg. the value of the mortgage+the interests to be recieved in the future.
) Z, M2 ?% I6 |7 q: F' I9 x* 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./ Q f2 }. T5 ?- l! w
- W7 X, z" \% r |: K2 m9 V# Oim not quite sure if the multiplier effect does really matter in this case.
& T/ {0 q& n" E! N" C: {7 ~in stock market, it's the demand and supply pushing the price up/downwards.
+ k# Q# t% Z! l! T. B9 N c7 c1 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12,+ r8 c, v- v& ^9 x
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
% ~. A* h2 X! h" C1 I' 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.
% N5 `( M( F0 t( L" ebut the value of their assets did really drop significantly.5 ?7 y$ b, A' R. V% g* Z* f( G- o7 A! A- ]) Y
8 T* k, n5 u8 C% E* v |$ K" s) k
[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ] |
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